Ryman Completes $1.38 Billion Acquisition of Grande Lakes Orlando
Ryman Hospitality Properties (NYSE: RHP) has completed its acquisition of the Grande Lakes Orlando resort for approximately $1.38 billion, adding a 400-acre property with two luxury hotels and extensive meeting space to its portfolio. The purchase was financed through equity offerings, private debt placement, and cash reserves. Ryman expects the new asset to generate between $30 million and $35 million in non-GAAP Adjusted EBITDAre over the final four months of 2026. The acquisition aligns with Ryman’s strategy focused on large group-oriented resorts, as nearly two-thirds of Grande Lakes’ room nights were booked by groups last year. The property also features multiple revenue streams including food and beverage outlets, a spa, waterpark, and golf course. However, the deal increases both debt levels and share count, raising concerns about whether initial earnings projections can support financing costs. Analysts note that while Grande Lakes has received recent capital investment reducing near-term renovation needs, it also carries significant interest expenses from new senior notes. Ryman’s net income guidance for 2026 was reduced by $3.3 million due to the transaction's financial impact.
Tickers: $RHP
Topics: Debt Financing EBITDA Analysis Hospitality Industry Real Estate