Investment Thesis
Ryman Hospitality Properties (RHP) delivered strong top- and bottom-line growth in Q1 2019. The REIT should continue to see strong growth in the next few quarters, thanks to the newly added Gaylord Rockies hotel that started operation in late 2018. The company also has a solid balance sheet that should allow it to fund its growth opportunities. The company pays a growing 4.6%-yielding dividend. Since the hotel industry is cyclical and given the fact that we are now in the latter stage of the economic cycle, investors should apply a higher