Ryman Q1 2021 Earnings Report
Key Takeaways
Ryman Hospitality Properties reported encouraging first-quarter results, driven by improving travel industry conditions and progress in the United States vaccine rollout. The company also announced an agreement to acquire the remaining 35% ownership interest in the Gaylord Rockies JV.
Company reached an agreement to acquire the remaining 35% ownership interest in the Gaylord Rockies JV along with approximately 130 acres of undeveloped, adjacent land for $210 million.
Resort pool enhancements at Gaylord Palms opened in time for the Spring Break period and received positive feedback from guests.
Rooms and meeting space expansion was completed in April at Gaylord Palms.
Refurbished room inventory at Gaylord National is anticipated to be completed prior to its July 1, 2021 reopening.
Ryman
Ryman
Ryman Revenue by Segment
Forward Guidance
Company sees positive news coming on the COVID-19 front, enabling leisure and business travel to resume.
Positive Outlook
- United States vaccine rollout continues to progress.
- Consumer confidence is growing.
- Increasing demand for unique offerings.
- Conversations with meeting planners continue to be encouraging.
- Seeing fewer cancellations and continued rebooking activity.
Challenges Ahead
- Risks and uncertainties associated with the COVID-19 pandemic.
- Effects of the COVID-19 pandemic on the demand for travel, transient and group business (including government-imposed restrictions).
- Levels of consumer confidence in the safety of travel and group gathering as a result of COVID-19.
- Duration and severity of the COVID-19 pandemic in the United States and the pace of recovery following the COVID-19 pandemic.
- Governmental restrictions on our businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income