Ryman Hospitality Properties Q4 Earnings Call Highlights

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MarketBeat

Wed, February 25, 2026 astatine 5:06 AM CST 8 min read

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Ryman said fourth-quarter results exceeded interior expectations, driven by beardown vacation programming and amusement (ICE! summons income +14% to 1.5M) and robust radical request that produced grounds room-night gross and ADR bookings for each aboriginal years.
Management's 2026 midpoint guidance implies astir 2.5% same-store RevPAR growth—assuming humble radical gains and level leisure—but executives emphasized macro and geopolitical uncertainty and expect Q1 RevPAR astir level with adjusted EBITDAre borderline down astir 100 ground points.
The institution reported beardown liquidity with astir $1.3–$1.4 billion disposable and a pro forma nett leverage of 4.3x, plans $350–$450M of 2026 capex, and declared a $1.20 per-share Q1 dividend.
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Ryman Hospitality Properties (NYSE:RHP) executives said fourth-quarter results exceeded interior expectations, citing beardown vacation programming crossed the company’s edifice portfolio and better-than-expected measurement astatine its downtown Nashville amusement venues.

Executive Chairman Colin Reed said full-year results came successful supra the midpoint of guidance ranges for the amusement conception and supra the precocious extremity of guidance for adjusted funds from operations (AFFO) and AFFO per share. Reed added that, excluding the interaction of the company’s JW Marriott Desert Ridge acquisition, results were “almost close connected the midpoints” of the archetypal guidance provided a twelvemonth earlier.

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President and CEO Mark Fioravanti said the same-store hospitality conception delivered its highest full gross of immoderate 4th and the highest adjusted EBITDAre of immoderate 4th quarter. He attributed the show to vacation programming request and higher leisure volumes crossed the portfolio.

Fioravanti said ICE! summons income roseate much than 14% to a grounds 1.5 cardinal tickets. He highlighted Gaylord National arsenic having its champion ICE! play since 2010, portion Gaylord Opryland and Gaylord Rockies recorded their champion seasons ever. ICE! astatine the JW Hill Country, successful its 2nd year, achieved the highest impermanent restitution ratings for vacation attractions crossed the portfolio, according to management.

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On the radical side, Fioravanti said same-store attrition trends improved year-over-year and sequentially from the 3rd quarter. Same-store banquet nett ancillary worth (NAV) revenues accrued astir 5% contempt little firm radical volumes, and banquet NAV publication per radical country nighttime (a proxy for catering walk per radical guest) roseate much than 10% year-over-year.

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