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NASHVILLE, Tenn., May 22, 2020 (GLOBE NEWSWIRE) — Ryman Accommodation Properties, Inc. (RHP) (the “Company”) today appear the abortion of its acceding with Stratus Properties, Inc. to acquirement the Block 21 mixed-use development in Austin, Texas.



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Colin Reed, Chairman and Chief Executive Officer of the Company, said, “In the accepted basic markets and bread-and-butter ambiance acquired by the COVID-19 pandemic, we accept bent that it is not in the best absorption of our shareholders to focus our assets and basic on this activity at this time. We aboveboard affliction that the accepted affairs do not admittance us to complete the acquisition. We acclaim Stratus on their acknowledged development of the Block 21 complex, and we apperceive that it will accept connected success back its businesses are able to acknowledgment to abounding backbone at the end of this all-around pandemic.”

As a aftereffect of the abortion of the transaction, the Company will bulk its nonrefundable drop of $15 actor provided to Stratus in affiliation with the beheading of the acquirement acceding in December 2019.



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About Ryman Accommodation Properties, Inc.



Ryman Accommodation Properties, Inc. (RHP) is a arch abode and accommodation absolute acreage advance assurance that specializes in flush assemblage centermost resorts and country music ball experiences. The Company’s bulk holdings* accommodate a arrangement of bristles of the top 10 better non-gaming assemblage centermost hotels in the United States based on absolute calm affair space. These assemblage centermost resorts accomplish beneath the Gaylord Hotels cast and are managed by Marriott International. The Company additionally owns two adjoining accessory hotels and a baby cardinal of attractions managed by Marriott International for a accumulated absolute of 10,110 apartment and added than 2.7 actor aboveboard anxiety of absolute calm and alfresco affair amplitude in top assemblage and leisure destinations beyond the country. The Company’s Ball articulation includes a growing accumulating of iconic and arising country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country affairs media arrangement the Company owns in a joint-venture affiliation with Gray Television. The Company operates its Ball articulation as allotment of a taxable REIT subsidiary.

*The Company is the sole buyer of Gaylord Opryland Resort & Assemblage Center; Gaylord Palms Resort & Assemblage Center; Gaylord Texan Resort & Assemblage Center; and Gaylord National Resort & Assemblage Center. It is the majority buyer and managing affiliate of the collective adventure that owns Gaylord Rockies Resort & Assemblage Center.

Cautionary Note Apropos Forward-Looking Statements

This columnist absolution contains statements as to the Company’s behavior and expectations of the aftereffect of approaching contest that are advanced statements as authentic in the Private Securities Litigation Reform Act of 1995. You can analyze these statements by the actuality that they do not chronicle carefully to absolute or accepted facts. Examples of these statements include, but are not bound to, statements apropos the advancing appulse of COVID-19 on travel, brief and accumulation demand, the advancing appulse of COVID-19 on our after-effects of operations, the bulk and accumulating of abandoning and abrasion fees, bulk ascendancy efforts, efforts to rebook barter for afterwards dates in 2020 and afterwards years, our affairs for reopening the our Gaylord Hotels backdrop and added assets back the COVID-19 communicable subsides and our use of banknote during the butt of 2020. These advanced statements are accountable to risks and uncertainties that could account absolute after-effects to alter materially from the statements made. These risks and uncertainties include, but are not bound to, the furnishings of the COVID-19 communicable on us and the accommodation and ball industries generally; the furnishings of the COVID-19 communicable on the appeal for travel, brief and accumulation business (including government-imposed restrictions); levels of customer aplomb in the assurance of biking and accumulation acquisition as a aftereffect of COVID-19; the continuance and severity of the COVID-19 communicable in the United States and the clip of accretion afterward the COVID-19 pandemic; the continuance and severity of the COVID-19 communicable in the markets area our assets are located; our adeptness to apparatus bulk ascendancy strategies; and the adverse furnishings of COVID-19 on our business or the bazaar bulk of our accepted stock. Added factors that could account after-effects to alter are declared in the filings fabricated from time to time by the Company with the U.S. Securities and Exchange Commission and accommodate the accident factors and added risks and uncertainties declared in the Company’s Annual Report on Form 10-K for the budgetary year concluded December 31, 2019 and its Quarterly Reports on Form 10-Q and consecutive filings. Except as appropriate by law, the Company does not undertake any obligation to absolution about any revisions to advanced statements fabricated by it to reflect contest or affairs occurring afterwards the date hereof or the accident of hasty events.

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Source: Ryman Accommodation Properties, Inc.

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Last Updated: May 24th, 2020 by admin
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