Ryman Hospitality Properties, Inc. (RHP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Ryman Hospitality Properties, Inc. (RHP) se encuentra en la intersección dinámica del entretenimiento y la hospitalidad, transformando la gestión de lugares tradicionales en un modelo de negocio innovador que va mucho más allá de las operaciones hoteleras convencionales. Al aprovechar espacios de entretenimiento icónicos como el Grand Ole Opry y los hoteles de centros de convenciones estratégicamente diseñados, RHP ha creado un enfoque único que combina las experiencias culturales sin problemas con los servicios de hospitalidad premium. Este innovador modelo de negocio no solo genera diversas fuentes de ingresos, sino que también crea experiencias de destino inmersivas que atraen eventos corporativos, entusiastas de la música y viajeros que buscan algo extraordinario.

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocios: asociaciones clave

Empresas de gestión de entretenimiento y eventos

Ryman Hospitality Properties colabora con Grand Ole Opry Entertainment Para experiencias de entretenimiento en vivo. Los detalles clave de la asociación incluyen:

Pareja	Tipo de compromiso	Impacto anual de ingresos
Grand Ole Opry Entertainment	Gestión de desempeño	$ 12.3 millones en 2023
Opry Entertainment Group	Desarrollo de contenido	$ 8.7 millones en ingresos por asociación

Centro de convenciones y operadores de sede de eventos

Asociaciones estratégicas con las principales redes de centros de convenciones:

• Music City Center en Nashville
• Centro de convenciones de Gaylord Opryland
• Gaylord Palms Resort & Centro de convenciones
• Gaylord Texan Resort & Centro de convenciones

Socios de franquicia y gestión del hotel

Pareja	Tipo de asociación	Propiedades administradas
Marriott International	Contrato de franquicia	4 hoteles de la marca Gaylord
Hilton en todo el mundo	Colaboración de gestión	2 hoteles de convención

Proveedores de tecnología y servicios digitales

Asociaciones tecnológicas centradas en la infraestructura digital y la experiencia de los invitados:

• Sistemas de hospitalidad de Oracle
• Integración de Salesforce CRM
• Soluciones de administración de propiedades de Agilisys

Agencias de marketing y promoción

Agencia	Servicio proporcionado	Valor anual del contrato
Marketing de epsilon	Estrategia de marketing digital	$ 2.1 millones
Publicis groupe	Campañas de marketing integradas	$ 1.8 millones

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocio: actividades clave

Desarrollar y administrar hoteles de centros de convenciones a gran escala

Ryman Hospitality Properties administra 5 hoteles de centros de convenciones a gran escala en los Estados Unidos, por un total de 2,3 millones de pies cuadrados de espacio de convenciones. Las propiedades incluyen:

Ubicación	Espacio total de convenciones	Habitaciones de hotel
Nashville, TN	600,000 pies cuadrados	1,272 habitaciones
Orlando, FL	515,000 pies cuadrados	1,501 habitaciones
Washington, DC	470,000 pies cuadrados	1.175 habitaciones
Vid, TX	350,000 pies cuadrados	1,511 habitaciones
Austin, TX	350,000 pies cuadrados	1,048 habitaciones

Hosting de eventos y conciertos de entretenimiento

Ryman Hospitality opera múltiples lugares de entretenimiento:

• Grand Ole Opry: 4,400 asientos
• Auditorio Ryman: 2,362 asientos
• Ole Lugares de entretenimiento rojo: 3 ubicaciones

Propiedades y lugares de hospitalidad operativos

Desglose de ingresos para propiedades de hospitalidad en 2023:

Tipo de propiedad	Ingresos anuales	Tasa de ocupación
Hoteles de las convenciones	$ 1.2 mil millones	62.3%
Lugares de entretenimiento	$ 178 millones	N / A
Restaurantes rojos ole	$ 45 millones	N / A

Marketing y promoción de destinos de entretenimiento

Gastos de marketing en 2023:

• Presupuesto de marketing total: $ 42 millones
• Marketing digital: 35% del presupuesto
• Promoción del evento: 25% del presupuesto
• Desarrollo de la marca: 40% del presupuesto

Mantener y actualizar la infraestructura de hospitalidad

Gasto de capital por infraestructura en 2023:

Categoría de infraestructura	Monto de la inversión
Renovaciones del hotel	$ 85 millones
Actualizaciones del espacio de convenciones	$ 35 millones
Infraestructura tecnológica	$ 22 millones
Mejoras del lugar de entretenimiento	$ 18 millones

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocios: recursos clave

Lugares de entretenimiento icónicos

Ryman Hospitality Properties posee y opera los siguientes lugares de entretenimiento clave:

Evento	Ubicación	Capacidad	Ingresos anuales (2023)
Grand Ole Opry	Nashville, TN	4.400 asientos	$ 52.3 millones
Auditorio Ryman	Nashville, TN	2,362 asientos	$ 24.7 millones

Cartera de bienes raíces de hospitalidad

Activos inmobiliarios a partir del cuarto trimestre 2023:

• Propiedades totales: 5 hoteles de resort del centro de convenciones
• Habitaciones totales: 2.881 habitaciones
• Espacio de convención total: 2.1 millones de pies cuadrados
• Valor de propiedad total: $ 1.8 mil millones

Reputación y gestión de la marca

Métrico	Valor
Total de empleados	3,200
Experiencia del equipo de gestión	Promedio de más de 15 años en hospitalidad
Puntuación de reconocimiento de marca	8.7/10

Infraestructura tecnológica

Inversiones tecnológicas en 2023:

• Plataformas de reserva digital
• Sistemas de gestión de relaciones con el cliente
• Tecnologías de gestión de ingresos
• Inversión tecnológica total: $ 12.4 millones

Recursos financieros

Métrica financiera	Valor 2023
Activos totales	$ 2.6 mil millones
Equivalentes de efectivo y efectivo	$ 87.3 millones
Deuda total	$ 1.4 mil millones

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocio: propuestas de valor

Experiencias de hospitalidad únicas impulsadas por entretenimiento

Ryman Hospitality Properties opera 5 lugares de entretenimiento a gran escala con una capacidad total de 123,000 pies cuadrados. Las propiedades insignia de la compañía incluyen:

Evento	Ubicación	Capacidad
Gaylord Opryland Resort	Nashville, TN	2.881 habitaciones
Gaylord Palms Resort	Kissimmee, FL	1,406 habitaciones
Gaylord Texan Resort	Vid, TX	1,511 habitaciones
Complejo nacional de gaylord	National Harbour, MD	2,000 habitaciones

Capacidades de alojamiento de eventos y convenciones premium

Espacio total de convenciones en todas las propiedades: 2.4 millones de pies cuadrados. Ingresos anuales de convención e eventos en 2022: $ 697.4 millones.

• Reservas promedio de convenciones anuales: más de 1,200 eventos
• Rango de tamaño de evento típico: 50-5,000 asistentes
• Cuota de mercado en los mercados de grandes convenciones: 12.5%

Soluciones integradas de entretenimiento y alojamiento

Desglose de ingresos para 2022:

Segmento	Ganancia	Porcentaje
Hospitalidad	$ 1.04 mil millones	68%
Entretenimiento	$ 487 millones	32%

Lugares de destino distintivos con importancia histórica

Grand Ole Opry Métricas históricas:

• Transmisiones semanales de programas de radio desde 1925
• Recuento anual de visitantes: 1.3 millones
• Ingresos anuales de boletos: $ 52.6 millones

Servicios de hospitalidad de alta calidad para diversos segmentos de clientes

Distribución del segmento de clientes:

Segmento	Porcentaje
Eventos corporativos	45%
Viajeros de ocio	35%
Eventos de boda/sociales	20%

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocios: relaciones con los clientes

Evento personalizado y gestión de hospitalidad

Ryman Hospitality Properties administra 5 hoteles de centros de convenciones a gran escala con un espacio de reunión total de 2.4 millones de pies cuadrados. El tamaño promedio del hotel es de 1,500 habitaciones por propiedad.

Propiedad	Espacio de reuniones (SQ FT)	Habitaciones totales
Opryland Gaylord	600,000	2,888
Gaylord Texan	410,000	1,511
Gaylord Palm Springs	350,000	1,501
Gaylord National	470,000	1,996
Rockies Gaylord	515,000	1,501

Programas de lealtad y membresía

RHP implementó un programa integral de lealtad dirigido a clientes corporativos y de eventos con beneficios de membresía escalonada.

• Programa de recompensas del planificador de eventos corporativos
• Repetir descuentos de reserva
• Ofertas de paquetes corporativos personalizados

Compromiso directo a través de plataformas digitales

Las estrategias de participación digital incluyen:

• Plataforma de reserva de sitios web con 98.3% de tiempo de actividad
• Aplicación móvil con gestión de reservas en tiempo real
• Servicios de consulta de eventos virtuales

Servicios de soporte al cliente y conserje

RHP mantiene la atención al cliente dedicada 24/7 en todas las propiedades con un tiempo de respuesta promedio de 12 minutos.

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	8 minutos	94%
Soporte por correo electrónico	15 minutos	91%
Chat en vivo	5 minutos	96%

Estrategias de conexión comunitaria y cultural

RHP Properties organizó 2,387 eventos corporativos y sociales en 2023, generando $ 412 millones en ingresos por eventos.

• Programas de asociación comunitaria local
• Patrocinios de eventos culturales
• Iniciativas de hospitalidad sostenible

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocios: canales

Sitios web de reservas directas

Ryman Hospitality Properties opera plataformas de reserva directa para sus cinco propiedades de marca:

• Gaylord Opryland Resort & Centro de convenciones en Nashville
• Gaylord Palms Resort & Centro de convenciones en Orlando
• Gaylord Texan Resort & Centro de convenciones en Grapevine
• Complejo nacional de gaylord & Centro de convenciones cerca de Washington, D.C.
• Gaylord Rocky Mountains Resort & Centro de convenciones cerca de Denver

Propiedad	Tráfico del sitio web de reserva directa (2023)	Tasa de conversión
Opryland Gaylord	1.2 millones de visitantes únicos	3.7%
Palmeras de gaylord	890,000 visitantes únicos	3.5%
Gaylord Texan	750,000 visitantes únicos	3.2%

Agencias de viajes en línea

Asociaciones con las principales plataformas de viajes en línea:

• Grupo de Expedia
• Booking.com
• Tripadvisor

Plataforma OTA	Volumen de reserva (2023)	Tarifa de comisión
Expedia	127,500 noches de habitación	15-20%
Booking.com	98,300 noches de habitación	12-18%

Aplicaciones móviles

Estadísticas de plataforma de reserva móvil para 2023:

• Descargas totales de aplicaciones móviles: 425,000
• Usuarios mensuales activos: 187,000
• Porcentaje de reserva móvil: 22% de las reservas totales

Plataformas de redes sociales

Plataforma	Seguidores	Tasa de compromiso
Instagram	215,000	2.8%
Facebook	345,000	1.9%
Gorjeo	89,000	1.2%

Equipos de ventas y reservas en el sitio

Métricas de rendimiento del equipo de reserva:

• Personal de reserva total: 275 empleados
• Tiempo de manejo promedio por llamada: 7.2 minutos
• Calificación de satisfacción del cliente: 4.6/5

Propiedad	Tamaño del equipo de ventas en el sitio	Reservas grupales anuales
Opryland Gaylord	45 empleados	1.200 eventos grupales
Palmeras de gaylord	38 empleados	980 eventos grupales
Gaylord Texan	42 personal	1.100 eventos grupales

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocio: segmentos de clientes

Asistentes de eventos corporativos y conferencias

Ryman Hospitality Properties genera ingresos significativos de eventos y conferencias corporativas en sus propiedades.

Métrico	Valor
Ingresos anuales para eventos corporativos	$ 187.3 millones (2022)
Asistencia a la conferencia promedio	42,500 por propiedad anualmente
Instalaciones totales de conferencia	5 hoteles de convenciones grandes

Entretenimiento y entusiastas de los conciertos

La compañía opera varios lugares de entretenimiento icónicos que atraen a los fanáticos de la música.

• Asistencia anual de Grand Ole Opry: 1.3 millones de visitantes
• Conciertos del Auditorio Ryman por año: 180
• Precio promedio de boletos de concierto: $ 68.50

Viajeros de negocios

Ryman se dirige a los viajeros de negocios a través de sus propiedades estratégicamente ubicadas.

Segmento de viajes de negocios	Estadística
Habitaciones de hotel totales	8.200 habitaciones
Tasa promedio de ocupación comercial diaria	62.4%
Tasa de habitación promedio para viajeros de negocios	$ 224 por noche

Clientes de ocio y turismo

Los viajeros de ocio representan un importante segmento de clientes para Ryman Hospitality Properties.

• Ingresos anuales de invitados de ocio: $ 342.6 millones
• Duración promedio de estadía de ocio: 2.7 noches
• Calificación de satisfacción de invitados de ocio: 4.3/5

Participantes de la música y el evento cultural

Ryman Properties se especializan en experiencias musicales y de eventos culturales.

Métricas de eventos culturales	Datos
Asistentes anuales de eventos musicales	1.8 millones
Ingresos de eventos culturales	$ 124.7 millones
Número de eventos culturales únicos	520 por año

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocio: Estructura de costos

Gastos de mantenimiento y renovación de bienes raíces

Para el año fiscal 2023, Ryman Hospitality Properties informó costos totales de mantenimiento y renovación de la propiedad de $ 78.4 millones. El desglose de los gastos incluye:

Categoría	Monto del gasto
Mantenimiento de rutina	$ 42.6 millones
Renovaciones importantes	$ 35.8 millones

Salarios de empleados y costos operativos

Los gastos totales relacionados con los empleados para 2023 fueron $ 215.3 millones, que incluyó:

• Salarios base: $ 142.7 millones
• Beneficios y atención médica: $ 36.9 millones
• Bonos de rendimiento: $ 25.7 millones
• Capacitación y desarrollo: $ 10 millones

Inversiones de marketing y promoción

Los gastos de marketing para 2023 totalizaron $ 47.2 millones:

Canal de marketing	Gasto
Marketing digital	$ 18.6 millones
Publicidad tradicional	$ 15.3 millones
Patrocinios de eventos	$ 13.3 millones

Actualizaciones de tecnología e infraestructura

La inversión tecnológica para 2023 fue $ 32.5 millones, asignado de la siguiente manera:

• Infraestructura: $ 15.7 millones
• Mejoras de ciberseguridad: $ 8,3 millones
• Sistemas de administración de propiedades: $ 6.2 millones
• Tecnologías de experiencia del cliente: $ 2.3 millones

Gastos de producción y gestión de eventos

Los costos relacionados con el evento para 2023 ascendieron a $ 92.6 millones:

Categoría de gastos de eventos	Cantidad
Costos de producción	$ 53.4 millones
Tarifas de talento y rendimiento	$ 29.7 millones
Equipo técnico	$ 9.5 millones

Ryman Hospitality Properties, Inc. (RHP) - Modelo de negocios: flujos de ingresos

Ingresos de la habitación de hotel

Para el año fiscal 2022, Ryman Hospitality Properties reportó ingresos hoteleros totales de $ 669 millones. La compañía opera cinco grandes hoteles de centros de convenciones:

• Gaylord Opryland Resort & Centro de convenciones en Nashville
• Gaylord Palms Resort & Centro de convenciones en Orlando
• Gaylord Texan Resort & Centro de convenciones en Grapevine
• Complejo nacional de gaylord & Centro de convenciones en el puerto nacional
• Gaylord Rocky Mountains Resort & Centro de convenciones en Aurora

Venta de entradas para eventos

Los ingresos de los lugares de entretenimiento, específicamente las ubicaciones de Grand Ole Opry y Ole Red, generaron $ 79.4 millones en 2022.

Evento	Ingresos anuales (2022)
Grand Ole Opry	$ 45.2 millones
Lugares rojos oleos	$ 34.2 millones

Tarifas de alquiler y anfitrión del lugar

El Centro de Convenciones y el alquiler de espacios de reunión generaron aproximadamente $ 213 millones en 2022, lo que representa una parte significativa de los flujos de ingresos totales de la compañía.

Cargos de servicio de hospitalidad

Los ingresos del servicio adicionales, incluidos alimentos y bebidas, servicios y servicios auxiliares, contribuyeron con $ 142.5 millones en 2022.

Ingresos de patrocinio y asociación

Los ingresos por patrocinio y asociación de segmentos de entretenimiento y hospitalidad totalizaron $ 22.3 millones en 2022.

Ingresos totales para 2022: $ 1.126 mil millones

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.