Ryman Hospitality Properties, Inc. (NYSE: RHP)

Ryman specializes in group oriented, destination hotel assets in urban and resort markets, operating as a self advised and self administered real estate investment trust that owns and leases upscale meetings focused resorts and also owns entertainment and media assets.

Ryman generates revenue primarily from hotel room rentals, food and beverage sales, meeting and event space rentals, and ancillary services at its Gaylord Hotels and JW Marriott properties, as well as from ticket sales, sponsorships, broadcasting, and venue management across its entertainment assets, serving corporate groups, convention attendees, leisure travelers, and live event audiences.

The company operates through the following segments: Hospitality, Entertainment, and Corporate and Other.

• Hospitality: This segment includes the Gaylord Hotels resorts, the JW Marriott resorts, the Inn at Opryland, and the AC Hotel, providing lodging, food and beverage, meeting and convention space, and recreational amenities for group and transient guests.

• Entertainment: This segment comprises the Opry Entertainment Group assets such as the Grand Ole Opry, the Ryman Auditorium, WSM AM radio, Ole Red venues, Category 10 venues, Block 21 mixed use complex, Southern Entertainment festival production, and management of the Ascend Amphitheater and the CCNB Amphitheatre, delivering live music, broadcasting, and event experiences.

• Corporate and Other: This segment consists of corporate level expenses including general and administrative costs, information technology, human resources, accounting, and other overhead not allocated to the operating segments.

Ryman holds a leading position among U. S. convention hotels, competing with properties such as the Orlando World Center Marriott, Hilton Anatole, and Walt Disney World Dolphin, while its competitive advantages stem from large contiguous meeting spaces, strong brand recognition of the Grand Ole Opry, and management agreements with Marriott that provide access to a global sales force and loyalty program.

The company serves corporate groups seeking meeting and convention facilities, leisure travelers attending its resort properties, and audiences for live music and entertainment events at its venues.