Ryman Hospitality Properties, Inc.

Listed Company

RHPCIK 0001040829NYSELarge AcceleratedReal Estate Investment TrustsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.58B

Net Income

$243.43M

Total Assets

$6.18B

Equity

$750.15M

Shares Out

63.01M

Op. Cash Flow

$590.63M

Business

Ryman Hospitality Properties, Inc. is a self‑administered REIT that owns and leases group‑oriented, destination hotel assets and entertainment and media businesses. It offers upscale, meetings‑focused resorts and overflow hotels managed by Marriott under the Gaylord Hotels and JW Marriott brands, plus entertainment venues and media assets such as the Grand Ole Opry, Ryman Auditorium, WSM‑AM, Ole Red, Category 10, Block 21 and festival production interests. Operations are organized into Hospitality, Entertainment, and Corporate and Other segments. The company operates primarily in U.S. urban and resort markets through hotel management agreements, live venues, radio broadcasting and branded restaurant/entertainment locations.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	2,577	2,339	2,158	1,806	939
Total hotel operating expenses	1,441	1,325	1,225	1,038	621
Entertainment	324	242	224	189	118
Corporate	43	42	43	43	39
Preopening costs	3	5	1	532,000	737,000
(Gain) loss on sale of assets	1	−270,000	—	469,000	−317,000
Depreciation and amortization	278	236	211	209	220
Total operating expenses	2,090	1,848	1,704	1,479	998
Operating income	487	491	454	327	−59
Interest expense	−241	−225	−211	−148	—
Interest income	20	28	21	6	6
Loss on extinguishment of debt	−3	−2	−2	−2	−3
Income (loss) from unconsolidated joint ventures	−10	275,000	−17	−11	−9
Other gains and (losses), net	2	3	4	2	405,000
Income before income taxes	255	294	248	174	−190
(Provision) benefit for income taxes	−7	−14	94	−39	−5
Net income	247	280	342	135	−195
Net income attributable to noncontrolling interest in Opry Entertainment Group	−5	−7	−28	−5	17
Net (income) loss attributable to other noncontrolling interests	1	−2	−2	−923,000	1
Net income available to common stockholders	243	272	311	—	—
Basic income per share available to common stockholders	3.94	4.54	5.39	2.34	−3.21
Diluted income per share available to common stockholders	3.77	4.38	5.36	2.33	−3.21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Property and equipment, net	4,970	4,124	3,956	3,172	3,032
Cash and cash equivalents - unrestricted	471	478	592	334	141
Cash and cash equivalents - restricted	29	99	109	110	22
Notes receivable, net	54	58	62	68	71
Trade receivables, net	106	94	110	117	75
Deferred income tax assets, net	68	71	82	—	—
Prepaid expenses and other assets	197	178	155	134	113
Intangible assets and goodwill, net	287	116	—	—	—
Total assets	6,181	5,218	5,189	4,041	3,581
Debt and finance lease obligations	3,977	3,378	3,377	2,863	2,937
Accounts payable and accrued liabilities	518	467	465	385	305
Distributions payable	79	71	68	14	386,000
Deferred management rights proceeds	163	165	165	167	171
Operating lease liabilities	159	135	129	126	114
Other liabilities	74	67	67	65	72
Total liabilities	4,969	4,283	4,271	3,633	3,603
Commitments and contingencies	—	—	—	—	—
Noncontrolling interest in Opry Entertainment Group	423	382	345	312	—
Preferred stock, $.01 par value, 100,000 shares authorized, no shares issued or outstanding	—	—	—	—	—
Common stock, $.01 par value, 400,000 shares authorized, 63,006 and 59,903 shares issued and outstanding, respectively	630,000	599,000	597,000	552,000	551,000
Additional paid-in capital	1,722	1,475	1,503	1,103	1,113
Treasury stock of 730 and 696 shares, at cost	−27	−24	−21	−18	−18
Distributions in excess of retained earnings	−933	−888	−894	—	—
Accumulated other comprehensive loss	−13	−15	−19	−11	−29
Total stockholders' equity	750	549	569	95	−22
Noncontrolling interests	39	4	4	625,000	−159,000
Total equity	789	553	573	96	−22
Total liabilities and equity	6,181	5,218	5,189	4,041	3,581

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision (benefit) for deferred income taxes	2	10	−96	8	4
Amortization of deferred financing costs	12	11	11	10	9
Equity-based compensation expense	14	14	15	15	12
Trade receivables	2	16	22	−41	−55
Accounts payable and accrued liabilities	12	14	42	66	107
Other assets and liabilities	12	−3	−7	7	−539,000
Net cash flows provided by operating activities	591	577	557	420	111
Purchases of property and equipment	−358	−408	−207	−90	−77
Collection of notes receivable	4	4	6	4	844,000
Other investing activities, net	−18	−7	−10	481,000	5
Net cash flows used in investing activities	−1,234	−410	−1,013	−189	−290
Issuance of senior notes	625	1,000	400	—	600
Deferred financing costs paid	−13	−24	−23	−15	−11
Issuance of common stock, net	276	—	395	—	—
Payment of distributions	−286	−266	−176	−6	−502,000
Payment of tax withholdings for equity-based compensation	−6	−12	−4	−4	−3
Other financing activities, net	−289,000	−81,000	−271,000	−199,000	−216,000
Net cash flows provided by (used in) financing activities	567	−290	712	51	262
Net change in cash, cash equivalents, and restricted cash	−76	−124	256	281	83

Filings

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