Core Points - Ryman Hospitality Properties, Inc. (RHP) will present at the 2025 REITweek Conference in New York on June 4, 2025, at 11:45 a.m. ET, with CEO Mark Fioravanti participating in an analyst-led roundtable discussion [1] - The presentation will be available via webcast on RHP's investor relations website, with a replay accessible for 30 days for those unable to attend live [2] - RHP specializes in upscale convention center resorts and entertainment experiences, owning five of the top seven largest non-gaming convention center hotels in the U.S. based on total indoor meeting space [3] Company Overview - RHP's portfolio includes 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, totaling 11,414 rooms and over 3 million square feet of meeting space [3] - The company holds a 70% controlling interest in Opry Entertainment Group, which includes iconic country music brands and venues such as the Grand Ole Opry and Ryman Auditorium [3] - RHP operates its entertainment segment through a taxable REIT subsidiary, consolidating its results in the company's financials [3]

NASHVILLE, Tenn., May 09, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties (NYSE: RHP) (the “Company”), today announced that the Board of Directors has authorized, and the Company has declared a second quarter cash dividend of $1.15 per share of common stock, to be paid on July 15, 2025, to stockholders of record as of June 30, 2025. About Ryman Hospitality Properties, Inc. Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes ...

Company Overview - Ryman Hospitality Properties operates as a REIT, focusing on group-oriented, destination hotel assets with a total of 9,917 rooms across five upscale resorts managed by Marriott under the Gaylord Hotels brand[72]. - Ryman owns a controlling approximate 70% equity interest in the Opry Entertainment Group, which includes various entertainment and media assets[74]. Financial Performance - Total revenues for the three months ended March 31, 2025, increased by 11.2% to $587,280, compared to $528,345 in the same period in 2024[95]. - Operating income improved by 20.5% to $116,121 for the three months ended March 31, 2025, compared to $96,381 in 2024[95]. - Net income increased by 47.4% to $63,014 for the three months ended March 31, 2025, compared to $42,761 in 2024[95]. - Hospitality segment revenues rose by 7.9% to $497,730 for the three months ended March 31, 2025, compared to $461,470 in 2024[103]. - Total revenue for the Hospitality segment increased by 6.1% to $110,178,000 in Q1 2025 compared to $103,835,000 in Q1 2024[110]. - Operating income for Gaylord Opryland rose by 21.2% to $30,098,000 in Q1 2025, up from $24,825,000 in Q1 2024[110]. - Gaylord National's total revenue surged by 18.4% to $80,829,000 in Q1 2025, compared to $68,274,000 in Q1 2024[111]. - The Entertainment segment's revenues increased by 33.9% to $89,550,000 in Q1 2025, up from $66,875,000 in Q1 2024[113]. - Operating income for the Entertainment segment grew by 68.8% to $10,316,000 in Q1 2025, compared to $6,112,000 in Q1 2024[113]. - Net income available to common stockholders per share increased by 49.3% to $1.00 for the three months ended March 31, 2025, compared to $0.67 in 2024[95]. Capital Expenditures and Investments - In 2024, Ryman completed a $98 million multi-year enhancement project at Gaylord Rockies and identified over $1 billion in capital investment opportunities across its hotel portfolio, expected to be completed in phases through 2027[80]. - The company has invested approximately $112.7 million in capital expenditures to enhance its existing properties[82]. - Capital expenditures for Q1 2025 totaled $112.7 million, primarily for renovations and developments at Gaylord Opryland[138]. - The company anticipates capital expenditures between $235 million and $335 million for the remainder of 2025[143]. Debt and Financing - The company has a $700 million revolving credit facility and a senior secured term loan B with an original principal amount of $500 million, reduced to $295 million as of March 28, 2024[149]. - As of March 31, 2025, there were no amounts outstanding under the revolving credit facility, with $700 million available[156]. - The term loan B has a maturity date of May 18, 2030, with $292.1 million in borrowings outstanding as of March 31, 2025[160]. - The company issued $1 billion in aggregate principal amount of 6.50% senior notes due 2032, with net proceeds totaling approximately $983 million[163]. - The company used a portion of the net proceeds from the senior notes to prepay $200 million under the term loan B[163]. - The company must maintain a consolidated net leverage ratio of not greater than 6.50x and a consolidated fixed charge coverage ratio of not less than 1.50x[151]. - The maturity date of the revolving credit facility is May 18, 2027, with options for extensions[154]. - The interest rate on the term loan B was Term SOFR plus 2.00% as of March 31, 2025[160]. - The company has no debt maturities until May 2027, allowing for potential refinancing before maturity[145]. - The Company completed a private placement of $600 million in aggregate principal amount of 4.50% senior notes due 2029, with a maturity date of February 15, 2029, and interest payable semi-annually[170]. - The Company also completed a private placement of $400 million in aggregate principal amount of 7.25% senior notes due 2028, with a maturity date of July 15, 2028, and interest payable semi-annually[172]. - As of March 31, 2025, the outstanding amount under the 2024 OEG Term Loan was $428.5 million, and $12.0 million was outstanding under the OEG Revolver[180]. - Estimated interest obligations through 2029 are projected to be $785 million, with $153.5 million for the remainder of 2025 and $197.7 million in 2026[185]. - At March 31, 2025, 85% of the Company's outstanding debt is fixed-rate debt, which helps mitigate the impact of increased interest rates[188]. - The Company assumed a $136 million Block 21 CMBS Loan, with $128.2 million outstanding as of March 31, 2025, which was defeased in full in April 2025[183]. - The 2024 OEG Credit Agreement includes a senior secured term loan facility of $300 million and a revolving credit facility not exceeding $80 million[178]. Cash Flow and Distributions - Net cash flows provided by operating activities increased significantly to $98.2 million in Q1 2025 from $7.5 million in Q1 2024[136][137]. - Cash distributions paid in Q1 2025 amounted to $70.3 million, similar to $67.1 million in Q1 2024[140][141]. - Unrestricted cash at March 31, 2025, was $413.9 million, with an additional $763.0 million available for borrowing[142]. - FFO available to common stockholders and unit holders increased to $122.902 million in Q1 2025 from $98.473 million in Q1 2024[135]. Operational Metrics - Key performance indicators for the hospitality segment include hotel occupancy, average daily rate (ADR), revenue per available room (RevPAR), and total revenue per available room (Total RevPAR)[89]. - Average Daily Rate (ADR) increased by 5.6% to $264.40 in the three months ended March 31, 2025, compared to $250.48 in 2024[100]. - Occupancy rate improved by 3.0 percentage points to 69.7% for the three months ended March 31, 2025, compared to 66.7% in 2024[103]. - Group room nights on the books for future years at March 31, 2025, are 5.0% higher than the same point in 2024, with estimated ADR also up by 5.6%[102]. Strategic Goals - Ryman's long-term growth strategy includes acquisitions or developments of hotels, particularly in the group meetings sector, with a focus on assets with over 400 hotel rooms in urban and resort markets[79]. - Ryman's strategic goal is to be the nation's premier hospitality REIT for group-oriented meeting hotel assets in urban and resort markets[77]. Accounting and Risk Management - The company prepares its financial statements in accordance with GAAP, applying significant judgment in accounting policies related to asset impairment and credit losses[192]. - No newly identified critical accounting policies were reported in the first three months of 2025, nor were there material changes to existing policies[194]. - There have been no material changes in the company's quantitative and qualitative market risks since December 31, 2024[195].

Ryman Hospitality Properties (RHP) Q1 2025 Earnings Call May 02, 2025 12:00 PM ET Company Participants Jennifer Hutcheson - Executive VP & CFOColin Reed - Executive Chairman of the Board of DirectorsMark Fioravanti - President and CEOPatrick Chaffin - Executive VP & COO - HotelsJack Armstrong - Equity Research AssociatePatrick Moore - CEODuane Pfennigwerth - Senior MDSmedes Rose - DirectorAri Klein - Director - Equity ResearchDavid Katz - Managing DirectorJay Kornreich - VP - Equity ResearchJohn Decree - Di ...

Financial Data and Key Metrics Changes - The company reported a consolidated revenue increase of 11% year over year, with adjusted EBITDAre rising by 15% and AFFO per fully diluted share increasing by 28% [15][25]. - Hospitality segment achieved record first quarter revenue and adjusted EBITDAre, driven by RevPAR and total RevPAR growth of 109% year over year [15][16]. - ADR reached a first quarter record of $264, up nearly 6% compared to the previous year [16]. Business Line Data and Key Metrics Changes - The Hospitality segment's revenue and adjusted EBITDAre were driven by strong growth in both group and transient segments, with outside room spending from group customers slightly better than anticipated [17][19]. - The Entertainment segment generated a revenue growth of 34% year over year, with adjusted EBITDAre increasing by 35% [16]. Market Data and Key Metrics Changes - Gross group room nights booked for future years increased by 10% year over year, with significant strength in bookings for 2026 and 2027, which were up 133% and 135% respectively [21]. - The company noted a decline in consumer confidence but highlighted that the consumer segments served continued to show strength in the first quarter [17]. Company Strategy and Development Direction - The company is focusing on long-term value creation while managing short-term dynamics, with a proactive approach to margin management and operational efficiencies [11][24]. - The acquisition of Southern Entertainment is seen as an opportunity to expand the live entertainment segment and enhance brand synergy across venues [53][56]. Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the near-term outlook due to economic uncertainties, particularly related to government business and group demand [6][11]. - The company has slightly modified its guidance for hospitality RevPAR and total RevPAR, reflecting expectations of weaker group business volumes compared to previous assumptions [25][27]. Other Important Information - The company ended the first quarter with $414 million in unrestricted cash and a total available liquidity of approximately $1.2 billion [30]. - Capital expenditures expectations for 2025 have been lowered to a range of $350 million to $450 million, based on updated construction timelines [31]. Q&A Session Summary Question: How short-term is the hesitancy being seen in bookings? - Management noted that while there is uncertainty, recent April production numbers showed a marked improvement in lead volumes for in-the-year bookings, indicating a potential recovery [38][39]. Question: What allows the company to maintain EBITDA guidance despite lower RevPAR? - The company has implemented profit improvement plans early in the year, which have helped safeguard margins and maintain guidance [46][48]. Question: Can you elaborate on the strategy behind the acquisition of Southern Entertainment? - The acquisition is aimed at increasing the opportunity set for live venues and enhancing the overall brand experience across different events [53][56]. Question: What is the government exposure across the portfolio? - The company indicated that government business is not a significant portion of its overall bookings, and stress testing showed resilience even if all government business were to cancel [92][93]. Question: How does the company plan to handle cancellations and rebooking? - Management plans to be more aggressive in collecting cancellation fees compared to previous crises, while still working with customers to find mutually beneficial solutions [100][101].

Ryman Hospitality Properties (RHP) Q1 2025 Earnings Call May 02, 2025 12:00 PM ET Company Participants Jennifer Hutcheson - Executive VP & CFOColin Reed - Executive Chairman of the Board of DirectorsMark Fioravanti - President and CEOPatrick Chaffin - Executive VP & COO - HotelsJack Armstrong - Equity Research AssociatePatrick Moore - CEODuane Pfennigwerth - Senior MDSmedes Rose - DirectorAri Klein - Director - Equity ResearchDavid Katz - Managing DirectorJay Kornreich - VP - Equity ResearchJohn Decree - Di ...

Financial Performance - The company reported record consolidated revenue of $587.3 million for Q1 2025, an increase of 11.2% compared to Q1 2024[4] - Consolidated net income for Q1 2025 was $63.0 million, reflecting a 47.4% increase from $42.8 million in Q1 2024[4] - Adjusted EBITDAre for the quarter was $185.5 million, a 15.2% increase compared to $161.1 million in the prior year[4] - Total revenues for Q1 2025 reached $587.3 million, a 11.1% increase from $528.3 million in Q1 2024[51] - Net income available to common stockholders for Q1 2025 was $62.96 million, compared to $43.06 million in Q1 2024, reflecting a 46.0% year-over-year increase[51] - The company reported a basic income per share of $1.05 for Q1 2025, up from $0.72 in Q1 2024, representing a 45.8% increase[51] - The company reported an operating loss of $26,000 for The Inn at Opryland, an improvement from a loss of $359,000 in the same quarter last year[59] Segment Performance - Hospitality segment revenue reached $497.7 million, up 7.9% year-over-year, while the entertainment segment generated $89.6 million[4] - The hospitality segment achieved a RevPAR growth of 10.2% and Total RevPAR growth of 9.1% compared to the prior year[13] - The Entertainment segment saw a significant revenue increase of 33.9%, reaching $89,550,000, up from $66,875,000[18] - Gaylord Rockies reported revenue of $70,948,000 for Q1 2025, an increase of 11.2% from $63,822,000 in Q1 2024[16] - JW Marriott Hill Country achieved revenue of $55,276,000, reflecting a 10.7% growth compared to $49,941,000 in the same quarter last year[17] - Gaylord National reported revenue of $80,829,000 for Q1 2025, up from $68,274,000 in Q1 2024, representing a 18.5% increase[59] Cash Flow and Liquidity - The company reported a 24.8% increase in Funds From Operations (FFO) available to common stockholders and unit holders, totaling $122.9 million[6] - The company maintains a strong liquidity position with $763.0 million available under its revolving credit facilities[28] - As of March 31, 2025, the company had unrestricted cash of $413.9 million and total debt of $3,375.0 million[28] - The company’s cash and cash equivalents decreased to $413.9 million from $477.7 million at the end of 2024, indicating a 13.3% decline[53] Guidance and Outlook - The company is lowering its full-year outlook for Hospitality RevPAR and Total RevPAR growth due to macroeconomic uncertainty affecting group demand[4] - The guidance for Adjusted EBITDAre for the full year 2025 is set between $749,000,000 and $801,000,000, with a midpoint of $775,000,000[64] - The guidance for full year 2025 indicates net income available to common stockholders and unit holders is projected to be between $237,250,000 and $255,000,000, with a midpoint of $246,125,000[66] - The operating income for the hospitality segment is expected to range from $444,000,000 to $468,000,000 for 2025[64] Expenses and Costs - Total hotel operating expenses increased to $326.8 million in Q1 2025 from $309.1 million in Q1 2024, marking a 5.7% rise[51] - The company’s interest expense decreased to $54.3 million in Q1 2025 from $60.4 million in Q1 2024, a reduction of 10.5%[51] - The full-year impact of construction disruption is estimated to reduce RevPAR by 250 to 350 basis points and Total RevPAR by 200 to 300 basis points[21] - Depreciation and amortization expenses are projected to be between $262,625,000 and $280,000,000, with a midpoint of $271,313,000[66] Strategic Investments - Opry Entertainment Group made a strategic investment in Southern Entertainment, a leading independent festival and live event operator[4] - The company continues to focus on strategic goals as a REIT, emphasizing the importance of cash flows to support dividends and operational stability[33]

For the quarter ended March 2025, Ryman Hospitality Properties (RHP) reported revenue of $587.28 million, up 11.2% over the same period last year. EPS came in at $2.08, compared to $0.67 in the year-ago quarter.The reported revenue represents a surprise of +7.37% over the Zacks Consensus Estimate of $546.99 million. With the consensus EPS estimate being $1.79, the EPS surprise was +16.20%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Ryman Hospitality Properties (RHP) came out with quarterly funds from operations (FFO) of $2.08 per share, beating the Zacks Consensus Estimate of $1.79 per share. This compares to FFO of $1.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 16.20%. A quarter ago, it was expected that this hotel and resort real estate investment trust would post FFO of $2.20 per share when it actually produced FFO of $2.15, delivering a surprise of ...

NASHVILLE, Tenn., May 01, 2025 (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 three months ended March 31, 2025. First Quarter 2025 Highlights and Recent Developments: The Company reported first quarter records for consolidated revenue of $587.3 million, Hospitality segment revenue of $497.7 million and Entertainme ...