Ryman Hospitality Properties, Inc. (NYSE: RHP) closed an underwritten public offering of 5,865,000 shares of common stock at $117.00 per share, according to a company statement. The total included 765,000 shares sold after underwriters exercised their over-allotment option in full on Aug. 11, 2026.

The offering generated net proceeds of approximately $658 million after deducting underwriting discounts, commissions, and other expenses. The company plans to contribute those proceeds to its operating partnership, RHP Hotel Properties, LP, which intends to apply them 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 acquisition cost is to be funded through cash on hand and proceeds from a separate private placement of $700 million in 6.250% senior notes due 2035, priced Aug. 11, 2026. Net proceeds from that offering are expected to total approximately $689 million after fees. The private placement is expected to close on Aug. 25, 2026, subject to customary closing conditions.

If the Orlando acquisition is not completed, the company said it would use the stock offering proceeds for general corporate purposes, and the senior notes would be redeemed at 100% of their issue price plus accrued interest under a special mandatory redemption provision.

BofA Securities, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities served as joint book-running managers for the offering.