Ryman Hospitality Pptys Inc Stock Price, News & Analysis

Ryman Hospitality Properties (NYSE: RHP) has announced a significant leadership transition. Chairman and CEO Colin Reed will become Executive Chairman effective January 1, 2023, after 21 years as CEO. Mark Fioravanti, previously President, will step in as President and CEO. Reed's new role will focus on strategic partnerships and advancing the company's ESG goals. Under Reed's leadership, RHP established itself as a major hospitality and entertainment player. Fioravanti aims to build on this momentum with a long-tenured management team, emphasizing value creation for stakeholders.

Ryman Hospitality Properties (NYSE: RHP) will present at the Deutsche Bank 2022 Leveraged Finance Conference on September 21 at 10 a.m. MT. President Mark Fioravanti will partake in a fireside chat, alongside CFO Jennifer Hutcheson and VP Ray Keeler, who will hold meetings with attendees. A webcast of the presentation will be available on Ryman's website, with a replay accessible for 180 days post-event. RHP is known for its upscale convention center resorts, including Gaylord hotels, and a significant interest in Opry Entertainment Group.

Ryman Hospitality Properties, Inc. (NYSE: RHP) announced it will release its third quarter 2022 earnings results on October 31, 2022, after market close. A conference call is scheduled for November 1, 2022, at 10:00 a.m. ET, to discuss the earnings. The call can be accessed at Ryman's Investor Relations website or by calling 800-225-9448. RHP is known for its upscale convention center resorts and country music entertainment experiences, managing five of the largest non-gaming convention center hotels in the U.S., with over 10,000 rooms and significant meeting spaces.

Ryman Hospitality Properties (NYSE: RHP) announced a quarterly cash dividend of $0.10 per share, payable on October 17, 2022, to shareholders on record as of September 30, 2022. The new interim dividend policy sets a minimum dividend of 100% of REIT taxable income annually. Ryman reports strong demand in its hospitality business, with hotel performance surpassing 2019 levels for group room nights in August. The company's Board has reinstated the dividend, reflecting confidence in future growth.

Ryman Hospitality Properties (RHP) reported a strong Q2 2022, achieving net income of $50.3 million ($0.91/share) and a record Adjusted EBITDAre of $167.6 million, a 495.4% increase year-over-year. Revenue surged 175.2% to $470.2 million. The Hospitality segment posted operating income of $100.6 million with a 25% margin, driven by high occupancy at 72.7%. Future group bookings reached record ADR of $243, indicating robust demand. The company also raised its full-year guidance, reflecting confident market positioning despite ongoing challenges in group travel and advertising.

Ryman Hospitality Properties, Inc. (NYSE: RHP) announced it will release its Q2 2022 earnings results on August 1, 2022, after the market closes. A conference call will be held on August 2, 2022, at 10:00 a.m. ET to discuss the results. RHP specializes in upscale convention center resorts, particularly the Gaylord Hotels brand, which includes five of the largest non-gaming convention center hotels in the U.S. These hotels offer over 10,412 rooms and extensive meeting spaces. More information can be found on RHP's Investor Relations website.

Ryman Hospitality Properties (NYSE: RHP) has completed a strategic investment in its subsidiary, Opry Entertainment Group (OEG), by Atairos and NBCUniversal, valuing OEG at $1.415 billion. The partnership involves a 30% equity stake for a $296 million investment, with Atairos contributing $283 million and NBCUniversal $13 million. This transaction aims to support OEG's growth and reduce RHP's leverage, allowing for reinvestment in its hospitality business. RHP retains a 70% interest in OEG and expects to use proceeds to repay debt, enhancing financial flexibility.

Ryman Hospitality Properties has finalized its acquisition of Block 21 from Stratus Properties for approximately $260 million. This downtown Austin mixed-use complex features lodging, retail, office, and entertainment venues, including the W Austin Hotel and ACL Live at Moody Theater. The deal included assuming around $136 million in existing mortgage debt. CEO Colin Reed expressed optimism about leveraging partnerships with Atairos and NBCUniversal to enhance the site's appeal as a music destination.

Ryman Hospitality Properties (NYSE: RHP) will present to investors at the 2022 REITweek Conference in New York on June 8 at 2 p.m. ET. President Mark Fioravanti and CFO Jennifer Hutcheson will engage in discussions, alongside Senior VP Todd Siefert. The presentation will be webcast live and accessible via Ryman's investor relations website, with a replay available for 90 days. RHP specializes in upscale convention center resorts and country music experiences, operating significant venues like Gaylord Opryland and Opry Entertainment Group.