Ryman Hospitality Properties has delivered a perfect 4-for-4 earnings beat streak with an average surprise of 18.4%, earns superior returns on equity versus peers, and carries excellent free cash flow conversion of 223%, but the stock has already exceeded analyst targets and carries heavy concentration in a single hospitality operator relationship.
Thesis pillars
- Perfect Earnings Beat Streak↑Improving
- Free Cash Flow Quality→Stable
- Marriott Counterparty Concentration↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 24, 2026· older than 90 days
Ryman Hospitality Properties, I (RHP) Stock Analysis
Real Estate · REIT - Hotel & Motel
Hold if already holding. Not a fresh buy at $135.62, but acceptable to hold if already in. Reasons: Concentration risk — Counterparty: Marriott; Concentration risk — Product: Hospitality segment (83.0%).
Ryman Hospitality Properties is a REIT owning 11,869 rooms across seven upscale convention hotels managed by Marriott under the Gaylord Hotels and JW Marriott brands. The Hospitality segment generated approximately 83% of 2025 revenues; the Entertainment segment (17%), anchored... Read more
Hold if already holding. Not a fresh buy at $135.62, but acceptable to hold if already in. Reasons: Concentration risk — Counterparty: Marriott; Concentration risk — Product: Hospitality segment (83.0%). Chart setup: No clear chart pattern; technical signals are mixed. Multiple concerning factors. Consider reducing position. | News modifier +2 (SELL_IF_HOLDING → HOLD_IF_HOLDING) Score 6.1/10, high confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news boost earnings 0.80, earnings proximity 110d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Ryman Hospitality Properties, I
About Ryman Hospitality Properties, I
Ryman Hospitality Properties owns seven upscale convention hotels totaling 11,869 rooms — including five Gaylord Hotels properties and two JW Marriott properties across Nashville, Orlando, Dallas, San Antonio, Washington D.C., Denver, and Phoenix — plus two overflow hotels. The Hospitality segment generated approximately 83% of 2025 revenues; Entertainment (Grand Ole Opry, Ryman Auditorium, Ole Red, and related assets through an approximately 70% stake in Opry Entertainment Group) contributed the remaining 17%. JW Marriott Desert Ridge (950 rooms, Phoenix) was added in June 2025.
Ryman earns Hospitality revenue through TRS lessees that lease hotel properties from the Operating Partnership and engage Marriott under long-term hotel management agreements as the eligible independent contractor for day-to-day management. Group meeting and convention demand, contracted years in advance, forms the core revenue base, exposing the company to margin pressure when fixed group rates are locked before operating cost increases — including labor, supplies, and insurance — take effect. The company identified over $1 billion in capital investment opportunities across its portfolio in 2024, with phases planned through 2027, including a nearly $225 million expansion at Gaylord Opryland adding approximately 108,000 square feet of premium meeting space. The Entertainment segment includes the Grand Ole Opry, which celebrated its 100th anniversary in 2025, the Ryman Auditorium, six Ole Red venues, and Category 10 Nashville, opened in November 2024.
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Ryman's financial results depend on Marriott's management execution across all hotel properties generating substantially all Hospitality segment revenue. Marriott controls room rates, group bookings, cost management, and staffing while also owning the Gaylord Hotels and JW Marriott brand trademarks. The 10-K notes that Marriott operates the Gaylord Pacific Resort & Convention Center — a competing 1,600-room venue that opened in May 2025 but is not owned by Ryman — and manages the competing Marriott Orlando World Center and Washington D.C. Marriott Marquis. Hotel management agreement covenants prevent Ryman from selling properties to Marriott competitors without Marriott's approval, constraining exit options.
See also: Real Estate · REIT - Hotel & Motel
From Ryman Hospitality Properties, I's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Oct 29, 2026Recent Developments — Ryman Hospitality Properties, I
Latest news
- NEWS Ryman Hospitality Properties Inc (RHP) Technical Analysis: Support, Resistance, Indicators & Moving Averages - TradingKe — TradingKey Oct 29, 2026 neutral
- NEWS Ryman Healthcare Shares Slid Even Though Sales Rose - Yahoo Finance — Yahoo Finance Oct 29, 2026 negative
- NEWS Is Ryman Hospitality Properties (RHP) Undervalued On New Solar Efficiency And Cash Flow Optimism? - Simply Wall St — Simply Wall St Oct 28, 2026 positive
- NEWS Does Ryman Hospitality Properties (RHP) Have More Cash Flow Upside? - Yahoo Finance — Yahoo Finance Oct 27, 2026 neutral
- NEWS What Ryman Hospitality Properties (RHP)'s Entertainment Spin-Off Exploration Means For Shareholders - Yahoo Finance — Yahoo Finance Sep 30, 2026 positive
Latest item Oct 29, 2026 · Generated 2026-11-04T11:39:50Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHcounterpartyMarriott10-K Item 1A: 'The operation and management of our current hotel properties, the operation of which generates substantially all our Hospitality segment revenue, is concentrated in Marriott.'
- HIGHProductHospitality segment83%10-K Item 1: 'Hospitality, Entertainment, and Corporate and Other — represented approximately 83%, 17% and 0%, respectively, of our total revenues for the fiscal year ended December 31, 2025'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
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Price Targets
Position Sizing
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Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $135.62, but acceptable to hold if already in. Reasons: Concentration risk — Counterparty: Marriott; Concentration risk — Product: Hospitality segment (83.0%). Chart setup: No clear chart pattern; technical signals are mixed. Multiple concerning factors. Consider reducing position. | News modifier +2 (SELL_IF_HOLDING → HOLD_IF_HOLDING) Analyst target $122.17 reached (−9.9%), stop $128.92 (−5.2%), A.R:R -0.8:1. Score 6.1/10, high confidence.
Analyst target $122.17 reached (−9.9% from $135.62); no take-profit level is published. Analyst target $122.17 reached (−9.9%), stop $128.92 (−5.2%), A.R:R -0.8:1. Stop-loss: $128.92.
Concentration risk — Counterparty: Marriott; Concentration risk — Product: Hospitality segment (83.0%); Analyst target reached - limited upside remaining.
Ryman Hospitality Properties, I trades at a P/E of 32.9 (forward 28.4). TrendMatrix value score: 4.8/10. Verdict: Hold.
18 analysts rate RHP, with a consensus score of 4.2/5. 14 analysts publish price targets averaging $140.
What does Ryman Hospitality Properties, I do?Ryman Hospitality Properties is a REIT owning 11,869 rooms across seven upscale convention hotels managed by Marriott...
Ryman Hospitality Properties is a REIT owning 11,869 rooms across seven upscale convention hotels managed by Marriott under the Gaylord Hotels and JW Marriott brands. The Hospitality segment generated approximately 83% of 2025 revenues; the Entertainment segment (17%), anchored by the Grand Ole Opry and Ryman Auditorium, is held through an approximately 70% stake in Opry Entertainment Group.