Ryman Hospitality Properties, Inc. Announces Leadership

— Chairman and CEO Colin Reed Announces Transition to Executive Chairman —

— Mark Fioravanti Named President and CEO, Effective January 1, 2023 —   

NASHVILLE, Tenn., Oct. 11, 2022 (GLOBE NEWSWIRE) — Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) at the moment introduced Chairman and Chief Executive Officer Colin Reed will transition to Executive Chairman of the Company after greater than 21 years as CEO. The Company’s Board of Directors has appointed President Mark Fioravanti to succeed Reed as Chief Executive Officer, beneath the title President and Chief Executive Officer, efficient January 1, 2023.

Reed’s function as Executive Chairman will embody his obligations as Executive Chairman of the Company’s Board of Directors and as Chairman of the Opry Entertainment Group (“OEG”) Board of Directors. Reed will even give attention to working with OEG strategic investor Atairos and with NBCUniversal to unlock alternatives for worth creation; advancing the Company’s ESG and Diversity, Equity, and Inclusion objectives; and group and authorities affairs. Reed will proceed his function with artist and shareholder relations alongside Fioravanti.

Reed stated, “It has been my honor to lead this Company for over two decades as we transformed our business into the hospitality and entertainment powerhouse it is today. With our businesses operating at record or near-record levels of performance and another strong year on the horizon, this is an ideal time for me to transition into a new role.”

Since becoming a member of predecessor firm Gaylord Entertainment in 2001, Reed led a strategic reorganization of the Company’s holdings, divesting non-core belongings and refocusing the Company beneath its Hospitality and Entertainment segments. In the years that adopted, the Company constructed a portfolio of resort belongings, flagged beneath the Gaylord Hotels model, which now contains 5 of the highest 10 largest non-gaming resort and conference heart lodges within the United States. Reed instituted a people-first philosophy that created excessive ranges of worker satisfaction and retention within the Company’s core Hospitality business, resulting in sturdy buyer loyalty that endures at the moment. In 2012, Reed led the Company via its conversion to a Real Estate Investment Trust (REIT) after promoting the Gaylord Hotels model and the rights to handle its lodges to Marriott International. Since then, the Company has strategically improved and added to its one-of-a-kind portfolio of purpose-built resort and conference heart belongings and its rising leisure portfolio of iconic and rising music manufacturers.

In 2002, Reed recruited Fioravanti to affix the Company’s administration crew to supervise advertising because the Company additional refined its Gaylord Hotels model. His roles included Senior Vice President (SVP) of Sales and Marketing for Gaylord Entertainment; President of Gaylord Entertainment’s subsidiary ResortQuest, a place he held till 2007; and SVP and Treasurer of Gaylord Entertainment. Fioravanti took on oversight of Finance in 2008 and was promoted to SVP and Chief Financial Officer (CFO) in 2009 after serving to the Company efficiently navigate the 2008 monetary disaster.

As the Company’s Executive Vice President and CFO from 2011 to 2015, Fioravanti was instrumental within the 2012 REIT conversion and subsequent worth creation. Since the REIT conversion, Fioravanti has overseen initiatives to strengthen the Company’s steadiness sheet, strategically deploy capital for future development and generate significant shareholder returns. He was named President and CFO in 2015.

Fioravanti performed an essential function in managing the Company’s response to the COVID-19 disaster, overseeing the Company’s money conservation and managing its liquidity, all whereas taking steps to retain a secure workforce. Most lately, he performed a number one function in securing a minority curiosity strategic investor for the Company’s rising OEG section. In February 2022, Fioravanti joined the Company’s Board of Directors.

Reed continued, “One of the earliest and best decisions I made in my time with the Company was recruiting Mark to join me as I worked to refocus the business. After working with him for over 20 years and navigating many twists and turns along the way, I am confident he is uniquely qualified to lead this Company and to ensure the momentum we have created over the past two decades continues.”

Robert S. Prather, Jr., Lead Independent Director for Ryman Hospitality Properties stated, “On behalf of the Board, I would like to thank Colin for his many years of service as CEO and his continued commitment moving forward as Executive Chairman. After spending many years working closely with Mark, the Board agrees he is the ideal successor to take Ryman Hospitality Properties into its next phase of growth, and we look forward to working with him in this new capacity.”

Fioravanti stated, “I am grateful to Colin and my fellow Board members for the opportunity to lead Ryman Hospitality Properties. I have the privilege of entering this role with a long-tenured management team that shares my passion for these unique businesses. Together with my team, I look forward to continuing to work to shape our vision, support our employees and create value for all our stakeholders.”

Reed concluded, “I would like to thank our employees, board members, shareholders, customers, and our many beloved Opry members for their support and confidence in me over the past 21 years. We have built a truly magnificent business, and I am eager to work toward its continued success in the years ahead.”

About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a number one lodging and hospitality actual property funding belief that makes a speciality of upscale conference heart resorts and nation music leisure experiences. The Company’s core holdings, Gaylord Opryland Resort & Convention Center, Gaylord Palms Resort & Convention Center, Gaylord Texan Resort & Convention Center, Gaylord National Resort & Convention Center, and Gaylord Rockies Resort & Convention Center, are 5 of the highest ten largest non-gaming conference heart lodges in the United States based mostly on whole indoor assembly house. These conference heart resorts working beneath the Gaylord Hotels model, together with two adjoining ancillary lodges, are managed by Marriott International and symbolize a mixed whole of 10,412 rooms and greater than 2.8 million sq. ft of whole indoor and out of doors assembly house in high conference and leisure locations throughout the nation. The Company additionally owns a 70% controlling possession curiosity in Opry Entertainment Group (OEG), which consists of entities proudly owning a rising assortment of iconic and rising nation music manufacturers, together with the Grand Ole Opry, Ryman Auditorium, WSM 650 AM, Ole Red, Circle, a rustic life-style media community the Company owns in a three way partnership with Gray Television, Nashville-area sights managed by Marriott, and Block 21, a mixed-use leisure, lodging, workplace and retail complicated, together with the W Austin Hotel and the ACL Live at Moody Theater, positioned in downtown Austin, Texas. The Company operates OEG as a part of a taxable REIT subsidiary. Visit RymanHP.com for extra data.

Cautionary Note Regarding Forward-Looking Statements
This press launch incorporates statements as to the Company’s beliefs and expectations of the end result of future occasions which might be forward-looking statements as outlined within the Private Securities Litigation Reform Act of 1995. You can determine these statements by the truth that they don’t relate strictly to historic or present details. Examples of those statements embody, however are usually not restricted to, statements concerning the long run efficiency of our business, future worth creation, and different business or operational points. These forward-looking statements are topic to dangers and uncertainties that would trigger precise outcomes to vary materially from the statements made. These embody the dangers and uncertainties related to the COVID-19 pandemic, together with the consequences of the COVID-19 pandemic on us and the hospitality and leisure industries typically, the consequences of the COVID-19 pandemic on the demand for journey, leisure and group business (together with government-imposed restrictions), ranges of shopper confidence within the security of journey and group gathering on account of COVID-19, the length and severity of the COVID-19 pandemic in the United States and the tempo of restoration following the COVID-19 pandemic, the length and severity of the COVID-19 pandemic within the markets the place our belongings are positioned, governmental restrictions on our companies, financial circumstances affecting the hospitality business typically, the geographic focus of the Company’s resort properties, business ranges on the Company’s lodges, the consequences of inflation on the Company’s business and on its clients, together with group business at its lodges, the Company’s potential to stay certified as a REIT for federal earnings tax functions, the Company’s potential to execute its strategic objectives as a REIT, the Company’s potential to generate money flows to assist dividends, the suspension of our dividend and our dividend coverage, together with the frequency and quantity of any dividend we could pay, the Company’s potential to borrow funds pursuant to its credit score agreements, the prevalence of any occasion, change or different circumstance that would have an effect on the combination of Block 21 or the strategic place of OEG after the Atairos funding. Other elements that would trigger working and monetary outcomes to vary are described within the filings made now and again by the Company with the U.S. Securities and Exchange Commission (SEC) and embody the danger elements and different dangers and uncertainties described within the Company’s Annual Report on Form 10-Ok for the fiscal 12 months ended December 31, 2021, and its Quarterly Reports on Form 10-Q and subsequent filings. The Company doesn’t undertake any obligation to launch publicly any revisions to forward-looking statements made by it to mirror occasions or circumstances occurring after the date hereof or the prevalence of unanticipated occasions.