Ryman Hospitality explores strategic partnerships for Opry Entertainment
Ryman Hospitality Properties, Inc. is evaluating strategic partnerships for its Opry Entertainment Group (OEG) business, engaging Morgan Stanley & Co. LLC for assistance. The company has not finalized any agreements, and no transaction is assured. OEG, a taxable REIT subsidiary, owns iconic country music brands and live entertainment venues.

*this image is generated using AI for illustrative purposes only.
Ryman Hospitality Properties, Inc. is exploring strategic partnerships for its Opry Entertainment Group (OEG) business to support long-term growth outside its REIT structure. The company has engaged Morgan Stanley & Co. LLC to assist in evaluating potential opportunities following inbound interest from various organizations. Ryman Hospitality Properties emphasized that it has not entered into any agreements and there are no assurances that any transaction will occur.
Colin Reed, Executive Chairman of Ryman Hospitality Properties, stated that enabling OEG to operate outside the REIT structure is important for its growth trajectory. The company believes strategic partnerships could further support this expansion while Ryman Hospitality Properties expects to maintain an integral role in OEG's continued development. The evaluation comes amid rising global popularity of country music and increasing demand for live experiences.
Ryman Hospitality Properties, Inc. is a lodging and hospitality real estate investment trust specializing in upscale convention center resorts and entertainment experiences. The company's holdings include 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. It also owns JW Marriott Phoenix Desert Ridge Resort & Spa and JW Marriott San Antonio Hill Country Resort & Spa.
The company's hotel portfolio, managed by Marriott International, comprises 12,364 rooms and more than 3 million square feet of meeting space. Ryman Hospitality Properties holds an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG), which operates as a taxable REIT subsidiary. OEG owns iconic brands such as the Grand Ole Opry, Ryman Auditorium, WSM 650 AM, and Ole Red, along with select outdoor live music venues and a majority interest in Southern Entertainment.
| Key Metrics | Details |
|---|---|
| Total Rooms | 12,364 |
| Meeting Space | >3 million sq ft |
| OEG Ownership | ~70% |
| Advisor | Morgan Stanley & Co. LLC |
What types of strategic partners are likely to be targeted to support Opry Entertainment Group's growth outside the REIT structure?
How will separating OEG from the REIT impact Ryman Hospitality Properties' overall financial performance and shareholder value?
Could this strategic review lead to a full spin-off or initial public offering (IPO) of Opry Entertainment Group in the future?

























