Ryman Hospitality Properties, Inc. (RHP): Business Model Canvas [Jan-2025 Mis à jour]

Ryman Hospitality Properties, Inc. (RHP) se tient à l'intersection dynamique du divertissement et de l'hospitalité, transformant la gestion traditionnelle des sites en un modèle commercial révolutionnaire qui va bien au-delà des opérations hôtelières conventionnelles. En tirant parti des espaces de divertissement emblématiques comme le Grand Ole Opry et les hôtels du Centre de congrès stratégiquement conçus, RHP a conçu une approche unique qui mélange de manière transparente les expériences culturelles avec des services d'accueil premium. Ce modèle commercial innovant génère non seulement divers sources de revenus, mais crée également des expériences de destination immersives qui attirent des événements d'entreprise, des amateurs de musique et des voyageurs à la recherche de quelque chose d'extraordinaire.

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: partenariats clés

Sociétés de divertissement et de gestion d'événements

Ryman Hospitality Properties collabore avec Grand Ole Opry Entertainment pour les expériences de divertissement en direct. Les détails clés du partenariat comprennent:

Partenaire	Type d'engagement	Impact annuel sur les revenus
Grand Ole Opry Entertainment	Gestion du rendement	12,3 millions de dollars en 2023
Groupe de divertissement OPRY	Développement de contenu	8,7 millions de dollars de revenus de partenariat

Centre des congrès et opérateurs de lieu d'événement

Partenariats stratégiques avec les principaux réseaux du centre des congrès:

• Music City Center à Nashville
• Gaylord Opryland Convention Center
• Gaylord Palms Resort & Centre de congrès
• Gaylord Texan Resort & Centre de congrès

Franchise hôtelière et partenaires de gestion

Partenaire	Type de partenariat	Propriétés gérées
Marriott International	Accord de franchise	4 hôtels de marque Gaylord
Hilton dans le monde	Collaboration de gestion	2 hôtels de convention

Provideurs de technologie et de services numériques

Les partenariats technologiques se sont concentrés sur l'infrastructure numérique et l'expérience des clients:

• Oracle Hospitality Systems
• Intégration CRM Salesforce
• Solutions de gestion immobilière Agilysys

Agences de marketing et de promotion

Agence	Service fourni	Valeur du contrat annuel
Marketing d'Epsilon	Stratégie de marketing numérique	2,1 millions de dollars
Groupe publique	Campagnes de marketing intégrées	1,8 million de dollars

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: activités clés

Développement et gestion des hôtels du centre de congrès à grande échelle

Ryman Hospitality Properties gère 5 hôtels du centre de congrès à grande échelle à travers les États-Unis, totalisant 2,3 millions de pieds carrés d'espace de convention. Les propriétés comprennent:

Emplacement	Espace total de la convention	Chambres d'hôtel
Nashville, TN	600 000 pieds carrés	1 272 chambres
Orlando, FL	515 000 pieds carrés	1 501 chambres
Washington, DC	470 000 pieds carrés	1 175 chambres
Vigne, TX	350 000 pieds carrés	1 511 chambres
Austin, TX	350 000 pieds carrés	1 048 chambres

Organiser des événements de divertissement et des concerts

Ryman Hospitality exploite plusieurs lieux de divertissement:

• Grand Ole Opry: 4 400 sièges
• Ryman Auditorium: 2 362 sièges
• Ole Red Entertainment Lieux: 3 emplacements

Opération des propriétés et lieux de l'hospitalité

Répartition des revenus pour les propriétés de l'hospitalité en 2023:

Type de propriété	Revenus annuels	Taux d'occupation
Hôtels de convention	1,2 milliard de dollars	62.3%
Lieux de divertissement	178 millions de dollars	N / A
Restaurants rouges	45 millions de dollars	N / A

Marketing et promotion des destinations de divertissement

Dépenses de marketing en 2023:

• Budget marketing total: 42 millions de dollars
• Marketing numérique: 35% du budget
• Promotion d'événements: 25% du budget
• Développement de la marque: 40% du budget

Maintenir et mettre à niveau les infrastructures hôtelières

Dépenses en capital pour les infrastructures en 2023:

Catégorie d'infrastructure	Montant d'investissement
Rénovations d'hôtel	85 millions de dollars
Mises à niveau de l'espace des congrès	35 millions de dollars
Infrastructure technologique	22 millions de dollars
Améliorations du lieu de divertissement	18 millions de dollars

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: Ressources clés

LIEUX DE DIVERTISSEMENT ICICLE

Ryman Hospitality Properties possède et exploite les principaux lieux de divertissement suivants:

Lieu	Emplacement	Capacité	Revenus annuels (2023)
Grand Ole Opry	Nashville, TN	4 400 sièges	52,3 millions de dollars
Auditorium Ryman	Nashville, TN	2 362 sièges	24,7 millions de dollars

Portefeuille immobilier hôtelier

Actifs immobiliers auprès du quatrième trimestre 2023:

• Propriétés totales: 5 hôtels du centre de congrès des congrès
• Chambres totales: 2 881 chambres
• Espace total de la convention: 2,1 millions de pieds carrés
• Valeur totale de la propriété: 1,8 milliard de dollars

Réputation et gestion de la marque

Métrique	Valeur
Total des employés	3,200
Expérience de l'équipe de gestion	En moyenne plus de 15 ans dans l'hospitalité
Score de reconnaissance de la marque	8.7/10

Infrastructure technologique

Investissements technologiques en 2023:

• Plateformes de réservation numérique
• Systèmes de gestion de la relation client
• Technologies de gestion des revenus
• Investissement total technologique: 12,4 millions de dollars

Ressources financières

Métrique financière	Valeur 2023
Actif total	2,6 milliards de dollars
Equivalents en espèces et en espèces	87,3 millions de dollars
Dette totale	1,4 milliard de dollars

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: propositions de valeur

Expériences d'hospitalité uniques axées sur le divertissement

Ryman Hospitality Properties exploite 5 lieux de divertissement à grande échelle d'une capacité totale de 123 000 pieds carrés. Les propriétés phares de l'entreprise comprennent:

Lieu	Emplacement	Capacité
Gaylord Opryland Resort	Nashville, TN	2 881 chambres
Gaylord Palms Resort	Kissimmee, FL	1 406 chambres
Gaylord Texan Resort	Vigne, TX	1 511 chambres
Gaylord National Resort	National Harbour, MD	2 000 chambres

Événement premium et capacités d'hébergement de congrès

Espace total de la convention à travers les propriétés: 2,4 millions de pieds carrés. Convention annuelle et revenus d'événements en 2022: 697,4 millions de dollars.

• Réservations moyennes de la convention annuelle: plus de 1 200 événements
• Plage de taille d'événement typique: 50 à 5 000 participants
• Part de marché sur les grands marchés de la convention: 12,5%

Solutions de divertissement et d'hébergement intégrés

Répartition des revenus pour 2022:

Segment	Revenu	Pourcentage
Hospitalité	1,04 milliard de dollars	68%
Divertissement	487 millions de dollars	32%

LIEUX DEISTRE DISSIQUEMENTS avec une signification historique

Grand Ole Opry Metrics historiques:

• Les émissions de radio hebdomadaires diffusent depuis 1925
• Compte annuel des visiteurs: 1,3 million
• Revenus de billets annuels: 52,6 millions de dollars

Services d'accueil de haute qualité pour divers segments de clients

Distribution du segment de la clientèle:

Segment	Pourcentage
Événements d'entreprise	45%
Voyageurs de loisir	35%
Événements de mariage / social	20%

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: relations avec les clients

Événement personnalisé et gestion de l'hôtellerie

Ryman Hospitality Properties gère 5 hôtels du centre de congrès à grande échelle avec un espace de réunion total de 2,4 millions de pieds carrés. La taille moyenne de l'hôtel est de 1 500 chambres par propriété.

Propriété	Espace de réunion (SQ FT)	Total Rooms
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
Rockies Gaylord	515,000	1,501

Programmes de fidélité et d'adhésion

RHP a mis en œuvre un programme de fidélité complet ciblant les entreprises et les clients d'événements avec Avantages d'adhésion à plusieurs niveaux.

• Programme de récompenses du planificateur d'événements d'entreprise
• Répéter les réductions de réservation
• Offres de colis d'entreprise personnalisées

Engagement direct via des plateformes numériques

Les stratégies d'engagement numérique comprennent:

• Plateforme de réservation de site Web avec une disponibilité de 98,3%
• Application mobile avec gestion de réservation en temps réel
• Services de consultation d'événements virtuels

Soutien client et services de conciergerie

RHP maintient le support client dédié 24/7 dans toutes les propriétés avec un temps de réponse moyen de 12 minutes.

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Support téléphonique	8 minutes	94%
Assistance par e-mail	15 minutes	91%
Chat en direct	5 minutes	96%

Stratégies de connexion communautaires et culturelles

RHP Properties a accueilli 2 387 événements d'entreprise et sociaux en 2023, générant 412 millions de dollars de revenus d'événements.

• Programmes de partenariat communautaire local
• Parrainages d'événements culturels
• Initiatives d'accueil durables

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: canaux

Sites Web de réservation directe

Ryman Hospitality Properties exploite des plateformes de réservation directes pour ses cinq propriétés de marque:

• Gaylord Opryland Resort & Centre des congrès à Nashville
• Gaylord Palms Resort & Centre des congrès à Orlando
• Gaylord Texan Resort & Centre des congrès de la vigne
• Gaylord National Resort & Centre des congrès près de Washington, D.C.
• Gaylord Rocky Mountains Resort & Centre des congrès près de Denver

Propriété	Trafic de site Web de réservation directe (2023)	Taux de conversion
Gaylord Opryland	1,2 million de visiteurs uniques	3.7%
Palmiers gaylord	890 000 visiteurs uniques	3.5%
Gaylord Texan	750 000 visiteurs uniques	3.2%

Agences de voyage en ligne

Partenariats avec les principales plateformes de voyage en ligne:

• Groupe Expedia
• Réservation.com
• Tripadvisor

Plate-forme OTA	Volume de réservation (2023)	Taux de commission
Expedia	127 500 nuits de chambre	15-20%
Réservation.com	98 300 nuits de chambre	12-18%

Applications mobiles

Statistiques de la plate-forme de réservation mobile pour 2023:

• Téléchargements totaux d'applications mobiles: 425 000
• Utilisateurs mensuels actifs: 187 000
• Pourcentage de réservation mobile: 22% des réservations totales

Plateformes de médias sociaux

Plate-forme	Abonnés	Taux d'engagement
Instagram	215,000	2.8%
Facebook	345,000	1.9%
Gazouillement	89,000	1.2%

Équipes de vente et de réservation sur place

Métriques de performance de l'équipe de réservation:

• Personnel de réservation total: 275 employés
• Temps de manutention moyen par appel: 7,2 minutes
• Évaluation de satisfaction du client: 4.6 / 5

Propriété	Taille de l'équipe de vente sur place	Réservations de groupe annuelles
Gaylord Opryland	45 personnel	1 200 événements de groupe
Palmiers gaylord	38 employés	980 événements de groupe
Gaylord Texan	42 personnel	1 100 événements de groupe

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: segments de clientèle

Événements d'entreprise et participants à la conférence

Ryman Hospitality Properties génère des revenus importants des événements et des conférences d'entreprise à travers ses propriétés.

Métrique	Valeur
Revenu des événements de l'entreprise annuelle	187,3 millions de dollars (2022)
Présistance à la conférence moyenne	42 500 par propriété par an
Total des installations de conférence	5 grands hôtels de convention

Divertissement et passionnés de concert

La société exploite plusieurs lieux de divertissement emblématiques attirant des fans de musique.

• Grand Ole Opry Annual Assistance: 1,3 million de visiteurs
• Concerts Ryman Auditorium par an: 180
• Prix ​​moyen des billets de concert: 68,50 $

Voyageurs d'affaires

Ryman cible les voyageurs d'affaires à travers ses propriétés stratégiquement situées.

Segment de voyage d'affaires	Statistiques
Chambres d'hôtel total	8 200 chambres
Taux d'occupation quotidienne moyen	62.4%
Taux de chambre moyen pour les voyageurs d'affaires	224 $ par nuit

Clients de loisirs et de tourisme

Les voyageurs de loisirs représentent un segment de clientèle important pour Ryman Hospitality Properties.

• Revenus annuels des invités de loisir: 342,6 millions de dollars
• Séjour de loisirs moyen Durée: 2,7 nuits
• Évaluation de satisfaction des invités de loisirs: 4.3 / 5

Participants à l'événement de musique et culturel

Ryman Properties se spécialise dans les expériences de musique et d'événements culturels.

Métriques d'événements culturels	Données
Parcissions annuelles sur les événements musicaux	1,8 million
Revenus d'événements culturels	124,7 millions de dollars
Nombre d'événements culturels uniques	520 par an

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: Structure des coûts

Dépenses de maintenance immobilière et de rénovation

Pour l'exercice 2023, Ryman Hospitality Properties a déclaré des coûts totaux de maintenance et de rénovation des biens de 78,4 millions de dollars. La rupture des dépenses comprend:

Catégorie	Montant des dépenses
Maintenance de routine	42,6 millions de dollars
Rénovations majeures	35,8 millions de dollars

Salaires et frais opérationnels des employés

Les dépenses totales liées aux employés pour 2023 étaient 215,3 millions de dollars, qui comprenait:

• Salaires de base: 142,7 millions de dollars
• Avantages et soins de santé: 36,9 millions de dollars
• Bonus de performance: 25,7 millions de dollars
• Formation et développement: 10 millions de dollars

Marketing et investissements promotionnels

Les dépenses de marketing pour 2023 ont totalisé 47,2 millions de dollars:

Canal de marketing	Dépenses
Marketing numérique	18,6 millions de dollars
Publicité traditionnelle	15,3 millions de dollars
Commandites d'événements	13,3 millions de dollars

Mises à niveau de la technologie et des infrastructures

L'investissement technologique pour 2023 était 32,5 millions de dollars, alloué comme suit:

• Infrastructure informatique: 15,7 millions de dollars
• Améliorations de la cybersécurité: 8,3 millions de dollars
• Systèmes de gestion immobilière: 6,2 millions de dollars
• Technologies d'expérience client: 2,3 millions de dollars

Dépenses de production et de gestion des événements

Les coûts liés à l'événement pour 2023 s'élevaient à 92,6 millions de dollars:

Catégorie de dépenses d'événements	Montant
Coûts de production	53,4 millions de dollars
Talent et frais de performance	29,7 millions de dollars
Équipement technique	9,5 millions de dollars

Ryman Hospitality Properties, Inc. (RHP) - Modèle d'entreprise: Strots de revenus

Revenus de la chambre d'hôtel

Pour l'exercice 2022, Ryman Hospitality Properties a déclaré des revenus totaux de l'hôtel de 669 millions de dollars. L'entreprise exploite cinq grands hôtels du Convention Center:

• Gaylord Opryland Resort & Centre des congrès à Nashville
• Gaylord Palms Resort & Centre des congrès à Orlando
• Gaylord Texan Resort & Centre des congrès de la vigne
• Gaylord National Resort & Centre des congrès de National Harbor
• Gaylord Rocky Mountains Resort & Centre des congrès à Aurora

Ventes de billets d'événement

Les revenus des lieux de divertissement, en particulier les emplacements Grand Ole Opry et Ole Red, ont généré 79,4 millions de dollars en 2022.

Lieu	Revenus annuels (2022)
Grand Ole Opry	45,2 millions de dollars
Lieux rouges	34,2 millions de dollars

Location de sites et frais d'hébergement

Le centre des congrès et la location de l'espace de réunion ont généré environ 213 millions de dollars en 2022, ce qui représente une partie importante du total des sources de revenus de la société.

Frais de service d'hospitalité

Des revenus de services supplémentaires, notamment la nourriture et les boissons, les équipements et les services auxiliaires, ont contribué 142,5 millions de dollars en 2022.

Parrainage et revenu de partenariat

Les revenus de parrainage et de partenariat des segments de divertissement et d'hospitalité ont totalisé 22,3 millions de dollars en 2022.

Revenu total pour 2022: 1,126 milliard de dollars

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.