Ryman Hospitality Properties Reports 11.2% Revenue Growth and 47.4% Net Income Increase in Q1 2025

Ryman Hospitality Properties, Inc. reported a significant increase in financial performance for the first quarter of 2025, with total revenues reaching $587.3 million, up 11.2% from $528.3 million in the same period of 2024. The company's net income also saw a substantial rise, increasing by 47.4% to $63.0 million, compared to $42.8 million in the prior year. This growth was driven by strong performance across both the Hospitality and Entertainment segments, with the Hospitality segment generating $497.7 million in revenue, a 7.9% increase, and the Entertainment segment contributing $89.6 million, reflecting a 33.9% rise.

The company experienced notable operational improvements, including a 3.0 percentage point increase in hotel occupancy, which reached 69.7%, and a 5.6% rise in average daily rate (ADR) to $264.40. Additionally, outside-the-room spending in the Hospitality segment increased by 7.2%, indicating higher engagement from guests. The number of net definite group room nights booked also rose by 8.2%, suggesting a positive outlook for future bookings despite ongoing economic uncertainties affecting decision-making among meeting planners.

Ryman's strategic developments included continued investment in its properties, with capital expenditures totaling $112.7 million during the quarter. This investment focused on renovations and enhancements at various locations, including the Gaylord Opryland and Gaylord Texan. The company also expanded its entertainment offerings with the opening of Category 10, a new venue that contributed to the revenue growth in the Entertainment segment. Furthermore, Ryman's acquisition of JW Marriott Hill Country in June 2023 aligns with its long-term strategy to enhance its portfolio of group-oriented hotels.

Despite the positive financial results, Ryman's cash and cash equivalents decreased to $461.3 million from $576.2 million at the end of 2024, primarily due to cash distributions of $70.3 million and capital expenditures. The company anticipates investing between $235 million and $335 million in capital expenditures throughout 2025, focusing on ongoing enhancements and expansions. Ryman's management remains optimistic about the future, citing strong demand for group meetings and conventions, although they acknowledge potential challenges posed by inflation and economic conditions.