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Ryman Hospitality Properties posted a 7.7% year-on-year rise in revenue for the third quarter, reaching USD 592.5 million, surpassing analyst estimates of USD 574.3 million. The growth was driven by a 7.2% increase in hospitality segment revenue, which climbed to USD 500.9 million. However, net income declined 43.8% to USD 33.9 million due to higher expenses and construction-related disruptions. The company narrowed its full-year 2025 outlook, lowering midpoints for operating income and Adjusted EBITDAre, though it expects group-rooms revenue for 2026 to be up nearly 8%.
Ryman Hospitality Properties reported a strong third-quarter performance with consolidated revenue of USD 592.46 million, up 7.7% from the same period last year. The figure exceeded market expectations of about USD 574.34 million. The company credited this growth to continued momentum in its Hospitality segment, which recorded USD 500.9 million in revenue, marking a 7.2% increase over the previous year. Advertisement
Despite the top-line improvement, the company's net income dropped 43.8% year-on-year to USD 33.96 million. Operating income came in at USD 88.61 million, while Adjusted Funds From Operations (FFO) reached USD 106.35 million. The decline in profitability was attributed to higher operating costs and temporary business impacts from ongoing construction work at certain properties.
President and CEO Mark Fioravanti said the quarter's results reflected a solid recovery in leisure and group travel, though planning delays and broader macroeconomic uncertainty weighed on meeting and event bookings. He added that recently completed capital projects particularly upgrades at the Gaylord Rockies Resort & Convention Center performed above expectations and would support long-term growth once construction activity eases.
Ryman Hospitality also adjusted its full-year 2025 financial guidance, lowering midpoints for both operating income and Adjusted EBITDAre to reflect temporary disruptions and the cost pressures from renovation works. The company expects construction at select properties to continue affecting revenue per available room (RevPAR) and operating margins into the next year.
On a more positive note, management reported that group-rooms revenue for 2026 is pacing nearly 8% higher compared to 2025 levels, suggesting sustained demand in advance bookings. The company views this as a sign of confidence among corporate clients and group travel planners for the year ahead.
Analyst sentiment remains largely positive, with 12 analysts rating the stock as 'buy' or 'strong buy,' and only one suggesting 'hold.' The median 12-month price target on Wall Street stands at USD 113.50, about 23% above the recent closing price of USD 86.91, reflecting continued optimism about the company's longer-term prospects.
Source Reuters
5th Jun, 2025
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