Ryman Hospitality Properties, Inc. Reports Fourth Quarter and Full Year 2025 Results

Core Insights - Ryman Hospitality Properties, Inc. reported strong financial results for the full year 2025, with consolidated revenue reaching $2.6 billion, a 10.2% increase from 2024, and net income of $247.3 million, down 11.7% year-over-year [6][7]. Fourth Quarter 2025 Highlights and Recent Developments - The company achieved an all-time quarterly record consolidated revenue of $737.8 million, driven by record same-store Hospitality segment revenue of $578.2 million and Entertainment segment revenue of $109.5 million [6][7]. - Fourth quarter net income was $74.5 million, with consolidated Adjusted EBITDAre of $224.3 million, reflecting an 18.9% increase from the previous year [6][7]. - The company booked over 1.2 million same-store Hospitality Gross Definite Room Nights for future periods, with an estimated average daily rate (ADR) of approximately $299, a 6.1% increase year-over-year [6][7]. Full Year 2025 Highlights - The company declared total dividends of $4.65 per share for 2025, a 4.5% increase from 2024, and plans to pay a minimum of $4.80 per share in 2026 [6][7]. - Full year same-store Hospitality revenue was $2.05 billion, a 2.7% increase from 2024, with an ADR of approximately $292, up 3.5% from the previous year [6][7]. - The company generated record full year Adjusted EBITDAre of $794.7 million, a 4.9% increase from 2024 [6][7]. Hospitality Segment Performance - The Hospitality segment reported revenue of $628.3 million for the fourth quarter, a 14.3% increase from the previous year, and full year revenue of $2.14 billion, a 7.3% increase [10][11]. - Same-store Hospitality operating income for the fourth quarter was $125.9 million, a 14.2% increase year-over-year, while full year same-store operating income was $463.0 million [10][11]. - The same-store Hospitality portfolio achieved record full year RevPAR of approximately $184, a 3.1% increase from 2024 [16]. Entertainment Segment Performance - The Entertainment segment generated revenue of $109.5 million in the fourth quarter, an 11.6% increase from the previous year, and full year revenue of $434.0 million, a 26.8% increase [26][29]. - The company announced new growth opportunities, including two amphitheater venues and expansion of the Category 10 brand in Las Vegas and Orlando, indicating robust demand for live entertainment [29].