Ryman Hospitality Properties CEO Sees Healthy Large Group Demand

Colin Reed, chairman and CEO of Ryman Hospitality Properties, Inc. (NYSE: RHP), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.

Reed discussed the company’s strong start to the year, which was in part due to the benefits from projects completed in 2018.

Turning to group demand, Reed noted that Ryman Hospitality differentiates itself from other providers by focusing on large groups that rotate from market-to-market, year-by-year. “None of our competitors operate that way,” he said.

Reed added that right now, “the large group business seems to be in really good shape. Lead volumes today compared to a year ago look really healthy”

Meanwhile, Reed discussed the joint venture between Opry Entertainment Group, a subsidiary of Ryman Hospitality, and Gray Television, Inc. to create and distribute an OTT (over-the-top) platform using all of Ryman Hospitality’s entertainment content. OTT platforms provide content via the internet, bypassing traditional distribution channels.

“It’s the final part of the puzzle for the entertainment business and we’re very excited about that,” Reed said.