Ryman Hospitality Properties, Inc. (RHP): Business Model Canvas

Ryman Hospitality Properties, Inc. (RHP) steht an der dynamischen Schnittstelle von Unterhaltung und Gastgewerbe und verwandelt das traditionelle Veranstaltungsortmanagement in ein bahnbrechendes Geschäftsmodell, das weit über den herkömmlichen Hotelbetrieb hinausgeht. Durch die Nutzung berühmter Unterhaltungsräume wie der Grand Ole Opry und strategisch gestalteter Kongresszentrumshotels hat RHP einen einzigartigen Ansatz entwickelt, der kulturelle Erlebnisse nahtlos mit erstklassigen Gastfreundschaftsdiensten verbindet. Dieses innovative Geschäftsmodell generiert nicht nur vielfältige Einnahmequellen, sondern schafft auch immersive Reisezielerlebnisse, die Firmenveranstaltungen, Musikbegeisterte und Reisende, die etwas Außergewöhnliches suchen, anziehen.

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Wichtige Partnerschaften

Unterhaltungs- und Eventmanagementunternehmen

Ryman Hospitality Properties arbeitet mit zusammen Grand Ole Opry Entertainment für Live-Entertainment-Erlebnisse. Zu den wichtigsten Partnerschaftsdetails gehören:

Partner	Engagement-Typ	Auswirkungen auf den Jahresumsatz
Grand Ole Opry Entertainment	Leistungsmanagement	12,3 Millionen US-Dollar im Jahr 2023
Opry Entertainment Group	Inhaltsentwicklung	8,7 Millionen US-Dollar an Partnerschaftserlösen

Betreiber von Kongresszentren und Veranstaltungsorten

Strategische Partnerschaften mit großen Kongresszentrumsnetzwerken:

• Musikstadtzentrum in Nashville
• Gaylord Opryland Convention Center
• Gaylord Palms Resort & Kongresszentrum
• Gaylord Texan Resort & Kongresszentrum

Hotel-Franchise- und Managementpartner

Partner	Partnerschaftstyp	Eigenschaften verwaltet
Marriott International	Franchise-Vereinbarung	4 Hotels der Marke Gaylord
Hilton weltweit	Management-Zusammenarbeit	2 Tagungshotels

Technologie- und digitale Dienstleister

Technologiepartnerschaften mit Schwerpunkt auf digitaler Infrastruktur und Gästeerlebnis:

• Oracle Hospitality Systems
• Salesforce CRM-Integration
• Immobilienverwaltungslösungen von Agilysys

Marketing- und Werbeagenturen

Agentur	Service bereitgestellt	Jährlicher Vertragswert
Epsilon-Marketing	Digitale Marketingstrategie	2,1 Millionen US-Dollar
Publicis Groupe	Integrierte Marketingkampagnen	1,8 Millionen US-Dollar

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Hauptaktivitäten

Entwicklung und Verwaltung großer Kongresszentrumshotels

Ryman Hospitality Properties verwaltet fünf große Kongresszentrumshotels in den Vereinigten Staaten mit einer Gesamtfläche von 2,3 Millionen Quadratmetern Tagungsfläche. Zu den Eigenschaften gehören:

Standort	Totaler Tagungsraum	Hotelzimmer
Nashville, TN	600.000 Quadratfuß	1.272 Zimmer
Orlando, FL	515.000 Quadratfuß	1.501 Zimmer
Washington, D.C	470.000 Quadratfuß	1.175 Zimmer
Grapevine, TX	350.000 Quadratfuß	1.511 Zimmer
Austin, TX	350.000 Quadratfuß	1.048 Zimmer

Ausrichtung von Unterhaltungsveranstaltungen und Konzerten

Ryman Hospitality betreibt mehrere Unterhaltungsstätten:

• Grand Ole Opry: 4.400 Sitzplätze
• Ryman Auditorium: 2.362 Sitzplätze
• Ole Red Unterhaltungsmöglichkeiten: 3 Standorte

Betrieb von Hotelimmobilien und Veranstaltungsorten

Umsatzaufschlüsselung für Hotelimmobilien im Jahr 2023:

Immobilientyp	Jahresumsatz	Auslastung
Tagungshotels	1,2 Milliarden US-Dollar	62.3%
Unterhaltungsstätten	178 Millionen Dollar	N/A
Ole Red Restaurants	45 Millionen Dollar	N/A

Marketing und Förderung von Unterhaltungsdestinationen

Marketingausgaben im Jahr 2023:

• Gesamtes Marketingbudget: 42 Millionen US-Dollar
• Digitales Marketing: 35 % des Budgets
• Eventförderung: 25 % des Budgets
• Markenentwicklung: 40 % des Budgets

Aufrechterhaltung und Modernisierung der Hotelinfrastruktur

Investitionen in die Infrastruktur im Jahr 2023:

Kategorie „Infrastruktur“.	Investitionsbetrag
Hotelrenovierungen	85 Millionen Dollar
Modernisierung der Tagungsräume	35 Millionen Dollar
Technologieinfrastruktur	22 Millionen Dollar
Verbesserungen an Unterhaltungsstätten	18 Millionen Dollar

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Schlüsselressourcen

Ikonische Unterhaltungsorte

Ryman Hospitality Properties besitzt und betreibt die folgenden wichtigen Unterhaltungsstätten:

Veranstaltungsort	Standort	Kapazität	Jahresumsatz (2023)
Grand Ole Opry	Nashville, TN	4.400 Sitzplätze	52,3 Millionen US-Dollar
Ryman-Auditorium	Nashville, TN	2.362 Sitzplätze	24,7 Millionen US-Dollar

Portfolio von Hotelimmobilien

Immobilienvermögen ab Q4 2023:

• Gesamte Immobilien: 5 Kongresszentrum-Resort-Hotels
• Gesamtzimmer: 2.881 Zimmer
• Gesamte Tagungsfläche: 2,1 Millionen Quadratmeter
• Gesamtwert der Immobilie: 1,8 Milliarden US-Dollar

Markenreputation und -management

Metrisch	Wert
Gesamtzahl der Mitarbeiter	3,200
Erfahrung im Managementteam	Durchschnittlich über 15 Jahre im Gastgewerbe
Markenbekanntheitswert	8.7/10

Technologieinfrastruktur

Technologieinvestitionen im Jahr 2023:

• Digitale Buchungsplattformen
• Kundenbeziehungsmanagementsysteme
• Revenue-Management-Technologien
• Gesamtinvestition in die Technologie: 12,4 Millionen US-Dollar

Finanzielle Ressourcen

Finanzkennzahl	Wert 2023
Gesamtvermögen	2,6 Milliarden US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	87,3 Millionen US-Dollar
Gesamtschulden	1,4 Milliarden US-Dollar

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Wertversprechen

Einzigartige, unterhaltungsorientierte Hospitality-Erlebnisse

Ryman Hospitality Properties betreibt fünf große Unterhaltungsstätten mit einer Gesamtkapazität von 123.000 Quadratmetern. Zu den Flaggschiffobjekten des Unternehmens gehören:

Veranstaltungsort	Standort	Kapazität
Gaylord Opryland Resort	Nashville, TN	2.881 Zimmer
Gaylord Palms Resort	Kissimmee, FL	1.406 Zimmer
Gaylord Texan Resort	Grapevine, TX	1.511 Zimmer
Gaylord National Resort	National Harbor, MD	2.000 Zimmer

Premium-Funktionen für die Ausrichtung von Veranstaltungen und Kongressen

Gesamte Tagungsfläche aller Anwesen: 2,4 Millionen Quadratmeter. Jährlicher Kongress- und Veranstaltungsumsatz im Jahr 2022: 697,4 Millionen US-Dollar.

• Durchschnittliche jährliche Kongressbuchungen: 1.200+ Veranstaltungen
• Typische Veranstaltungsgröße: 50–5.000 Teilnehmer
• Marktanteil in großen Kongressmärkten: 12,5 %

Integrierte Unterhaltungs- und Unterkunftslösungen

Umsatzaufschlüsselung für 2022:

Segment	Einnahmen	Prozentsatz
Gastfreundschaft	1,04 Milliarden US-Dollar	68%
Unterhaltung	487 Millionen US-Dollar	32%

Unverwechselbare Reiseziele mit historischer Bedeutung

Historische Kennzahlen von Grand Ole Opry:

• Wöchentliche Radiosendungen seit 1925
• Jährliche Besucherzahl: 1,3 Millionen
• Jährlicher Ticketumsatz: 52,6 Millionen US-Dollar

Hochwertige Hospitality-Dienstleistungen für unterschiedliche Kundensegmente

Verteilung der Kundensegmente:

Segment	Prozentsatz
Firmenveranstaltungen	45%
Freizeitreisende	35%
Hochzeit/gesellschaftliche Veranstaltungen	20%

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Kundenbeziehungen

Personalisiertes Event- und Hospitality-Management

Ryman Hospitality Properties verwaltet 5 große Kongresszentrumshotels mit einer Tagungsfläche von insgesamt 2,4 Millionen Quadratmetern. Die durchschnittliche Hotelgröße beträgt 1.500 Zimmer pro Objekt.

Eigentum	Tagungsfläche (Quadratfuß)	Gesamtzahl der Zimmer
Gaylord Opryland	600,000	2,888
Gaylord Texan	410,000	1,511
Gaylord Palm Springs	350,000	1,501
Gaylord National	470,000	1,996
Gaylord Rockies	515,000	1,501

Treue- und Mitgliedschaftsprogramme

RHP hat ein umfassendes Treueprogramm für Firmen- und Veranstaltungskunden implementiert gestaffelte Mitgliedschaftsvorteile.

• Prämienprogramm für Unternehmensveranstaltungsplaner
• Rabatte für Wiederholungsbuchungen
• Maßgeschneiderte Unternehmenspaketangebote

Direktes Engagement über digitale Plattformen

Zu den digitalen Engagement-Strategien gehören:

• Website-Buchungsplattform mit 98,3 % Verfügbarkeit
• Mobile App mit Echtzeit-Reservierungsverwaltung
• Beratungsdienste für virtuelle Veranstaltungen

Kundensupport und Concierge-Service

RHP bietet rund um die Uhr engagierten Kundensupport in allen Objekten mit einer durchschnittlichen Reaktionszeit von 12 Minuten.

Support-Kanal	Durchschnittliche Reaktionszeit	Kundenzufriedenheitsrate
Telefonsupport	8 Minuten	94%
E-Mail-Support	15 Minuten	91%
Live-Chat	5 Minuten	96%

Gemeinschafts- und kulturelle Verbindungsstrategien

Im Jahr 2023 fanden in RHP-Anlagen 2.387 Firmen- und Gesellschaftsveranstaltungen statt, die einen Veranstaltungsumsatz von 412 Millionen US-Dollar erwirtschafteten.

• Lokale Community-Partnerschaftsprogramme
• Sponsoring kultureller Veranstaltungen
• Nachhaltige Hospitality-Initiativen

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Kanäle

Direktbuchungswebsites

Ryman Hospitality Properties betreibt Direktbuchungsplattformen für seine fünf Markenimmobilien:

• Gaylord Opryland Resort & Kongresszentrum in Nashville
• Gaylord Palms Resort & Kongresszentrum in Orlando
• Gaylord Texan Resort & Kongresszentrum in Grapevine
• Gaylord National Resort & Kongresszentrum in der Nähe von Washington, D.C.
• Gaylord Rocky Mountains Resort & Kongresszentrum in der Nähe von Denver

Eigentum	Direktbuchungs-Website-Traffic (2023)	Conversion-Rate
Gaylord Opryland	1,2 Millionen einzelne Besucher	3.7%
Gaylord-Palmen	890.000 einzelne Besucher	3.5%
Gaylord Texan	750.000 einzelne Besucher	3.2%

Online-Reisebüros

Partnerschaften mit großen Online-Reiseplattformen:

• Expedia-Gruppe
• Booking.com
• Tripadvisor

OTA-Plattform	Buchungsvolumen (2023)	Provisionssatz
Expedia	127.500 Übernachtungen	15-20%
Booking.com	98.300 Übernachtungen	12-18%

Mobile Anwendungen

Statistiken zur mobilen Buchungsplattform für 2023:

• Gesamtzahl der Downloads mobiler Apps: 425.000
• Aktive monatliche Benutzer: 187.000
• Anteil mobiler Buchungen: 22 % aller Reservierungen

Social-Media-Plattformen

Plattform	Anhänger	Engagement-Rate
Instagram	215,000	2.8%
Facebook	345,000	1.9%
Twitter	89,000	1.2%

Verkaufs- und Reservierungsteams vor Ort

Leistungskennzahlen des Reservierungsteams:

• Gesamtzahl der Reservierungsmitarbeiter: 275 Mitarbeiter
• Durchschnittliche Bearbeitungszeit pro Anruf: 7,2 Minuten
• Kundenzufriedenheitsbewertung: 4,6/5

Eigentum	Größe des Verkaufsteams vor Ort	Jährliche Gruppenbuchungen
Gaylord Opryland	45 Mitarbeiter	1.200 Gruppenveranstaltungen
Gaylord-Palmen	38 Mitarbeiter	980 Gruppenveranstaltungen
Gaylord Texan	42 Mitarbeiter	1.100 Gruppenveranstaltungen

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Kundensegmente

Teilnehmer von Firmenveranstaltungen und Konferenzen

Ryman Hospitality Properties generiert in seinen Häusern erhebliche Einnahmen aus Firmenveranstaltungen und Konferenzen.

Metrisch	Wert
Jährliche Einnahmen aus Unternehmensveranstaltungen	187,3 Millionen US-Dollar (2022)
Durchschnittliche Konferenzteilnahme	42.500 pro Objekt jährlich
Gesamte Konferenzeinrichtungen	5 große Tagungshotels

Unterhaltungs- und Konzertbegeisterte

Das Unternehmen betreibt mehrere ikonische Unterhaltungsstätten, die Musikfans anziehen.

• Jährliche Besucherzahl der Grand Ole Opry: 1,3 Millionen Besucher
• Ryman Auditorium-Konzerte pro Jahr: 180
• Durchschnittlicher Konzertkartenpreis: 68,50 $

Geschäftsreisende

Ryman richtet sich mit seinen strategisch günstig gelegenen Unterkünften an Geschäftsreisende.

Segment Geschäftsreisen	Statistiken
Gesamtzahl der Hotelzimmer	8.200 Zimmer
Durchschnittliche tägliche Geschäftsauslastung	62.4%
Durchschnittlicher Zimmerpreis für Geschäftsreisende	224 $ pro Nacht

Kunden aus Freizeit und Tourismus

Urlaubsreisende stellen ein bedeutendes Kundensegment für Ryman Hospitality Properties dar.

• Jährlicher Umsatz mit Freizeitgästen: 342,6 Millionen US-Dollar
• Durchschnittliche Freizeitaufenthaltsdauer: 2,7 Nächte
• Zufriedenheitsbewertung der Freizeitgäste: 4,3/5

Teilnehmer von Musik- und Kulturveranstaltungen

Ryman-Unterkünfte sind auf Musik- und Kulturveranstaltungserlebnisse spezialisiert.

Kennzahlen zu kulturellen Veranstaltungen	Daten
Teilnehmer der jährlichen Musikveranstaltung	1,8 Millionen
Einnahmen aus kulturellen Veranstaltungen	124,7 Millionen US-Dollar
Anzahl einzigartiger kultureller Veranstaltungen	520 pro Jahr

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Kostenstruktur

Kosten für die Instandhaltung und Renovierung von Immobilien

Für das Geschäftsjahr 2023 meldete Ryman Hospitality Properties Gesamtkosten für die Instandhaltung und Renovierung der Immobilie in Höhe von 78,4 Millionen US-Dollar. Die Aufschlüsselung der Ausgaben umfasst:

Kategorie	Ausgabenbetrag
Routinewartung	42,6 Millionen US-Dollar
Große Renovierungen	35,8 Millionen US-Dollar

Mitarbeitergehälter und Betriebskosten

Die gesamten mitarbeiterbezogenen Ausgaben für 2023 betrugen 215,3 Millionen US-Dollar, darunter:

• Grundgehälter: 142,7 Millionen US-Dollar
• Sozialleistungen und Gesundheitsversorgung: 36,9 Millionen US-Dollar
• Leistungsprämien: 25,7 Millionen US-Dollar
• Schulung und Entwicklung: 10 Millionen US-Dollar

Marketing- und Werbeinvestitionen

Die Marketingausgaben für 2023 beliefen sich auf insgesamt 47,2 Millionen US-Dollar:

Marketingkanal	Ausgaben
Digitales Marketing	18,6 Millionen US-Dollar
Traditionelle Werbung	15,3 Millionen US-Dollar
Event-Sponsoring	13,3 Millionen US-Dollar

Technologie- und Infrastruktur-Upgrades

Die Technologieinvestitionen für 2023 betrugen 32,5 Millionen US-Dollar, aufgeteilt wie folgt:

• IT-Infrastruktur: 15,7 Millionen US-Dollar
• Verbesserungen der Cybersicherheit: 8,3 Millionen US-Dollar
• Immobilienverwaltungssysteme: 6,2 Millionen US-Dollar
• Customer Experience Technologies: 2,3 Millionen US-Dollar

Kosten für Veranstaltungsproduktion und -management

Die veranstaltungsbedingten Kosten für das Jahr 2023 beliefen sich auf 92,6 Millionen US-Dollar:

Kategorie der Veranstaltungskosten	Betrag
Produktionskosten	53,4 Millionen US-Dollar
Talent- und Leistungshonorare	29,7 Millionen US-Dollar
Technische Ausrüstung	9,5 Millionen US-Dollar

Ryman Hospitality Properties, Inc. (RHP) – Geschäftsmodell: Einnahmequellen

Einnahmen aus Hotelzimmern

Für das Geschäftsjahr 2022 meldete Ryman Hospitality Properties einen Hotelumsatz von insgesamt 669 Millionen US-Dollar. Das Unternehmen betreibt fünf große Kongresszentrumshotels:

• Gaylord Opryland Resort & Kongresszentrum in Nashville
• Gaylord Palms Resort & Kongresszentrum in Orlando
• Gaylord Texan Resort & Kongresszentrum in Grapevine
• Gaylord National Resort & Kongresszentrum im National Harbor
• Gaylord Rocky Mountains Resort & Kongresszentrum in Aurora

Verkauf von Veranstaltungstickets

Die Einnahmen aus Unterhaltungsstätten, insbesondere den Standorten Grand Ole Opry und Ole Red, generierten im Jahr 2022 79,4 Millionen US-Dollar.

Veranstaltungsort	Jahresumsatz (2022)
Grand Ole Opry	45,2 Millionen US-Dollar
Ole Red Veranstaltungsorte	34,2 Millionen US-Dollar

Gebühren für Veranstaltungsortmiete und Hosting

Die Vermietung von Kongresszentren und Tagungsräumen erwirtschaftete im Jahr 2022 etwa 213 Millionen US-Dollar, was einen erheblichen Teil der gesamten Einnahmequellen des Unternehmens darstellt.

Gebühren für Bewirtungsleistungen

Zusätzliche Serviceeinnahmen, einschließlich Speisen und Getränke, Annehmlichkeiten und Nebendienstleistungen, trugen im Jahr 2022 142,5 Millionen US-Dollar bei.

Sponsoring- und Partnerschaftserträge

Die Sponsoring- und Partnerschaftseinnahmen aus den Unterhaltungs- und Gastgewerbesegmenten beliefen sich im Jahr 2022 auf insgesamt 22,3 Millionen US-Dollar.

Gesamtumsatz für 2022: 1,126 Milliarden US-Dollar

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Ryman Hospitality Properties, Inc. (RHP) captures market share. The value proposition centers on scale, integration, and long-term revenue visibility.

All-in-one destination resorts for large-scale conventions and events

Ryman Hospitality Properties, Inc. (RHP) offers massive, self-contained convention destinations. The company's portfolio includes five of the top seven largest non-gaming convention center hotels in the United States, based on total indoor meeting space. This scale is a major draw for large corporate and association groups.

Premium, large-format meeting space, the largest non-gaming hotel space in the U.S.

The commitment to scale is evident in ongoing projects. For example, the expansion at Gaylord Opryland Resort & Convention Center is set to bring its total exhibit and meeting space to approximately 756,000 square feet, solidifying its position as the largest non-gaming hotel in the U.S. by this metric. This physical capacity is a primary value driver.

High forward booking visibility, with 2026/2027 group rooms revenue up 9% and 10%

The group business provides significant revenue certainty well into the future. As of mid-2025, Ryman Hospitality Properties projected better rooms revenue on the books for future years, specifically showing increases of 9% and 13% compared to the same time last year for those periods. More recently, as of the third quarter of 2025, estimated same-store group rooms revenue on the books for 2026 was pacing up nearly 8 percent compared to 2025 levels at the same time last year. This forward visibility helps smooth out operating results.

Unique blend of hospitality and iconic country music entertainment

RHP integrates large-scale lodging with unique, high-demand entertainment assets. The company holds an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG). This segment includes iconic venues like the Grand Ole Opry and the Ryman Auditorium, creating a dual-asset appeal for both business and leisure travelers.

Resilient, recurring revenue model from group business

The group segment underpins the recurring revenue stream. For the twelve months ending September 30, 2025, Ryman Hospitality Properties, Inc. reported total revenue of $2.487 Billion USD. The Hospitality segment alone generated revenue of $500.9 million for the third quarter of 2025. Furthermore, the company booked over 667,000 same-store Hospitality Gross Definite Room Nights for all future periods as of the third quarter of 2025, achieving an estimated Average Daily Rate (ADR) of $291 on those future bookings. That's a lot of future revenue locked in.

Here's a quick look at the scale of the Hospitality segment as of Q3 2025:

Metric	Amount/Value
Q3 2025 Hospitality Segment Revenue	$500.9 million
Total Future Gross Definite Room Nights Booked (Q3 2025)	Over 667,000
Estimated ADR on Future Bookings (Q3 2025)	$291
Total TTM Revenue (Ending Sep 30, 2025)	$2.487 Billion USD

Finance: draft 13-week cash view by Friday.

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Customer Relationships

You're managing a portfolio of destination hotels that rely heavily on large group bookings, so your customer relationships are everything. Ryman Hospitality Properties, Inc. (RHP) focuses its relationship strategy on securing those high-value, long-term group commitments while also capturing the transient leisure traveler and leveraging massive third-party loyalty networks.

Dedicated group sales and account management via Marriott

Ryman Hospitality Properties, Inc. operates its premier hotel assets, like the Gaylord Hotels, under management agreements with Marriott International. This means your dedicated sales and account management teams are deeply integrated into the Marriott ecosystem, which is crucial for servicing the group business segment that forms the core of the Hospitality segment.

The sheer scale of the managed portfolio is significant, featuring a combined total of 12,364 rooms across top convention and leisure destinations. Furthermore, Ryman Hospitality Properties, Inc. owns five of the top seven largest non-gaming convention center hotels in the United States, based on total indoor meeting space. This physical footprint, coupled with Marriott's global reach, is what drives the group pipeline.

Here are some key metrics showing the success of this group relationship focus as of late 2025:

Metric	Period/Context	Value
Same-Store Gross Definite Room Nights Booked	Q3 2025 (for all future periods)	Over 667,000
Estimated Average Daily Rate (ADR) on Q3 2025 Bookings	Q3 2025 (for all future periods)	$291 (All-time quarterly record)
Estimated Group Rooms Revenue Pacing Increase	2026 vs. 2025 (as of Q3 2025)	Up nearly 8 percent
Total Indoor and Outdoor Meeting Space	Portfolio Total	More than 3 million square feet

High-touch, long-term relationships with association and corporate meeting planners

The business model is explicitly centered on the large group meetings business, which requires deep, high-touch engagement with meeting planners. These relationships are built on securing future dates, often years out, which provides revenue visibility. You're looking for repeat business from these planners who value the destination amenities and the scale of the convention space.

The booking pace data shows planners are committing to future stays, which validates the long-term nature of these relationships. For instance, in the fourth quarter of 2024, nearly 1.3 million same-store Gross Definite Room Nights were booked for all future years. This focus on future bookings is a direct result of strong planner relationships.

The leisure segment, which fills in the gaps when groups aren't traveling, makes up about 30% of the business, used to fill hotels during holiday periods and summertime.

Loyalty programs leveraged through the Marriott ecosystem

Since the hotels are managed by Marriott International, Ryman Hospitality Properties, Inc. benefits significantly from the massive scale of the Marriott Bonvoy loyalty program. This allows RHP to capture revenue from members who are loyal to the broader Marriott brand, even if they are staying at a Gaylord property for the first time.

The broader industry context shows just how powerful this ecosystem is:

• Marriott Bonvoy leads the sector with 228 million members.
• Loyalty members booked 62% of room nights at major chains like Marriott and Hilton.
• Loyalty program members generally contribute between 30% and 60% of room revenue.

This reliance on the ecosystem means RHP benefits from the high engagement rates without bearing the full cost or management burden of a proprietary, standalone program of that size. It's a relationship built on scale and shared customer base.

Direct engagement with entertainment fans at venues and festivals

Ryman Hospitality Properties, Inc. also cultivates direct relationships with entertainment fans through its Opry Entertainment Group (OEG) segment, which owns iconic brands like the Grand Ole Opry and the Ryman Auditorium. This segment provides a direct-to-consumer channel that complements the group business.

Recent strategic moves show an intent to deepen this direct engagement:

• In Q1 2025, Opry Entertainment Group (OEG) made a strategic investment in Southern Entertainment, a leading festival and live event operator.
• Subsequent to Q1 2025, OEG was announced to be awarded a 10-year contract to operate the 6,800-seat Ascend Amphitheater in Nashville, starting in 2026.

This direct engagement with entertainment consumers supports the overall brand strength and drives ancillary revenue, which is important since the Entertainment segment reported revenue of $91.6 million in Q3 2025. Finance: draft 13-week cash view by Friday.

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Channels

You're looking at how Ryman Hospitality Properties, Inc. (RHP) gets its product-premium group lodging and entertainment-to the customer. This is a mix of massive third-party leverage and dedicated in-house sales power.

Marriott International's global sales organization acts as a primary distribution channel for the Hospitality segment. Ryman Hospitality Properties owns a portfolio managed by Marriott International, which includes a combined total of 11,414 rooms and more than 3 million square feet of total indoor and outdoor meeting space across its destination hotels as of May 2025. The company acknowledged the strong execution of its Marriott sales teams in driving results.

The direct channel involves direct booking via Ryman Hospitality Properties and hotel websites. This channel captures leisure demand, which constitutes about 30% of total operations. To manage the base load, Ryman Hospitality Properties enters a year with approximately 50% occupancy already booked, aiming for a sustainable 75% occupancy through leisure and in-the-year group bookings.

The core of the sales effort relies on on-site sales teams for convention and banquet services. These teams drive the group business, which is the foundation of the Hospitality segment revenue of $500.9 million in the third quarter of 2025. The sales pipeline shows significant forward momentum:

• First quarter 2025 bookings for all future years increased over 10% compared to the prior year.
• Second quarter 2025 saw over 720,000 same-store Hospitality Gross Definite Room Nights booked for all future periods.
• Third quarter 2025 saw over 667,000 same-store Hospitality Gross Definite Room Nights booked for all future periods.
• Group rooms revenue on the books for 2026 is pacing up nearly 8% compared to the same time last year for 2025.
• Group rooms revenue on the books for 2027 is up 10% compared to the same time last year for 2026.
• Banquet and AV revenue increased 6.6% year-over-year in the first quarter of 2025.

The physical locations of entertainment venues (Ryman Auditorium, Ole Red) serve as direct-to-consumer channels for the Entertainment segment, which generated revenue of $91.6 million in the third quarter of 2025. The Ryman Auditorium, a National Historic Landmark, has an estimated annual revenue of $17.6M. The Ole Red brand, inspired by Blake Shelton, launched its flagship Nashville venue with a reported initial investment of $20 million. The segment is expanding this channel with the planned development of a second Category 10 location in Las Vegas, expected to open in late 2026.

Here's a look at the forward-looking group booking metrics that these sales channels are driving:

Metric	Period/Date	Value	Context
Same-Store Gross Definite Room Nights Booked	Q2 2025 (Future Periods)	Over 720,000	Hospitality Segment Booking Pace
Same-Store Gross Definite Room Nights Booked	Q3 2025 (Future Periods)	Over 667,000	Hospitality Segment Booking Pace
Estimated ADR for Q3 2025 Bookings	Q3 2025 (Future Periods)	$291	All-time quarterly record for future bookings
JW Marriott Desert Ridge Rooms	Acquisition Date (June 10, 2025)	950 rooms	Added to portfolio, managed by Marriott
Group Rooms Revenue on Books Growth	2026 vs. Same Time Last Year (2025)	Up nearly 8%	Pacing for the following year
Group Rooms Revenue on Books Growth	2027 vs. Same Time Last Year (2026)	Up 10%	Forward-looking pace

The on-site teams are also responsible for ancillary revenue streams, as seen by the 6.6% year-over-year increase in Banquet and AV revenue during the first quarter of 2025. Still, group attrition and cancellation revenue was approximately $6.7 million in that same quarter.

Finance: review the Q4 2025 group booking pace against the 2026 projection by end of January 2026.

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Customer Segments

You're looking at the core groups Ryman Hospitality Properties, Inc. (RHP) serves, which is heavily weighted toward large-scale events and destination travel.

The primary focus remains on large group business, which is the foundation of the Hospitality segment.

• Large corporate and association groups: This segment drives the majority of the Hospitality segment's room nights.
• The business saw a noted shift in Q2 2025, with a decline in banquet and AV revenue attributed primarily to a group mix shift from corporate to association group room nights.
• As of the third quarter of 2025, Ryman Hospitality Properties had booked over 667,000 same-store Hospitality Gross Definite Room Nights for all future periods.
• The estimated Average Daily Rate (ADR) on those Q3 2025 booked group nights was $291.
• The acquisition of the 950-room JW Marriott Phoenix Desert Ridge Resort & Spa in June 2025 added a turnkey asset in a top 10 group meetings market, creating incremental group customer rotation opportunities.
• The JW Marriott Desert Ridge booked nearly 50,000 Gross Definite Rooms Nights for all future periods as of September 30, 2025, at an estimated ADR of $372.

Transient and leisure travelers fill in the gaps, especially when group business is lighter, though the company noted specific transient rate risk in Nashville-based properties during 2025 revisions.

• Transient business is essential for filling off-peak periods.
• The company revised its full-year 2025 outlook to account for incremental transient rate risk, primarily for its Nashville-based hotel properties.

Country music fans and concert-goers are the core audience for the Entertainment segment, which includes the Ryman Auditorium and the Opry Entertainment Group (OEG) venues.

• Entertainment segment revenue for the third quarter of 2025 was $91.6 million.
• For the second quarter of 2025, Entertainment segment revenue hit an all-time quarterly record of $143.3 million.
• OEG announced a planned development of a second Category 10 location in the Flamingo Las Vegas Hotel & Casino complex, expected to open in late 2026.

Event promoters and third-party meeting planners are key intermediaries for securing the large group business that Ryman Hospitality Properties targets.

Here's a look at the top-line financial performance for the segments that serve these customers as of late 2025:

Metric (As of September 30, 2025)	Hospitality Segment	Entertainment Segment	Consolidated
Q3 2025 Revenue	$500.9 million	$91.6 million	$592.5 million
Q2 2025 Revenue	$516.2 million	$143.3 million	$659.5 million
Q3 2025 Adjusted EBITDAre	Not Separately Stated	Not Separately Stated	$173.1 million
Total Debt (As of March 31, 2025)	Not Separately Stated	Not Separately Stated	$3.37 billion

The total revenue for Ryman Hospitality Properties, Inc. for the trailing twelve months ending September 30, 2025, was $2.49B.

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Ryman Hospitality Properties, Inc. running, which is key to understanding their profitability picture, especially with ongoing capital projects. Here's the quick math on where the money goes.

Property-level operating expenses are a primary cost driver. For the twelve months ending September 30, 2025, Ryman Hospitality Properties reported total operating expenses of $2.022B. For the fiscal quarter ending in September of 2025 specifically, operating expenses were reported at $501.91M. Ryman Hospitality Properties has signaled that property-level operating expenses are expected to rise by 4% in 2025 compared to the previous year. This increase is heavily influenced by labor costs, which analysts noted could see a high single-digit Compound Annual Growth Rate increase due to union contracts.

The company is actively investing in its asset base, making significant capital expenditures for renovations and expansion a major cost component. Ryman Hospitality Properties has identified $1 billion in capital investment opportunities over the next four years. For context on recent spending, in 2024, the company expected to invest between $290 million to $360 million in its Hospitality business and between $70 million to $80 million in its Entertainment business. As of the second quarter of 2025, Ryman Hospitality Properties announced they were nearly halfway through this multi-year capital program, which includes ongoing rooms renovation at the Gaylord Texan and meeting space renovation at the JW Marriott Desert Ridge.

The relationship with Marriott International dictates ongoing management fees paid to Marriott International. For the full year 2023, these fees totaled $66,425 thousand (or $66.425 million). Furthermore, in 2023, same-store incentive management fee expense was $29.1 million for the year.

Financing the portfolio involves substantial interest expense on debt. A key component is the $1.0 billion aggregate principal amount of 6.500% senior notes due 2032, which closed in March 2024. The annual interest obligation on just these notes is $65.0 million (calculated as $1,000,000,000 multiplied by 6.500%). Interest on these notes is scheduled to be paid on June 15 and December 15, beginning on December 15, 2025.

The day-to-day running of the entertainment venues and hotel food/beverage operations results in significant costs of goods sold for food, beverage, and entertainment operations. For the fiscal quarter ending in September of 2025, Ryman Hospitality Properties reported a Cost of Sales figure of $491.2M.

You can see a snapshot of these key cost elements below. What this estimate hides, of course, is the allocation between the Hospitality and Entertainment segments, but these are the big buckets of cash outflow.

Cost Category Detail	Latest Reported/Projected Amount	Period/Context
Total Operating Expenses (TTM)	$2.022B	Twelve Months ending September 30, 2025
Property-Level Operating Expenses (Quarterly)	$501.91M	Fiscal Quarter ending September 2025
Expected Operating Expense Growth	4%	Compared to the previous year (2025 projection)
Planned Capital Investment Total	$1 billion	Over the next four years
Cost of Sales (COGS Proxy)	$491.2M	Fiscal Quarter ending September 2025
Annual Interest on 6.500% Senior Notes	$65.0 million	Based on $1.0B principal amount
2023 Management Fees	$66,425 thousand	Full Year 2023

You should also note the specific costs tied to the Entertainment segment, which is managed separately but consolidated:

• Entertainment Operating Expenses (Q3 2025): $110.376 million
• Entertainment Operating Expenses (Q2 2025): $59.560 million
• Entertainment Adjusted EBITDAre (Q2 2025): $34 million

Finance: draft 13-week cash view by Friday.

Ryman Hospitality Properties, Inc. (RHP) - Canvas Business Model: Revenue Streams

Ryman Hospitality Properties, Inc. generates its top-line revenue from two primary operating segments: Hospitality and Entertainment. For the third quarter of 2025, the company reported consolidated revenue of $592.5 million, which is the sum of these two streams.

The Hospitality segment is the largest contributor to overall revenue. This segment focuses on group-oriented, destination hotel assets, primarily the Gaylord Hotels properties. The Entertainment segment, which includes the Opry Entertainment Group (OEG) assets, provides significant, complementary revenue.

Here is a breakdown of the key revenue components as reported for the third quarter of 2025:

• Hospitality segment revenue: $500.9 million
• Entertainment segment revenue: $91.6 million

The group business within the Hospitality segment is critical, driven by room nights and associated spending. During Q3 2025, Ryman Hospitality Properties booked over 667,000 same-store Hospitality Gross Definite Room Nights for all future periods. This booking pace was achieved at an all-time quarterly record estimated average daily rate (ADR) of $291. To give you a specific property example, the JW Marriott Desert Ridge booked nearly 50,000 Gross Definite Rooms Nights for all future periods at an estimated ADR of $372.

The revenue structure is further detailed by the following performance metrics from the Q3 2025 reporting period:

Revenue Stream Component	Q3 2025 Financial Metric	Amount/Rate
Hospitality Segment Revenue	Reported Revenue	$500.9 million
Entertainment Segment Revenue	Reported Revenue	$91.6 million
Group Room Nights Booked (Future Periods)	Same-Store Gross Definite Room Nights	Over 667,000
Group Room Nights ADR	Estimated Average Daily Rate	$291

Beyond the core room revenue, high-margin outside-the-room spend is a significant driver. This includes food, beverage, and banquet sales generated from the large group and convention business hosted at the resort properties. Also, the Entertainment segment fuels revenue through ticket sales and merchandise from Opry Entertainment Group (OEG) assets, which is definitely a growth area, evidenced by the announced second Category 10 location development in Las Vegas.