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Ryman Hospitality Properties(RHP) - 2021 Q4 - Earnings Call Transcript
2022-02-25 18:10
Financial Data and Key Metrics Changes - The company generated total revenue of $377.4 million in Q3 2021, with a net loss of $6 million or $0.11 per fully diluted share [46] - The company reported a positive consolidated adjusted EBITDA of $85.6 million for Q3 2021, marking the third consecutive quarter of positive EBITDA since Q1 2020 [46] - The hotel margin performance was 53%, with hotel occupancy down 23 points compared to Q4 2019 [47] Business Line Data and Key Metrics Changes - In Q4 2021, the company hosted over 272,000 leisure transient room nights, a 2.4% increase over Q4 2019, with an ADR over 25% higher than the same period in 2019 [11][12] - Group room nights totaled almost 236,000, about 54% of Q4 2019 levels, with $20 million collected in attrition and cancellation fees due to Delta variant cancellations [14][15] - The company booked 993,000 room nights in Q4 2021, up 74% from Q4 2020, and down less than 1% from Q4 2019 [24] Market Data and Key Metrics Changes - The company experienced a significant drop in group cancellations due to the Omicron variant, with approximately 177,000 room night cancellations attributed to this wave [16][19] - The average daily new COVID-19 cases fell over 87% from the peak on January 14, indicating a potential recovery in the market [10] Company Strategy and Development Direction - The company plans to invest approximately $200 million in new unit and enhancement opportunities across both hotel and entertainment businesses [56] - The company has invested hundreds of millions into its hotel portfolio over the last few years, enhancing competitive positioning [32][37] - The company is focused on sustaining leisure business and driving rate growth, with expectations to redefine profitability opportunities for its hotels [72][74] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery trajectory, expecting normalized levels of occupancy and business mix as the year progresses [54] - The company anticipates that the second half of 2022 will show improved performance, with strong leisure demand and group lead volumes [30][54] - Management noted that the recent Omicron cancellations had a shorter cancellation window compared to previous waves, indicating a quicker return to normalcy [20][21] Other Important Information - The company announced the expansion of its board with the addition of two new members, enhancing governance and strategic oversight [44][45] - The company is committed to nurturing its entertainment business, which is seen as a valuable asset, while also focusing on maximizing shareholder value [43] Q&A Session Summary Question: Can you discuss the second half recovery cadence and expectations for overall profitability? - Management highlighted the importance of sustaining leisure business and maintaining rate growth to improve margins in the second half of the year [63][64] Question: How quickly can you adjust pricing on corporate and association contracts? - Management indicated that they have significant control over pricing and are aggressively pushing rates, especially in the transient segment [79][81] Question: What are the financing options for upcoming capital expenditures? - Management mentioned that equity financing is an option, but they expect to generate substantial free cash flow as business recovers, providing multiple financing avenues [90][92] Question: Can you take pricing increases on non-room offerings? - Management confirmed that they can adjust pricing on food and beverage offerings in real-time, utilizing various strategies to manage costs and pricing [101][103]
Ryman Hospitality Properties(RHP) - 2021 Q3 - Earnings Call Transcript
2021-11-02 19:18
Ryman Hospitality Properties, Inc. (NYSE:RHP) Q3 2021 Earnings Conference Call November 2, 2021 10:00 AM ET Company Participants Mark Fioravanti - President & Chief Financial Officer Colin Reed - Chairman & Chief Executive Officer Patrick Chaffin - Chief Operating Officer Conference Call Participants Bill Crow - Raymond James Shaun Kelley - Bank of America Smedes Rose - Citigroup Dori Kesten - Wells Fargo Chris Woronka - Deutsche Bank Patrick Scholes - Truist Securities Operator Welcome to Ryman Hospitality ...
Ryman Hospitality Properties(RHP) - 2021 Q3 - Quarterly Report
2021-11-02 18:58
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13079 RYMAN HOSPITALITY PROPERTIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 73-0664379 (State or Other Jurisdicti ...
Ryman Hospitality Properties(RHP) - 2021 Q2 - Earnings Call Presentation
2021-08-16 18:56
Ryman Hospitality Properties, Inc. Reports Second Quarter 2021 Results August 3, 2021 NASHVILLE, Tenn., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a lodging real estate investment trust ("REIT") specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Highlights and Recent Developments: Net Loss in second quarter improved sequentially to $(63.0) ...
Ryman Hospitality Properties(RHP) - 2021 Q2 - Earnings Call Transcript
2021-08-03 20:25
Ryman Hospitality Properties, Inc. (NYSE:RHP) Q2 2021 Earnings Conference Call August 3, 2021 10:00 AM ET Company Participants Mark Fioravanti - President & CFO Colin Reed - Chairman and Chief Executive Officer Patrick Chaffin - COO Scott Bailey - President of Opry Entertainment Group Conference Call Participants Shaun Kelley - Bank of America Smedes Rose - Citi Chris Woronka - Deutsche Bank Dori Kesten - Wells Fargo Operator Hello. Welcome to Ryman Hospitalities Properties Second Quarter 2021 Earnings Conf ...
Ryman Hospitality Properties(RHP) - 2021 Q2 - Quarterly Report
2021-08-03 17:02
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13079 RYMAN HOSPITALITY PROPERTIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 73-0664379 (State or Other Jurisdiction of ...
Ryman Hospitality Properties(RHP) - 2021 Q1 - Earnings Call Transcript
2021-05-04 21:07
Ryman Hospitality Properties, Inc. (NYSE:RHP) Q1 2021 Earnings Conference Call May 4, 2021 10:00 AM ET Company Participants Mark Fioravanti - President & CFO Colin Reed - Chairman and Chief Executive Officer Patrick Chaffin - Chief Operating Officer Conference Call Participants Shaun Kelly - Bank of America Smedes Rose - Citi Chris Woronka - Deutsche Bank Bill Crow - Raymond James Operator Welcome to Ryman Hospitality Properties First Quarter 2021 Earnings Conference Call. Hosting the call today from Ryman ...
Ryman Hospitality Properties(RHP) - 2021 Q1 - Earnings Call Presentation
2021-05-04 16:40
les 2 NASAL Ryman Hospitality Properties. Inc. Investor Update May 3, 2021 2 RYMAN HOSPITALITY PROPERTIES, INC. This presentation contains "forward-looking statements" of Ryman Hospitality Properties, Inc. (the "Company") that are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. 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 limite ...
Ryman Hospitality Properties(RHP) - 2021 Q1 - Quarterly Report
2021-05-04 16:12
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13079 RYMAN HOSPITALITY PROPERTIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 73-0664379 (State or Other Jurisdiction o ...
Ryman Hospitality Properties(RHP) - 2020 Q4 - Earnings Call Transcript
2021-02-26 20:02
Ryman Hospitality Properties, Inc. (NYSE:RHP) Q4 2020 Results Earnings Conference Call February 26, 2021 10:00 AM ET Company Participants Colin Reed - Chairman and CEO Mark Fioravanti - President and CFO Patrick Chaffin - Chief Operating Officer Scott Bailey - President Opry Entertainment Group Conference Call Participants Smedes Rose - Citi Chris Woronka - Deutsche Bank Dori Kesten - Wells Fargo Shaun Kelley - Bank of America Bill Crow - Raymond James Operator Welcome to Ryman Hospitality Properties Fourth ...