The company confirmed it has fielded inbound interest from various organizations regarding the entertainment arm, which it has long suggested would thrive outside its current REIT structure. While the board is exploring options, leadership emphasized that any potential transaction would not signal a full exit. Ryman intends to remain a significant participant in the long-term growth of the entertainment brand, regardless of the final partnership configuration.
In section Market Quotes
Ryman Hospitality Weighs Strategic Shift for Opry Entertainment
Ryman Hospitality Properties has engaged Morgan Stanley to evaluate potential partnerships for its Opry Entertainment Group, the subsidiary managing iconic Nashville music landmarks like the Grand Ole Opry and Ryman Auditorium. The move follows reports that the real estate investment trust is considering offloading its 70% stake in the business.
Investors responded favorably to the prospect of a strategic realignment. Shares of Ryman Hospitality Properties climbed 4.5% to reach $129.77 on Wednesday, extending a strong performance that has seen the stock gain 37% throughout the year. The company cautioned that no formal agreements have been reached and a deal remains speculative at this stage.
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