Ryman Hospitality prices 5.1M share offering at $117 each

Ryman Hospitality Properties (NYSE: RHP) priced an underwritten public offering of 5,100,000 shares of common stock at $117.00 per share, according to a company press release. The offering is expected to close on August 12, 2026, subject to customary closing conditions.

The company also granted underwriters a 30-day option to purchase up to 765,000 additional shares.

Ryman Hospitality said it intends to contribute the net proceeds to its operating partnership, RHP Hotel Properties, LP, which plans to use the funds toward a portion of the approximately $1.38 billion purchase price for the pending acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes in Orlando, Florida. The remaining balance of the acquisition price is expected to be funded through a combination of cash on hand and debt, which may include borrowings under a revolving credit facility, unsecured debt financing, or the assumption of an existing property-level secured loan.

The completion of the stock offering is not contingent on the closing of the hotel acquisition. If the acquisition is not completed, the company stated it would use the net proceeds for general corporate purposes.

BofA Securities, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities are serving as joint book-running managers for the offering. Deutsche Bank Securities, BTIG, Credit Agricole CIB, Scotiabank, SMBC Nikko, and Raymond James are acting as bookrunners.

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