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Ryman
(NYSE:RHP)
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Rating:61Neutral
Price Target:
$129.00
â–¼(-0.26% Downside)
Action:Reiterated
Date:09/16/26
The score is primarily constrained by high leverage and weaker recent free-cash-flow momentum despite strong current profitability. Earnings call signals are a clear positive (raised guidance and robust forward group pricing/bookings), but near-term technicals are weak (below 20/50-day averages with negative MACD), and valuation is only moderately supported by the dividend given the higher P/E.
Positive Factors
Forward Group Demand
Strong forward group bookings and record ADR indicate durable demand for Ryman’s convention-oriented resorts. Higher room pricing and revenue already on the books improve visibility into future hotel performance and support sustained growth in rooms, catering, and event-related spending.
Negative Factors
High Leverage
Ryman’s high leverage limits financial flexibility in a cyclical lodging and meeting-driven business. A large debt burden can increase financing costs and constrain the company’s ability to absorb weaker hotel demand, fund opportunities, or maintain distributions during a downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Forward Group Demand
Strong forward group bookings and record ADR indicate durable demand for Ryman’s convention-oriented resorts. Higher room pricing and revenue already on the books improve visibility into future hotel performance and support sustained growth in rooms, catering, and event-related spending.
Read all positive factors
Ryman Key Performance Indicators (KPIs)
Ryman (RHP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.14B
Dividend Yield4%
Average Volume (3M)557.92K
Price to Earnings (P/E)27.8
Beta (1Y)0.54
Revenue Growth12.25%
EPS Growth-0.92%
CountryUS
Employees1,819
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)4.32
Shares Outstanding68,219,290
10 Day Avg. Volume524,797
30 Day Avg. Volume557,923
Financial Highlights & Ratios
PEG Ratio-1.82
Price to Book (P/B)7.80
Price to Sales (P/S)2.27
P/FCF Ratio25.17
Enterprise Value/Market Cap1.60
Enterprise Value/Revenue4.73
Enterprise Value/Gross Profit29.60
Enterprise Value/Ebitda15.26
Forecast
1Y Price Target
$138.82Price Target Upside7.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)4.16
Revenue Forecast (FY)$2.90B
Ryman Business Overview & Revenue Model
Company Description
Ryman Hospitality Properties, Inc. (NYSE: RHP) operates as a prominent real estate investment trust (REIT) in the lodging and hospitality sectors, focusing on high-end convention center properties and a diverse portfolio of country music entertain...
How the Company Makes Money
Ryman primarily makes money through (1) hospitality revenues generated by its owned hotels and resorts and (2) earnings from its investment in entertainment-related operations.
1) Hospitality (owned hotels and resorts): Ryman owns large conventio...
Ryman Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call highlighted multiple operational and financial positives: RevPAR and adjusted EBITDAre beats, strong group ADR and catering growth, record property-level performance, robust forward bookings and ADR on the books, notable JW portfolio and entertainment momentum, solid liquidity and disciplined cost management. The main negatives were manageable: macroeconomic uncertainty (rates/inflation), limited visibility into certain revenue streams (ICE, Marriott ITR impacts), an ongoing strategic review of OEG that introduces some uncertainty, and an accelerated capex cadence that increases near-term spend. Overall, the positive operational beats, strong booking and pricing trends, and record entertainment results significantly outweigh the limited and manageable headwinds.Positive Updates
RevPAR and Revenue Beats
Same-store RevPAR and total RevPAR growth beat expectations by ~2.5 percentage points each in Q2, driving a top-line-led adjusted EBITDAre outperformance of approximately $7 million versus plan.
Negative Updates
Macroeconomic and Rate Uncertainty
Management continues to monitor uncertainty around interest rates and inflation; guidance assumes a relatively stable operating environment, but macro risks remain a potential headwind to future demand.
Read all updates
Q2-2026 Updates
Positive
Negative
RevPAR and Revenue Beats
Same-store RevPAR and total RevPAR growth beat expectations by ~2.5 percentage points each in Q2, driving a top-line-led adjusted EBITDAre outperformance of approximately $7 million versus plan.
Read all positive updates
Company Guidance
The company raised the midpoints of its guidance (a $10 million increase to same‑store hospitality adjusted EBITDAre at the midpoint, and a $1 million increase to JW Desert Ridge) and described an outlook that assumes a relatively stable operating environment: same‑store RevPAR guidance of low‑to‑mid single‑digit growth in Q3 and mid‑single‑digit in Q4, total revenue growth of low‑to‑mid single digits in each remaining quarter (with stronger growth in Q3), total RevPAR expected to outpace RevPAR in Q3 while RevPAR outpaces total RevPAR in Q4, Q3 delivering the strongest adjusted EBITDAre margin expansion, and entertainment adjusted EBITDAre skewed to Q4; forward business metrics underpinning the outlook include more than 768,000 same‑store gross group room nights booked (+6.7% YoY) with ADR on those bookings ~ $310 (+8.6% YoY, +2.3% vs prior record), same‑store group rooms revenue on the books up 8.8% as of end‑July (120 bps sequential improvement) with ADR on the books pacing mid‑single digits and group rooms revenue for 2027 up 3.2% (2028 down 50 bps), liquidity of nearly $1.3 billion (unrestricted cash $366M, restricted $32M, revolvers undrawn), net leverage ~4.2x, 2026 capex guidance $400–$500M (≈+$50M at midpoint), operating expense midpoint ~3% and a demonstrated flow‑through of ~46% in Q2 (target ~40%) with average wage rate up ~3.8% YoY.Ryman Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
44
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.74B | 2.58B | 2.34B | 2.16B | 1.81B | 939.37M |
| Gross Profit | 438.60M | 255.86M | 844.30M | 709.01M | 579.75M | 200.70M |
| EBITDA | 850.83M | 774.00M | 725.64M | 670.70M | 530.75M | 155.86M |
| Net Income | 271.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
Balance Sheet | ||||||
| Total Assets | 6.19B | 6.18B | 5.22B | 5.19B | 4.04B | 3.58B |
| Cash, Cash Equivalents and Short-Term Investments | 397.82M | 500.18M | 477.69M | 591.83M | 334.19M | 140.69M |
| Total Debt | 4.13B | 4.29B | 3.51B | 3.51B | 2.99B | 3.05B |
| Total Liabilities | 4.96B | 4.97B | 4.28B | 4.27B | 3.63B | 3.60B |
| Stockholders Equity | 748.32M | 750.15M | 548.98M | 569.15M | 95.28M | -22.23M |
Cash Flow | ||||||
| Free Cash Flow | 274.66M | 232.39M | 168.60M | 350.28M | 330.41M | 89.25M |
| Operating Cash Flow | 691.85M | 590.63M | 576.51M | 557.06M | 419.93M | 111.25M |
| Investing Cash Flow | -413.21M | -1.23B | -410.40M | -1.01B | -189.31M | -289.74M |
| Financing Cash Flow | -331.53M | 567.29M | -290.32M | 711.87M | 50.71M | 261.73M |
Ryman Technical Analysis
Negative
129.33
Price Trends
123.15
Negative
122.24
Negative
108.83
Positive
Market Momentum
-0.76
Negative
44.82
Neutral
38.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHP, the sentiment is Negative. The current price of 129.33 is above the 20-day moving average (MA) of 120.32, above the 50-day MA of 123.15, and above the 200-day MA of 108.83, indicating a neutral trend. The MACD of -0.76 indicates Negative momentum. The RSI at 44.82 is Neutral, neither overbought nor oversold. The STOCH value of 38.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RHP.
Ryman Risk Analysis
Ryman disclosed 50 risk factors in its most recent earnings report. Ryman reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ryman Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.53B | 17.24 | 10.27% | 3.57% | 1.03% | 159.56% | |
70 Outperform | $15.24B | 15.33 | 15.54% | 7.41% | 4.93% | 58.04% | |
66 Neutral | $3.06B | -18.56 | -5.14% | 6.57% | -1.36% | -405.10% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $2.11B | -28.33 | -1.90% | 0.21% | 2.08% | -25.62% | |
61 Neutral | $8.14B | 27.77 | 36.38% | 4.00% | 12.25% | -0.92% | |
60 Neutral | $1.65B | -241.18 | -0.62% | 3.10% | 1.65% | -112.43% |
* Real Estate Sector Average
RHP
Ryman
119.95
37.01
44.61%
DRH
Diamondrock
12.60
5.39
74.68%
HST
Host Hotels & Resorts
22.54
7.89
53.81%
PEB
Pebblebrook Hotel
18.98
8.81
86.59%
XHR
Xenia Hotels & Resorts
18.04
6.02
50.13%
PK
Park Hotels & Resorts
15.21
5.55
57.37%
Ryman Corporate Events
Business Operations and StrategyDividends
Ryman Hospitality declares consistent quarterly cash dividend
Positive
Sep 15, 2026
On September 15, 2026, Ryman Hospitality Properties, Inc. declared a cash dividend of $1.20 per common share, payable on October 15, 2026, to shareholders of record as of September 30, 2026. On the same date, its subsidiary RHP Hotel Properties, L...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Ryman Closes Grande Lakes Orlando Resort Acquisition
Positive
Sep 1, 2026
On September 1, 2026, Ryman Hospitality Properties closed its $1.38 billion acquisition of Grande Lakes Orlando, a 400-plus-acre resort complex in Orlando, Florida that includes a 1,010-room JW Marriott, a 582-room Ritz-Carlton, 320,000 square fee...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Ryman Issues Notes to Fund Orlando Resort Acquisition
Positive
Aug 25, 2026
On August 25, 2026, Ryman Hospitality Properties, Inc. and its subsidiaries issued $700 million of 6.250% senior unsecured notes due 2035 under a new indenture with U.S. Bank Trust Company, National Association as trustee, with guarantees from cer...
Private Placements and FinancingRegulatory Filings and Compliance
Ryman Hospitality completes major common stock offering
Positive
Aug 12, 2026
On August 10, 2026, Ryman Hospitality Properties, Inc. entered into an underwriting agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC for a registered public offering of 5,100,000 shares of its common stock at $117.00 per share, ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Ryman Expands with $1.38 Billion Orlando Resort Acquisition
Positive
Aug 10, 2026
On August 10, 2026, Ryman Hospitality Properties agreed to acquire the fee simple interest in the 409-acre Grande Lakes Orlando Resort from Trinity Investments for approximately $1.38 billion, with closing targeted for the third quarter of 2026. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.