Ryman Hospitality Properties, Inc. Provides Hospitality Business Update
December 21 2022 - 6:30PM
Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) a
leading lodging and hospitality real estate investment trust
(“REIT”) that specializes in upscale convention center resorts and
leading entertainment experiences, today provided the following
business update:
Colin Reed, Chairman and Chief Executive Officer of the Company
said, “We wanted to provide an update on our fourth quarter
Hospitality segment performance. Driven by our quarter-to-date
group results and the continued strength in our holiday
programming, including the return of ICE!, our Hospitality segment
is on track to achieve record ADR and deliver significant increases
in RevPAR and Total RevPAR, as compared to pre-pandemic levels.
“While we anticipated a strong end to 2022, the results seen
throughout our Hospitality segment have exceeded our expectations.
We were pleased that we could return to a full slate of holiday
offerings this year, and based on the way 2022 is coming to a
close, we believe our customers felt the same way. Based on our
quarter-to-date performance, our Hospitality segment Adjusted
EBITDAre results are trending toward the top end of our full year
guidance range.”
October and November Hospitality Segment Operating
Statistics
|
Total Occupancy |
|
Total ADR |
|
RevPAR |
|
Total RevPAR |
|
2022 |
2019 |
As % of '19 |
|
2022 |
2019 |
As % of '19 |
|
2022 |
2019 |
As % of '19 |
|
2022 |
2019 |
As % of '19 |
October |
74.1% |
79.7% |
92.9% |
|
$240.18 |
$210.07 |
114.3% |
|
$177.86 |
$167.43 |
106.2% |
|
$441.42 |
$418.16 |
105.6% |
November |
71.1% |
73.1% |
97.3% |
|
$242.19 |
$205.11 |
118.1% |
|
$172.30 |
$149.93 |
114.9% |
|
$462.07 |
$394.67 |
117.1% |
Reed continued, “As of December 20, 2022, the Hospitality
segment is on track to set a new monthly record for total revenue,
driven by strong leisure demand across the Gaylord Hotels brand. In
addition, our Opry Entertainment Group segment is benefitting from
these same leisure demand trends, with revenues exceeding 2019
levels.”
About Ryman Hospitality Properties,
Inc.Ryman Hospitality Properties, Inc. (NYSE: RHP) is
a leading lodging and hospitality real estate investment trust that
specializes in upscale convention center resorts and leading
entertainment experiences. RHP’s core holdings, 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, are five
of the top ten largest non-gaming convention center hotels
in the United States based on total indoor meeting space.
Our Hospitality segment is comprised of these convention center
resorts operating under the Gaylord Hotels brand, along with two
adjacent ancillary hotels, which are managed by Marriott
International and represent a combined total of 10,412 rooms and
more than 2.8 million square feet of total indoor and outdoor
meeting space in top convention and leisure destinations across the
country (as described below the W Austin Hotel is not included in
Hospitality segment). RHP also owns a 70% controlling ownership
interest in Opry Entertainment Group (OEG), which is
composed of entities owning a growing collection of iconic and
emerging country music brands, including the Grand Ole
Opry, Ryman Auditorium, WSM 650 AM, Ole Red and
Circle, a country lifestyle media network RHP owns in a joint
venture with Gray Television, Nashville-area attractions
managed by Marriott, and Block 21, a mixed-use entertainment,
lodging, office and retail complex, including the W Austin
Hotel and the ACL Live at Moody Theater, located in
downtown Austin, Texas. RHP operates OEG as its Entertainment
segment, in a taxable REIT subsidiary, and its results are
consolidated in the Company’s financial results.
Visit RymanHP.com for more information.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains statements as to the
Company’s beliefs and expectations of the outcome of future events
that are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by the fact that they do not relate strictly to
historical or current facts. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the statements made, including, but not
limited to, risks associated with the demand for travel and holiday
programming and transient and group business. Other factors that
could cause actual results to differ from the Company’s beliefs and
expectations as to the outcome of future events are described in
the filings made from time to time by the Company with
the U.S. Securities and Exchange Commission and include
the risk factors and other risks and uncertainties described in the
Company’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2021, and subsequent filings. Except
as required by law, 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 Contacts: |
Media Contacts: |
Mark Fioravanti, President |
Hillary Prim, Vice President of Corporate and Brand
Communications |
Ryman Hospitality Properties, Inc. |
Finn Partners |
(615) 316-6588 |
(615) 610-0293 |
mfioravanti@rymanhp.com |
hillary.prim@finnpartners.com |
~or~ |
~or~ |
Jennifer Hutcheson, Chief Financial Officer |
Robert Winters |
Ryman Hospitality Properties, Inc. |
Alpha IR Group |
(615) 316-6320 |
(929) 266-6315 |
jhutcheson@rymanhp.com |
robert.winters@alpha-ir.com |
~or~ |
|
Todd Siefert, Senior Vice President Corporate Finance &
Treasurer |
|
Ryman Hospitality Properties, Inc. |
|
(615) 316-6344 |
|
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