Ryman Hospitality Reports Strong Q4, Positive 2026 Outlook, and Enhanced Financial Flexibility

summarizeSummary

Ryman Hospitality reported strong Q4 2025 results, provided optimistic 2026 guidance, and improved its financial position through a credit facility refinancing and rating upgrade, despite a slight full-year 2025 Adjusted FFO per share decline.

check_boxKey Events

• Strong Fourth Quarter 2025 Financial Results

  The company achieved record consolidated revenue of $737.8 million, a 13.9% increase year-over-year, and consolidated Adjusted EBITDAre of $224.3 million, up 18.9% from Q4 2024. Adjusted FFO per diluted share/unit for Q4 2025 increased by 10.7% to $2.38.

• Positive Full Year 2025 Performance

  Full year 2025 consolidated revenue reached a record $2.6 billion, up 10.2% from 2024, with Adjusted EBITDAre increasing 4.9% to $794.7 million. Full year Adjusted FFO per diluted share/unit was $8.46, a slight decrease from $8.54 in 2024, impacted by share dilution and prior year tax refunds.

• Optimistic 2026 Financial Guidance

  For full year 2026, the company projects same-store Hospitality RevPAR growth of 1.50% to 3.50% (midpoint 2.50%) and consolidated Adjusted EBITDAre between $846.0 million and $895.0 million (midpoint $870.5 million). Adjusted FFO per diluted share/unit is guided to be $8.50 to $9.00 (midpoint $8.75).

• Enhanced Financial Flexibility and Credit Rating Upgrade

  Subsequent to quarter-end, Ryman refinanced its corporate revolving credit facility, increasing its size to $850 million and extending its maturity to January 2030. Fitch also upgraded the company's corporate family rating to 'BB', resulting in a 25-basis-point interest rate reduction on its Term Loan B.

auto_awesomeAnalysis

Ryman Hospitality Properties, Inc. reported robust fourth-quarter 2025 results, with significant increases in consolidated revenue and Adjusted EBITDAre, driven by strong performance in both its Hospitality and Entertainment segments. While full-year 2025 Adjusted FFO per diluted share/unit saw a slight decrease compared to 2024, primarily due to share dilution and prior year tax refunds, the company's Q4 performance and its 2026 guidance project renewed growth. The midpoint of the 2026 Adjusted FFO per diluted share/unit guidance indicates a positive trajectory. Furthermore, the successful refinancing of its revolving credit facility, increasing its size and extending maturity, coupled with a credit rating upgrade from Fitch, significantly enhances the company's financial flexibility and reduces borrowing costs. Strategic growth initiatives within the Opry Entertainment Group, including new venue developments and management contracts, underscore the company's commitment to expansion. This positive operational and financial news comes as the stock is trading near its 52-week high, reinforcing investor confidence in its continued performance and strategic direction.