Strategic Acquisition of JW Marriott Desert Ridge
The acquisition of JW Marriott Desert Ridge in Phoenix, Arizona was completed, marking a significant strategic milestone. This acquisition is expected to drive value through inclusion in the portfolio and incremental capital investment, with expectations to be accretive to FY '26 results.
Record Entertainment Segment Revenue
The Entertainment segment delivered record revenue of $143 million and adjusted EBITDAre of $34 million, driven by recent investments in Category 10, Block 21, and Southern Entertainment.
Strong Bookings and Revenue Growth
Group rooms revenue on the books for 2026 and 2027 is up 9% and 10% compared to the same time last year for 2025 and 2026, with mid-single-digit ADR growth.
Positive Operational Performance
The second quarter delivered record consolidated revenue and the second-highest adjusted EBITDAre in the same-store hospitality segment's history.
Ongoing Capital Projects and Renovations
Completion of presidential meeting space renovations at Gaylord Opryland and other projects, along with ongoing investments at Gaylord Texan and Gaylord National.