Ryman Hospitality Properties, Inc.

Ryman is a Delaware corporation specializing in group-oriented, destination hotel assets in urban and resort markets. Ryman began operating as a self-advised and self-administered Real Estate Investment Trust (REIT) for federal income tax purposes on January 1, 2013, succeeding Gaylord Entertainment Company ("Gaylord") after a merger on October 1, 2012. As a REIT, Ryman generally avoids federal corporate income taxes on distributed capital gain or ordinary income from its REIT operations, eliminating federal "double taxation." However, its non-REIT operations, including activities of its Taxable REIT Subsidiaries (TRSs) that lease or sublease hotels and businesses within its Entertainment segment, remain subject to federal and state corporate income taxes. Ryman's core holdings include a network of upscale, meetings-focused resorts totaling 11,869 rooms, managed by Marriott under the Gaylord Hotels and JW Marriott brands. The five Gaylord Hotels properties are: the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee; the Gaylord Palms Resort & Convention Center near Orlando, Florida; the Gaylord Texan Resort & Convention Center near Dallas, Texas; the Gaylord National Resort & Convention Center near Washington D.C.; and the Gaylord Rockies Resort & Convention Center near Denver, Colorado.