Key Developments: Ryman Hospitality Properties Inc (RHP.N)

RHP.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ryman Hospitality Properties Inc Lowers FY 2013 Guidance; Lowers FY 2013 Hospitality RevPAR Guidance
Tuesday, 4 Jun 2013 08:30am EDT 

Ryman Hospitality Properties Inc updated fiscal 2013 guidance and expects Hospitality RevPAR -1.0% 2.0% compared to prior range of 3.0%-6.0% , adjusted EBITDA in the range of $258.0-$279.0 million compare to prior range of $281.0-$297.0 million, Adjusted FFO per share (excluding REIT conversion costs) in the range of $3.81-$ 4.17 compared to prior range of $4.09-$4.34 and Adjusted FFO per share after REIT conversion costs in the range of $3.43-$3.82 compared to prior range of $3.72-$3.99. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $268 million and FFO of $3.95 for fiscal 2013.  Full Article

Ryman Hospitality Properties Inc Reiterates FY 2013 Earnings Guidance; Reiterates FY 2013 Hospitality Total RevPAR Guidance
Tuesday, 7 May 2013 08:30am EDT 

Ryman Hospitality Properties Inc announced that the Company is reiterating its fiscal 2013 Guidance for Hospitality RevPAR, Hospitality Total RevPAR, Adjusted EBITDA and Adjusted FFO, as originally announced on February 15, 2013 and expects Hospitality RevPAR to be in the range of 3.0%-6.0%, Hospitality Total RevPAR to be in the range of 3.0%-6.0%, adjusted EBITDA to be in the range of $281.0 million to $297.0 million and adjusted FFO (before REIT conversion costs) to be in the range of $4.09 to $4.34 and adjusted FFO (after REIT conversion costs) to be in the range of $3.72 to $3.99. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $281.3 million, adjusted FFO of $3.93 for fiscal 2013.  Full Article

Ryman Hospitality Properties Inc Completes Offering of $350 Million of 5.00% Senior Notes Due 2021
Wednesday, 3 Apr 2013 04:59pm EDT 

Ryman Hospitality Properties Inc announced that certain of its subsidiaries completed the previously announced private placement of $350 million aggregate principal amount of 5.00% senior notes due 2021 (the notes). The notes are senior unsecured obligations of the Company`s issuing subsidiaries and are guaranteed by the Company and all of the Company`s subsidiaries that guarantee its senior credit facility. Aggregate net proceeds from the sale of the notes are expected to be approximately $342 million, after deducting the initial purchasers` discounts and commissions and estimated offering expenses. The Company intends to use substantially all of the net proceeds of the offering to repay amounts outstanding under its revolving credit facility, and any balance will be used for general corporate purposes, which may include the repayment of other indebtedness.  Full Article

Ryman Hospitality Properties Inc Announces Pricing Of $350 Million Of 5% Senior Notes Due 2021
Wednesday, 27 Mar 2013 06:09pm EDT 

Ryman Hospitality Properties Inc announced that certain of its subsidiaries priced the private placement of $350 million aggregate principal amount of 5% senior notes due 2021, increased from the $300 million proposed offering previously announced. The notes will be senior unsecured obligations of the Company`s issuing subsidiaries and will be guaranteed by the Company and all of the Company`s subsidiaries that guarantee its senior credit facility. Subject to customary closing conditions, the issuers expect the private placement of the notes to close on April 3, 2013. The aggregate net proceeds from the sale of the notes are expected to be approximately $342 million, after deducting the initial purchasers` discounts and commissions and estimated offering expenses. The Company intends to use substantially all of the net proceeds of the offering to repay amounts outstanding under its revolving credit facility, and any balance will be used for general corporate purposes, which may include the repayment of other indebtedness.  Full Article

Ryman Hospitality Properties Inc Declares First Quarter Dividend
Friday, 15 Feb 2013 08:30am EST 

Ryman Hospitality Properties Inc announced that the Company declared its first quarterly cash dividend of $0.50 per share of common stock payable on April 12, 2013 to stockholders of record on March 28, 2013.  Full Article

Ryman Hospitality Properties Inc Issues FY 2013 Earnings Guidance Above Analysts' Estimates
Friday, 15 Feb 2013 08:30am EST 

Ryman Hospitality Properties Inc announced that for fiscal 2013, it expects adjusted EBITDA to be in the range of $281.0 million to $297.0 million and adjusted FFO (before REIT conversion costs) to be in the range of $4.03 to $4.27 and adjusted FFO (after REIT conversion costs) to be in the range of $3.78 to $4.04. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $278.0 million, adjusted FFO of $3.61 for fiscal 2013.  Full Article

Ryman Hospitality Properties Inc Announces $100 Million Share Repurchase Program
Monday, 17 Dec 2012 08:30am EST 

Ryman Hospitality Properties Inc announced that its Board of Directors has authorized a share repurchase program for up to $100 million of the Company's common stock using cash on hand and borrowings under its revolving credit line. The repurchases are intended to be implemented through open market transactions on U.S. exchanges or in privately negotiated transactions, in accordance with applicable securities laws, and any market purchases will be made during open trading window periods or pursuant to any applicable Rule 10b5-1 trading plans. The timing, prices, and sizes of repurchases will depend upon prevailing market prices, general economic and market conditions and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of stock.  Full Article

Ryman Hospitality Properties Inc Lowers High End Of Prior FY 2012 EBIT Guidance To A Range In Line With Analysts' Estimates; Lowers High End Of Prior FY 2012 EBITDA Guidance To A Range Below Estimates
Tuesday, 6 Nov 2012 08:30am EST 

Ryman Hospitality Properties Inc announced that for fiscal 2012, it expects EBIT to be $104,950,000-$111,450,000 and EBITDA to be $224,850-$233,850. According to I/B/E/S Estimates, analysts are expecting the Company to report EBIT of $107.32 million and EBITDA of $234.14 million for fiscal 2012.  Full Article

Ryman Hospitality Properties Inc Declares Special Dividend
Friday, 2 Nov 2012 05:01pm EDT 

Ryman Hospitality Properties Inc announced that its board of directors declared a special dividend in the amount of $6.84 per share of common stock, or an aggregate of $309.7 million based on shares outstanding, in connection with Ryman Hospitality Properties` plan to qualify as a real estate investment trust (REIT) for federal income tax purposes effective as of January 1, 2013. The special dividend is part of the Company`s plan to distribute its previously undistributed accumulated earnings and profits attributable to tax periods ending prior to January 1, 2013. The special dividend is payable to stockholders of record as of November 13, 2012, resulting in an ex-dividend date of November 8, 2012 under New York Stock Exchange guidelines. Ryman expects to pay the special dividend on December 21, 2012.  Full Article

Gaylord Entertainment Co Completes Sale Of Gaylord Hotels Brand And Hotel Management Rights To Marriott International
Monday, 1 Oct 2012 08:51am EDT 

Gaylord Entertainment Company announced that it has completed the sale of the Gaylord Hotels brand and the rights to manage its four hotels to Marriott International, Inc. for $210 million. In addition to assuming the management responsibilities for Gaylord’s four hotels, Marriott also assumed the management responsibilities for local Nashville attractions such as the General Jackson Showboat, Gaylord Springs Golf Links and Wildhorse Saloon . Marriott is expected to assume management duties for the Radisson Hotel (to be renamed the Inn at Opryland) on December 1, 2012.  Full Article

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