Ryman Hospitality Properties, Inc. (NYSE: RHP) has launched an underwritten public offering of 5,100,000 shares of common stock, with an option for underwriters to purchase up to 765,000 additional shares within 30 days, according to a company statement.

The Nashville-based real estate investment trust said it plans to direct the net proceeds to its operating partnership, which intends 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 cost 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, and the potential assumption of an existing property-level secured loan.

The company noted that the completion of the share offering is not contingent on the closing of the Orlando acquisition and will occur before it. If the acquisition is not completed, the company said 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 additional bookrunners.

The offering is being conducted under a shelf registration statement filed with the U.S. Securities and Exchange Commission on August 10, 2026.