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Ryman Hospitality Properties
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Latest analysis
Updated Nov 3, 2026
Ryman Q3 2026: Record Same-Store RevPAR Up 7.9%, Grande Lakes Closed, 2027 Group Revenue Pace 4.5% Ahead
Ryman Hospitality Properties delivered record Q3 2026 same-store hospitality results, with RevPAR and total RevPAR beating expectations by approximately 400 basis points each, and same-store Adjusted EBITDAre exceeding guidance by $7 million. The quarter was anchored by group ADR growth of 3.5%, banquet and AV revenue growth of 14%, and leisure outperformance at Gaylord National and Gaylord Texan following its room renovation. The acquisition of Grande Lakes Orlando — announced, funded, and closed in Q3 — adds a premium group resort in the top U.S. meetings market and extends the JW Marriott rotational strategy, while full-year AFFO per share guidance now implies nearly 10% growth at the midpoint despite only four months of Grande Lakes contribution and equity dilution from the associated share issuance.
Tone: bullishRevenue
$2.6B
RHP 10-K · FY 2025
Employees
1,819
Revenue FY2024
$2.3B
Founded
1956
Profile
RHP 10-K Item 1 · Feb 24, 2026Ryman Hospitality Properties is a self-advised REIT specializing in group-oriented, destination hotel assets in urban and resort markets, operating under the Gaylord Hotels and JW Marriott brands managed by Marriott International. The company also owns an approximate 70% controlling equity interest in Opry Entertainment Group, which operates the Grand Ole Opry, Ryman Auditorium, and a growing portfolio of country music-themed entertainment venues. Its portfolio spans 11,869 hotel rooms across seven large-scale convention resorts, plus a network of entertainment and media assets concentrated in Nashville.
Read filing description ↓ Collapse description ↑
Ryman is a Delaware corporation that began operating as a self-advised and self-administered REIT for federal income tax purposes on January 1, 2013. We specialize in group-oriented, destination hotel assets in urban and resort markets. Our core holdings include a network of upscale, meetings-focused resorts totaling 11,869 rooms that are managed by Marriott under the Gaylord Hotels and JW Marriott brands. The five Gaylord Hotels resorts consist of the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee, the Gaylord Palms Resort & Convention Center near Orlando, Florida, the Gaylord Texan Resort & Convention Center near Dallas, Texas, the Gaylord National Resort & Convention Center near Washington D.C., and the Gaylord Rockies Resort & Convention Center near Denver, Colorado. The two JW Marriott resorts consist of the JW Marriott San Antonio Hill Country Resort & Spa and the JW Marriott Phoenix Desert Ridge Resort & Spa. We also own an approximate 70% controlling equity interest in a business comprised of a number of entertainment and media assets, known as the Opry Entertainment Group, which we report as our Entertainment segment. These assets include the Grand Ole Opry, which celebrated its 100th anniversary in 2025; the Ryman Auditorium; WSM-AM; Ole Red, a brand of six Blake Shelton-themed bar, music venue and event spaces; Category 10, a brand of Luke Combs-themed bar, music venue and event spaces; Block 21, a mixed-use entertainment, lodging, office, and retail complex located in Austin, Texas; and, as of January 3, 2025, a majority and controlling equity interest in Southern Entertainment, a Charlotte, North Carolina-based national music festival and events production company. Our operations are organized into three principal business segments: Hospitality, Entertainment, and Corporate and Other, which represented approximately 83%, 17% and 0%, respectively, of total revenues for fiscal year 2025.
Primary products
- Gaylord Hotels convention resorts
- JW Marriott convention resorts
- Inn at Opryland
- AC Hotel
- Grand Ole Opry
- Ryman Auditorium
Business segments
End markets
Geographies
“We believe that our hotels' expansive spaces and quality meeting and convention facilities and services provide a competitive advantage over other hotels and convention centers.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from approximately $2.34 billion in 2024 to approximately $2.58 billion in 2025, driven by the addition of JW Marriott Desert Ridge mid-year and growth across both the Hospitality and Entertainment segments.
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