Ryman Hospitality Properties, Inc. Announces Proposed $600 Million Senior Notes Offering

Core Viewpoint - Ryman Hospitality Properties, Inc. plans to offer up to $600 million in senior notes to fund part of the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa and related expenses [1][2]. Group 1: Offering Details - The senior notes will be due in 2033 and will be senior unsecured obligations guaranteed by the company and its subsidiaries [1]. - The net proceeds from the offering will be used to cover approximately $865 million of the acquisition price for the Desert Ridge property [2]. - The offering is not contingent upon the completion of the Desert Ridge Acquisition and will occur before its completion [3]. Group 2: Acquisition Funding - The remaining balance for the Desert Ridge Acquisition will be funded through a public offering of 2,600,000 shares of common stock priced at $96.20 per share, along with cash on hand [2]. - The Common Stock Offering is expected to close on May 21, 2025, subject to customary conditions [3]. Group 3: Regulatory Compliance - The notes will be offered only to qualified institutional buyers and certain non-U.S. persons, in compliance with Rule 144A and Regulation S under the Securities Act [4]. - The notes have not been registered under the Securities Act and will not be sold in the U.S. without registration or an exemption [4]. Group 4: Company Overview - Ryman Hospitality Properties, Inc. is a leading lodging and hospitality REIT specializing in upscale convention center resorts and entertainment experiences [6]. - The company owns several major properties, including Gaylord Opryland Resort & Convention Center and JW Marriott San Antonio Hill Country Resort & Spa, totaling 11,414 rooms and over 3 million square feet of meeting space [6].