Ryman Hospitality plans $700M notes offering for Orlando acquisition

Ryman Hospitality Properties, Inc. (NYSE: RHP) announced that its subsidiaries, RHP Hotel Properties, LP and RHP Finance Corporation, intend to offer $700 million in aggregate principal amount of senior unsecured notes due 2035 in a private placement, subject to market and other conditions.

The proceeds are intended to fund 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 is to be funded through a combination of cash on hand and the net proceeds from a separate public offering of 5,100,000 shares of common stock priced at $117.00 per share on Aug. 10, 2026, which was expected to close Aug. 12, 2026.

The notes will be senior unsecured obligations guaranteed by the company and its subsidiaries that guarantee the operating partnership's existing credit facility and outstanding senior unsecured notes. The notes will be offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S of the Securities Act of 1933.

If the Orlando acquisition is not completed, the notes will be redeemed at 100% of the issue price plus any accrued and unpaid interest. The completion of the notes offering is not contingent on the completion of the acquisition or the stock offering.

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