Ryman Hospitality Properties (RHP) Announces Proposed 3M Share Common Offering

Ryman Hospitality Properties, Inc. (NYSE: RHP) today announced that it plans to make a public offering of 3,000,000 shares of its common stock, par value $0.01 per share, in an underwritten registered public offering (the “Offering”). The Company expects to grant the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock.

The Company intends to use a portion of the net proceeds of the Offering (after deducting the underwriting discounts and commissions and other estimated expenses of the Offering payable by the Company) to fund the approximately $134 million cash portion of the consideration for the previously announced pending acquisition of Block 21, a mixed-use entertainment, lodging, office and retail complex located in downtown Austin, Texas (the “Block 21 Acquisition”), and the related fees and expenses of the Block 21 Acquisition. The Offering is not conditioned upon consummation of the Block 21 Acquisition. The Company intends to use the remaining net proceeds of this Offering, or all of the net proceeds from this Offering if the Block 21 Acquisition is not consummated, for general corporate purposes, including future acquisitions or investments and the repayment of indebtedness outstanding under the Company’s existing revolving credit facility.

BofA Securities, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed or as to the final size or terms of the Offering.

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