Ryman Hospitality Pptys Stock Price, News & Analysis
Company Description
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a lodging and hospitality real estate investment trust (REIT) that focuses on upscale convention center resorts and entertainment experiences. According to company disclosures, Ryman’s portfolio combines large group-oriented destination hotels in urban and resort markets with a collection of country music and live entertainment brands. The company’s common stock trades on the New York Stock Exchange under the symbol RHP.
Hospitality portfolio and group-focused resorts
The core of Ryman Hospitality Properties’ business is its Hospitality segment, which includes the Gaylord-branded convention center resorts and other large group-oriented hotel assets. 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
- Gaylord Rockies Resort & Convention Center
Ryman states that these five Gaylord properties are five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. In addition, the company owns the JW Marriott Phoenix Desert Ridge Resort & Spa and JW Marriott San Antonio Hill Country Resort & Spa, along with two ancillary hotels adjacent to its Gaylord Hotels properties.
The hotel portfolio is managed by Marriott International and, based on company descriptions, includes a combined total of 12,364 rooms and more than 3 million square feet of total indoor and outdoor meeting space in major convention and leisure destinations across the United States. Ryman characterizes its hotel assets as group-oriented, destination hotel assets in urban and resort markets, with performance metrics such as occupancy, average daily rate (ADR), revenue per available room (RevPAR), and total RevPAR regularly discussed in its financial reporting.
Entertainment segment and Opry Entertainment Group
Beyond lodging, Ryman Hospitality Properties owns an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG). The company reports that OEG is composed of entities owning a growing collection of iconic and emerging country music and live entertainment brands, including:
- Grand Ole Opry
- Ryman Auditorium
- WSM 650 AM
- Ole Red
- Category 10
- Nashville-area attractions
- Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and ACL Live at the Moody Theater in Austin, Texas
- A majority interest in Southern Entertainment, described as a leading festival and events business
Ryman operates OEG as its Entertainment segment in a taxable REIT subsidiary, and the results of this segment are consolidated into the company’s financial results. Company news also highlights development activity within OEG, such as the planned development of a second Category 10 location in the Flamingo Las Vegas Hotel & Casino complex.
Business model and segment structure
Ryman Hospitality Properties describes itself as a lodging and hospitality REIT specializing in upscale convention center resorts and entertainment experiences. The company’s business is organized into at least two primary reportable segments:
- Hospitality – includes the Gaylord Hotels properties, the JW Marriott Phoenix Desert Ridge Resort & Spa, the JW Marriott San Antonio Hill Country Resort & Spa, and ancillary hotels adjacent to Gaylord properties. This segment is identified in company disclosures as the source of the vast majority of the company’s revenue.
- Entertainment – consists of Opry Entertainment Group and its collection of country music, live entertainment, media, mixed-use, and festival assets, operated in a taxable REIT subsidiary.
Ryman’s financial reports frequently discuss measures such as Adjusted EBITDAre, Funds From Operations (FFO), and Adjusted FFO for both consolidated operations and the Hospitality segment. The company also reports detailed hospitality operating metrics, including same-store performance, group room nights booked, attrition, cancellations, and revenue mix between corporate and association group business.
Scale and positioning within the lodging and entertainment space
Based on its own descriptions, Ryman Hospitality Properties holds a specialized position in the U.S. lodging and entertainment market by combining large-scale, non-gaming convention center resorts with branded country music and live entertainment venues. The company emphasizes the size of its meeting and convention facilities, the group-oriented nature of its hotel portfolio, and the integration of entertainment brands that attract visitors to its destinations.
The company’s properties span top convention and leisure destinations across the United States, including large resorts in markets such as Phoenix and San Antonio, as well as high-profile entertainment venues in Nashville and Austin. Ryman’s disclosures highlight ongoing capital investments in its properties, including renovations of meeting spaces and guest rooms, and acquisitions such as the JW Marriott Phoenix Desert Ridge Resort & Spa.
Dividends and REIT characteristics
As a REIT, Ryman Hospitality Properties regularly discusses cash dividends on its common stock and corresponding distributions on partnership units in its operating partnership. Recent Form 8-K filings describe quarterly cash dividends per common share and corresponding distributions per OP Unit, along with record and payment dates. These filings also reference the company’s frozen defined benefit pension plan and regulatory treatment of certain dividends.
The company’s status as a REIT means that its financial communications focus on metrics commonly used in the real estate investment trust sector, such as FFO, Adjusted FFO, and EBITDAre-based measures, rather than only traditional net income metrics.
Stock listing and regulatory profile
Ryman Hospitality Properties, Inc. is incorporated in Delaware and files periodic reports and current reports with the U.S. Securities and Exchange Commission. Its common stock, with a par value of $0.01 per share, is listed on the New York Stock Exchange under the trading symbol RHP. SEC filings confirm that the company is not classified as an emerging growth company under applicable SEC rules.