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Jun 30, 2022
Ryman Q2 2022 Earnings Report
Ryman's hotel business set multiple all-time records this quarter, driven by strategic actions and capital investments. Entertainment segment's revenue, operating income and Adjusted EBITDAre exceeded second quarter 2019 results.
Key Takeaways
Ryman Hospitality Properties reported record-breaking results in its hotel business for the second quarter of 2022, driven by strategic actions and capital investments. The Entertainment segment also delivered solid results, exceeding second quarter 2019 performance despite challenges in the tour and travel segment and advertising market.
Hotel business set multiple all-time records.
Hospitality occupancy levels are approximately 5 points below pre-COVID levels.
Improvement seen in group travel with encouraging pace of hotel bookings and lead volumes.
Entertainment segment revenue, operating income and Adjusted EBITDAre exceeded second quarter 2019 results.
Ryman
Ryman
Ryman Revenue by Segment
Revenue by Segment
Hospitality Revenue
CapyFin.comEntertainment Revenue
CapyFin.com Forward Guidance
The company is raising full year 2022 guidance to a consolidated Adjusted EBITDAre midpoint of $526 million, a $19 million increase over previous guidance.
Positive Outlook
- Investments and actions taken competitively positioned the business.
- Capitalize on the continued recovery of the group segment.
- Entered 2022 with cautious optimism.
- Sequential month-over-month improvement in business expected.
- Strength of forward bookings for the remainder of the year.
Challenges Ahead
- No update expected before next quarter’s earnings release.
- Guidance does not include any impact of the Atairos transaction.
- Pro rata EBITDAre and Adjusted EBITDAre from unconsolidated joint ventures is only from the Circle joint venture.
- Potential risks and uncertainties associated with the COVID-19 pandemic.
- Economic conditions affecting the hospitality business generally.
Revenue & Expenses
Visualization of income flow from segment revenue to net income