Ryman Hospitality Properties

Ryman Hospitality Properties is a publicly traded real estate investment trust (REIT) based in Nashville, Tennessee, that owns and runs a portfolio of upscale hotels and entertainment venues across the United States. The company trades on NASDAQ under the ticker RHP and was founded in 1998. It's become one of the largest hospitality real estate companies in North America, with properties concentrated in key leisure and business destinations. Ryman's portfolio includes iconic venues like the Ryman Auditorium in Nashville, the Grand Ole Opry, Gaylord Hotels, and the Wildhorse Saloon, among others. The company employs thousands of people across its operations and generates significant economic activity in Nashville and other communities where its properties sit.

History

Ryman Hospitality Properties started in 1998, when the company was incorporated as a real estate investment trust to buy and develop hospitality and entertainment properties. The company's early years focused on establishing a core portfolio of hotel and entertainment assets, with Nashville serving as the natural headquarters given the city's significance as an entertainment and tourism destination. When Ryman acquired the iconic Ryman Auditorium in 2001, everything changed. This historic venue, which was home to the Grand Ole Opry from 1943 to 1974, gave Ryman Hospitality a flagship property and cultural anchor that defined its corporate identity.

Throughout the 2000s and 2010s, the company expanded its portfolio significantly through strategic acquisitions and development projects. It acquired the Grand Ole Opry House in 2010, consolidating its position as a major operator of country music's most celebrated institutions. The Gaylord Hotels brand, which includes large-scale resort properties in Orlando, National Harbor, Maryland, and other locations, became central to the company's business model. These properties typically feature extensive conference facilities, entertainment venues, and destination amenities designed to attract leisure travelers and convention business. Ryman navigated the economic challenges of the 2008 financial crisis and the 2020 COVID-19 pandemic, both of which hit the hospitality industry hard, though the company adjusted its operations and eventually recovered as travel resumed.

Economy

Ryman Hospitality Properties contributes significantly to Nashville's and regional economies through employment, tax revenue, and tourism spending. The company operates hundreds of properties across multiple states, with particular concentrations in Tennessee and Florida. Its portfolio includes not only traditional hotel accommodations but also conference centers, entertainment venues, and specialized tourism attractions that generate substantial visitation and spending. The Ryman Auditorium and Grand Ole Opry House alone attract hundreds of thousands of visitors annually, many of whom stay in Ryman hotels and spend money throughout Nashville's hospitality and entertainment sectors.

The economic impact goes beyond direct operations. Supply chain activities, professional services, and supporting industries all benefit from Ryman's presence. Hotels require regular maintenance, supplies, food service provisions, and administrative support, creating employment opportunities across multiple skill levels. Ryman Hospitality's convention and conference facilities at its Gaylord Hotels generate additional economic activity by hosting large corporate meetings, trade shows, and other events that bring extended-stay visitors to host communities. As a publicly traded REIT, Ryman Hospitality provides investment opportunities for shareholders and contributes to Nashville's growing reputation as a financial and corporate services hub. The company's headquarters operations, including executive offices, corporate support functions, and administrative services, directly employ hundreds of professional and technical workers in Nashville.

Attractions

Ryman Hospitality Properties owns and runs several of Nashville's most prominent entertainment and tourism attractions that draw millions of visitors annually. The Ryman Auditorium is a 2,362-seat venue completed in 1892. It stands as one of the most historically significant performance spaces in American music history. Originally constructed as the Union Gospel Tabernacle, the building became known as the Mother Church of Country Music and served as home to the Grand Ole Opry radio show for thirty-one years, establishing its cultural importance to country music and Nashville's identity. Today, the venue hosts live music performances, theatrical productions, and other events while also functioning as a major tourist attraction offering tours of its historic spaces.

The Grand Ole Opry House, a 4,400-seat venue completed in 1974, continues the tradition of live country music performance and remains one of the longest continuously running live stage shows in American history. Ryman Hospitality's stewardship of these venues has included extensive restoration and modernization efforts while maintaining their historical character and cultural significance. The company's Wildhorse Saloon, also located in Nashville's entertainment district, provides an additional music and dining venue that attracts both tourists and local patrons. The Gaylord Hotels properties, while primarily designed as destination resort hotels with conference facilities, include significant entertainment amenities, restaurants, and performance spaces that function as attractions in their own right. These properties contribute substantially to Nashville's status as a major entertainment and tourism destination, with their combined attractions and accommodations making significant contributions to visitor spending in the metropolitan area.

Culture

Ryman Hospitality Properties maintains a significant cultural presence in Nashville as a steward of country music heritage and as a major presenter of live entertainment. The company's ownership of the Ryman Auditorium and Grand Ole Opry House places it in a custodial role regarding some of the most important physical spaces in country music history and American popular culture. Through its operation of these venues, Ryman Hospitality helps continue live music traditions while serving as a venue for contemporary artists across multiple genres, including rock, pop, gospel, and R&B performances. The company has made substantial investments in restoration and preservation of the Ryman Auditorium, addressing deferred maintenance and upgrading technical infrastructure while respecting the building's historic architectural elements and interior character.

The company's portfolio of entertainment properties extends Nashville's cultural influence beyond the city's geographic boundaries. Gaylord Hotels in Orlando, National Harbor, and other locations serve as regional cultural centers with programming, entertainment, and dining offerings that reflect hospitality industry standards. By operating signature Nashville entertainment properties across multiple markets, Ryman Hospitality has positioned itself as a representative of Nashville's cultural brands and music heritage. The company's website and marketing materials emphasize the historical significance and cultural value of its properties. That reflects an understanding that the Ryman Auditorium and Grand Ole Opry House aren't merely commercial assets but cultural institutions with meaning extending far beyond their function as venues for fee-generating events. This positioning has helped maintain Nashville's cultural prominence in the national and international consciousness and has reinforced the city's identity as the center of country music and a major music tourism destination.