Ryman Q1 2020 Earnings Report
Key Takeaways
Ryman Hospitality Properties experienced a challenging first quarter due to the COVID-19 pandemic, which led to the temporary suspension of operations at nearly all of its businesses in March. While January and February results outperformed expectations, the pandemic's economic fallout significantly impacted March, including approximately $14 million of related costs. The company focused on strengthening customer relationships through flexible rebooking policies, securing liquidity, and supporting employees.
January and February results outperformed plan before the impact of COVID-19.
Temporarily suspended operations at nearly all businesses in March due to the COVID-19 pandemic.
Secured approximately 167,000 room nights, representing over $75 million in revenue, through rebooking efforts.
Had approximately 742,000 contracted group room nights on the books as of May 1st for the second half of 2020.
Ryman
Ryman
Forward Guidance
Ryman Hospitality Properties withdrew its earnings guidance for Fiscal Year 2020 on March 8, 2020.