Ryman Hospitality Properties, Inc. Announces Upsizing and Pricing of Common Stock Offering

Core Viewpoint - Ryman Hospitality Properties, Inc. has announced an upsized public offering of common stock to fund a portion of the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa, with the offering size increased from 2.3 million shares to 2.6 million shares at a price of $96.20 per share [1][2]. Group 1: Offering Details - The offering will consist of 2,600,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 390,000 more shares [1]. - The expected closing date for the offering is around May 21, 2025, subject to customary closing conditions [1]. - The offering is being conducted under the Company's shelf registration statement on Form S-3, which became effective on June 5, 2023 [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be contributed to RHP Hotel Properties, LP, and will primarily fund a portion of the approximately$865 million purchase price for the Desert Ridge Acquisition [2]. - Any remaining funds from the offering will be allocated for general corporate purposes if the Desert Ridge Acquisition does not close [2]. Group 3: Underwriters - Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as active joint book-running managers for the offering [3]. - Other bookrunners include Deutsche Bank Securities, BTIG, Credit Agricole CIB, Scotiabank, SMBC Nikko, and Raymond James [3]. Group 4: Company Overview - Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust specializing in upscale convention center resorts and entertainment experiences [6]. - The Company owns several major properties, including Gaylord Opryland Resort & Convention Center and JW Marriott San Antonio Hill Country Resort & Spa, totaling 11,414 rooms and over 3 million square feet of meeting space [6][7].