Overview

* Ryman Hospitality Q2 revenue hits record $659.5 mln, beating analyst expectations

* Net income for Q2 declines 27.6% yr/yr despite record revenue

* Co completes acquisition of JW Marriott Desert Ridge, funded by share offering

Outlook

* Ryman revises 2025 outlook to include JW Marriott Desert Ridge acquisition

* Company updates guidance due to transient rate risk in Nashville hotels

* Ryman expects 2025 Adjusted EBITDAre of $767 mln to $813 mln

* Company sees 2025 net income between $225.8 mln and $236.8 mln

Result Drivers

* RECORD REVENUE - All-time quarterly record consolidated revenue of $659.5 mln driven by Hospitality and Entertainment segments

* ACQUISITION IMPACT - Acquisition of JW Marriott Desert Ridge adds a turnkey asset and creates incremental group customer rotation opportunities

* GROUP MIX SHIFT - Decline in banquet and AV revenue attributed to shift from corporate to association group room nights

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $659.52 $618.70

Revenue mln mln (10

Analysts

)

Q2 Net $75.88

Income mln

Q2 $148.84

Adjusted mln

FFO

Q2 FFO $137.14

mln

Q2 $139.42

Operatin mln

g income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for Ryman Hospitality Properties Inc ( RHP ) is $118.50, about 21.6% above its August 1 closing price of $92.91

* The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)