Core Viewpoint - Ryman Hospitality Properties, Inc. has successfully closed an upsized public offering of 2,990,000 shares of common stock, raising approximately $275 million to fund a portion of the acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa [1][3][4] Group 1: Offering Details - The shares were sold at a public price of $96.20 per share, including 390,000 shares from the underwriters' option exercised on May 20, 2025 [1] - The offering was managed by Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities as joint book-running managers, with additional bookrunners including Deutsche Bank Securities and others [2] Group 2: Use of Proceeds - The net proceeds from the offering will be contributed to RHP Hotel Properties, LP, which will use the funds to cover part of the $865 million purchase price for the Desert Ridge Acquisition [3] - The remaining purchase price will be funded through cash on hand and proceeds from a private placement of $625 million in senior notes, expected to yield approximately $614 million after expenses [4] Group 3: Company Overview - Ryman Hospitality Properties, Inc. is a leading real estate investment trust specializing in upscale convention center resorts and entertainment experiences, managing a portfolio that includes five of the largest non-gaming convention center hotels in the U.S. [6] - The company also has a controlling interest in Opry Entertainment Group, which includes iconic country music brands and various entertainment venues [6]

Core Viewpoint - Ryman Hospitality Properties, Inc. has successfully upsized and priced a private placement of $625 million in senior notes to fund a portion of the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa, with expected net proceeds of approximately $614 million after expenses [1][2]. Group 1: Notes Offering - The private placement of senior notes was increased from $600 million to $625 million, with a fixed interest rate of 6.500% due in 2033 [1]. - The notes will be senior unsecured obligations guaranteed by the company and its subsidiaries, which also guarantee existing credit facilities and other senior unsecured notes [1]. - The expected closing date for the notes offering is June 4, 2025, subject to customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the notes offering will be used to fund part of the $865 million purchase price for the Desert Ridge Acquisition and to cover related fees and expenses [2]. - The remaining balance for the Desert Ridge Acquisition will be financed through a public offering of 2,600,000 shares of common stock priced at $96.20 per share, which is expected to close on May 21, 2025 [2][3]. Group 3: Redemption Conditions - If the Desert Ridge Acquisition is not completed, the notes will be subject to a special mandatory redemption at 100% of the issue price plus any accrued interest [3]. - The completion of the notes offering is not contingent upon the Desert Ridge Acquisition, and vice versa [3]. Group 4: Company Overview - Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust specializing in upscale convention center resorts and entertainment experiences [6]. - The company owns several major properties, including Gaylord Opryland Resort & Convention Center and Gaylord Palms Resort & Convention Center, totaling 11,414 rooms and over 3 million square feet of meeting space [6][7]. - Ryman Hospitality also holds a controlling interest in Opry Entertainment Group, which includes iconic country music brands and entertainment venues [6][7].

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].

Core Viewpoint - Ryman Hospitality Properties, Inc. has announced an upsized public offering of common stock to fund a portion of the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa, with the offering size increased from 2.3 million shares to 2.6 million shares at a price of $96.20 per share [1][2]. Group 1: Offering Details - The offering will consist of 2,600,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 390,000 more shares [1]. - The expected closing date for the offering is around May 21, 2025, subject to customary closing conditions [1]. - The offering is being conducted under the Company's shelf registration statement on Form S-3, which became effective on June 5, 2023 [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be contributed to RHP Hotel Properties, LP, and will primarily fund a portion of the approximately $865 million purchase price for the Desert Ridge Acquisition [2]. - Any remaining funds from the offering will be allocated for general corporate purposes if the Desert Ridge Acquisition does not close [2]. Group 3: Underwriters - Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as active joint book-running managers for the offering [3]. - Other bookrunners include Deutsche Bank Securities, BTIG, Credit Agricole CIB, Scotiabank, SMBC Nikko, and Raymond James [3]. Group 4: Company Overview - Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust 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][7].

NASHVILLE, Tenn., May 19, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) today announced that it has commenced an underwritten registered public offering (the “Offering”) of 2,300,000 shares of its common stock, par value $0.01 per share. The Company expects to grant the underwriters a 30-day option to purchase up to 345,000 additional shares of common stock. The Company expects to contribute the net proceeds of the Offering to RHP Hotel Properties, LP (the “Operatin ...

Core Viewpoint - Ryman Hospitality Properties, Inc. has announced a definitive agreement to acquire the JW Marriott Phoenix Desert Ridge Resort & Spa for $865 million, which is expected to enhance long-term customer and shareholder value [1][2]. Acquisition Details - The acquisition price of $865 million represents a 12.7x Adjusted EBITDAre multiple based on the property's 2024 results [1]. - The acquisition is anticipated to be accretive to Adjusted FFO per fully diluted share for the year 2026 [1]. - The transaction is expected to close in the second or third quarter of 2025, subject to customary closing conditions [4]. Property Overview - JW Marriott Desert Ridge is situated on approximately 402 acres and features 950 guest rooms, including 81 suites, and around 243,000 square feet of meeting and event space [3]. - The resort includes amenities such as a 28,000-square-foot spa, seven dining options, a large water amenity, and two golf courses [3]. - The property has recently undergone nearly $100 million in capital investments, enhancing its facilities and guest experience [3]. Market Context - Phoenix is a top 10 meetings market in North America, with strong leisure demand and no new competitive supply under development [4]. - The city is served by Phoenix-Sky Harbor Airport, which is the 14th busiest in the U.S. and has plans for further expansion [4]. Strategic Fit - The acquisition aligns with the company's strategy to expand its portfolio of group-focused assets and is expected to create operating synergies with existing properties [2][3]. - The company has expressed confidence in the strength of forward bookings and the durability of its group business model, citing previous successful acquisitions [2].

Financial Data and Key Metrics Changes - Comparable hotel total RevPAR increased by 2.1% over 2023, driven by growth in food and beverage revenues and ancillary spending [14] - The company ended the year with $2.3 billion of total available liquidity, including $1.5 billion under its credit facility, and returned $844 million to stockholders through dividends and share repurchases [15][18] - The company invested nearly $550 million in capital expenditures in 2024 [15][17] Business Line Data and Key Metrics Changes - The acquisition of the Ritz Carlton Oahu Turtle Bay in 2024 expanded the company's presence in Hawaii, contributing to future growth expectations [10][11] - The company completed renovations to approximately 2,100 guest rooms and 213,000 square feet of meeting space in 2024 [17] Market Data and Key Metrics Changes - A slower recovery in Maui and moderating domestic leisure demand impacted RevPAR growth in 2024, with total RevPAR growing faster than RevPAR driven by room spending [16] Company Strategy and Development Direction - The company focuses on disciplined capital allocation, including acquisitions, reinvestment in the portfolio, share repurchases, and dividends [12][14] - The company maintains a strong investment-grade balance sheet, with 99% of its portfolio unencumbered by debt, providing flexibility for future investments [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for 2025 and beyond, despite heightened uncertainty in the macroeconomic environment [20] - The company believes its diversified portfolio and strong balance sheet will support performance in the coming years [20] Other Important Information - The company was recognized as a global leader in corporate responsibility, being included in the Dow Jones Best in Class World Index for the sixth consecutive year [19] Q&A Session Summary - No questions were received during the Q&A period, and all proposals, including the election of directors and the appointment of KPMG as auditors, were approved [22][23]

Core Viewpoint - Sotherly Hotels Inc. reported strong financial results for Q1 2025, with significant increases in net income and total revenues compared to the same period in 2024, despite some challenges in the hotel industry. Financial Performance - Total revenues for Q1 2025 were approximately $48.3 million, up from approximately $46.5 million in Q1 2024, representing a growth of 3.8% [2][3] - Net income attributable to common stockholders increased from a loss of approximately $0.7 million in Q1 2024 to income of approximately $2.7 million in Q1 2025, a change of about $3.4 million [2][3] - EBITDA for Q1 2025 was approximately $15.0 million, compared to approximately $10.8 million in Q1 2024, marking a significant increase [2][3] Key Operating Metrics - RevPAR for the composite portfolio increased by 5.0% to $129.74 in Q1 2025 from $123.59 in Q1 2024, driven by a 3.9% increase in occupancy to 68.8% [2][3] - Hotel EBITDA rose to approximately $12.9 million in Q1 2025, up from approximately $12.4 million in Q1 2024, reflecting a 4.5% increase [2][3] Balance Sheet and Liquidity - As of March 31, 2025, the company had approximately $32.8 million in available cash, with $21.3 million reserved for various expenses [5] - The company had outstanding debt of approximately $317.6 million at a weighted average interest rate of 5.88% [5] 2025 Outlook - The company provided guidance for 2025, projecting total revenues between $183.4 million and $188.2 million, with a net loss attributable to common stockholders ranging from $8.7 million to $7.8 million [6] - The guidance reflects macroeconomic uncertainties and potential volatility in hotel demand [6] Preferred Dividends - The company announced quarterly cash dividends for its preferred stock series, with payments scheduled for June 16, 2025 [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 ...

Financial Data and Key Metrics Changes - The company reported a comparable RevPAR of $400, reflecting a 4.2% increase year-over-year, marking the highest quarterly RevPAR in its history [7][8] - Comparable total hotel revenue increased by 4.4% year-over-year, while comparable hotel EBITDA was $70.8 million, representing a 5.3% increase [8][14] - The net loss attributable to common stockholders was $2.5 million, or $0.04 per diluted share, with AFFO per diluted share of $0.40 [14][15] Business Line Data and Key Metrics Changes - The resort portfolio reported a comparable RevPAR of $800, a 1.9% increase year-over-year, with combined comparable hotel EBITDA of $62 million, a 2% increase [9][10] - Urban hotels achieved a comparable RevPAR growth of 11.3%, with the Capitol Hilton benefiting from the presidential inauguration, showing a 19.3% year-over-year RevPAR growth [10][11] Market Data and Key Metrics Changes - The group revenue pace for 2025 is up 7%, with continued growth projected at 10% for 2026 [11][24] - The urban portfolio's comparable total revenue increased by 10%, and comparable hotel EBITDA increased by 39% year-over-year [24] Company Strategy and Development Direction - The company successfully extended its mortgage loan secured by the Ritz Carlton Lake Tahoe, improving its maturity schedule and lowering the cost of capital [11][12] - The company is focused on strategic capital expenditures, anticipating spending between $75 million and $95 million in 2025 to enhance portfolio quality and brand alignment [29][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the portfolio's resilience amid economic uncertainty, noting strong booking trends and a solid balance sheet [7][30] - The company highlighted the effectiveness of its cost control initiatives, resulting in improved hotel EBITDA margins [20][40] Other Important Information - The company redeemed approximately $90 million of its non-traded preferred stock, representing about 20% of the original capital raise [13] - The company is exploring asset sales, with increased buyer activity noted in the marketplace, particularly for upper upscale assets [52][53] Q&A Session Summary Question: Any trends in group bookings regarding cancellations or macroeconomic volatility? - Management noted that while the booking window is shortening slightly, there is no significant impact on group bookings, with Q1 group revenue up 31% year-over-year [32][33] Question: What is the company's exposure to international inbound business? - The company indicated that international inbound is a small part of the portfolio, with minimal impact observed, varying by market [34][36] Question: How does the company plan to grow EBITDA margins? - Management expressed optimism about margin growth, citing aggressive cost containment measures and productivity improvements [37][40] Question: Can you provide details on the Magnificent Mile conversion? - The conversion is expected to enhance asset value and performance, with minimal CapEx planned for public and meeting space renovations [41][42] Question: What is the status of preferred stock redemptions? - The company explained that redemptions are subject to timing and the structure of the security, with holders able to redeem after three years [46][49] Question: What is the outlook for asset sales and use of proceeds? - Management reported increased buyer activity and plans to utilize proceeds for preferred equity redemptions, share buybacks, and retiring corporate convertible notes [52][54]