Ryman Hospitality Properties, Inc. Provides Update on Status of Gaylord National Following Water Outage in Prince George’s ...
July 18 2013 - 1:05PM
Business Wire
The Washington Suburban Sanitary Commission (WSSC) has informed
Ryman Hospitality Properties that the water emergency in southern
Prince George’s County has been averted. As a result, the Company’s
hotel manager, Marriott International, began accepting guests
beginning Thursday, July 18 at 10:00 a.m. EDT. Operations will ramp
up over the course of the next few days, as water conservation
efforts remain in effect. Full operations of all facilities and
services are expected to be in place by Saturday, July 20.
As previously announced by the Company, following communication
from the WSSC that the water shutdown was a certainty, a
significant effort was made to relocate scheduled guests. Where
possible, arrangements are now being made for these guests to stay
at the property as originally planned.
At this time, it is too early to assess the financial impact of
the loss of revenue and profitability associated with the temporary
suspension of operations at the Gaylord National on Ryman
Hospitality Properties’ results as a whole.
About Ryman Hospitality Properties,
Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP), is a real estate
investment trust for federal income tax purposes, specializing in
group-oriented, destination hotel assets in urban and resort
markets. The Company’s owned assets include a network of four
upscale, meetings-focused resorts totaling 7,795 rooms that are
managed by world-class lodging operator Marriott International,
Inc. under the Gaylord Hotels brand. Other owned assets managed by
Marriott International, Inc. include Gaylord Springs Golf Links,
the Wildhorse Saloon, the General Jackson Showboat and the Inn at
Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland.
The Company also owns and operates a number of media and
entertainment assets, including the Grand Ole Opry (opry.com), the
legendary weekly showcase of country music’s finest performers for
nearly 90 years; the Ryman Auditorium, the storied former home of
the Grand Ole Opry located in downtown Nashville; and WSM-AM, the
Opry’s radio home.
This press release contains statements as to the Company's
beliefs and expectations of the outcome of future events, including
the expected timing of reopening the hotel and services, which are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the statements made. These include the
risks and uncertainties associated with the suspension of
operations at the Gaylord National hotel and the timing of
reopening, which will depend on the actions of third parties
including The Washington Suburban Sanitary Commission and Prince
George’s County, Maryland and the difficulty, timing and success of
their water main repair effort; the extent and amount of any costs
or losses incurred by the Company in connection with the suspension
of operations and reopening; and potential damage to the business
and reputation of the hotel or the Company related to the
interruption of business. Other factors that could cause operating
and financial results to differ are described in the filings made
from time to time by the Company with the Securities and Exchange
Commission and include the risk factors described in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2012 and
Quarterly Reports on Form 10-Q. The Company does not undertake any
obligation to release publicly any revisions to forward-looking
statements made by it to reflect events or circumstances occurring
after the date hereof or the occurrence of unanticipated
events.
Investor Relations:Ryman Hospitality Properties, Inc.Mark
Fioravanti, Executive Vice President and Chief Financial
Officer615-316-6588mfioravanti@rymanhp.comorRyman
Hospitality Properties, Inc.Todd Siefert, Vice President of
Corporate Finance &
Treasurer615-316-6344tsiefert@rymanhp.comorMedia:Ryman
Hospitality Properties, Inc.Brian Abrahamson, Vice President of
Corporate
Communications615-316-6302babrahamson@rymanhp.comorSloane
& CompanyDan Zacchei,
212-446-1882dzacchei@sloanepr.com
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