Ryman Hospitality Properties Reports Strong Q4 Results

Executives cite holiday programming and group trends as key drivers of performance

Published on Feb. 25, 2026

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Ryman Hospitality Properties (NYSE:RHP) executives said the company's fourth-quarter results exceeded internal expectations, driven by strong holiday programming across its hotel portfolio and better-than-expected volume at its downtown Nashville entertainment venues. The company reported record ICE! ticket sales, improved group trends, and investments in its Gaylord Opryland and JW Marriott Desert Ridge properties.

Why it matters

Ryman Hospitality's performance highlights the continued recovery of the hospitality and entertainment industries in the post-pandemic era, with the company's diversified portfolio of convention hotels and live entertainment venues proving resilient. The results also demonstrate the value of Ryman's long-term investments in its properties and its ability to adapt to changing market conditions.

The details

Ryman reported that its same-store hospitality segment delivered its highest total revenue and adjusted EBITDAre of any fourth quarter, driven by strong holiday programming demand and higher leisure volumes. ICE! ticket sales rose more than 14% to a record 1.5 million tickets, with Gaylord National, Gaylord Opryland, and Gaylord Rockies all recording their best seasons ever. On the group side, same-store attrition trends improved, and banquet net ancillary value revenues increased nearly 5% despite lower corporate group volumes.

  • Ryman reported fourth-quarter results that exceeded internal expectations.
  • The company booked more than 1.2 million gross group room nights in the fourth quarter for all future years.
  • Ryman's 2026 guidance assumes modest growth in group rooms revenue and 'flattish' leisure performance.
  • The company expects first-quarter 2026 RevPAR and total RevPAR to be roughly flat, with adjusted EBITDAre margin down about 100 basis points.
  • Ryman plans to expand its Category 10 brand with Luke Combs, with a Las Vegas location expected to open in the fourth quarter of 2026 and a third location planned for Universal CityWalk in Orlando.

The players

Ryman Hospitality Properties

A publicly traded real estate investment trust (REIT) that specializes in the ownership and operation of group-oriented, large convention center hotel resorts. The company's portfolio is anchored by its Gaylord Hotels brand.

Colin Reed

Executive Chairman of Ryman Hospitality Properties.

Mark Fioravanti

President and CEO of Ryman Hospitality Properties.

Jennifer Hutcheson

CFO of Ryman Hospitality Properties.

Patrick Moore

CEO of Ryman's Opry Entertainment Group.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.