RHP - Ryman Hospitality Properties beats Q1 top and bottom line estimates; raises FY23 outlook

2023-05-03 16:59:07 ET

• Ryman Hospitality Properties press release ( NYSE: RHP ): Q1 AFFO of $1.89 beats by $0.48 .
• Revenue of $491.72M (+64.4% Y/Y) beats by $54.75M .
• During the quarter, the Company booked over 348,000 gross advanced group room nights for all future years, at an ADR of $251, an increase of 9.1% over Q1 2022 ADR for future bookings and 22.9% above Q1 2019 ADR for future bookings.
• Outlook: The Company increases its consolidated Full Year 2023 outlook to reflect strong Q1 2023 financial results and sustained confidence in the remainder of 2023. Net Income available to common shareholders per diluted share of $3.71-$3.88; Funds from Operations available to common shareholders of $403.8M- $426.0M; Consolidated Adjusted EBITDAre of $632M- $675M.

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