AcquisitionsAug 12, 2026, 04:16 PM
Ryman Hospitality secures $658M for Grande Lakes acquisition
AI Summary
Ryman Hospitality Properties, Inc. announced the closing of its underwritten registered public offering, raising approximately $658 million in net proceeds from the sale of 5,865,000 shares of common stock. These funds are intended to finance a portion of the previously announced $1.38 billion acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes. The remaining acquisition cost will be covered by cash on hand and approximately $689 million from a recently announced private placement of $700 million in senior notes.
Key Highlights
- Ryman Hospitality closed its public offering of 5,865,000 shares of common stock.
- The offering included 765,000 shares from the underwriters' option exercise.
- Net proceeds from the stock offering totaled approximately $658 million.
- Proceeds will fund a portion of the $1.38 billion Grande Lakes Acquisition.
- The acquisition involves JW Marriott Orlando Grande Lakes and The Ritz-Carlton Orlando.
- Balance of acquisition price to be funded by $689 million net proceeds from $700 million senior notes private placement.
- If the acquisition is not consummated, net proceeds will be used for general corporate purposes, and notes will be redeemed.
Price Impact
More from RHP