Ryman Q1 2025 Earnings Report
Key Takeaways
Ryman Hospitality Properties reported record first quarter revenue, net income, and Adjusted EBITDAre, exceeding expectations. The Hospitality segment showed strong performance with increased RevPAR and Total RevPAR, although the full-year outlook for these metrics was lowered due to macroeconomic uncertainty impacting near-term group bookings. The Entertainment segment also achieved record first quarter results.
Consolidated revenue reached a first quarter record of $587.3 million.
Consolidated net income hit a first quarter record of $63.0 million.
Consolidated Adjusted EBITDAre set a first quarter record of $185.5 million.
The Company is affirming its full year outlook for consolidated net income, Adjusted EBITDAre, and Adjusted Funds from Operations (AFFO) per diluted share/unit.
Ryman
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Ryman Revenue by Segment
Forward Guidance
The Company is affirming its full year 2025 outlook for consolidated net income, Adjusted EBITDAre, and AFFO, while lowering its outlook for Hospitality RevPAR and Total RevPAR growth due to macroeconomic uncertainty impacting near-term group demand.
Positive Outlook
- Affirming full year outlook for consolidated net income.
- Affirming full year outlook for Adjusted EBITDAre.
- Affirming full year outlook for Adjusted FFO per diluted share/unit.
- Strong first quarter performance across both segments.
- Resilient group business model and proactive cost management.
Challenges Ahead
- Lowering full year outlook for Hospitality RevPAR growth.
- Lowering full year outlook for Total RevPAR growth.
- Macroeconomic uncertainty weighing on near-term meeting planner decision-making.
- Impact on lead volumes and group bookings for the in-the-year-for-the-year period.
- Expected full year impact of construction disruption to Hospitality segment RevPAR and Total RevPAR.