Ryman Hospitality Boosts 2026 Outlook on Strong Q1 Performance
Event summary
- Ryman Hospitality reported Q1 2026 revenue of $664.6M, up 13.2% YoY, with record Adjusted EBITDAre of $219.3M.
- Booked over 460,000 same-store Hospitality Gross Definite Room Nights with a 6.7% increase in average daily rate.
- Completed a $700M private placement of senior unsecured notes due 2034 to refinance existing debt.
- Raised full-year 2026 guidance across key metrics including RevPAR growth and Adjusted EBITDAre.
The big picture
Ryman's strong Q1 performance reflects the resilience of its group-oriented hospitality assets and effective capital allocation strategy. The company's ability to raise guidance suggests confidence in maintaining operational momentum despite geopolitical uncertainties. The planned expansion of Ole Red locations indicates a strategic focus on growing its entertainment platform alongside core hospitality assets.
What we're watching
- Group Demand Dynamics
- How sustained group business momentum will impact future bookings and pricing power.
- Capital Deployment
- The pace at which Ryman will invest in property renovations and new developments.
- Entertainment Segment Performance
- Whether OEG can stabilize and grow revenue amid challenging comparisons.
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