Ryman Stakes Claim In Times Square

The company announced March 10 its plans to establish a country music-focused restaurant in Times Square. The undertaking will be in partnership with a New York developer and include a music venue and a bar. Ryman Chairman and CEO Colin Reed said the company is excited to bring country music to the Big Apple.

“There’s no doubt that Nashville and the Grand Ole Opry are the homes of country music, but the genre’s incredible growth and mainstream appeal means that there are now lovers of country music all over the world,” Reed said. “This venue will bring to Times Square and its nearly 40 million annual global visitors a rich country music heritage and an opportunity to experience the unique country music lifestyle.”

While Ryman has invested a significant amount of resources to entertainment, it is primarily a real estate investment trust specializing in hotels. It is still unclear whether Ryman will establish some form of entertainment branch or create a small subsidiary to manage its entertainment, music and content, but the Tennessean indicates the company is working with analysts to understand the situation comprehensively before making a decision.