Ryman Hospitality Properties, Inc. (reit) · NYSE:RHP
Ryman Hospitality Properties, Inc. (reit) — Ryman Hospitality Properties — Investor Presentation (May 2024)
19 slides from Ryman Hospitality Properties, Inc. (reit)'s investor presentation, May 6, 2024
Slide 1: Ryman Hospitality Properties, Inc. Investor Presentation
RYMAN HOSPITALITY PROPERTIES, INC. INVESTOR PRESENTATION MAY 6, 2024 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements & Other Disclaimers
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS & OTHER DISCLAIMERS This presentation contains “forward-looking statements” of Ryman Hospitality Properties, Inc. (“Ryman” or the “Company”) as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by t
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Differentiated lodging REIT with a tangible path to sustainable organic growth and a proven track record of delivering superior shareholder returns PROVEN Long-tenured management team built Gaylord Hotels brand and led REIT conversion in 2013 MANAGEMENT TEAM Operational kno
Slide 4: Recent Developments
RECENT DEVELOPMENTS RATE TAILWIND Record Q1 same-store Hospitality ADR of $245, up 3% over Q1 2023 RESILIENT OUT-OF- Second-highest same-store Hospitality banquet and AV revenue of any quarter, trailing only Q1 ROOM SPEND 2023, with strong contribution per group room night JW MARRIOTT HILL In-
Slide 5: Continued Momentum in New Bookings Production
CONTINUED MOMENTUM IN NEW BOOKINGS PRODUCTION SAME-STORE ROOMS REVENUE ON THE BOOKS1 (DOLLARS IN MILLIONS) +10% VS. PRE-PANDEMIC +23% VS. PRE-PANDEMIC $391 $355 $385 +16% $339 VS. PRE-PANDEMIC $307 $277 $267 +8% $257 $230 VS. PRE-PANDEMIC +22% VS. PRE-PANDEMIC $171 $170 $158 $130 $107 $99 T+1 T+2 T+
Slide 6: 2024 Guidance, Inclusive of Disruption from Planned Capital Projects
2024 GUIDANCE, INCLUSIVE OF DISRUPTION FROM PLANNED CAPITAL PROJECTS1 CAPITAL EXPENDITURES & DISRUPTION ESTIMATES +3.5-5.5% 2024 Guidance In millions, except per-share figures Low High Midpoint 2 SAME-STORE HOSPITALITY:2 SAME-STORE REVPAR Same-store Hospitality $434.5 $450.5 $442.5 JW Marriott Hill
Slide 7: Quality Balance Sheet Supports Growth Priorities
QUALITY BALANCE SHEET SUPPORTS GROWTH PRIORITIES TOTAL AVAILABLE LIQUIDITY1 MATURITY LADDER2 KEY METRICS (AS OF MARCH 31, 2024) (DOLLARS IN MILLIONS) (AS OF MARCH 31, 2024) $65 $7003 5.5 WEIGHTED AVERAGE MATURITY (YEARS) $1.2 $896 $296 $1,000 BILLION $700 $600 85% FIXED RATE DEBT4 (% OF TOTAL DEBT)
Slide 8: Highlights of Key 2024 Projects
HIGHLIGHTS OF KEY 2024 PROJECTS 8
Slide 9: Gaylord Rockies Grand Lodge – Phase I Now Open
GAYLORD ROCKIES GRAND LODGE – PHASE I NOW OPEN GRAND LODGE EMBERS LOBBY BAR 9
Slide 10: Gaylord Rockies Grand Lodge – Phase I Now Open
GAYLORD ROCKIES GRAND LODGE – PHASE I NOW OPEN THE FORTUNATE PROSPECTOR ENGLISH PUB 10
Slide 11: Gaylord Rockies Group Pavilion – Opening in Q2 2024
GAYLORD ROCKIES GROUP PAVILION – OPENING IN Q2 2024 GROUP PAVILION (INTERIOR VIEW) COMING IN JUNE 2024 11 PROGRESS AS OF APRIL 2024
Slide 12: Gaylord Palms Lobby & Rooms Renovation – To Be Completed by Year-End
GAYLORD PALMS LOBBY & ROOMS RENOVATION – TO BE COMPLETED BY YEAR-END BEFORE BEFORE AFTER 12
Slide 13: Ole Red Las Vegas – Opened in Q1 2024
OLE RED LAS VEGAS – OPENED IN Q1 2024 PRIME LOCATION AT FLAMINGO AND LAS VEGAS BOULEVARD …OVERLOOKING BELLAGIO FOUNTAINS 13
Slide 14: Category 10 – Opening in Q3 2024
CATEGORY 10 – OPENING IN Q3 2024 THE EYE, NEW 7,000 S.F. ROOFTOP FIRST FLOOR HONKY TONK 14 1,500-PERSON CAPACITY TICKETED VENUE
Slide 15: Category 10 – Opening in Q3 2024
CATEGORY 10 – OPENING IN Q3 2024 SPORTSBOOK RENDERING PROGRESS AS OF APRIL 2024 TICKETED VENUE AS OF APRIL 2024 15
Slide 16: Appendix
APPENDIX 16
Slide 17: Non-GAAP Definitions
NON-GAAP DEFINITIONS Adjusted EBITDAre The Company calculates EBITDAre, which is defined by the National Association of Real Estate Investment Trusts (“NAREIT”) in its September 2017 white paper as Net Income (calculated in accordance with GAAP) plus interest expense, income tax expense, depreciatio
Slide 18: Non-GAAP Definitions
NON-GAAP DEFINITIONS FFO and AFFO The Company calculates FFO (Funds from Operations), which definition is clarified by NAREIT in its December 2018 white paper, as Net Income (calculated in accordance with GAAP) excluding depreciation and amortization (excluding amortization of deferred financing cos
Slide 19: Reconciliations – 2024 Guidance
RECONCILIATIONS – 2024 GUIDANCE Full Year 2024 Guidance Full Year 2024 Guidance In 000's Low High Midpoint In 000's, except for per-share metrics Low High Midpoint Ryman Hospitality Properties, Inc. Entertainment Net income $ 259,000 $ 280,000 $ 269,500 Operating income $ 65,500 $ 71,500 $ 68,500 Pr
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