Reports Full Year Net Income of $111.5 Million
Reports Record Full Year Consolidated Adjusted EBITDA of $325.1 Million, an Increase of 11.7 Percent Over Full Year 2014
Declares First Quarter 2016 Dividend of $0.75 Per Share; Intends to Pay a $3.00 Per Share Annual Dividend, an 11 Percent Increase Over Full Year 2015
Gross Advanced Group Bookings Increase 12.3 Percent Over Fourth Quarter 2014
Issues 2016 Guidance
NASHVILLE, Tenn.–Feb. 26, 2016– Ryman Hospitality Properties, Inc. (NYSE:RHP), a lodging real estate investment trust ("REIT") specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the fourth quarter and full year ended December 31, 2015.
Colin Reed, chairman and chief executive officer of Ryman Hospitality Properties, said, “We stated at the outset of 2015 that we believed it would be another strong year for our company, and as we finished the year with solid fourth quarter results, 2015 went into the books as our very best year on record from a revenue, profitability and hospitality bookings perspective. The double-digit Adjusted EBITDA growth we realized in full year 2015 when compared to full year 2014 speaks to the tremendous operational leverage that exists within our Hospitality segment and is further evidence of the work we have done with Marriott to fine tune this business and position our hotels to take full advantage of the demand we see on the horizon for our unique group-centric model.
“Both the full year and fourth quarter of 2015 were records for the company in terms of gross room night production. The strong production levels we have had over the past few years have positioned us well for 2016 and beyond, particularly given the lack of new group-oriented competitive supply we are seeing in our markets and across the United States for the next several years.”
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