Ryman Hospitality Properties, Inc. reported a total revenue of $2.577 billion for the fiscal year ended December 31, 2025, marking a 10.2% increase from $2.339 billion in 2024. The company's operating income slightly decreased to $487 million, down 0.8% from $490.8 million in the previous year. Net income available to common stockholders was $243.4 million, a decline of 10.4% compared to $271.6 million in 2024. The diluted earnings per share also fell to $3.77 from $4.38 in the prior year, reflecting the impact of increased operating expenses and interest costs.
The company experienced significant changes in its financial performance, particularly in its Hospitality and Entertainment segments. Hospitality revenues rose by 7.3% to $2.143 billion, driven by the addition of the JW Marriott Desert Ridge, which contributed $91.6 million in revenue since its acquisition in June 2025. The Entertainment segment saw a more substantial increase of 26.8%, reaching $434 million, largely due to the acquisition of Southern Entertainment and the opening of Category 10 Nashville. However, operating expenses also increased, with total operating expenses rising by 13.1% to $2.090 billion, primarily due to higher costs in both segments.
Strategically, Ryman made notable acquisitions, including the JW Marriott Desert Ridge for approximately $865 million and the JW Marriott Hill Country for about $800 million. These acquisitions are part of Ryman's long-term growth strategy to expand its portfolio of group-oriented, destination hotel assets. The company also plans to invest between $350 million and $450 million in capital expenditures in 2026, focusing on enhancements to existing properties and new developments.
Operationally, Ryman employed 1,819 individuals as of December 31, 2025, with a focus on maintaining a high level of employee engagement and satisfaction. The company reported a decrease in same-store net definite group room nights booked, which fell by 10.5% in 2025 compared to 2024, indicating challenges in the group meetings sector amid ongoing economic uncertainties. Despite this, the company noted an increase in average daily rates (ADR) and total revenue per available room (Total RevPAR), suggesting a positive trend in pricing power.
Looking ahead, Ryman Hospitality Properties anticipates continued growth driven by its strategic acquisitions and investments in its hotel portfolio. The company remains focused on enhancing its operational efficiencies and leveraging its brand recognition, particularly through its entertainment assets like the Grand Ole Opry and Ryman Auditorium. However, it acknowledges potential risks related to economic conditions, inflation, and competition in the hospitality industry, which could impact future performance.
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties is a real estate investment trust specializing in group-oriented, destination hotel assets in urban and resort markets. Its portfolio includes upscale Gaylord Hotels managed by Marriott, and entertainment assets like the Grand Ole Opry and Ryman Auditorium. The company generates revenue from hotel operations, entertainment, and media, leveraging strong brand recognition, strategic acquisitions, and long-term management agreements to deliver value to shareholders.
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