Q4 2024 Ryman Hospitality Properties Inc Earnings Call Transcript

Feb 21, 2025 / 04:00PM GMT

Transcript 10-K8-K

Key Points

Positve

Ryman Hospitality Properties Inc (RHP) reported a consolidated revenue growth of 8% and adjusted EBITDAre growth of 10% for the full year 2024.
The company achieved record bookings production in the fourth quarter, with 1.3 million same-store group room nights booked for all future years.
RHP's Entertainment segment reported record revenue of $98 million in the fourth quarter, an increase of approximately 12% year-over-year.
The Gaylord Rockies and Gaylord National properties achieved significant milestones, with the Rockies delivering record revenue in December.
RHP's strategic investment in Southern Entertainment is expected to enhance its platform for live music experiences and connect with more country music fans.

Negative

Fourth quarter results were marginally below guidance due to factors impacting the same-store hospitality portfolio in December.
Leisure demand at Gaylord Texan and Gaylord Opryland did not meet expectations during the peak holiday period, affecting overall performance.
The company anticipates construction disruption to impact RevPAR and adjusted EBITDAre in 2025, with a $30 million to $35 million impact expected.
RHP experienced a decrease in overnight stays during the holiday period, attributed to consumer price sensitivity and macroeconomic uncertainty.
The company faces challenges in managing labor and wage costs, with a 3% to 4% increase expected in 2025.

Operator

Welcome to the Ryman Hospitality Properties fourth quarter 2024 earnings conference call. Hosting the call today from Ryman Hospitality Properties are Mr. Colin Reed, Executive Chairman; Mr. Mark Fioravanti, President and Chief Executive Officer; Ms. Jennifer Hutcheson, Chief Financial Officer; Mr. Patrick Chaffin, Chief Operating Officer; and Mr. Patrick Moore, Chief Executive Officer, Opry Entertainment Group.

This call will be available for digital replay. The number will be 800-723-1517 with no conference ID required. At this time, all participants have been placed on a listen-only mode. It is now my pleasure to turn the floor over to Ms. Jennifer Hutcheson. Ma'am, you may begin.

Jennifer Hutcheson

Ryman Hospitality Properties Inc - Chief Financial Officer & Executive Vice President

Good morning. Thank you for joining us today. This call may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the company's expected financial performance.

Any statements we

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