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Ryman (RHP)
NYSE:RHP
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Ryman (RHP) AI Stock Analysis

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RHP

Ryman

(NYSE:RHP)

Rating:68Neutral
Price Target:
$103.00
â–²(2.20% Upside)
Ryman's overall stock score reflects a mixed financial performance with strong revenue growth but high leverage and declining gross margins. The technical analysis suggests a neutral to slightly bearish trend. Valuation is somewhat high, but the dividend yield is attractive. The earnings call and corporate events provide positive long-term prospects, particularly with strategic acquisitions and board expansion.
Positive Factors
Acquisition
The acquisition of JW Marriott Desert Ridge is expected to be FFO accretive in the first full year of ownership.
Financial Performance
EBITDA projections have been raised due to contributions from acquired properties.
Strategic Positioning
RHP remains uniquely positioned within lodging as group exposure provides best-in-class earnings visibility.
Negative Factors
Market Challenges
Q2 was on the soft-side and while 2025 RevPAR guidance was maintained, same-store EBITDA was lowered for transient headwinds in Nashville driven by supply growth that risks lingering.
Renovations
Ongoing renovations are expected to continue impacting RevPAR negatively.
Spinoff Concerns
Despite plans for spinning off Opry Entertainment Group, there are concerns about investor hesitance due to valuation complexity and the need for more scale.

Ryman (RHP) vs. SPDR S&P 500 ETF (SPY)

Ryman Business Overview & Revenue Model

Company DescriptionRyman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. The Company's core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space. These convention center resorts operate under the Gaylord Hotels brand and are managed by Marriott International. The Company also owns two adjacent ancillary hotels and a small number of attractions managed by Marriott International for a combined total of 10,110 rooms and more than 2.7 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. The Company's Entertainment segment includes a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country lifestyle media network the Company owns in a joint-venture with Gray Television. The Company operates its Entertainment segment as part of a taxable REIT subsidiary. * The Company is the sole owner of Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; and Gaylord National Resort & Convention Center. It is the majority owner and managing member of the joint venture that owns the Gaylord Rockies Resort & Convention Center.
How the Company Makes MoneyRyman generates revenue primarily through the leasing of office spaces and serviced offices. The company has a diversified revenue model that includes long-term leases, short-term rentals, and flexible workspace solutions, catering to a wide range of business needs. Key revenue streams include monthly rental payments from tenants, fees for meeting room bookings, and additional services such as IT support and administrative services. Ryman also benefits from partnerships with local businesses and service providers, which can enhance its offerings and attract more clients. The growing demand for flexible office spaces, especially in urban centers, further contributes to Ryman's earnings, positioning the company favorably within the evolving workspace market.

Ryman Earnings Call Summary

Earnings Call Date:Aug 04, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 03, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted key achievements, including a significant acquisition and strong future group demand, but also addressed challenges in the Nashville market and broader economic uncertainties impacting short-term performance.
Q2-2025 Updates
Positive Updates
Acquisition of JW Marriott Desert Ridge
Ryman Hospitality Properties successfully acquired the JW Marriott Desert Ridge in Phoenix, a top acquisition target, and expects it to be accretive to FY '26 results.
Record Revenue in Entertainment Segment
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 Group Demand for Future Years
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 ADR growth in the mid-single digits.
Positive Performance at Gaylord Rockies and JW Marriott Hill Country
Both properties achieved all-time monthly records for revenue and adjusted EBITDAre in the quarter.
Negative Updates
Challenges in Nashville Market
Transient occupancy trends in Nashville were soft due to a substantial influx of new hotel supply, pressuring room rates.
Lower Adjusted EBITDAre Margin in Hospitality Segment
Same-store adjusted EBITDAre margin declined 280 basis points due to a group mix shift from corporate to association, timing of Easter, and planned wage and benefit increases.
Impacts from Tariffs and Economic Uncertainty
Uncertainty from tariffs, inflation, interest rates, and other economic factors have caused some group and leisure customers to proceed with caution, affecting bookings.
Company Guidance
During the second quarter of 2025, Ryman Hospitality Properties reported record consolidated revenue and the second-highest adjusted EBITDAre in its same-store hospitality segment's history, trailing only the previous year's second quarter. The same-store adjusted EBITDAre was $187 million, a decline of approximately $18 million year-over-year, with a margin decline of 280 basis points. The entertainment segment achieved record revenue of $143 million and adjusted EBITDAre of $34 million. The guidance for full-year 2025 was revised to include the acquisition of JW Marriott Desert Ridge, with expected adjusted EBITDAre from Desert Ridge between $18 million and $22 million. The consolidated adjusted EBITDAre for the year is now anticipated to be in the range of $767 million to $813 million. The company cited transient rate pressures in Nashville due to new hotel supply and maintained a cautious outlook for potential group attrition and cancellations in the second half of the year, despite some improvement in bookings activity.

Ryman Financial Statement Overview

Summary
Ryman shows revenue growth and improved profitability, but faces challenges with declining gross margins and high leverage. The balance sheet is strong in terms of return on equity but burdened by significant debt levels. Cash flow generation is adequate but has shown recent declines in free cash flow growth.
Income Statement
70
Positive
Ryman's income statement shows a positive trajectory with consistent revenue growth, evidenced by a 1.93% increase in TTM revenue. The company has improved its net profit margin to 11.89% in TTM, indicating enhanced profitability. However, the gross profit margin has decreased significantly from 33.03% in 2024 to 15.09% in TTM, which may suggest rising costs or pricing pressures. Despite this, the EBIT and EBITDA margins remain healthy at 14.88% and 21.72%, respectively, reflecting operational efficiency.
Balance Sheet
60
Neutral
The balance sheet reveals a high debt-to-equity ratio of 5.15 in TTM, which is a concern for financial stability. However, the company has managed to improve its equity position over the years. The return on equity is strong at 47.79%, indicating effective use of equity to generate profits. The equity ratio is relatively low, suggesting a reliance on debt financing, which could pose risks in a rising interest rate environment.
Cash Flow
65
Positive
Ryman's cash flow statement shows a decline in free cash flow growth by 28.45% in TTM, which is a negative indicator. However, the operating cash flow to net income ratio is healthy at 0.75, suggesting that the company is generating sufficient cash from operations to cover its net income. The free cash flow to net income ratio of 0.42 indicates that a significant portion of net income is being converted into free cash flow, although this has decreased compared to previous years.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.44B2.34B2.16B1.81B939.37M524.48M
Gross Profit709.82M772.63M666.22M579.75M200.70M-26.67M
EBITDA753.60M755.05M664.91M536.24M161.37M-57.13M
Net Income262.49M271.64M311.22M128.99M-176.97M-417.39M
Balance Sheet
Total Assets6.11B5.22B5.19B4.04B3.58B3.56B
Cash, Cash Equivalents and Short-Term Investments420.58M477.69M591.83M334.19M140.69M56.70M
Total Debt4.12B3.51B3.51B2.99B3.05B2.87B
Total Liabilities4.87B4.28B4.27B3.63B3.60B3.24B
Stockholders Equity800.43M548.98M569.15M95.28M-22.23M205.30M
Cash Flow
Free Cash Flow161.74M168.60M350.28M330.41M89.25M9.82M
Operating Cash Flow384.71M576.51M557.06M419.93M111.25M-161.52M
Investing Cash Flow-1.29B-410.40M-1.01B-189.31M-289.74M-172.65M
Financing Cash Flow583.30M-290.32M711.87M50.71M261.73M-6.47M

Ryman Technical Analysis

Technical Analysis Sentiment
Positive
Last Price100.78
Price Trends
50DMA
98.36
Positive
100DMA
95.87
Positive
200DMA
98.00
Positive
Market Momentum
MACD
0.91
Negative
RSI
60.87
Neutral
STOCH
89.65
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHP, the sentiment is Positive. The current price of 100.78 is above the 20-day moving average (MA) of 96.80, above the 50-day MA of 98.36, and above the 200-day MA of 98.00, indicating a bullish trend. The MACD of 0.91 indicates Negative momentum. The RSI at 60.87 is Neutral, neither overbought nor oversold. The STOCH value of 89.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RHP.

Ryman Risk Analysis

Ryman disclosed 52 risk factors in its most recent earnings report. Ryman reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Ryman Peers Comparison

Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
$3.09B17.225.54%7.75%2.42%-13.51%
72
Outperform
$12.09B18.459.80%5.16%8.28%-11.07%
68
Neutral
$6.36B24.5338.52%4.51%6.13%-20.48%
66
Neutral
$1.82B450.700.96%3.75%0.37%-97.38%
62
Neutral
$2.42B45.721.58%11.67%-3.19%-81.33%
61
Neutral
$1.77B30.964.22%4.90%1.72%-3.49%
53
Neutral
$1.21B3.22-6.08%5.78%-8.30%-81.83%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
RHP
Ryman
100.78
5.68
5.97%
DRH
Diamondrock
8.58
0.67
8.47%
SHO
Sunstone Hotel
9.56
0.08
0.84%
HST
Host Hotels & Resorts
17.43
1.56
9.83%
APLE
Apple Hospitality REIT
13.04
-0.03
-0.23%
PK
Park Hotels & Resorts
12.00
-0.62
-4.91%

Ryman Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Ryman Expands Board, Appoints New Independent Director
Positive
Aug 7, 2025

On August 7, 2025, Ryman Hospitality Properties, Inc. expanded its Board of Directors from nine to ten members, appointing H. Eric Bolton, Jr. as an independent director. Bolton, a seasoned executive with extensive experience in real estate investment trusts, joins the Audit and Risk Committees. His appointment aligns with Ryman’s strategic growth, leveraging his expertise in scaling operations and navigating economic cycles, which is expected to benefit the company’s expanding portfolio.

Private Placements and FinancingM&A Transactions
Ryman Completes Acquisition of JW Marriott Resort
Positive
Jun 10, 2025

On June 10, 2025, Ryman Hospitality Properties, Inc. completed the acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa for approximately $865 million. This acquisition, funded through a public stock offering and private placement of senior notes, enhances Ryman’s portfolio with a premier resort featuring extensive amenities and meeting spaces. The integration of this property is expected to create significant value opportunities, reinforcing Ryman’s position in the upscale hospitality market.

Private Placements and FinancingM&A TransactionsBusiness Operations and Strategy
Ryman Issues $625M Notes for Resort Acquisition
Positive
Jun 4, 2025

On June 4, 2025, Ryman Hospitality Properties, Inc. and its subsidiaries issued $625 million in senior notes to fund the acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa. The notes, due in 2033, are part of a larger financial strategy that includes a public stock offering to cover the $865 million purchase price. The issuance of these notes is a significant move for Ryman, as it strengthens its portfolio in the upscale hospitality sector, potentially enhancing its market position and offering new opportunities for stakeholders.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 23, 2025