0001104659-23-055565.txt : 20230503 0001104659-23-055565.hdr.sgml : 20230503 20230503170853 ACCESSION NUMBER: 0001104659-23-055565 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20230503 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230503 DATE AS OF CHANGE: 20230503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ryman Hospitality Properties, Inc. CENTRAL INDEX KEY: 0001040829 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 730664379 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13079 FILM NUMBER: 23885276 BUSINESS ADDRESS: STREET 1: ONE GAYLORD DR CITY: NASHVILLE STATE: TN ZIP: 37214 BUSINESS PHONE: 6153166000 MAIL ADDRESS: STREET 1: ONE GAYLORD DRIVE CITY: NASHVILLE STATE: TN ZIP: 37214 FORMER COMPANY: FORMER CONFORMED NAME: GAYLORD ENTERTAINMENT CO /DE DATE OF NAME CHANGE: 19971002 FORMER COMPANY: FORMER CONFORMED NAME: NEW GAYLORD ENTERTAINMENT CO DATE OF NAME CHANGE: 19970611 8-K 1 tm2314504d1_8k.htm FORM 8-K
0001040829 false 0001040829 2023-05-03 2023-05-03 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 3, 2023

 

 

 

RYMAN HOSPITALITY PROPERTIES, INC.

(Exact name of registrant as specified in its charter)

 

 

  

Delaware   1-13079   73-0664379

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

 

 

One Gaylord Drive
Nashville, Tennessee

 37214  
  (Address of principal executive offices) (Zip Code)  

 

Registrant’s telephone number, including area code: (615) 316-6000

 

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

  Securities registered pursuant to Section 12(b) of the Act:

  

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on
Which Registered
Common Stock, par value $.01   RHP   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

 

 

 

ITEM 2.02.RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

 

On May 3, 2023, Ryman Hospitality Properties, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2023 and providing updated guidance for certain financial measures for the remainder of 2023. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference. The Company will hold a conference call to discuss its financial results for the quarter ended March 31, 2023 at 11:00 a.m. Eastern Time on Thursday, May 4, 2023.

 

ITEM 9.01.FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits
 
99.1 Press Release of Ryman Hospitality Properties, Inc. dated May 3, 2023.
 
104  Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  RYMAN HOSPITALITY PROPERTIES, INC.
     
Date: May 3, 2023 By: /s/ Scott J. Lynn
  Name: Scott J. Lynn
  Title: Executive Vice President, General Counsel and Secretary

 

 

 

 EX-99.1 2 tm2314504d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

     

 

Ryman Hospitality Properties, Inc. Reports First Quarter 2023 Results

 

NASHVILLE, Tenn. (May 3, 2023) – Ryman Hospitality Properties, Inc. (NYSE: RHP), a leading lodging and hospitality real estate investment trust (“REIT”) that specializes in upscale convention center resorts and leading entertainment experiences, today reported financial results for the three months ended March 31, 2023.

 

First Quarter 2023 Highlights and Recent Developments:

 

•The Company generated net income available to common stockholders of $61.3 million or $1.02 per diluted share, marking four consecutive quarters of profitability.

 

•The Hospitality segment achieved record first quarter revenue of $424.4 million, driven by strength in room rates and outside the room spend, with particular strength in catering revenue.

 

•The Hospitality segment achieved a record first quarter average daily rate (ADR) of $238, an increase of 3.8% from Q1 2022 and an increase of 18.3% from Q1 2019.

 

•During the quarter, the Company booked over 348,000 gross advanced group room nights for all future years, at an ADR of $251, an increase of 9.1% over Q1 2022 ADR for future bookings and 22.9% above Q1 2019 ADR for future bookings.

 

•Opry Entertainment Group (OEG) achieved record first quarter revenue, operating income, and Adjusted EBITDAre, led by a strong slate of live events, attendance across our portfolio, and the contribution of Block 21.

 

•The Company declared a cash dividend of $1.00 per share for the second quarter of 2023, increased from $0.75 per share for the first quarter of 2023.

 

•The Company increases its consolidated Full Year 2023 outlook to reflect strong Q1 2023 financial results and sustained confidence in the remainder of 2023.

 

Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “Both sides of our business are off to a great start in 2023. We set multiple records in our Hospitality and Entertainment segments as the trends we saw during the last three quarters of 2022 continued in this first quarter. Our core group customers continued to travel at more typical pre-pandemic levels and our resorts remained popular leisure destinations, which contributed to strong rate growth and robust outside the room spending across our portfolio. In addition to this strong performance, we added to our healthy forward book of business in the first quarter, which sets us up well for the future. The demand for our live entertainment businesses in the first quarter exceeded our internal expectations and led to OEG’s record first quarter revenue, operating income and Adjusted EBITDAre. Combined with our strong Hospitality results, this healthy Entertainment performance has given us confidence to raise our full year 2023 guidance.”

 

 

 

 

First Quarter 2023 Results (as compared to First Quarter 2022):

 

($ in thousands, except per share amounts)

 

   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Total Revenue  $491,719   $299,135    64.4%
                
Operating income  $105,650   $7,874    1241.8%
Operating income margin   21.5%   2.6%   18.9pt
                
Net income (loss)  $60,994   $(24,797)   346.0%
Net income (loss) margin   12.4%   -8.3%   20.7pt
                
Net income (loss) available to common stockholders  $61,320   $(24,621)   349.1%
Net income (loss) available to common stockholders margin   12.5%   -8.2%   20.7pt
Net income (loss) available to common stockholders per diluted share  $1.02   $(0.45)   326.7%
                
Adjusted EBITDAre  $157,675   $68,994    128.5%
Adjusted EBITDAre margin   32.1%   23.1%   9.0pt
Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture  $153,379   $68,994    122.3%
Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture margin   31.2%   23.1%   8.1pt
                
Funds From Operations (FFO) available to common stockholders and unit holders  $108,526   $31,222    247.6%
FFO available to common stockholders and unit holders per diluted share/unit  $1.80   $0.56    221.4%
                
Adjusted FFO available to common stockholders and unit holders  $113,593   $34,814    226.3%
Adjusted FFO available to common stockholders and unit holders per diluted share/unit  $1.89   $0.63    200.0%

 

Note: For the Company’s definitions of Adjusted EBITDAre, Adjusted EBITDAre margin, Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture, Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture margin, FFO available to common stockholders and unit holders, and Adjusted FFO available to common stockholders and unit holders, as well as a reconciliation of the non-GAAP financial measure Adjusted EBITDAre to Net Income/(Loss) and a reconciliation of the non-GAAP financial measure Adjusted FFO available to common stockholders and unit holders to Net Income/(Loss), see “Non-GAAP Financial Measures,” “EBITDAre, Adjusted EBITDAre and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Definition,” “Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin Definition” “FFO, Adjusted FFO, and Adjusted FFO available to common stockholders and unit holders Definition” and “Supplemental Financial Results” below.

 

2

 

 

Hospitality Segment

 

($ in thousands, except ADR, RevPAR, and Total RevPAR)           

 

   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Hospitality Revenue  $424,439   $261,111    62.6%
                
Hospitality operating income  $106,070   $15,668    577.0%
Hospitality operating income margin   25.0%   6.0%   19.0pt
Hospitality Adjusted EBITDAre  $151,235   $70,332    115.0%
Hospitality Adjusted EBITDAre margin   35.6%   26.9%   8.7pt
                
Hospitality Performance Metrics               
Occupancy   72.3%   47.3%   25.0pt
Average Daily Rate (ADR)  $237.95   $229.17    3.8%
RevPAR  $172.08   $108.41    58.7%
Total RevPAR  $452.94   $278.64    62.6%
                
Gross Definite Rooms Nights Booked   348,648    422,045    -17.4%
Net Definite Rooms Nights Booked   250,318    165,668    51.1%
Group Attrition (as % of contracted block)   15.5%   32.1%   -16.6pt
Cancellations ITYFTY (1)   32,220    170,419    -81.1%
                

 

(1)  "ITYFTY" represents In The Year For The Year.          

 

Note: For the Company’s definitions of Revenue Per Available Room (RevPAR) and Total Revenue Per Available Room (Total RevPAR), see “Calculation of RevPAR, Total RevPAR, and Occupancy” below. Property-level results and operating metrics for first quarter 2023 are presented in greater detail below and under “Supplemental Financial Results—Hospitality Segment Adjusted EBITDAre Reconciliations and Operating Metrics,” which includes a reconciliation of the non-GAAP financial measures Hospitality Adjusted EBITDAre to Hospitality Operating Income, and property-level Adjusted EBITDAre to property-level Operating Income for each of the hotel properties. 

 

Hospitality Segment Highlights

 

•Record first quarter revenue, operating income and Adjusted EBITDAre of $424.4 million, $106.1 million, and $151.2 million, respectively, were driven by strength in travel demand and exceptional results in food and beverage revenue.

 

•Hotel occupancy was 72.3% in Q1 2023, compared to 47.3% in Q1 2022 and 72.3% in Q1 2019.

 

•March 2023 set a record for highest monthly operating income and Adjusted EBITDAre for the Hospitality segment at $51.6 million and $66.6 million, respectively, surpassing December 2022.

 

•The Company recorded $9.7 million in cancellation and attrition fees in Q1 2023, as collections continue to decline.

 

•Room night production remained strong as new definite ADR for future bookings was a first quarter record.

 

3

 

 

Gaylord Opryland

 

($ in thousands, except ADR, RevPAR, and Total RevPAR)           
     
   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $111,806   $73,519    52.1%
Operating income  $31,695   $15,555    103.8%
Operating income margin   28.3%   21.2%   7.1pt
Adjusted EBITDAre  $40,237   $24,131    66.7%
Adjusted EBITDAre margin   36.0%   32.8%   3.2pt
                
Occupancy   72.6%   48.8%   23.8pt
Average daily rate (ADR)  $240.19   $239.77    0.2%
RevPAR  $174.40   $116.98    49.1%
Total RevPAR  $430.16   $282.85    52.1%

 

Gaylord Palms

  

($ in thousands, except ADR, RevPAR, and Total RevPAR)     
     
   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $84,546   $59,848    41.3%
Operating income  $27,634   $15,858    74.3%
Operating income margin   32.7%   26.5%   6.2pt
Adjusted EBITDAre  $34,275   $22,476    52.5%
Adjusted EBITDAre margin   40.5%   37.6%   2.9pt
                
Occupancy   79.5%   55.6%   23.9pt
Average daily rate (ADR)  $257.66   $256.19    0.6%
RevPAR  $204.78   $142.36    43.8%
Total RevPAR  $546.80   $387.07    41.3%

 

4

 

 

Gaylord Texan

 

($ in thousands, except ADR, RevPAR, and Total RevPAR)    
             
   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $86,398   $56,636    52.5%
Operating income  $28,088   $12,916    117.5%
Operating income margin   32.5%   22.8%   9.7pt
Adjusted EBITDAre  $33,854   $19,614    72.6%
Adjusted EBITDAre margin   39.2%   34.6%   4.6pt
                
Occupancy   77.1%   57.8%   19.3pt
Average daily rate (ADR)  $230.83   $221.38    4.3%
RevPAR  $177.90   $128.06    38.9%
Total RevPAR  $529.21   $346.91    52.5%

 

Gaylord National

 

($ in thousands, except ADR, RevPAR, and Total RevPAR)    
             
   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $72,772   $32,587    123.3%
Operating income (loss)  $8,055   -$11,275    171.4%
Operating income (loss) margin   11.1%   -34.6%   45.7pt
Adjusted EBITDAre  $17,620   -$1,796    1081.1%
Adjusted EBITDAre margin   24.2%   -5.5%   29.7pt
                
Occupancy   67.3%   35.4%   31.9pt
Average daily rate (ADR)  $239.70   $219.63    9.1%
RevPAR  $161.43   $77.73    107.7%
Total RevPAR  $405.10   $181.40    123.3%

 

5

 

 

Gaylord Rockies

 

($ in thousands, except ADR, RevPAR, and Total RevPAR)    
             
   Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $64,047   $34,787    84.1%
Operating income (loss)  $10,868   -$16,784    164.8%
Operating income (loss) margin   17.0%   -48.2%   65.2pt
Adjusted EBITDAre  $24,913   $5,864    324.8%
Adjusted EBITDAre margin   38.9%   16.9%   22.0pt
                
Occupancy   69.9%   39.2%   30.7pt
Average daily rate (ADR)  $233.09   $213.46    9.2%
RevPAR  $162.97   $83.61    94.9%
Total RevPAR  $474.10   $257.51    84.1%

 

Entertainment Segment

 

For the three months ended March 31, 2023, and 2022, the Company reported the following:

 

($ in thousands)  Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Revenue  $67,280   $38,024    76.9%
Operating income  $10,391   $2,437    326.4%
Operating income margin   15.4%   6.4%   9.0pt
Adjusted EBITDAre  $14,346   $4,810    198.3%
Adjusted EBITDAre margin   21.3%   12.6%   8.7pt

 

Fioravanti continued, “Our core Nashville entertainment assets continue to see demand above pre-pandemic levels, which contributed to record first quarter revenue, operating income and Adjusted EBITDAre for the segment. We remain bullish on Nashville’s long-term prospects as a major international tourism destination and are excited to continue our investment in the downtown entertainment district by teaming up with global country music superstar and Opry member Luke Combs to rebrand and expand our Wildhorse Saloon venue into a multi-experiential destination. We look forward to sharing additional project details in the months ahead.”

 

6

 

 

Corporate and Other Segment

 

For the three months ended March 31, 2023, and 2022, the Company reported the following:

 

($ in thousands)  Three Months Ended 
   March 31, 
   2023   2022   % ∆ 
Operating loss  $(10,811)  $(10,231)   -5.7%
Adjusted EBITDAre  $(7,906)  $(6,148)   -28.6%

 

The increase in Corporate and Other Segment Operating loss and decrease in Adjusted EBITDAre for the 2023 period resulted from an increase in administrative and employment costs associated with the hiring of additional employees and increased wages to support the Company’s growth.

 

2023 Guidance

 

The Company is updating its 2023 business performance outlook based on current information as of May 3, 2023. The Company does not expect to update the guidance provided below before next quarter’s earnings release. However, the Company may update its full business outlook or any portion thereof at any time for any reason.

 

($ in millions, except per share figures)  New Guidance   New FY   Prior Guidance   Prior FY   Change 
   Full Year 2023   2023 Guidance   Full Year 2023   2023 Guidance     
   Low   High   Midpoint   Low   High   Midpoint   Midpoint 
Consolidated Hospitality RevPAR growth   11.0%   13.5%   12.3%   9.0%   12.0%   10.5%   1.8%
Consolidated Hospitality Total RevPAR growth   8.5%   10.5%   9.5%   6.5%   9.5%   8.0%   1.5%
                                    
Operating Income                                   
Hospitality  $391.5   $411.5   $401.5   $371.5   $391.5   $381.5   $20.0 
Entertainment   76.0    80.5    78.3    69.0    73.5    71.3    7.0 
Corporate and Other   (44.0)   (43.0)   (43.5)   (44.0)   (43.0)   (43.5)   - 
Consolidated Operating Income   423.5    449.0    436.3    396.5    422.0    409.3    27.0 
                                    
Adjusted EBITDAre                                   
Hospitality  $570.0   $600.0   $585.0   $550.0   $580.0   $565.0   $20.0 
Entertainment   94.0    104.0    99.0    87.0    97.0    92.0    7.0 
Corporate and Other   (32.0)   (29.0)   (30.5)   (32.0)   (29.0)   (30.5)   - 
Consolidated Adjusted EBITDAre   632.0    675.0    653.5    605.0    648.0    626.5    27.0 
                                    
Net Income  $223.5   $243.5   $233.5   $199.8   $216.0   $207.9   $25.6 
Net Income available to common shareholders  $222.5   $232.5   $227.5   $200.0   $212.5   $206.3   $21.2 
                                    
Funds from Operations (FFO) available to common shareholders  $403.8   $426.0   $414.9   $381.3   $406.0   $393.6   $21.3 
Adjusted FFO available to common shareholders  $425.0   $454.0   $439.5   $392.5   $424.0   $408.3   $31.2 
                                    
Net Income available to common shareholders per diluted share  $3.71   $3.88   $3.79   $3.35   $3.56   $3.45   $0.34 
                                    
Estimated Diluted Shares Outstanding   60.0    60.0    60.0    59.7    59.7    59.7    0.3 

 

Note: For reconciliations of Consolidated Adjusted EBITDAre guidance to Net Income, segment-level Adjusted EBITDAre to segment-level Operating Income, FFO available to common shareholders and Adjusted FFO available to common shareholders guidance to Net Income available to common shareholders, see “Reconciliation of Forward-Looking Statements” below.

 

7

 

 

Dividend Update

 

On February 23, 2023, the Company announced that it declared a quarterly cash dividend of $0.75 per common share, which was paid on April 17, 2023, to stockholders of record as of March 31, 2023.

 

Today, the Company declared its second quarter 2023 cash dividend of $1.00 per share of common stock, payable on July 17, 2023, to stockholders of record as of June 30, 2023. The Company’s dividend policy provides that we will make minimum dividends of 100% of REIT taxable income annually. It is the Company’s current plan to distribute aggregate minimum dividends for 2023 of $3.75 per share in cash. Future dividends are subject to the Board’s future determinations as to amount and timing.

 

Fioravanti concluded, “The strength of our first quarter performance and our healthy forward book of business supports the Board’s decision to raise the Company’s dividend again this quarter to $1.00 per share, which now exceeds the quarterly dividend rate that the Company had achieved prior to the onset of the COVID-19 pandemic. We are pleased with the strong recovery we have experienced on both sides of our business and look forward to continued growth and value creation for our stakeholders in the future.”

 

Balance Sheet/Liquidity Update

 

As of March 31, 2023, the Company had total debt outstanding of $2,866.9 million, net of unamortized deferred financing costs, and unrestricted cash of $318.5 million. As of March 31, 2023, there were no amounts drawn under the Company’s revolving credit facility, $7.0 million was drawn under OEG’s revolving credit facility, and the lending banks had issued $14.6 million in letters of credit under the Company’s credit facility, which left $743.4 million of aggregate borrowing availability under the Company’s revolving credit facility and OEG’s revolving credit facility.

 

On May 27, 2021, the Company entered into an at-the-market (ATM) equity distribution agreement that allows the Company to issue and sell up to 4 million shares of stock through sales agents. No shares were issued under the ATM agreement during the three months ended March 31, 2023.

 

Earnings Call Information

 

Ryman Hospitality Properties will hold a conference call to discuss this release tomorrow, May 4, 2023, at 11:00 a.m. ET. Investors can listen to the conference call over the Internet at www.rymanhp.com. To listen to the live call, please go to the Investor Relations section of the website (Investor Relations/Presentations, Earnings and Webcasts) at least 15 minutes prior to the call to register and download any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call and will be available for at least 30 days.

 

8

 

 

About Ryman Hospitality Properties, Inc.

 

Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and leading entertainment experiences. RHP’s core holdings, Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, are five of the top ten largest non-gaming convention center hotels in the United States based on total indoor meeting space. Our Hospitality segment is comprised of these convention center resorts operating under the Gaylord Hotels brand, along with two adjacent ancillary hotels, which are managed by Marriott International and represent a combined total of 10,412 rooms and more than 2.8 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns a 70% controlling ownership interest in Opry Entertainment Group (OEG), which is composed of entities owning 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 RHP owns in a joint venture with Gray Television, Nashville-area attractions, and Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at Moody Theater, located in downtown Austin, Texas. RHP operates OEG as its Entertainment segment in a taxable REIT subsidiary, and its results are consolidated in the Company’s financial results. Visit RymanHP.com for more information.

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of the Company’s business, anticipated business levels and anticipated financial results for the Company during future periods, the Company’s expected cash dividend, and other business or operational issues. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the effects of COVID-19 on us and the hospitality and entertainment industries generally, the geographic concentration of the Company’s hotel properties, business levels at the Company’s hotels, the effects of inflation on the Company’s business and on its customers, including group business at its hotels, the Company’s ability to remain qualified as a REIT for federal income tax purposes, the Company’s ability to execute its strategic goals as a REIT, the Company’s ability to generate cash flows to support dividends, our Board of Directors’ ability to modify our dividend policy, including the frequency and amount of any dividend we may pay, and the Company’s ability to borrow funds pursuant to its credit agreements. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and its Quarterly Reports on Form 10-Q and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

 

9

 

 

 

Additional Information

 

This release should be read in conjunction with the consolidated financial statements and notes thereto included in our most recent annual report on Form 10-K. Copies of our reports are available on our website at no expense at www.rymanhp.com and through the SEC’s Electronic Data Gathering Analysis and Retrieval System (“EDGAR”) at www.sec.gov.

 

Calculation of RevPAR and Total RevPAR

 

We calculate revenue per available room (“RevPAR”) for our hotels by dividing room revenue by room nights available to guests for the period. We calculate total revenue per available room (“Total RevPAR”) for our hotels by dividing the sum of room revenue, food & beverage, and other ancillary services revenue by room nights available to guests for the period. Hospitality metrics do not include the results of the W Austin, which is included in the Entertainment segment.

 

Calculation of GAAP Margin Figures

 

We calculate Net Income (Loss) available to common stockholders’ margin by dividing GAAP consolidated Net Income (Loss) available to common stockholders by GAAP consolidated Total Revenue. We calculate consolidated, segment or property-level Operating Income Margin by dividing consolidated, segment or property-level GAAP Operating Income (Loss) by consolidated, segment or property-level GAAP Revenue.

 

Non-GAAP Financial Measures

 

We present the following non-GAAP financial measures we believe are useful to investors as key measures of our operating performance:

 

EBITDAre, Adjusted EBITDAre and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Definition

 

We calculate EBITDAre, which is defined by the National Association of Real Estate Investment Trusts (“NAREIT”) in its September 2017 white paper as Net Income (calculated in accordance with GAAP) plus interest expense, income tax expense, depreciation and amortization, gains or losses on the disposition of depreciated property (including gains or losses on change in control), impairment write-downs of depreciated property and of investments in unconsolidated affiliates caused by a decrease in the value of depreciated property or the affiliate, and adjustments to reflect the entity’s share of EBITDAre of unconsolidated affiliates.

 

Adjusted EBITDAre is then calculated as EBITDAre, plus to the extent the following adjustments occurred during the periods presented:

 

·preopening costs;

 

10

 

 

·non-cash lease expense;

 

·equity-based compensation expense;

 

·impairment charges that do not meet the NAREIT definition above;

 

·credit losses on held-to-maturity securities;

 

·transaction costs of acquisitions;

 

·interest income on bonds;

 

·loss on extinguishment of debt;

 

·pension settlement charges;

 

·pro rata Adjusted EBITDAre from unconsolidated joint ventures; and

 

·any other adjustments we have identified herein.

 

We then exclude the pro rata share of Adjusted EBITDAre related to noncontrolling interests in consolidated joint ventures to calculate Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture.

 

We use EBITDAre, Adjusted EBITDAre and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture and segment or property-level EBITDAre and Adjusted EBITDAre to evaluate our operating performance. We believe that the presentation of these non-GAAP financial measures provides useful information to investors regarding our operating performance and debt leverage metrics, and that the presentation of these non-GAAP financial measures, when combined with the primary GAAP presentation of Net Income or Operating Income, as applicable, is beneficial to an investor’s complete understanding of our operating performance. We make additional adjustments to EBITDAre when evaluating our performance because we believe that presenting Adjusted EBITDAre and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture provides useful information to investors regarding our operating performance and debt leverage metrics.

 

Adjusted EBITDAre Margin and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin Definition

 

We calculate consolidated Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin by dividing consolidated Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture by GAAP consolidated Total Revenue. We calculate consolidated, segment or property-level Adjusted EBITDAre Margin by dividing consolidated, segment-, or property-level Adjusted EBITDAre by consolidated, segment-, or property-level GAAP Revenue. We believe Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin is useful to investors in evaluating our operating performance because this non-GAAP financial measure helps investors evaluate and compare the results of our operations from period to period by presenting a ratio showing the quantitative relationship between Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture and GAAP consolidated Total Revenue or segment or property-level GAAP Revenue, as applicable.

 

11

 

 

FFO, Adjusted FFO, and Adjusted FFO available to common stockholders and unit holders Definition

 

We calculate FFO, which definition is clarified by NAREIT in its December 2018 white paper as Net Income (calculated in accordance with GAAP) excluding depreciation and amortization (excluding amortization of deferred financing costs and debt discounts), gains and losses from the sale of certain real estate assets, gains and losses from a change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciated real estate held by the entity, income (loss) from consolidated joint ventures attributable to noncontrolling interest, and pro rata adjustments for unconsolidated joint ventures.

 

To calculate Adjusted FFO available to common stockholders and unit holders, we then exclude, to the extent the following adjustments occurred during the periods presented:

 

·right-of-use asset amortization;

 

·impairment charges that do not meet the NAREIT definition above;

 

·write-offs of deferred financing costs;

 

·amortization of debt discounts or premiums and amortization of deferred financing costs;

 

·loss on extinguishment of debt

 

·non-cash lease expense;

 

·credit loss on held-to-maturity securities;

 

·pension settlement charges;

 

·additional pro rata adjustments from unconsolidated joint ventures;

 

·(gains) losses on other assets;

 

·transaction costs on acquisitions;

 

·deferred income tax expense (benefit); and

 

·any other adjustments we have identified herein.

 

To calculate Adjusted FFO available to common stockholders and unit holders (excluding maintenance capex), we then exclude FF&E reserve contributions for managed properties and maintenance capital expenditures for non-managed properties. FFO available to common stockholders and unit holders, Adjusted FFO available to common stockholders and unit holders and Adjusted FFO available to common stockholders and unit holders (excluding maintenance capex) exclude the ownership portion joint ventures not controlled or owned by the Company.

 

We believe that the presentation of these non-GAAP financial measures provides useful information to investors regarding the performance of our ongoing operations because each presents a measure of our operations without regard to specified non-cash items such as real estate depreciation and amortization, gain or loss on sale of assets and certain other items, which we believe are not indicative of the performance of our underlying hotel properties. We believe that these items are more representative of our asset base than our ongoing operations. We also use these non-GAAP financial measures as measures in determining our results after considering the impact of our capital structure.

 

12

 

 

We caution investors that non-GAAP financial measures we present may not be comparable to similar measures disclosed by other companies, because not all companies calculate these non-GAAP measures in the same manner. The non-GAAP financial measures we present, and any related per share measures, should not be considered as alternative measures of our Net Income (Loss), operating performance, cash flow or liquidity. These non-GAAP financial measures may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures and property acquisitions and other commitments and uncertainties. Although we believe that these non-GAAP financial measures can enhance an investor’s understanding of our results of operations, these non-GAAP financial measures, when viewed individually, are not necessarily better indicators of any trend as compared to GAAP measures such as Net Income (Loss), Operating Income (Loss), or cash flow from operations.

 

Investor Relations Contacts: Media Contacts:
Mark Fioravanti, President and Chief Executive Officer Shannon Sullivan, Vice President Corporate and Brand Communications
Ryman Hospitality Properties, Inc. Ryman Hospitality Properties, Inc.
(615) 316-6588 (615) 316-6725
mfioravanti@rymanhp.com ssullivan@rymanhp.com
~or~ ~or~
Jennifer Hutcheson, Chief Financial Officer Robert Winters
Ryman Hospitality Properties, Inc. Alpha IR Group
(615) 316-6320 (929) 266-6315
jhutcheson@rymanhp.com robert.winters@alpha-ir.com
~or~  
Ray Keeler, Vice President Finance and Strategic Planning  
Ryman Hospitality Properties, Inc.  
(615) 316-6485  
rkeeler@rymanhp.com  

 

13

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

(In thousands, except per share data)

 

   Three Months Ended 
   March 31 
   2023   2022 
Revenues :        
Rooms  $161,251   $101,593 
Food and beverage   215,804    112,116 
Other hotel revenue   47,384    47,402 
Entertainment   67,280    38,024 
Total revenues   491,719    299,135 
           
Operating expenses:          
Rooms   42,059    30,136 
Food and beverage   115,181    71,329 
Other hotel expenses   103,059    86,643 
Management fees   15,195    5,064 
Total hotel operating expenses   275,494    193,172 
Entertainment   51,434    31,731 
Corporate   10,594    9,557 
Preopening costs   190    304 
Loss on sale of assets   -    469 
Depreciation and amortization   48,357    56,028 
Total operating expenses   386,069    291,261 
           
Operating income   105,650    7,874 
           
Interest expense, net of amounts capitalized   (42,528)   (31,937)
Interest income   2,547    1,381 
Loss from consolidated joint ventures   (2,806)   (2,627)
Other gains and (losses), net   (236)   447 
Income (loss) before income taxes   62,627    (24,862)
           
(Provision) benefit for income taxes   (1,633)   65 
Net income (loss)   60,994    (24,797)
           
Net loss attributable to noncontrolling interest in consolidated joint venture   763    - 
Net (income) loss attributable to noncontrolling interest in Operating Partnership   (437)   176 
Net income (loss) available to common stockholders  $61,320   $(24,621)
           
Basic income (loss) per share available to common stockholders  $1.11   $(0.45)
Diluted income (loss) per share available to common stockholders (1)  $1.02   $(0.45)
           
Weighted average common shares for the period:          
Basic   55,182    55,086 
Diluted (1)   59,326    55,086 

 

(1) Diluted weighted average common shares for the three months ended March 31, 2023 include 3.9 million equivalent shares related to the currently unexercisable investor put rights associated with the noncontrolling interest in the Company's OEG business, which may be settled in cash or shares at the Company's option. 

 

14

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

(In thousands)

 

   March 31   Dec. 31, 
   2023   2022 
ASSETS:          
Property and equipment, net of accumulated depreciation  $3,163,900   $3,171,708 
Cash and cash equivalents - unrestricted   318,512    334,194 
Cash and cash equivalents - restricted   95,113    110,136 
Notes receivable   64,209    67,628 
Trade receivables, net   147,215    116,836 
Prepaid expenses and other assets   141,024    134,170 
Intangible assets   104,706    105,951 
Total assets  $4,034,679   $4,040,623 
           
LIABILITIES AND EQUITY:          
Debt and finance lease obligations  $2,866,898   $2,862,592 
Accounts payable and accrued liabilities   332,068    385,159 
Dividends payable   42,189    14,121 
Deferred management rights proceeds   166,715    167,495 
Operating lease liabilities   126,188    125,759 
Deferred income tax liabilities, net   13,682    12,915 
Other liabilities   66,909    64,824 
Noncontrolling interest in consolidated joint venture   319,753    311,857 
Total equity   100,277    95,901 
Total liabilities and equity  $4,034,679   $4,040,623 

 

15

 

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL RESULTS

ADJUSTED EBITDAre RECONCILIATION

Unaudited

(in thousands)

 

   Three Months Ended March 31, 
   2023   2022 
   $   Margin   $   Margin 
Consolidated                
Revenue  $491,719        $299,135      
Net income (loss)  $60,994    12.4%  $(24,797)   -8.3%
Interest expense, net   39,981         30,556      
Provision (benefit) for income taxes   1,633         (65)     
Depreciation & amortization   48,357         56,028      
Loss on sale of assets   -         469      
Pro rata EBITDAre from unconsolidated joint ventures   9         22      
EBITDAre   150,974    30.7%   62,213    20.8%
Preopening costs   190         304      
Non-cash lease expense   1,501         1,173      
Equity-based compensation expense   3,739         3,786      
Interest income on Gaylord National bonds   1,271         1,340      
Transaction costs of acquisitions   -         178      
Adjusted EBITDAre  $157,675    32.1%  $68,994    23.1%
Adjusted EBITDAre of noncontrolling interest in consolidated joint venture  $(4,296)        -      
Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture  $153,379    31.2%  $68,994    23.1%
                     
Hospitality segment                    
Revenue  $424,439        $261,111      
Operating income  $106,070    25.0%  $15,668    6.0%
Depreciation & amortization   42,875         52,271      
Non-cash lease expense   1,019         1,053      
Interest income on Gaylord National bonds   1,271         1,340      
Adjusted EBITDAre  $151,235    35.6%  $70,332    26.9%
                     
Entertainment segment                    
Revenue  $67,280        $38,024      
Operating income  $10,391    15.4%  $2,437    6.4%
Depreciation & amortization   5,265         3,552      
Preopening costs   190         304      
Non-cash lease expense   482         120      
Equity-based compensation   816         824      
Transaction costs of acquisitions   -         178      
Pro rata adjusted EBITDAre from unconsolidated joint ventures   (2,798)        (2,605)     
Adjusted EBITDAre  $14,346    21.3%  $4,810    12.6%
                     
Corporate and Other segment                    
Operating loss  $(10,811)       $(10,231)     
Depreciation & amortization   217         205      
Other gains and (losses), net   (235)        916      
Equity-based compensation   2,923         2,962      
Adjusted EBITDAre  $(7,906)       $(6,148)     

 

16

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL RESULTS

FUNDS FROM OPERATIONS ("FFO") AND ADJUSTED FFO RECONCILIATION

Unaudited

(in thousands, except per share data)

  

   Three Months Ended March 31, 
   2023   2022 
Consolidated          
Net income (loss)  $60,994   $(24,797)
Noncontrolling interest in consolidated joint venture   763    - 
Net income (loss) available to common stockholders and unit holders   61,757    (24,797)
Depreciation & amortization   48,326    55,997 
Adjustments for noncontrolling interest   (1,580)   - 
Pro rata adjustments from joint ventures   23    22 
FFO available to common stockholders and unit holders   108,526    31,222 
           
Right-of-use asset amortization   31    31 
Non-cash lease expense   1,501    1,173 
Loss on other assets   -    469 
Amortization of deferred financing costs   2,674    2,229 
Amortization of debt discounts and premiums   506    (73)
Adjustments for noncontrolling interest   (412)   - 
Transaction costs of acquisitions   -    178 
Deferred tax provision (benefit)   767    (415)
Adjusted FFO available to common stockholders and unit holders  $113,593   $34,814 
Capital expenditures (1)   (23,888)   (12,305)
Adjusted FFO available to common stockholders and unit holders (ex. maintenance capex)  $89,705   $22,509 
           
Basic net income (loss) per share  $1.11   $(0.45)
Diluted net income (loss) per share  $1.02   $(0.45)
           
FFO available to common stockholders and unit holders per basic share/unit  $1.95   $0.56 
Adjusted FFO available to common stockholders and unit holders per basic share/unit  $2.04   $0.63 
           
FFO available to common stockholders and unit holders per diluted share/unit (2)  $1.80   $0.56 
Adjusted FFO available to common stockholders and unit holders per diluted share/unit (2)  $1.89   $0.63 
           
Weighted average common shares and OP units for the period:          
Basic   55,577    55,481 
Diluted (2)   59,721    55,481 

 

(1) Represents FF&E reserve contribution for managed properties and maintenance capital expenditures for non-managed properties.

(2) Diluted weighted average common shares and OP units for the three months ended March 31, 2023 include 3.9 million equivalent shares related to the currently unexercisable investor put rights associated with the noncontrolling interest in the Company's OEG business, which may be settled in cash or shares at the Company's option.

 

17

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL RESULTS

HOSPITALITY SEGMENT ADJUSTED EBITDAre RECONCILIATIONS AND OPERATING METRICS

Unaudited

(in thousands)

 

   Three Months Ended March 31, 
   2023   2022 
   $   Margin   $   Margin 
Hospitality segment                    
Revenue  $424,439        $261,111      
Operating income  $106,070    25.0%  $15,668    6.0%
Depreciation & amortization   42,875         52,271      
Non-cash lease expense   1,019         1,053      
Interest income on Gaylord National bonds   1,271         1,340      
Adjusted EBITDAre  $151,235    35.6%  $70,332    26.9%
                     
Occupancy   72.3%        47.3%     
Average daily rate (ADR)  $237.95        $229.17      
RevPAR  $172.08        $108.41      
OtherPAR  $280.86        $170.23      
Total RevPAR  $452.94        $278.64      
                     
Gaylord Opryland                    
Revenue  $111,806        $73,519      
Operating income  $31,695    28.3%  $15,555    21.2%
Depreciation & amortization   8,554         8,589      
Non-cash lease revenue   (12)        (13)     
Adjusted EBITDAre  $40,237    36.0%  $24,131    32.8%
                     
Occupancy   72.6%        48.8%     
Average daily rate (ADR)  $240.19        $239.77      
RevPAR  $174.40        $116.98      
OtherPAR  $255.76        $165.87      
Total RevPAR  $430.16        $282.85      
                     
Gaylord Palms                    
Revenue  $84,546        $59,848      
Operating income  $27,634    32.7%  $15,858    26.5%
Depreciation & amortization   5,610         5,552      
Non-cash lease expense   1,031         1,066      
Adjusted EBITDAre  $34,275    40.5%  $22,476    37.6%
                     
Occupancy   79.5%        55.6%     
Average daily rate (ADR)  $257.66        $256.19      
RevPAR  $204.78        $142.36      
OtherPAR  $342.02        $244.71      
Total RevPAR  $546.80        $387.07      
                     
Gaylord Texan                    
Revenue  $86,398        $56,636      
Operating income  $28,088    32.5%  $12,916    22.8%
Depreciation & amortization   5,766         6,698      
Adjusted EBITDAre  $33,854    39.2%  $19,614    34.6%
                     
Occupancy   77.1%        57.8%     
Average daily rate (ADR)  $230.83        $221.38      
RevPAR  $177.90        $128.06      
OtherPAR  $351.31        $218.85      
Total RevPAR  $529.21        $346.91      

 

18

 

 

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL RESULTS

HOSPITALITY SEGMENT ADJUSTED EBITDAre RECONCILIATIONS AND OPERATING METRICS

Unaudited

(in thousands)

  

   Three Months Ended March 31, 
   2023   2022 
   $   Margin   $   Margin 
Gaylord National                    
Revenue  $72,772        $32,587      
Operating income (loss)  $8,055    11.1%  $(11,275)   -34.6%
Depreciation & amortization   8,294         8,139      
Interest income on Gaylord National bonds   1,271         1,340      
Adjusted EBITDAre  $17,620    24.2%  $(1,796)   -5.5%
                     
Occupancy   67.3%        35.4%     
Average daily rate (ADR)  $239.70        $219.63      
RevPAR  $161.43        $77.73      
OtherPAR  $243.67        $103.67      
Total RevPAR  $405.10        $181.40      
                     
Gaylord Rockies                    
Revenue  $64,047        $34,787      
Operating income (loss)  $10,868    17.0%  $(16,784)   -48.2%
Depreciation & amortization   14,045         22,648      
Adjusted EBITDAre  $24,913    38.9%  $5,864    16.9%
                     
Occupancy   69.9%        39.2%     
Average daily rate (ADR)  $233.09        $213.46      
RevPAR  $162.97        $83.61      
OtherPAR  $311.13        $173.90      
Total RevPAR  $474.10        $257.51      
                     
The AC Hotel at National Harbor                    
Revenue  $2,211        $1,607      
Operating loss  $(178)   -8.1%  $(407)   -25.3%
Depreciation & amortization   281         327      
Adjusted EBITDAre  $103    4.7%  $(80)   -5.0%
                     
Occupancy   54.3%        46.2%     
Average daily rate (ADR)  $218.52        $176.64      
RevPAR  $118.55        $81.65      
OtherPAR  $9.37        $11.37      
Total RevPAR  $127.92        $93.02      
                     
The Inn at Opryland (1)                    
Revenue  $2,659        $2,127      
Operating loss  $(92)   -3.5%  $(195)   -9.2%
Depreciation & amortization   325         318      
Adjusted EBITDAre  $233    8.8%  $123    5.8%
                     
Occupancy   56.6%        42.7%     
Average daily rate (ADR)  $139.30        $137.24      
RevPAR  $78.87        $58.63      
OtherPAR  $18.65        $19.36      
Total RevPAR  $97.52        $77.99      

 

(1) Includes other hospitality revenue and expense

             

19

 

 

 

 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

   SUPPLEMENTAL FINANCIAL RESULTS

 EARNINGS PER SHARE, FFO PER SHARE AND ADJUSTED FFO PER SHARE CALCULATIONS

Unaudited

 (In thousands, except per share data)

 

   Three Months Ended 
   March 31 
   2023   2022 
Earnings per share:        
         
Numerator:          
Net income (loss) available to common stockholders  $61,320   $(24,621)
Net loss attributable to noncontrolling interest in consolidated joint venture   (763)   - 
Net income (loss) available to common stockholders - if-converted method  $60,557   $(24,621)
           
Denominator:          
Weighted average shares outstanding - basic   55,182    55,086 
Effect of dilutive stock-based compensation   281    - 
Effect of dilutive put rights (1)   3,863    - 
Weighted average shares outstanding - diluted   59,326    55,086 
           
Basic income (loss) per share available to common stockholders  $1.11   $(0.45)
Diluted income (loss) per share available to common stockholders  $1.02   $(0.45)
           
FFO and Adjusted FFO per share:          
           
Numerator - FFO:          
FFO available to common stockholders and unit holders  $108,526   $31,222 
Net loss attributable to noncontrolling interest in consolidated joint venture   (763)   - 
FFO available to common stockholders and unit holders- if-converted method  $107,763   $31,222 
           
Numerator - Adjusted FFO:          
Adjusted FFO available to common stockholders and unit holders  $113,593   $34,814 
Net loss attributable to noncontrolling interest in consolidated joint venture   (763)   - 
Adjusted FFO available to common stockholders and unit holders - if-converted method  $112,830   $34,814 
           
Denominator:          
Weighted average shares and OP units outstanding - basic   55,577    55,481 
Effect of dilutive stock-based compensation   281    - 
Effect of dilutive put rights (1)   3,863    - 
Weighted average shares outstanding - diluted   59,721    55,481 
           
FFO available to common stockholders and unit holders per basic share/unit  $1.95   $0.56 
Adjusted FFO available to common stockholders and unit holders per basic share/unit  $2.04   $0.63 
           
FFO available to common stockholders and unit holders per diluted share/unit (1)  $1.80   $0.56 
Adjusted FFO available to common stockholders and unit holders per diluted share/unit (1)  $1.89   $0.63 

 

(1) Represents equivalent shares related to the currently unexercisable investor put rights associated with the noncontrolling interest in the Company's OEG business, which may be settled in cash or shares at the Company's option.

       

20

 

  

  Hospitality Segment

  Adjusted EBITDAre reconciliation

  Unaudited

  (in thousands)

 

   Mar-23   Dec-22 
Hospitality Segment          
Operating Income  $51,618   $42,530 
Depreciation and Amortization  $14,259   $14,252 
Non-cash lease expense  $340   $351 
Interest income on bonds  $424   $438 
Adjusted EBITDAre  $66,640   $57,572 

 

21

 

 

Ryman Hospitality Properties, Inc. and Subsidiaries

Reconciliation of Forward-Looking Statements

Unaudited

(in thousands)

 

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("Adjusted EBITDAre")

 

    

NEW GUIDANCE RANGE

FOR FULL YEAR 2023

 
   Low   High   Midpoint 
Ryman Hospitality Properties, Inc.               
Net Income  $223,500   $243,500   $233,500 
Provision for income taxes   9,000    10,000    9,500 
Interest Expense, net   182,500    188,000    185,250 
Depreciation and amortization   189,250    199,500    194,375 
EBITDAre  $604,250   $641,000   $622,625 
Non-cash lease expense   4,500    6,000    5,250 
Preopening expense   2,000    2,750    2,375 
Equity-based compensation   15,000    16,250    15,625 
Pension settlement charge   1,500    2,000    1,750 
Interest income on Bonds   4,500    5,500    5,000 
Other gains and (losses), net   250    1,500    875 
Adjusted EBITDAre  $632,000   $675,000   $653,500 
                
Hospitality Segment               
Operating Income  $391,500   $411,500   $401,500 
Depreciation and amortization   167,500    175,000    171,250 
Non-cash lease expense   3,500    4,500    4,000 
Interest income on Bonds   4,500    5,500    5,000 
Other gains and (losses), net   3,000    3,500    3,250 
Adjusted EBITDAre  $570,000   $600,000   $585,000 
                
Entertainment Segment               
Operating Income  $76,000   $80,500   $78,250 
Depreciation and amortization   20,000    22,500    21,250 
Non-cash lease expense   1,000    1,500    1,250 
Preopening expense   2,000    2,750    2,375 
Equity-based compensation   3,500    4,250    3,875 
Loss from unconsolidated companies   (8,500)   (7,500)   (8,000)
Adjusted EBITDAre  $94,000   $104,000   $99,000 
                
Corporate and Other Segment               
Operating Loss  $(44,000)  $(43,000)  $(43,500)
Depreciation and amortization   1,750    2,000    1,875 
Equity-based compensation   11,500    12,000    11,750 
Pension settlement charge   1,500    2,000    1,750 
Other gains and (losses), net   (2,750)   (2,000)   (2,375)
Adjusted EBITDAre  $(32,000)  $(29,000)  $(30,500)
                
Ryman Hospitality Properties, Inc.               
Net Income available to common shareholders   222,500    232,500   $227,500 
Depreciation and amortization   189,250    199,500    194,375 
Adjustments for noncontrolling interest   (8,000)   (6,000)   (7,000)
Funds from Operations (FFO) available to common shareholders  $403,750   $426,000   $414,875 
Right of use amortization   -    500    250 
Non-cash lease expense   4,500    6,000    5,250 
Pension settlement charge   1,500    2,000    1,750 
Other gains and (losses), net   1,250    1,500    1,375 
Adjustments for noncontrolling interest   (1,500)   (1,000)   (1,250)
Amortization of deferred financing costs   10,000    12,000    11,000 
Amortization of debt discounts and premiums   500    1,000    750 
Deferred Taxes   5,000    6,000    5,500 
Adjusted FFO available to common shareholders  $425,000   $454,000   $439,500 

 

22

 

  

Ryman Hospitality Properties, Inc. and Subsidiaries

Reconciliation of Forward-Looking Statements

Unaudited

(in thousands)

 

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("Adjusted EBITDAre")

 

     PRIOR GUIDANCE RANGE
FOR FULL YEAR 2023		 
   Low   High   Midpoint 
Ryman Hospitality Properties, Inc.               
Net Income  $199,750   $216,000   $207,875 
Provision for income taxes   6,000    7,000    6,500 
Interest Expense, net   182,500    193,000    187,750 
Depreciation and amortization   189,250    199,500    194,375 
EBITDAre  $577,500   $615,500   $596,500 
Non-cash lease expense   4,500    6,000    5,250 
Preopening expense   2,000    2,750    2,375 
Equity-based compensation   15,000    16,250    15,625 
Pension settlement charge   1,500    2,000    1,750 
Interest income on Bonds   4,500    5,500    5,000 
Adjusted EBITDAre  $605,000   $648,000   $626,500 
                
Hospitality Segment               
Operating Income  $371,500   $391,500   $381,500 
Depreciation and amortization   167,500    175,000    171,250 
Non-cash lease expense   3,500    4,500    4,000 
Interest income on Bonds   4,500    5,500    5,000 
Other gains and (losses), net   3,000    3,500    3,250 
Adjusted EBITDAre  $550,000   $580,000   $565,000 
                
Entertainment Segment               
Operating Income  $69,000   $73,500   $71,250 
Depreciation and amortization   20,000    22,500    21,250 
Non-cash lease expense   1,000    1,500    1,250 
Preopening expense   2,000    2,750    2,375 
Equity-based compensation   3,500    4,250    3,875 
Loss from unconsolidated companies   (8,500)   (7,500)   (8,000)
Adjusted EBITDAre  $87,000   $97,000   $92,000 
                
Corporate and Other Segment               
Operating Loss  $(44,000)  $(43,000)  $(43,500)
Depreciation and amortization   1,750    2,000    1,875 
Equity-based compensation   11,500    12,000    11,750 
Pension settlement charge   1,500    2,000    1,750 
Other gains and (losses), net   (2,750)   (2,000)   (2,375)
Adjusted EBITDAre  $(32,000)  $(29,000)  $(30,500)
                
Ryman Hospitality Properties, Inc.               
Net Income available to common shareholders   200,000    212,500   $206,250 
Depreciation and amortization   189,250    199,500    194,375 
Adjustments for noncontrolling interest   (8,000)   (6,000)   (7,000)
Funds from Operations (FFO) available to common shareholders  $381,250   $406,000   $393,625 
Right of use ammortization   -    500    250 
Non-cash lease expense   4,500    6,000    5,250 
Pension settlement charge   1,500    2,000    1,750 
Other gains and (losses), net   1,250    1,500    1,375 
Adjustments for noncontrolling interest   (1,500)   (1,000)   (1,250)
Ammortization of deferred financing costs   10,000    12,000    11,000 
Ammortization of debt discounts and premiums   500    1,000    750 
Deferred Taxes   (5,000)   (4,000)   (4,500)
Adjusted FFO available to common shareholders  $392,500   $424,000   $408,250 

 

23

 EX-101.SCH 3 rhp-20230503.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 rhp-20230503_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Document Type Amendment Flag Amendment Description Document Registration Statement Document Annual Report Document Quarterly Report Document Transition Report Document Shell Company Report Document Shell Company Event Date Document Period Start Date Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Current Fiscal Year End Date Entity File Number Entity Registrant Name Entity Central Index Key Entity Primary SIC Number Entity Tax Identification Number Entity Incorporation, State or Country Code Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Three Entity Address, City or Town Entity Address, State or Province Entity Address, Country Entity Address, Postal Zip Code Country Region City Area Code Local Phone Number Extension Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Title of 12(b) Security No Trading Symbol Flag Trading Symbol Security Exchange Name Title of 12(g) Security Security Reporting Obligation Annual Information Form Audited Annual Financial Statements Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Interactive Data Current Entity Filer Category Entity Small Business Entity Emerging Growth Company Elected Not To Use the Extended Transition Period Document Accounting Standard Other Reporting Standard Item Number Entity Shell Company Entity Public Float Entity Bankruptcy Proceedings, Reporting Current Entity Common Stock, Shares Outstanding Documents Incorporated by Reference [Text Block] EX-101.PRE 5 rhp-20230503_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 6 tm2314504d1_ex99-1img01.jpg GRAPHIC begin 644 tm2314504d1_ex99-1img01.jpg M_]C_X 02D9)1@ ! 0$ 8 !@ #_VP!# @&!@<&!0@'!P<)"0@*#!0-# L+ M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$ P$! 0$! M 0$! 0 $" P0%!@<("0H+_\0 M1$ @$"! 0#! <%! 0 0)W $" M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,! (1 Q$ /P#W/5=0CTG2 M[F_F5FC@0NP7J17G(^.6A$?\>-Y^5>@:]9+J6A7MF[F-9HBI91D@?2OGZ7P3 MH3V&HR:?XADN;FQA,KP-$%X! Y_.L*LIKX3TL%2P]1/VM[GH7_"\M"_Y\;O\ MJ/\ A>6A?\^-W^5>! Y&:[6S\'Z+_P (YIVK:MK[6)OM_EQ^6&^Z<'^8KFC6 MJ2V/5J9?A::3DGKZGI'_ O+0O\ GQN_RIR?'#P^3\UI>+_P'->9GPUX0[>, M?_( IM]X'B;2)]3T+68-5@MQF=%7:Z#UQ5>TJ^1G]4P=[.Z];K]#V73/BOX5 MU.=(1=O;R,<#SEVC/UKM8Y8Y5#(X8$9!!ZBOC7@BO3/"_BC64\ :B]G>,E[H M[JT3L V87_@(.00",CTS54\0WI(QQ65Q@E*F_+4^@:*^:O\ A;7C3&?[13'K M]F3_ .)I/^%M^,_^@E'_ . \?_Q-7]9@8?V17[K[SZ6HKYJ7XL^-&88U!",@ M<6R?_$UZ;;_$>6S\86FB:E&'BN[6"2.5%P5D=,G(],U<:T9&-7+ZU/>SWV\C MTBBOGO7_ (G^,+#Q#J5K!?*D$%R\: VZ'"@X')6LW_A;?C/_ *"4?_@/'_\ M$U+Q$$[&L55U,;5=A_Q[1\ $_[-'UB-KDK+*SDXW6A]*T5\S_\ "V?&?_057_P'C_\ MB:/^%L^,_P#H*)_X#Q__ !-+ZS T_LBOW7]?(^F**\VTSXE@:1I&J:B%-C=K MY%Q*HY@G4X.?8]?QKT6&>.YA2:&19(G 974Y!![UO&2EL>;4HSI_$B2BO#_B M!\3]:L/%=QI^AWB0VUKB-SY2MN?OR0>G3\*Y?_A;/C/_ *"J_P#@/'_\36,L M1!.QWT\KKSBI*VI],45\SCXK^-&.!J8)]K:/_P")KJ/!?Q#\4:C>:A_:%T)H MX+-YD4P*HW ''( HCB(MV%4RRM3BY-H]PHK,\/ZU!X@T*TU2W(V3QABO]UNX M_ \5Y/\ $;XEZSIGBF33=#O%ABME"RGRU?<_?J#TZ5I.HHQYF"?^^:U_"WQ6\0R>(K2'5]062RF;RWS"B[2> M V0!TK)8F#=CLEE5>,7*ZT/H&BN>\-^*(M9>YL;@+#JEFYCN(,]P<;E]C7*? M%?Q7KGAHZ=_8]QY/G;O,_=*^?S!K9S2CS'#3P\YU%2V9Z917S0?BOXU7[VI@ M?6VC'_LM)_PMGQG_ -!5?_ >/_XFL?K,#T/[(K]U_7R/IBBO!?"/Q8UR77([ M76KZ-[>X_=K(8E41.?NL< <9QFNYUSQQ<_\ "'ZQ+9@VFMZ?A98BH;:=P&1G MJ#6D:L9*Z.6I@:M.:@^IZ#17S0?BMXV49.I8'O:Q_P#Q-)_PMCQG_P!!1?\ MP'C_ /B:S^LP.K^R*_='TQ0>AKPKP1\0O%>K^*[:RO[W?;NDA9?LZ+R$8CD+ MZ@5Z'X \;KXOT^99HQ'?6WRS*H^4^XK2%6,MCDKX.I1O?6W;S.RHHHK4XPKB M/&OA[3;;1=;UJ"W6*\ELS%*RN=\>?\ (C:O_P!<#_,5,U[K M-J$FJBMW7YGRF/NCZ5Z6-!'B?P%X;A@U*S@>T,_FI-)@_,RX_D:\T'W1]*Z[ M3O $M_HMIJLNK6%I%=;O+6X."=IP>]>93O=JUSZ_$V2BW*UGVOT.^A^&/@7R M$\[6Y/-VC?MN%QG'..*CO=-\&^ ])U*YT[5)+F\N[CV@V1Q1C$<"]SGNQ]:F,&M>K-JM:,_=V2:NWIM MK;YFCX3M_%$>@:>T>CV^IZ%<%UDB\A3(!G!^;&?IS7/>.?!MQX5U%72.3^SK MD;X&8*0<'N MI[$>]=3H7C;J>-#,G&MS6T>_^?J?-G@GQ0/#>JD7$4>%-;ET^[!*_>AE MQQ(G8U;TWQQK.E^&[C1+>;]S(3YP-BKZ9]372VUI<_$?Q#!I.F1M:> M'=. 6-5& J]V/JS=:>LY-6S^!)KBC'FBSWZU5TZL%T=[_A8Y7P+-%J46H>%;MOW.HIN@)_@F M X(^O%=5X"\3W_AOP7K\-^K>7IKF.'>>DAZH/QY_&O)[:YEL[J*Y@++/6=-TZVTU$B%PHO+X)QNG/7/Y5=.=E?JC#$4'.?):ZDT_1K_-' M#%I[Z[+,3)<3R$D]V9CS^IK9\7Z(OAW6UTP??BMHC*?5R@+?J36AX!M(4U*X MUV\0-9Z4GG$'HTG\(J7XHRM/XWEF< -);0.0/4QJ:CE]SF9M[5O$*FMDG^GZ M"?#1O+\174NQ':.RE=0Z!@" <<&KVF>(_'GB>QN8]-@AGB9/+F,-G&IP1TR% MJA\./^0Y??\ 7A-_Z":[KX"_\@[5/^NB_P#H(K6FKI1OW.3%R4'.HXIMW8&O+/#5QIUIXAL[K50QLX9!(ZJN2V.0,4JMKJ"V16"3Y M)8B2UEJ=WJ>B63>#'\-PQ#^V=*MUOI2.K,PW.OX9(KR[J.#^->IZ7XD\&:?X MLN?$,M_J=U,$)G@&HJVT: M-L(YIN,D^^O=[G8ZIJUY]DT;QKILS1WR 6UXRG[TB<98>C ?K7M5T;CQ9X7M MM0T6ZA@GEB$D;2P)*N2/ND,#^E>#^"9$U$WWAFX8"+4XR(2>B3C[A_/ KT/X M*:[)]FN_#MV2LULQ>-6Z@9Y'X'-=%*5WKU_,\[&T>6-XK6'_ *2_\GH&&/43$XF\J-4!.XX.% %]>D?' M?_D):3_UR;^=:P] UJX\/ZS;ZC;@-Y;8DC/21#]Y2/0C(J8MPE8 MWJ16(IJ26JZ/\4_Z[,[1?$-]XD^'7B*34A;.]N8O+:.W2,KEAG[H%<9X:57\ M5:.K ,K7L(((R"-XKT+4=&MM.\!^)+[33NTK4/)FMB/X067*_A7G_AC_ )&S M1O\ K^A_]#%.:?-&_P#6IG0<73J."LM?R.VU+QCXL/BK4M+T:.!_*ED1$ALX MRP0<==N>E=+\&=&U/2[C5FU&QFMO,5=ID7&ZLOP+_P ELU;_ 'I_ZU[@>AKI MI0N^9ON>3C*RIP]C&*U2=Q:***ZCQQ"0!DG KF_'GCPK?>*O WA**S5#'"\XG)8TVI8:DBCH%# 5PPNKW1]%6M.SC-)K_ "MW/6]"^#LFAZQ;:E::Z=\+ M9P(QAE[@^U>>_$_0!H/C2X$:;;>[ N(L=.>&'YC]:W[_ %[7/"FE^#7AFG@G M:*59X922''F#[P/UKM_B9X5N/%GABSO;*(/?VP\Q4'5E8#*[665L6\P-O-Z;6X_GBO9? %OKV@ZA>:- M=P1OHWF-)9W"D< G...O6O#6\,:\K%6T>\!'4>4:W/"^D^(XO$^EF:UU)8$G M7.[?M K.E)Q:5CLQE*%6+:DMORVZGTV*6O*O GBW4I_'FM>'KF0SVJ32R0LY MRT>&^Z#Z!SVKN4TU='SE2A*G44'UM^)SGQ M=TZTNO ]Q--2M&M;V?5;B!_O1R;B#6/\ MV-JG_0.NO^_9KSZSYY72/I\%2^KT^24D]>YV^M65]_PBOAG1M*MY$LKV 7%T MT2$[Y&8C+'O@ 5[;X5\,V7A71(=/LT&0-TLI'S2.>I-?.UMJWC>RMH[:UNM6 MA@C&U(TW */05VZ>-_$/ASPAX?U"[EFGGFN9TN$N>6D4,,=>>.U;TYQ3NT>? MBJ%6<5",D[M_/=ZGMM8GC'_D3M6_Z]FJ6^NY;GPK)>6V])9;42QA?O*2N1C\ MZ^]ILS:GB$J5YO5;^J_P S6U+2M0T[P7I.AV5G M/+<7I6]O3&N<;N44_1<51^*"-%XU>-QATM8%8>A$2UT<_B+7-4\&:CJND37< MHBEF:PF ZGY37>_!>WN-'TC5Y=0@DMD5@V95V\!17 ME-A:>)-+N?M-A;ZA;3XQYD2LIQ]:T+C4?'5W;O;W%SK,L,@VNC,Y##T-%.7+ M;1Z!B:+J\R4E9V_ S/$VM2>(?$=]JDA)$TI,8/\ "@X4?EBNIT_0+#2_"^GW MVH>';G5KN_S*JI(Z"./^'[I[]:X_^PM6QC^S+K_OT:['PGJ/C-?$>DVTUQJR MV0GC1HV+! F0,8],5,/BO)&M?2FE3DK+S[+R&XT;_HG=Y_X$2_XTS7O#ME<^ M$3K>FZ)/IC#<:])\">--1U7Q3K&A7Q$J6TTIAFZ,%#D!3ZU MY?X@OO&=UJ.I6CS:M+9O-(GE$L4*;C@8],5K)1Y;[_(Y*4ZCJ\K]VUGK)NZ? MJTEDL]0"S7"0J2%8\2*?QS M7 _V%J__ $#+K_OT:T["?QEI5O\ 9]/?5K:'.?+BW*,_2L876Z.ZO&,]8M=5 MJ^C.Y^.K!M0T=AT,3']:Y7X>(\MWK<<:EG;2IPJ@97_X M-SU#X8^&/[4\#:QI.K6LD23RX7S%P5..&'N#S7DFM:/=:#J]QIMXN)H6(SV8 M=B/K7HGA+6O%T=IK]QJ-[J7[C3I)(6N"2%<#((SWIVJ6]Q\2_ __ D"6BC6 M-/.R7RA_KU'7CU[U'_IFP8$_@:I^&/^1LT;_K^A_]#%1?V%JW_0,NO^_1K3\-Z+JD?BG2'?3K ME46]A+,8S@#>*P7,VKG?)TXPGRM:W_([GP+_ ,ELU;_?G_K7N)Z&O#O O_); M-6_WI_ZU[B>AKT*/POU9\UF'\2/^%?D%%%%;'GC)$$D;(2PW#&5."/H:\LU_ MP=X]34F.A^)KN2S?D+-WXU8MM=2?P]_:SQ%%()$9/.F_\"S7JEKK M:W6A/J2Q%6C!WQ$\JP[&JUMXI@NK*VGCC/F23"*2)CAHR1D'\JETD^YI'&SB MK63^2.%^'_@'Q%H/BZ75M7:)Q+$P=Q)N9F)!R:]6EC\V)HRS+N&,J<$?0U1U M^]FT[1I[J @21@$9&>]8UYXKC-M9BSES<22(KADXP1S50@HJR,*U>5:?/+LO_ (13XK_]!Z7_ ,"J]1N=9G%_/:6- MD;EK< S,6V@9&<#WQ4$_BF%-/MKF.+YIW:/;(VT(RG!!-2Z2?5F\<;-*W*ON M1YI_PBGQ7_Z#TO\ X%51U+X<_$+61$NJ7ZW:Q-E!+<;MOKBO7)?$+0Z(^H-; MJ2C[-JR AO<&F6OB3S[B6W>W4.D)E!CD#KCT)'0TG13W;+685$[J,?N1J:=; M/;:/:6LO#Q6Z1MM/<* <&O/?%'@[QD+LS^'/$M\87.3;S7+?)]"3TKKI_$-Q M%I$&I1V.^"2,.WS@%23TJQ=:S-8Z2;NZM-LI;:D*MDMZ5HX)JQRTZTJ4_P#"*?%?_H.3_P#@8?\ &FR>$/BI+&TC*#MST/0C\#5J_OOL.F2WA3=Y:;MN>M9^Q7=G5]?G_+'[D<5\,/"&I^% M]*U"VU0(C3R[E\I\\;0.HZ=*Q?%G@3QG8!\S#I3[S7)=,2WDO[7RHI,AW#9"'L#]:KV:Y>4R M6+J*JZNEWY&'X2\$2Z+X'72);J>UO929)9K:4J5<^A'H,5Q]YX0^)\5Y*EKX MBN)H QV2&Z*EA[C->N:;=2WMC'(KP7^H1-J5O;BWF9 M(XWBR6 Z4.DFK!'%U(R[7)#-L"D?7UJ:+Q3$UA(Y(]5GL8K:-FB(&7E"[LCM3]0UZ6PN[>U:V3S98O,.^0*% M]1FJ5-*/*92Q=253VKM?TT/+_P#A$_BO_P!!R?\ \##_ (T?\(G\5_\ H.S? M^!A_QKT^'7Y[K2VO+:RWF-F612XP-O<'O31XAN%T1M4EL=D156C&_)8'^53[ M%=W]YK]?G_+'[D>8GPI\5_\ H.3_ /@8?\:/^$4^*_\ T')__ P_XUZAJ/B% MK+4S9+!&S",/N>0(/UI;_7Y-/CM4FMT2XGSP\@"+CU:CV*[O[Q_7Y_RQ^Y'E M-SX+^*%W;26]SJ\DL,BE7C>[R&!Z@UW?PQ\,:CX6T&XM-26-97F+KL;(Q76Z M=>F^M!.T80DXP&##\"*I^(M0GTW3DGMRH4GYK5KA@A_W>>*X[_A%/BO_ -!R?_P,/^-> MIW'B*"TUU-.N$**Z@B;^$$] ::?$:+8-/]G9I#<&WBB4\NV<"B5)-W"GC)PC MRV3]4C@/A_X"\1Z%XP?5]8,;J\;AY!)N9F/AJA97E[-*8[NP,'R[@X; M.,5H44 M9MOI*VFJSWL$C(DZCS(0/E+#^+ZU);Z:MOJMU?!R6N%12N.!MS_C5ZB@##_X M1BS:7S929)!,\RD]MP Q[CC-+_PCD36%M923N]O#*TC+TWDDD9^F:VZ* ,6/ MP[#;_;D@F>.&[4!H^H#?WAGO_A3)_#%K--8SAF2>U"KO7CS !P&]:W:* *>J M6"ZGI\EHSE%?&6'6H;_2%OK.VMVE91 ZL"!UVBM*B@#'NM$=[Z6[L[V6TDG4 M+,$ (;' //0XH.@)'IL5G;SM&J,6)90_F$G)+ @YYK8HH Y]/"L"Z;/:&8YG ME$LC!0!D8& H& .*UC80+;20PQ1Q>8NTE$ JU10!DOH:/H$>E>VM MQ-AE@S^[900V?7-54\-VZZ;-IYE?[,TADB X,7.1@^U;=% &1;:(ZWL=W>7L MMW+$I6+> OO@=ZDTS1+738=H1))-[/YC(-V22>OXUIT4 84WAYWU*XO8;PQ MO,02#$C8P,<9!Q4\NA175W!<7C"X,<)B974$-GJ:UJ* ,VRTG['I#:=Y[/'M M*(2!E5/0?A44NA)+X?CTDS,$1%3?@9XK7HH Q;W03=ZD;U+GRW,8C(,:N,?B M#4ESI-QJD'^E7Z* ,R;1;>YO+F:X'FQW$0B:-AQ@=_K52 M'PO;PZ2+ 7$N4E\Z*;/SHV<@@UO44 9UII]U"[/<:C-.Q7: 0 ![X'>I[&VD MM+-89;B2X=>LDG4U:H/0T %%%% !11D>M)D>HH 6BDR/449'J* %KE?$?B)] M/U&&""ZBC\A1-<(^,NI. H]^"?PKJP^Q1@B#:5"EL\'M^M1MI=FT-K$4^6U(:$ACE2!CK2:94915U8S;+ M6[N^U&>V00((IFCP5;) .<].]2#Q"A\1_V;^[\G&P2;OF,H )7'T(_6K4>C MVT,SR137$>^0R,JSL%+?3.*#HFG&-5\A_CN M&= OE3M$,=P,2=%F=@_D1AV( ';%78]&MH9GEBEN$WR&1 ME6=@I8]>,XJ2_P!,MM1,+3&17A)*-'(4()]P:'>PDXJ5^A0:[N]/TC[5FXN7 M=QQ/'@QCU( SCC]:+35KJ]LIY+>6SDEA/.,@8QGD=0:MC2+<0-$9[E@6#!FN M&+*?8YR*DM=,MK59MI=WFXDDD:4+90<>W6H[O3;>\FBF=Y4DB!"O'(4(!Z]#4T,"16_D;W=<$9= MRQ.?X-27&KWEMIL5R8XW\U\>8J-M1?4C MK5V32;.2SMK7#I';;?*V.5*[>G(YH;2H'A$;3W)*MN5S.VX'ZYS19A>'8H#6 M;N71YKVV>TE:#=O S@X_D:9=Z[>Z?:6%Q<00NEPX,GEY_=I@$G\*TXM*M(K2 M>WPS+/DRL[DLY(QR3S4CZ?:RI CH&6 ;4!/&,8Y]>*+,.:%]C$E\42@ZL\4" M-#9Q[HG)/[SU_#.:FDUF]CTBZOD6WE:-?W:@,N6]#FKG]@Z;]G>!80D3PK 5 M5B $ P /2GG2;=H9(I99YHY!@B29F_+)XHLPWC1)S&WF)) MG,<@ZJ?RJ72;V_O9)S<);K'%*\7[O.25)&>?I5O^SK3^T_[1$2BZ*>69 >J^ M]2VUK#:"01#'F2-(W.2!@$>E#3Z%*<;)217.JR@:G^Z4?9$#*#W^7=@U1O/$-Q;O'E(H M8VB$GF2JQ5B1T!'2M&YT6SNII)7:53*H64)*5$@QCY@#SQ3KC2+6X:GJ$4ME]G%J\=VP56))QQG/'45LQ[_ "U\S&_'S;>F M:KG3[0K:J(PJVI!A"G 7C%6LCU%-$MI["T4F1ZBC(]13)%H/0TF1ZB@D8/- M"T444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% ! J1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110!__9 end XML 7 R1.htm IDEA: XBRL DOCUMENT v3.23.1
Cover
May 03, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date May 03, 2023
Entity File Number 1-13079
Entity Registrant Name RYMAN HOSPITALITY PROPERTIES, INC.
Entity Central Index Key 0001040829
Entity Tax Identification Number 73-0664379
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One One Gaylord Drive
Entity Address, City or Town Nashville
Entity Address, State or Province TN
Entity Address, Postal Zip Code 37214
City Area Code 615
Local Phone Number 316-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $.01
Trading Symbol RHP
Security Exchange Name NYSE
Entity Emerging Growth Company false
XML 8 tm2314504d1_8k_htm.xml IDEA: XBRL DOCUMENT 0001040829 2023-05-03 2023-05-03 iso4217:USD shares iso4217:USD shares 0001040829 false 8-K 2023-05-03 RYMAN HOSPITALITY PROPERTIES, INC. DE 1-13079 73-0664379 One Gaylord Drive Nashville TN 37214 615 316-6000 false false false false Common Stock, par value $.01 RHP NYSE false EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.23.1 html 1 22 1 false 0 0 false 3 false false R1.htm 00000001 - Document - Cover Sheet http://rymanhp.com/role/Cover Cover Cover 1 false false All Reports Book All Reports tm2314504d1_8k.htm rhp-20230503.xsd rhp-20230503_lab.xml rhp-20230503_pre.xml tm2314504d1_ex99-1.htm http://xbrl.sec.gov/dei/2021q4 true false JSON 14 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "tm2314504d1_8k.htm": { "axisCustom": 0, "axisStandard": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2021q4": 22 }, "contextCount": 1, "dts": { "inline": { "local": [ "tm2314504d1_8k.htm" ] }, "labelLink": { "local": [ "rhp-20230503_lab.xml" ] }, "presentationLink": { "local": [ "rhp-20230503_pre.xml" ] }, "schema": { "local": [ "rhp-20230503.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd", "https://xbrl.fasb.org/srt/2021/elts/srt-roles-2021-01-31.xsd", "https://xbrl.fasb.org/srt/2021/elts/srt-types-2021-01-31.xsd", "https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd", "https://xbrl.fasb.org/us-gaap/2021/elts/us-roles-2021-01-31.xsd", "https://xbrl.fasb.org/us-gaap/2021/elts/us-types-2021-01-31.xsd", "https://xbrl.sec.gov/country/2021/country-2021.xsd", "https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd" ] } }, "elementCount": 59, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2021q4": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 22, "memberCustom": 0, "memberStandard": 0, "nsprefix": "rhp", "nsuri": "http://rymanhp.com/20230503", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "b", "p", "body", "html" ], "baseRef": "tm2314504d1_8k.htm", "contextRef": "From2023-05-03to2023-05-03", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "00000001 - Document - Cover", "menuCat": "Cover", "order": "1", "role": "http://rymanhp.com/role/Cover", "shortName": "Cover", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "b", "p", "body", "html" ], "baseRef": "tm2314504d1_8k.htm", "contextRef": "From2023-05-03to2023-05-03", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentDescription": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Description of changes contained within amended document.", "label": "Amendment Description" } } }, "localname": "AmendmentDescription", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "stringItemType" }, "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_AnnualInformationForm": { "auth_ref": [ "r14" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.", "label": "Annual Information Form" } } }, "localname": "AnnualInformationForm", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_AuditedAnnualFinancialStatements": { "auth_ref": [ "r14" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.", "label": "Audited Annual Financial Statements" } } }, "localname": "AuditedAnnualFinancialStatements", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CountryRegion": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Region code of country", "label": "Country Region" } } }, "localname": "CountryRegion", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "xbrltype": "stringItemType" }, "dei_CurrentFiscalYearEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "End date of current fiscal year in the format --MM-DD.", "label": "Current Fiscal Year End Date" } } }, "localname": "CurrentFiscalYearEndDate", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "gMonthDayItemType" }, "dei_DocumentAccountingStandard": { "auth_ref": [ "r13" ], "lang": { "en-us": { "role": { "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.", "label": "Document Accounting Standard" } } }, "localname": "DocumentAccountingStandard", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "accountingStandardItemType" }, "dei_DocumentAnnualReport": { "auth_ref": [ "r11", "r13", "r14" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a form used as an annual report.", "label": "Document Annual Report" } } }, "localname": "DocumentAnnualReport", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentFiscalPeriodFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.", "label": "Document Fiscal Period Focus" } } }, "localname": "DocumentFiscalPeriodFocus", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "fiscalPeriodItemType" }, "dei_DocumentFiscalYearFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.", "label": "Document Fiscal Year Focus" } } }, "localname": "DocumentFiscalYearFocus", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "gYearItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentPeriodStartDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format.", "label": "Document Period Start Date" } } }, "localname": "DocumentPeriodStartDate", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentQuarterlyReport": { "auth_ref": [ "r12" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a form used as an quarterly report.", "label": "Document Quarterly Report" } } }, "localname": "DocumentQuarterlyReport", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentRegistrationStatement": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a form used as a registration statement.", "label": "Document Registration Statement" } } }, "localname": "DocumentRegistrationStatement", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentShellCompanyEventDate": { "auth_ref": [ "r13" ], "lang": { "en-us": { "role": { "documentation": "Date of event requiring a shell company report.", "label": "Document Shell Company Event Date" } } }, "localname": "DocumentShellCompanyEventDate", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentShellCompanyReport": { "auth_ref": [ "r13" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.", "label": "Document Shell Company Report" } } }, "localname": "DocumentShellCompanyReport", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentTransitionReport": { "auth_ref": [ "r15" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a form used as a transition report.", "label": "Document Transition Report" } } }, "localname": "DocumentTransitionReport", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "submissionTypeItemType" }, "dei_DocumentsIncorporatedByReferenceTextBlock": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Documents incorporated by reference.", "label": "Documents Incorporated by Reference [Text Block]" } } }, "localname": "DocumentsIncorporatedByReferenceTextBlock", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "textBlockItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine3": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 3 such as an Office Park", "label": "Entity Address, Address Line Three" } } }, "localname": "EntityAddressAddressLine3", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCountry": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "ISO 3166-1 alpha-2 country code.", "label": "Entity Address, Country" } } }, "localname": "EntityAddressCountry", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "countryCodeItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityBankruptcyProceedingsReportingCurrent": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not. Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.", "label": "Entity Bankruptcy Proceedings, Reporting Current" } } }, "localname": "EntityBankruptcyProceedingsReportingCurrent", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityCommonStockSharesOutstanding": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.", "label": "Entity Common Stock, Shares Outstanding" } } }, "localname": "EntityCommonStockSharesOutstanding", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "sharesItemType" }, "dei_EntityCurrentReportingStatus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.", "label": "Entity Current Reporting Status" } } }, "localname": "EntityCurrentReportingStatus", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityExTransitionPeriod": { "auth_ref": [ "r19" ], "lang": { "en-us": { "role": { "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.", "label": "Elected Not To Use the Extended Transition Period" } } }, "localname": "EntityExTransitionPeriod", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "fileNumberItemType" }, "dei_EntityFilerCategory": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.", "label": "Entity Filer Category" } } }, "localname": "EntityFilerCategory", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "filerCategoryItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityInteractiveDataCurrent": { "auth_ref": [ "r16" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).", "label": "Entity Interactive Data Current" } } }, "localname": "EntityInteractiveDataCurrent", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityPrimarySicNumber": { "auth_ref": [ "r14" ], "lang": { "en-us": { "role": { "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.", "label": "Entity Primary SIC Number" } } }, "localname": "EntityPrimarySicNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "sicNumberItemType" }, "dei_EntityPublicFloat": { "auth_ref": [], "crdr": "credit", "lang": { "en-us": { "role": { "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.", "label": "Entity Public Float" } } }, "localname": "EntityPublicFloat", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "monetaryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityShellCompany": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.", "label": "Entity Shell Company" } } }, "localname": "EntityShellCompany", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntitySmallBusiness": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).", "label": "Entity Small Business" } } }, "localname": "EntitySmallBusiness", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "employerIdItemType" }, "dei_EntityVoluntaryFilers": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.", "label": "Entity Voluntary Filers" } } }, "localname": "EntityVoluntaryFilers", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityWellKnownSeasonedIssuer": { "auth_ref": [ "r17" ], "lang": { "en-us": { "role": { "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.", "label": "Entity Well-known Seasoned Issuer" } } }, "localname": "EntityWellKnownSeasonedIssuer", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_Extension": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Extension number for local phone number.", "label": "Extension" } } }, "localname": "Extension", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_NoTradingSymbolFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a security having no trading symbol.", "label": "No Trading Symbol Flag" } } }, "localname": "NoTradingSymbolFlag", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "trueItemType" }, "dei_OtherReportingStandardItemNumber": { "auth_ref": [ "r13" ], "lang": { "en-us": { "role": { "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.", "label": "Other Reporting Standard Item Number" } } }, "localname": "OtherReportingStandardItemNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "otherReportingStandardItemNumberItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r7" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r8" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_Security12gTitle": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(g) registered security.", "label": "Title of 12(g) Security" } } }, "localname": "Security12gTitle", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SecurityReportingObligation": { "auth_ref": [ "r9" ], "lang": { "en-us": { "role": { "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.", "label": "Security Reporting Obligation" } } }, "localname": "SecurityReportingObligation", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "securityReportingObligationItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r10" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r18" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://rymanhp.com/role/Cover" ], "xbrltype": "booleanItemType" } }, "unitCount": 3 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r10": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r11": { "Name": "Form 10-K", "Number": "249", "Publisher": "SEC", "Section": "310", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r12": { "Name": "Form 10-Q", "Number": "240", "Publisher": "SEC", "Section": "308", "Subsection": "a", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r13": { "Name": "Form 20-F", "Number": "249", "Publisher": "SEC", "Section": "220", "Subsection": "f", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r14": { "Name": "Form 40-F", "Number": "249", "Publisher": "SEC", "Section": "240", "Subsection": "f", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r15": { "Name": "Forms 10-K, 10-Q, 20-F", "Number": "240", "Publisher": "SEC", "Section": "13", "Subsection": "a-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r16": { "Name": "Regulation S-T", "Number": "232", "Publisher": "SEC", "Section": "405", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r17": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "405", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r18": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r19": { "Name": "Securities Act", "Number": "7A", "Publisher": "SEC", "Section": "B", "Subsection": "2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-23", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "g", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r6": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12, 13, 15d", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r7": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r8": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r9": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "15", "Subsection": "d", "role": "http://www.xbrl.org/2003/role/presentationRef" } }, "version": "2.2" } ZIP 15 0001104659-23-055565-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-23-055565-xbrl.zip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end