Latest news with #RymanHospitality
Yahoo
04-07-2025
- Business
- Yahoo
Ryman Hospitality (RHP) Concludes Acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa
Ryman Hospitality Properties, Inc. (NYSE:RHP) is one of the most undervalued stocks. On June 10, the company confirmed the completion of its acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona, for nearly $865 million, following its earlier disclosure of the transaction. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, commented: 'I want to thank the Ryman team and the sellers, Trinity Investments, for their collaboration in executing an efficient and successful closing. We are excited to begin integrating this premier resort into our differentiated, group-focused portfolio, and we look forward to pursuing compelling value creation opportunities at this beautiful property and across our one-of-a-kind portfolio.' An interior shot of the Grand Ole Opry House, showing the iconic country music brand and its architechtural grandeur. The JW Marriott Desert Ridge sits on about 402 acres in Arizona's Sonoran Desert and is one of the largest resorts in the Phoenix/Scottsdale area. It includes 950 guest rooms, with 81 suites, and around 243,000 square feet of space for meetings and events. The resort features a 28,000 square foot spa (REVIVE Spa), seven restaurants and bars, a large water area with slides and a lazy river, and two golf courses designed by Nick Faldo and Arnold Palmer. Recently, the property underwent nearly $100 million in upgrades, including renovated rooms and suites, an improved lobby, better water attractions, and updated dining areas. Ryman Hospitality Properties, Inc. (NYSE:RHP) is a hospitality-focused REIT specializing in upscale convention center resorts, including five of the seven largest non-gaming convention hotels in the United States. While we acknowledge the potential of RHP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Sign in to access your portfolio
CNBC
05-06-2025
- Business
- CNBC
Buy these small-cap stocks with attractive dividends, Bank of America says
Investors looking for both a bargain and income can find them in small-cap stocks, but they should be selective, according to Bank of America. Dividends are more prevalent than buybacks in the cohort, with some 40% of the Russell 2000 paying a dividend today, the firm said in a note Tuesday. While small caps face greater risk from tariffs and macro uncertainty, as well as from higher rates, they remain cheap compared with large-cap stocks, equity and quant strategist Jill Carey Hall wrote. The Russell 2000 was the first to enter bear market territory after President Donald Trump 's sweeping tariff policy was announced in April. A bear market is a 20% or more decline from a previous high. While the index has reversed course, it is still about 15% off its high and down more than 5% year to date. The S & P 500 is up more than 1%. Hall sees "ample opportunity" in the space, as well as room for payout ratios to rise. "Cash return to shareholders has been a historically outperforming style within small caps in both 'Downturn' and 'Recovery' regimes (the two phases our US Regime Indicator has been bouncing between for the last two years)," she said. With that in mind, she screened for Russell 2000 stocks that have dividend yields greater than that of the 10-year Treasury, which is currently around 4.39%. The names also have a Bank of America dividend rating of 7, which means the payouts are stable or likely to go up. Here are some of the buy-rated names that made the cut. A number of real estate investment trusts made the list, including Ryman Hospitality and Sabra Health Care . The former has a 4.8% dividend yield, while the latter yields 6.8%. Hospitality and lodging REIT Ryman Hospitality specializes in upscale convention center resorts, including the Gaylord Opryland Resort & Convention Center. It's a name that investor Jenny Harrington, CEO of Gilman Hill Asset Management, picked up after its tariff-induced sell-off . "They have five of the top 10 largest non-gaming conference centers, and so they get lumped in with the hotel REITs. But their dynamics are completely different," she said in April. The locations are usually booked out two to five years in advance, and the company has huge cancellation fees, Harrington noted. Last month, Ryman Hospitality reported financial results that topped expectations. Its first-quarter adjusted funds from operations were $2.08 per share, versus the $1.68 a share anticipated from analysts polled by FactSet. AFFOs are a measure of REITs' financial performance. Revenue was $587.3 million, beating the $548.4 million consensus estimate. The stock is down nearly 8% so far this year. Sabra Health Care REIT, on the other hand, is up about 2% year to date. The company focuses on skilled nursing/transitional care facilities, senior housing, behavioral health facilities and specialty hospitals. Senior housing and skilled nursing facilities are expected to benefit as the population ages . Those aged 65 and older in the United States are expected to make up about 21% of the population by 2030, up from 17% in 2020, according to the Census Bureau . That percentage is expected to keep growing through 2060. Sabra Health Care's first-quarter normalized FFO came in 1 cent short of the FactSet consensus estimate 36 cents. However, its revenue of $183.5 million beat the $178.4 million expected by analysts. Among the energy names on Bank of America's list is Northern Oil and Gas , which is a non-operator in the acquisition, exploration and development of oil and natural gas properties. The stock yields 6.4% and has fallen about 24% so far this year. Northern Oil and Gas' first-quarter adjusted earnings and revenue both beat expectations. The company also said it saw a 13% increase in barrel of oil equivalent (BOE) production from the first quarter of 2024. Lastly, utility company NorthWestern Energy has a 5% dividend yield. In April, the company reported first-quarter adjusted earnings that beat expectations, but its revenue came in below the Street's estimates. Shares are down about 1% year to date.
Skift
30-05-2025
- Business
- Skift
Everhome Suites Expands U.S. Footprint
The DJIA rose 117 points, the Nasdaq was up 75, the S&P 500 rose 24 points and the 10-year treasury yield was down .05 to 4.42%. Lodging stocks were modestly higher. Jefferies reported on a meeting they held with Ryman Hospitality Properties management. They liked what they heard as the firm upped their price target to $115 from $109 while maintaining their Buy rating. The key focus of the meeting was on the recently announced acquisition of the JW Marriott Desert Ridge, along with the opportunities for Opryland Entertainment Group. The JW Marriott purchase provides RHP access to Phoenix, the 7th largest convention market in the U.S. RHP sees an opportunity to capitalize on shifting mix toward business groups versus leisure. Jefferies sees an opportunity to expand the property over time. The transaction is expected to close in late 2Q or early 3Q. As for the OEG, Jefferies said it presents a future value-capture opportunity that seems highly likely to occur in the medium term. STR reported U.S. lodging data for the week ended May 24th. U.S. hotel RevPAR rose 1.1% year over year with rates up 1.5%. Group RevPAR rose 6%. Everhome Suites continues to grow its nationwide footprint with the opening of six new properties and three groundbreakings. Choice Hotels now has 14 Everhome Suites open, 19 under construction, and more than 60 in the pipeline. The brand is on track to have nearly 25 hotels open by the end of the year. The newly opened and under-construction hotels were developed with longtime collaborators of Choice Hotels and Highside Companies. These include: the 114-room Everhome Suites Bastrop, Texas, opened in February 2025. The 122-room Everhome Suites Waco, Texas, opened in March 2025. The 122-room Everhome Suites Brownsville, Texas, and the 122-room Everhome Suites El Paso, Texas, opened in April 2025. Opening in June 2025 is the 114-room Everhome Suites Amarillo, Texas. The Everhome Suites Georgetown, Texas, broke ground in March 2025 and is scheduled to open in September 2026 with 115 guestrooms. In Arizona, the 122-room Everhome Suites Yuma will open in July 2025. Everhome Suites Salem, Oregon, broke ground in April 2025 and is slated to open in the third quarter of 2026 with 114 guestrooms and the Everhome Suites Dayton, Ohio, will break ground in June 2025 and is scheduled to open in the first quarter of 2027 with 114 guestrooms. The Talbott, a historic landmark in Chicago's Gold Coast, has completed a full-scale renovation and officially joins Marriott Bonvoy's Autograph Collection. From check-in to room relaxation, the renovation re-imagined every aspect of the property, including all 178 guestrooms, public spaces, and event areas. The Hilton New York Fashion District unveiled a fresh new look as part of the extensive property-wide renovations. The property updates include a complete refresh of all 280 guestrooms, public spaces, and meeting areas. Managed by Aimbridge Hospitality, the Hilton New York Fashion District features a rooftop bar, live music programming, modern dining options, a fitness center, and a business center. Hilton announced the signing of a branding and management agreement with Wine Country Hospitality Partners, LLC for the new build Waldorf Astoria Texas Hill Country and Waldorf Astoria Residences Texas Hill Country, marking the debut of Waldorf Astoria Hotels & Resorts in the Lone Star State. The project is expected to open in 2027 and will be managed by Hilton. The property will encompass 60 dedicated hotel guestrooms and suites, 37 branded multi-bedroom resort villas eligible to participate in a hotel rental program as 74 additional keys, and 50 branded private residences. The resort will also include five food and beverage concepts, a spa and fitness center, two resort-style pools, and more. The 253-room Embassy Suites by Hilton located next to the Charleston Area Convention Center in North Charleston, South Carolina, has completed a $12 million renovation. The renovation included improvements to the guest suites and event venues and expanding the common areas and dining spaces. The renovation also included technology upgrades in the conference areas and suites as well as behind-the-scenes updates to the heating and cooling systems. The Embassy Suites by Hilton is owned by Atrium Hospitality. Pacific Waters Spa at Hyatt Regency Huntington Beach Resort unveiled a curated selection of treatments catering to the needs of those seeking enhanced recovery and overall well-being. The spa's latest offerings include Halotherapy Infrared Sauna; Luminova Illuminating Wellness with Light; Avacen; Therabody Zero Gravity Experience; and the Sedona PEMF Mat. Hyatt Regency Huntington Beach Resort & Spa features 519 guestrooms including 58 suites, multiple dining outlets, a lagoon-style pool, and a retail plaza. The Trail Hotel, the world's first bourbon-infused luxury hotel, is now welcoming guests in Bardstown, Kentucky. Housed in a re-imagined historic property, the 95-room hotel boasts eight signature suites, a four-star dining experience, five distinct bars; an array of modern wellness amenities; and meetings and events spaces. The Lake County, Indiana Board of Commissioners selected the proposal from the city of Gary and Hard Rock Northern Indiana as the winning bid for the new convention center. The city and Hard Rock plan to build a 145,000-square-foot convention center and Hard Rock Hotel near the casino. The plan is for the property to also have space for two additional hotels, including one REVERB by Hard Rock Hotel, and two restaurants and retail spaces. The city of Gary beat out the city of Hobart for the Lake County Convention Center. The Adelphi Hotel in Saratoga Springs, New York, is putting the final touches on its more than $75 million renovation and expansion. The classic Victorian hotel's transformation includes more guestrooms, growing from 32 to 65, with modern bathrooms and radiant heated floors. There is also a gym, game room, gathering room with a bar, and two onsite restaurants. Hotel Wren, a re-imagined 1940's roadside motel, is now open in Twentynine Palms, California. The 12-room hideaway is a 21+ property and features a curated bodega of provisions and objects. SomeraRoad purchased the historic Hotel Bossert, in Brooklyn, New York, for $100 million. The seller, Beach Point Capital, provided a $71 million mortgage to SomeraRoad. The developer plans to restore the building and open it as residences. The team behind the development set to alter the base area of Keystone Resort, in Summit County, Colorado, is now shooting for a winter 2025 opening as opposed to the previously planned summer 2025 opening. The $300 million project, by Kindred Development Team, encompasses three buildings, including a 107-room hotel, three restaurants, 95 luxury condos, a ski school, event space, and more. The hotel and 62 residences, called the West Tower, are on track to be completed first, and the East Tower with the remaining 33 residences will follow. In the center of the three towers will be a courtyard with an Astroturf field, fire pits, and yard games. Walker & Dunlop, Inc. advised on an $86,000,000 loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel, located in the epicenter of Scottsdale Fashion Square. Walker & Dunlop Arizona Capital Markets, partnered with Walker & Dunlop New York Capital Markets, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing. The Caesars Republic Scottsdale boasts 265 guestrooms, three restaurants, two pools, and over 20,000 square feet of event space. DoveHill announced the successful exit of its preferred equity investment in the Courtyard New York Manhattan Chelsea, delivering an impressive 18.4% IRR over a four-year hold period to its investors. DoveHill Sponsor Fund I was strategically raised during the Covid-19 pandemic to capitalize on distressed opportunities within the hospitality sector. DoveHill is raising its second fund, DoveHill Opportunity Fund 2, which will continue to pursue preferred equity investments in hospitality and direct equity stakes in distinctive experiential and lifestyle-centric hotels. Global Highlights InterContinental Hotels & Resorts, part of IHG Hotels & Resorts' luxury and lifestyle portfolio, announced a new property in Guayaquil, marking its first destination in Ecuador. Developed in partnership with BPO Consulting, InterContinental Guayaquil will offer 101 guestrooms, 11 suites and one Presidential Suite, a specialty restaurant, a poolside lounge, a resort-style rooftop pool, a spa, and a fitness center. It will also feature approximately 610 square meters of dedicated meeting and event space in addition to a signature Club InterContinental lounge. The hotel is set to open in 2027. Europe Highlights Yoomata Aldgate Property has acquired Challenger House in Whitechapel, London. The joint venture between Euragone Investment Management and Mata Capital paid Great Portland Estates £42 million for the asset together with a plot of undeveloped land. Challenger House comprises 180 rooms alongside a ground-floor restaurant and bar. Yoomata is planning to redevelop the site to eventually operate it under the Yooma Urban Lodge brand.
The Sun
22-05-2025
- Entertainment
- The Sun
When is The Grand Ole Opry 100 coming to London's Royal Albert Hall and how can you get tickets?
COUNTRY music fans are incredibly excited over the news that The Grand Ole Opry will be coming to London for its 100th anniversary. The iconic live country music radio broadcast - which is based out of Nashville but famous all around the world - will be broadcasting live from London, England for the first time ever, this September. 9 9 Celebrating its 100th anniversary, the broadcast will be from London's Royal Albert Hall, with a star-studded line up. Country music icon Carly Pearce - who recently crooned a Christmas hit with Michael Buble - is headlining the show alongside several other huge names. She will perform on the bill with the likes of Luke Combs, Marty Stuart, Ashley McBryde, and Darius Rucker. The beloved country stars, who are all Opry members, will headline its first-ever live international broadcast from London's iconic Royal Albert Hall on Friday, September 26, 2025. HOW TO GET TICKETS FOR OPRY 100 IN LONDON Tickets to the show will go on sale on Friday, May 23 at 10:00 a.m. BST via the Royal Albert Hall's website Not only will the event have a star-studded line up of country music icons, but Brits will be familiar with one of the hosts. BBC Radio 2 Presenter Vernon Kay and WSM Radio Personality and Grand Ole Opry Announcer Kelly Sutton are set to host the landmark broadcast. Colin Reed, the executive chairman of Grand Ole Opry parent company Ryman Hospitality Properties said of the event: "This milestone year for the Grand Ole Opry has arrived at the perfect time as country music enjoys an unprecedented rise in global popularity, especially here in the United Kingdom. "Our first-ever broadcast outside of the United States will celebrate the influential music that has shaped this genre and pay tribute to the unique Opry show format that has entertained music lovers for 100 years. "With the help of some of our most treasured Opry members and some very special guests, we hope to give fans a taste of what goes on every week back in Nashville and inspire them to come visit the epicentre of country music." HONOURING THE OPRY Wagon Wheel singer Darius Rucker said: "Being a member of the Grand Ole Opry is a great honour; it's always felt like the Opry was my home away from home. "To have the opportunity to bring such a big part of my musical roots to Royal Albert Hall is a full-circle moment for me while I work on a project with so many talented songwriters and producers based in London. "I can't think of a better way to honour the Opry's global impact on country music as we share its magic with a new generation of fans." Reacting to the news of the Opry 100 show in London, one person said on Instagram: "Wow!! This is amazing lineup! So hoping to get tickets!!" 9 9 9 9 9 Another said: "The excitement is real! We can't wait to welcome y'all to the UK." While a third penned: "WHAT A CELEBRATION! GRAND OLE OPRY 100." HOW THE OPRY BEGAN The Grand Ole Opry is a legendary country music institution and a live radio broadcast and concert venue in Nashville, Tennessee. The Opry, which is world-renowned, is the world's longest-running radio show, originating in 1925. When it first came to be 100 years ago, it was called the WSM Barn Dance. Two years later in 1927 it was renamed the Grand Ole Opry. The iconic venue is known for showcasing both country music legends and contemporary artists, along with bluegrass, Americana, folk, and gospel music.
Globe and Mail
21-05-2025
- Business
- Globe and Mail
Ryman Hospitality Properties, Inc. Announces Closing of Upsized Common Stock Offering and Full Exercise of Underwriters' Over-Allotment Option
NASHVILLE, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the 'Company') today announced the closing of its previously announced upsized underwritten registered public offering of 2,990,000 shares of its common stock, par value $0.01 per share, at a price to the public of $96.20 per share (the 'Offering'). The shares sold in the Offering included 390,000 shares sold following the May 20, 2025 exercise in full of the underwriters' option to purchase additional shares of common stock, which were delivered at the time of the closing of the Offering. As a result, the Company received aggregate net proceeds from the sale of the common stock of approximately $275 million, after deducting underwriting discounts and commissions and other estimated expenses of the Offering payable by the Company. Morgan Stanley, BofA Securities, J.P. Morgan and Wells Fargo Securities acted as active joint book-running managers for the Offering, and Deutsche Bank Securities, BTIG, Credit Agricole CIB, Scotiabank, SMBC Nikko and Raymond James acted as bookrunners for the Offering. The Company expects to contribute the net proceeds of the Offering to RHP Hotel Properties, LP (the 'Operating Partnership'). The Operating Partnership subsequently intends to use all of the net proceeds of the Offering to fund a portion of the approximately $865 million purchase price for the previously announced pending acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa located in Phoenix, Arizona (the 'Desert Ridge Acquisition') and to pay related fees and expenses of the Desert Ridge Acquisition. The balance of the purchase price of the Desert Ridge Acquisition will be funded with a combination of cash on hand and the net proceeds the Operating Partnership and RHP Finance Corporation (collectively, the 'Issuers') receive upon consummation of the Issuers' recently announced private placement of $625 million aggregate principal amount of senior notes due 2033 (the 'Notes'), which the Issuers upsized and priced on May 20, 2025 (the 'Private Placement'). The aggregate net proceeds from the Private Placement are expected to be approximately $614 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses. Subject to customary closing conditions, the Private Placement is expected to close on June 4, 2025. If the Desert Ridge Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, and the Notes will be redeemed in accordance with a special mandatory redemption at a redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest, if any, up to, but excluding, the special mandatory redemption date. This press release shall not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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 entertainment experiences. The Company's holdings include 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, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company's hotel portfolio is managed by Marriott International and includes a combined total of 11,414 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate 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; Category 10; Nashville-area attractions; Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at the Moody Theater, located in downtown Austin, Texas; and a majority interest in Southern Entertainment, a leading festival and events business. RHP operates OEG as its Entertainment segment in a taxable REIT subsidiary, and its results are consolidated in the Company's financial results. Cautionary Note Regarding Forward-Looking Statements This 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. Examples of these statements include, but are not limited to, statements regarding the Desert Ridge Acquisition and the anticipated use of the net proceeds of the Offering and the Private Placement by the Company. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the Desert Ridge Acquisition and the Private Placement including, but not limited to, the occurrence of any event, change or other circumstance that could delay the closing of the Desert Ridge Acquisition or the Private Placement, or result in the termination of the Private Placement or the transaction agreement for the Desert Ridge Acquisition; and adverse effects on the Company's common stock because of the failure to complete the Desert Ridge Acquisition or the Private Placement. Other factors that could cause results to differ are described in the filings made from time to time by the Company with the 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, 2024, the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, and subsequent filings, including the Current Report on Form 8-K filed May 19, 2025. 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.
