Ryman Hospitality Q3 revenue beats on group and leisure demand

Overview

• US lodging REIT's Q3 revenue rose 11% yr/yr, beating analyst expectations

• Q3 net income increased 17% from prior year

• Company raised full-year outlook after strong hospitality performance and Grande Lakes Orlando acquisition

Outlook

• Ryman Hospitality raises full-year 2026 guidance for same-store Hospitality RevPAR growth to 4.5%-5.5%

• Company now expects 2026 net income available to common stockholders of $277 mln to $281.5 mln

• Company expects 2026 adjusted FFO per diluted share/unit of $9.16 to $9.43

Result Drivers

• GROUP AND LEISURE DEMAND - Co said strong group and leisure trends in its same-store Hospitality business drove Q3 results

• HIGHER MEETING ATTENDANCE AND SPENDING - Co said premium group strategy led to higher meeting attendance and increased catering and audio visual spending

• GRANDE LAKES ORLANDO ACQUISITION - Co said acquisition of Grande Lakes Orlando added a turnkey asset and incremental group customer rotation opportunities

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for Ryman Hospitality Properties Inc is $139.00, about 4.4% above its October 30 closing price of $133.18

• The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 30 three months ago

Reuters Recommended Reads

• Nov 2 - Marriott tops Q3 revenue, profit estimates

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• Nov 2 - Marriott lifts annual room revenue growth forecast on resilient travel demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)