Ryman Hospitality Properties: 3Q Earnings Snapshot

Ryman Auditorium
Neil Blake / Getty Images – Ryman Auditorium

Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $63.5 million, or $1.23 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.14 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $22.6 million, or 44 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $292.2 million in the period, also topping Street forecasts. 
Five analysts surveyed by Zacks expected $277.9 million.
The company’s shares have risen 10 percent since the beginning of the year. The stock has climbed 16 percent in the last 12 months.
About Ryman Hospitality Properties, Inc. 
Ryman Hospitality Properties, Inc. (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 8,114 rooms that are managed by lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington, DC at National Harbor, a 192-room hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; 650 AM WSM, the Opry’s radio home; and Ole Red, a country lifestyle and entertainment brand. For additional information about Ryman Hospitality Properties, visit www.rymanhp.com. 
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