Ryman Hospitality Properties
30 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
U.S. government group business
earns fromnamed as a riskthe level of governmental group business, which has decreased at times in the past due to uncertainty surrounding the U.S. government budget;Risk factors (Item 1A)
Partners and platforms
Marriott International
depends on · substantially all our Hospitality segment revenuenamed as a riskThe operation and management of our current hotel properties, the operation of which generates substantially all our Hospitality segment revenue, is concentrated in Marriott.Risk factors (Item 1A)
Atairos Group, Inc.
approximate 70% controlling equity interestnamed as a riskAny disagreement with Atairos or its affiliate may adversely affect our interest in OEG.Risk factors (Item 1A)
Marriott International
depends on · $52.4 millionTotal Marriott base management fees incurred for our applicable assets during 2025, 2024 and 2023 were $52.4 million, $48.0 million and $42.8 million, respectively.Business (Item 1)
City of Simpsonville, South Carolina
a minimum of $6 millionAs part of the agreement, we anticipate that we will commit to invest a minimum of $6 million in capital expenditures to enhance all aspects of the venue.Business (Item 1)
Gaylord Hotels brand
depends onnamed as a riskFurther, Marriott owns the Gaylord Hotels and JW Marriott brands and trademarks, and a failure on their part to maintain quality standards, including at any future projects that we do not own an interest in, could harm the brands and damage our business.Risk factors (Item 1A)
NBCUniversal Media, LLC
Further, in 2022, we completed a strategic transaction to sell a minority interest in OEG to an affiliate of Atairos Group, Inc. (“Atairos”) and its strategic partner NBCUniversal Media, LLC, who we believe will continue to help us expand the distribution of our OEG brands.Business (Item 1)
Sirius/XM Radio
Each week, the Grand Ole Opry is broadcast live to millions of country lifestyle consumers on radio via WSM-AM and Sirius/XM Radio and streamed on the Internet.Business (Item 1)
Universal Orlando Resort
operates inWe are currently renovating a location in Las Vegas, Nevada for an additional Category 10 on the Las Vegas strip that we anticipate to open in late 2026, and we recently announced the development of a third location located at Universal Orlando Resort’s CityWalk anticipated to open in late 2027.Business (Item 1)
Other companies
Group meetings and convention sector
concentrated innamed as a riskOur primary business is hotel-related, and our current hotel properties, the operation of which generates substantially all our Hospitality segment revenue, are concentrated in the group-oriented meetings sector of the hospitality industry.Risk factors (Item 1A)
Competitors
Gaylord Pacific Resort & Convention Center
competes withnamed as a riskthe opening of other new hotels could impact the group convention business at our current hotel properties, including the May 2025 opening of Gaylord Pacific, which we do not own;Risk factors (Item 1A)
Marriott Orlando World Center
competes withnamed as a riskFor example, Marriott and its affiliates own, have invested in, operate, and have provided credit support or operating guarantees to hotels that compete or will compete with our current hotel properties, including the Marriott Orlando World Center, which competes with Gaylord Palms, the Washington D.C. Marriott Marquis, which competes with Gaylord National, and the Gaylord Pacific Resort & Convention Center (“Gaylord Pacific”), which opened in May 2025, but is not owned by us.Risk factors (Item 1A)
Washington D.C. Marriott Marquis
competes withnamed as a riskFor example, Marriott and its affiliates own, have invested in, operate, and have provided credit support or operating guarantees to hotels that compete or will compete with our current hotel properties, including the Marriott Orlando World Center, which competes with Gaylord Palms, the Washington D.C. Marriott Marquis, which competes with Gaylord National, and the Gaylord Pacific Resort & Convention Center (“Gaylord Pacific”), which opened in May 2025, but is not owned by us.Risk factors (Item 1A)
Municipal convention centers
competes withnamed as a riskOur hotels also compete against large municipal convention centers, including those in Orlando, Las Vegas, Chicago, Atlanta, Dallas, Nashville, Washington, D.C., Denver, Phoenix and San Antonio.Business (Item 1)
Places
Nashville, Tennessee
concentrated in · 2,888named as a riskthe desirability and perceived attractiveness of the Nashville, Tennessee; Orlando, Florida; Dallas, Texas; San Antonio, Texas; Washington D.C.; Denver, Colorado; and Phoenix, Arizona areas as tourist and convention destinations;Risk factors (Item 1A)
Also named by AB
Gaylord Opryland Resort & Convention Center
operates in · nearly $225 millionOur ongoing plans for a nearly $225 million multi-phase capital improvement plan include the expansion of approximately 108,000 square feet of premium, carpeted meeting space; the construction of a sports bar, event lawn and pavilion; and the renovation of multiple ballrooms and pre-function space.Business (Item 1)
Orlando, Florida
concentrated innamed as a riskGaylord Palms Resort & Convention Center — Kissimmee, Florida.Business (Item 1)
Phoenix, Arizona
operates innamed as a riskPhoenix, Arizona is a new market for us, and our relative unfamiliarity with the market may result in our having to devote additional time and expense to gain familiarity with the market and effectively manage this asset.Risk factors (Item 1A)
Dallas, Texas
concentrated innamed as a riskGaylord Texan Resort & Convention Center — Grapevine, Texas.Business (Item 1)
Washington D.C.
concentrated innamed as a riskGaylord National Resort & Convention Center — National Harbor, Maryland.Business (Item 1)
Also named by GHC
Denver, Colorado
concentrated innamed as a riskGaylord Rockies Resort & Convention Center — Aurora, Colorado.Business (Item 1)
Also named by RJF
San Antonio, Texas
concentrated innamed as a riskJW Marriott San Antonio Hill Country Resort & Spa — San Antonio, Texas.Business (Item 1)
Also named by GMED
Hazards
Cumberland River flooding
operates innamed as a riskGaylord Opryland, which is located adjacent to the Cumberland River and is protected by levees built to sustain a 100-year flood, suffered flood damage on May 3, 2010 as the river rose to levels that over-topped the levees.Risk factors (Item 1A)
Commodities and inputs
SOFR
exposed to its price · $289.9 millionnamed as a riskIf SOFR were to increase by 100 basis points, our annual interest cost on the $289.9 million in borrowings outstanding at December 31, 2025 would increase by approximately $2.9 million.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
Regulators
Federal Communications Commission (FCC)
subject toWSM-AM’s current radio station license will expire in August 2028; however, we are not aware of any reason why WSM-AM’s radio station license should not be renewed.Business (Item 1)
Also named by AIOT, AMT, ANET, ASTS, CCI, CMCSA, DIS, ECHO and 26 more
Laws and programs
REIT qualification (Internal Revenue Code)
subject to · at least 90% of our REIT taxable incomenamed as a riskIf we fail to remain qualified as a REIT, we would be subject to tax at corporate income tax rates and would not be able to deduct distributions to stockholders when computing our taxable income.Risk factors (Item 1A)
Also named by ABR, AMT, CCI, DLR, ENSG, FPI, KIM, LAMR and 6 more
REIT TRS asset limit
subject to · twenty-five percent (25%)named as a riskUnder the Code, beginning in 2026, no more than twenty-five percent (25%) of the value of the assets of a REIT may be represented by securities of one or more TRSs and other non-qualifying assets.Risk factors (Item 1A)
OEG Term Loan
exposed to its price · $200.3 millionnamed as a riskIf Adjusted Term SOFR were to increase by 100 basis points, our annual interest cost on the $200.3 million in borrowings outstanding under the OEG Term Loan that are not hedged at December 31, 2025 would increase by approximately $2.0 million.Market risk (Item 7A)
Americans with Disabilities Act
subject tonamed as a riskCompliance with the ADA’s requirements could require removal of access barriers, and non-compliance could result in the U.S. government imposing fines or in private litigants winning damages.Risk factors (Item 1A)
Also named by AMT, CMG, DRI, ELS, HHH, HLT, LLYVA, LYV and 3 more