Ryman Hospitality Reports Q4 2016 Net Income Increase of 24% to $48.1 Million and a 43% Rise to $159.4 Million for the Year Over 2015 Periods
February 27, 2017 12:35pm
– Net Income Increased 24 Percent to $48.1 Million for the Quarter and 43 Percent to $159.4 Million for the Year over 2015 periods –
– Reports Full Year Consolidated Adjusted EBITDA of $350.2 Million, an Increase of 7.7 Percent Over Full Year 2016 –
– Achieved Record Gross Advanced Group Bookings in 2016, Surpassing 2015 Previous Record by 9.9 Percent –
– Declares First Quarter 2017 Dividend of $0.80 Per Share; Intends to Pay $3.20 Per Share Annualized Dividend in 2017, a 7 Percent Increase Over Full Year 2016 –
– Issues Full Year 2017 Guidance –
NASHVILLE, Tenn., Feb. 28, 2017 -- Ryman Hospitality Properties, Inc. (NYSE:RHP), a lodging real estate investment trust ("REIT") specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the fourth quarter and full year ended December 31, 2016.
Colin Reed, Chairman and Chief Executive Officer of Ryman Hospitality Properties, said, “Our businesses delivered fourth quarter 2016 results that were in line with our expectations going into the quarter and contributed to another record year for our company from a total revenue, net income, Adjusted EBITDA, and hospitality gross group bookings perspective. Full year 2016 results for these measures exceeded last year’s performance by 5.2 percent, 42.9 percent, 7.7 percent, and 9.9 percent, respectively.
We closed fourth quarter 2016 with gross group bookings results that nearly matched our record Q4 2015 production. This strong close solidified 2016 as the best gross room night production year in brand history. We began 2017 with 6.4 million gross room nights on the books for all future years, which, in addition to being a new high-water mark for the brand, is further indication that the group market is alive and well. We remain confident in our market position and the outlook for this segment. While overall industry supply according to STR is expected to grow by a modest 2.0 percent and 2.2 percent in 2017 and 2018, respectively, the demand for hotels of our size and group-oriented nature is robust with little new competitive supply in the pipeline for the foreseeable future.”
For the Company’s definitions of Revenue Per Available Room (RevPAR), Total Revenue Per Available Room (Total RevPAR), Operating Income Margin, Net Income Margin, Adjusted EBITDA, Adjusted EBITDA Margin, FFO, and Adjusted FFO, as well as a reconciliation of the non-GAAP financial measure Adjusted EBITDA to Net Income and a reconciliation of the non-GAAP financial measure Adjusted FFO to Net Income, see “Calculation of RevPAR and Total RevPAR,” “Calculation of GAAP Margin Figures,” “Non-GAAP Financial Measures,” “Adjusted EBITDA Definition,” “Adjusted EBITDA Margin Definition,” “Adjusted FFO Definition” and “Supplemental Financial Results” below. Adjusted FFO for 2015 presented herein reflects the Adjusted FFO definition used for 2016.
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Tags: ryman hospitality properties,
q4 2016 results
Ryman Hospitality Properties, Inc. (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 7,811 rooms that are managed by lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat , The Inn at Opryland , a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington , DC at National Harbor , a 192-room hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium , the storied former home of the Grand Ole Opry located in downtown Nashville ; and 650 AM WSM, the Opry’s radio home. For additional information about Ryman Hospitality Properties , visit www.rymanhp.com.
Contact: Investor Relations: Todd Siefert, Vice President of Corporate Finance & Treasurer
Q2 2017 Financial Reports Round Up - Part 5: Marriott, IHG, Ryman, Xenia, Belmond
Ryman Hospitality Properties Reports Q1 2017 Net Income Increased 23.8% to $32.6 Million Compared to Q1 2016
Park Hotels & Resorts Inc. Reports Q4 2016 Net Income of $17 Million, a Decrease of 75.4%; Pro-forma RevPAR Down 0.8%
Hospitality Properties Trust Reports Fourth Quarter Net Income of $58 Million Compared to a Net Loss of $24.7 Million in the Year Ago Quarter
Xenia Hotels & Resorts Reports Q4 2016 Net Income of $48.8 Million, Down from $61.8 Million; Same-Property RevPAR Decreased 4.2% Compared to Q4 2015
Extended Stay America Reports Q4 2016 Net Income of $30.1 Million, Down from $132.1 Million; RevPAR Up 4.1% for the Quarter
Belmond Ltd. Reports 2016 Net Earnings of $36.3 Million for the Year, up $20 Million from 2015; RevPAR Down 7% in Q4 but up 3% for the Full Year
Ashford Hospitality Trust Reports Q4 2016 Net Loss of $57.3 Million; Comparable RevPAR for all Hotels not Under Renovation Increased 3.2% During the Quarter
Summit Hotel Properties Reports Q4 2016 Net Income Fell to $3.3 Million, Compared with $80 Million in 2015; Pro Forma RevPAR Increased 1% in Q4
Pebblebrook Hotel Trust Reports 2016 Yearly Net Income of $74 Million, Down from $95 Million; Yearly RevPAR Grew 2.4%
FelCor Reports Q4 2016 Net Loss of $6.2 Million versus $10.4 Million in Q4 2015; Same-Store RevPAR Decreased 2.0%
Chatham Lodging Trust Reports Q4 Net Income Decline of $1.8 Million to $2.7 Million; Portfolio RevPAR Down Slightly at 0.8%
RLJ Lodging Trust Reports Q4 & Full Year 2016 Results: Q4 Net Income Increased 2.0% to $75.8 Million; Pro Forma RevPAR Down 0.3%
Chesapeake Lodging Trust Reports Decrease in Q4 Net Income and RevPAR Growth
LaSalle Hotel Properties Reports Q4 2016 Net Income of $21.3 Million, Down from $23.5 Million in Q4 2015; RevPAR Up 2.5%
Hersha Hospitality Trust Reports Full-Year and Q4 2016 Results: FY RevPAR Grew 2.1% with a Q4 Rise of 0.3%
AccorHotels Reports Strong Earnings Growth in 2016; Outlines New Platform on AccorInvest
Host Hotels & Resorts, Inc. Reports RevPAR Increase of 1.7% in Q4 2016; Net Income Dropped $37 Million for the Quarter
DiamondRock Hospitality Reports 2016 Q4 & Full Year Results; Q4 Net Income was $23.9 million, Down $1.8 Million from the Year Ago Quarter
Sunstone Hotel Investors Reports Q4 2016 Net Income Decrease of 85.6% to $34.3 Million; Total Portfolio Hotel RevPAR Increased 1.6%
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