Reed’s role as Executive Chairman will include his responsibilities as Executive Chairman of the Company’s Board of Directors and as Chairman of the
Reed said, “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 joining predecessor company
In 2002, Reed recruited Fioravanti to join the Company’s management team to oversee marketing as the Company further refined its Gaylord Hotels brand. His roles included Senior Vice President (SVP) of Sales and Marketing for
As the Company’s Executive Vice President and CFO from 2011 to 2015, Fioravanti was instrumental in the 2012 REIT conversion and subsequent value creation. Since the REIT conversion, Fioravanti has overseen initiatives to strengthen the Company’s balance sheet, strategically deploy capital for future growth and generate meaningful shareholder returns. He was named President and CFO in 2015.
Fioravanti played an important role in managing the Company’s response to the COVID-19 crisis, overseeing the Company’s cash conservation and managing its liquidity, all while taking steps to retain a stable workforce. Most recently, he played a leading role in securing a minority interest strategic investor for the Company’s growing OEG segment. In
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.”
Fioravanti said, “I am grateful to Colin and my fellow Board members for the opportunity to lead
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
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of our business, future value creation, and other business or operational issues. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the COVID-19 pandemic, including the effects of the COVID-19 pandemic on us and the hospitality and entertainment industries generally, the effects of the COVID-19 pandemic on the demand for travel, leisure and group business (including government-imposed restrictions), levels of consumer confidence in the safety of travel and group gathering as a result of COVID-19, the duration and severity of the COVID-19 pandemic in the United States and the pace of recovery following the COVID-19 pandemic, the duration and severity of the COVID-19 pandemic in the markets where our assets are located, governmental restrictions on our businesses, economic conditions affecting the hospitality business generally, the geographic concentration of the Company’s hotel properties, business levels at the Company’s hotels, the effects of inflation on the Company’s business and on its customers, including group business at its hotels, the Company’s ability to remain qualified as a REIT for federal income tax purposes, the Company’s ability to execute its strategic goals as a REIT, the Company’s ability to generate cash flows to support dividends, the suspension of our dividend and our dividend policy, including the frequency and amount of any dividend we may pay, the Company’s ability to borrow funds pursuant to its credit agreements, the occurrence of any event, change or other circumstance that could affect the integration of Block 21 or the strategic position of OEG after the Atairos investment. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and its Quarterly Reports on Form 10-Q and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
Investor Relations Contacts: | Media Contacts: |
(615) 316-6320 | (615) 610-0293 |
jhutcheson@rymanhp.com | hillary.prim@finnpartners.com |
~or~ | ~or~ |
(615) 316-6344 | (929) 266-6315 |
tsiefert@rymanhp.com | robert.winters@alpha-ir.com |
Source: Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc.
Symbol: RHP
CIK: 1040829
Exchange: NYSE
Founded: 1955 (69 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Hotel, Resorts
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
Latest Price: $98.57
High: $98.75
Low: $97.86
Open: $98.39
Previous Close: $98.75
Volume: 150,983
52-Week High: $120.36
52-Week Low: $76.49
Last updated: 2024-09-07 - v1.3