Ryman Hospitality Properties, Inc. Announces Offering of 2,300,000 Shares of Common Stock
Ryman Hospitality Properties (NYSE: RHP) has announced a public offering of 2,300,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 345,000 shares. The net proceeds will primarily fund the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona.
The remaining acquisition costs will be covered through a combination of cash on hand and debt financing. Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are serving as joint book-running managers for the offering. The offering will proceed regardless of the Desert Ridge acquisition's completion, with proceeds redirecting to general corporate purposes if the acquisition falls through.
Ryman Hospitality Properties (NYSE: RHP) ha annunciato un'offerta pubblica di 2.300.000 azioni ordinarie, con un'opzione aggiuntiva di 30 giorni per gli underwriter di acquistare fino a 345.000 azioni. Il ricavato netto sarà principalmente destinato a finanziare l'acquisizione da 865 milioni di dollari del JW Marriott Phoenix Desert Ridge Resort & Spa a Phoenix, Arizona.
I costi rimanenti dell'acquisizione saranno coperti tramite una combinazione di liquidità disponibile e finanziamenti tramite debito. Morgan Stanley, BofA Securities, J.P. Morgan e Wells Fargo Securities agiscono come joint book-running manager per l'offerta. L'offerta procederà indipendentemente dal completamento dell'acquisizione di Desert Ridge, e in caso di mancato perfezionamento i proventi saranno destinati a scopi aziendali generali.
Ryman Hospitality Properties (NYSE: RHP) ha anunciado una oferta pública de 2.300.000 acciones ordinarias, con una opción adicional de 30 días para que los suscriptores compren hasta 345.000 acciones. Los ingresos netos se destinarán principalmente a financiar la adquisición de 865 millones de dólares del JW Marriott Phoenix Desert Ridge Resort & Spa en Phoenix, Arizona.
Los costos restantes de la adquisición se cubrirán mediante una combinación de efectivo disponible y financiamiento con deuda. Morgan Stanley, BofA Securities, J.P. Morgan y Wells Fargo Securities actúan como gestores conjuntos del libro de órdenes para la oferta. La oferta seguirá adelante independientemente de la finalización de la adquisición de Desert Ridge, y si esta no se concreta, los ingresos se redirigirán a fines corporativos generales.
Ryman Hospitality Properties (NYSE: RHP)가 2,300,000주의 보통주 공개 매출을 발표했으며, 인수인들이 추가로 30일간 최대 345,000주를 매수할 수 있는 옵션도 포함되어 있습니다. 순수익은 주로 애리조나주 피닉스에 위치한 JW Marriott Phoenix Desert Ridge Resort & Spa의 8억 6,500만 달러 인수 자금으로 사용될 예정입니다.
나머지 인수 비용은 보유 현금과 부채 자금 조달을 통해 충당할 계획입니다. Morgan Stanley, BofA Securities, J.P. Morgan, Wells Fargo Securities가 공동 주관사로 참여합니다. 이번 공모는 Desert Ridge 인수 완료 여부와 관계없이 진행되며, 인수가 무산될 경우 수익금은 일반 기업 목적에 사용됩니다.
Ryman Hospitality Properties (NYSE : RHP) a annoncé une offre publique de 2 300 000 actions ordinaires, avec une option supplémentaire de 30 jours permettant aux souscripteurs d'acheter jusqu'à 345 000 actions. Les produits nets seront principalement utilisés pour financer l'acquisition de 865 millions de dollars du JW Marriott Phoenix Desert Ridge Resort & Spa à Phoenix, Arizona.
Les coûts restants de l'acquisition seront couverts par une combinaison de trésorerie disponible et de financement par dette. Morgan Stanley, BofA Securities, J.P. Morgan et Wells Fargo Securities agissent en tant que gestionnaires conjoints de l'offre. L'offre se déroulera indépendamment de la finalisation de l'acquisition de Desert Ridge ; si celle-ci ne se réalise pas, les fonds seront redirigés vers des fins générales d'entreprise.
Ryman Hospitality Properties (NYSE: RHP) hat eine öffentliche Platzierung von 2.300.000 Stammaktien angekündigt, mit einer zusätzlichen 30-tägigen Option für die Underwriter, bis zu 345.000 Aktien zu kaufen. Die Nettoerlöse werden hauptsächlich zur Finanzierung der 865 Millionen Dollar teuren Übernahme des JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona, verwendet.
Die verbleibenden Akquisitionskosten werden durch eine Kombination aus vorhandenen Barmitteln und Fremdfinanzierung gedeckt. Morgan Stanley, BofA Securities, J.P. Morgan und Wells Fargo Securities fungieren als gemeinsame Bookrunner der Platzierung. Das Angebot wird unabhängig vom Abschluss der Desert Ridge-Übernahme durchgeführt; falls die Akquisition nicht zustande kommt, werden die Erlöse für allgemeine Unternehmenszwecke verwendet.
- Strategic expansion into Phoenix market with acquisition of premium JW Marriott property
- Multiple financing options available for the remaining acquisition cost, showing financial flexibility
- Strong underwriting support from major financial institutions
- Potential dilution for existing shareholders through new share issuance
- Significant debt increase likely to fund remaining acquisition costs
- Risk of proceeds being used for general corporate purposes if acquisition fails
Insights
Ryman's 2.3M share offering will dilute existing shareholders but funds strategic $865M Desert Ridge resort acquisition, strengthening their luxury hotel portfolio.
Ryman Hospitality Properties has announced a significant 2.3 million share public offering with an additional 345,000 share option for underwriters. This equity raise has important implications for both existing shareholders and the company's growth strategy. The dilutive effect is substantial but serves a strategic purpose: funding a portion of their
The transaction structure reveals Ryman's disciplined capital allocation approach, using a balanced mix of equity and debt financing. Rather than funding the entire acquisition with debt, which would increase leverage ratios, management is prudently maintaining financial flexibility by issuing equity. This indicates confidence in their ability to integrate the luxury Desert Ridge property into their portfolio while preserving balance sheet strength.
What's particularly notable is that the offering will proceed regardless of whether the Desert Ridge acquisition closes, with proceeds redirected to general corporate purposes if needed. This suggests management sees value in raising capital at current market prices. The involvement of top-tier underwriters (Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo) lends additional credibility to the offering.
For investors, this offering represents Ryman's continued strategic pivot toward owning premium hospitality assets. The scale of this acquisition is significant and adds geographic diversification to their portfolio with a luxury property in the growing Phoenix market. The company's willingness to deploy substantial capital signals confidence in the hospitality sector's long-term prospects, particularly in the luxury segment where they're focusing expansion efforts.
NASHVILLE, Tenn., May 19, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) today announced that it has commenced an underwritten registered public offering (the “Offering”) of 2,300,000 shares of its common stock, par value
The Company expects to contribute the net proceeds of the Offering to RHP Hotel Properties, LP (the “Operating Partnership”). The Operating Partnership intends to use all of the net proceeds of the Offering to fund a portion of the approximately
Morgan Stanley, BofA Securities, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed or as to the final size or terms of the Offering.
The Offering is being conducted pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-272429), which automatically became effective upon filing with the Securities and Exchange Commission (the “SEC”) on June 5, 2023. The Offering is being made solely by means of a prospectus supplement and an accompanying base prospectus. The preliminary prospectus supplement and accompanying base prospectus relating to, and describing the terms of, the Offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying base prospectus may be obtained from (1) Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department; (2) BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com; (3) J.P. Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com or (4) Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company’s holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company’s hotel portfolio is managed by Marriott International and includes a combined total of 11,414 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the Desert Ridge Acquisition and the anticipated use of the net proceeds of the Offering by the Company. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the Desert Ridge Acquisition and the Offering including, but not limited to, the occurrence of any event, change or other circumstance that could delay the closing of the Desert Ridge Acquisition or the Offering, or result in the termination of the Offering or the transaction agreement for the Desert Ridge Acquisition; and adverse effects on the Company’s common stock because of the failure to complete the Desert Ridge Acquisition or the Offering. Other factors that could cause results to differ are described in the filings made from time to time by the Company with the SEC and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, and subsequent filings, including the Current Report on Form 8-K filed May 19, 2025. Except as required by law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
| Investor Relations Contacts: | Media Contact: |
| Mark Fioravanti, President and Chief Executive Officer | Shannon Sullivan, Vice President Corporate and Brand Communications |
| Ryman Hospitality Properties, Inc. | Ryman Hospitality Properties, Inc. |
| (615) 316-6588 | (615) 316-6725 |
| mfioravanti@rymanhp.com | ssullivan@rymanhp.com |
| ~or~ | |
| Jennifer Hutcheson, Chief Financial Officer | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6320 | |
| jhutcheson@rymanhp.com | |
| ~or~ | |
| Sarah Martin, Vice President, Investor Relations | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6011 | |
| sarah.martin@rymanhp.com |
FAQ
How many shares is RHP offering in its May 2025 public offering?
What is the purpose of Ryman Hospitality Properties' 2025 stock offering?
Who are the underwriters for RHP's 2025 stock offering?
How will RHP finance the remaining cost of the Desert Ridge acquisition?
What happens to the proceeds if RHP's Desert Ridge acquisition fails?
