Ryman Hospitality Properties Inc. (RHP) (less than 0.1%) (RHP - $48.15 - NYSE) is a Nashville, Tennessee based REIT that owns convention hotels in Nashville, Tennessee; Orlando, Florida; Dallas, Texas; and Washington, D.C. Other assets include the iconic Opryland, the famous Ryman Auditorium, the General Jackson Showboat, Gaylord Springs Golf Links, and Nashville based radio station WSM-AM. RHP recommended changes to property manager Marriott, which included deploying additional sales staff at the property and regional sales office levels and educating and incentivising Marriott’s sales team to highlight the uniqueness and complexity of the Gaylord properties. These changes are showing early traction in the form of strong bookings. The company also continues to see robust transient room night production, benefiting from Marriott’s strong distribution system. Finally, as the leading country music entertainment brand, a potential spin-off of the Opry segment, including the Grand Ole Opry, also remains a significant catalyst for RHP shares.
From Mario Gabelli (Trades, Portfolio)’s The Gabelli Asset Fund Second Quarter 2014 Shareholder Commentary.
