News Recap: Ryman Hospitality Properties (NYSE:RHP)

Ryman Hospitality Properties (NYSE:RHP) stock observed trading -70.03% off 52-week high price. On the other end, the stock has been noted 107.09% away from low price over the last 52-weeks. The stock disclosed a move of -41.92% away from 50 day moving average and -63.07% away from 200 day moving average. Moving closer, we can see that shares have been trading -13.29% off 20-day moving average. It has market cap of $1.56B and dividend yield of 13.85%.

On April 24, 2020, Ryman Hospitality Properties (NYSE:RHP) provided the following update on the impact of COVID-19:

Business Update

Colin Reed, Chairman and Chief Executive Officer of the Company, said, We continue to work closely with our hotel operator, Marriott, and with local and state health authorities to monitor the COVID-19 pandemic. At this time, we do not anticipate resuming operations at the five hotels that comprise the Gaylord Hotels convention network prior to May 31, 2020. This decision remains subject to change as the situation evolves, and we will update investors as appropriate if state and local guidelines are modified and conditions for reopening materialize at an earlier date for one or more of our Gaylord Hotels. Our smaller hotels, the Inn at Opryland and the AC National Harbor, as well as the Gaylord Springs golf course, remain operational, and we currently have no plans to temporarily close these businesses.

Over the years, the Gaylord Hotels brand has built strong relationships with its group customers. As the COVID-19 crisis began to unfold and government restrictions began to emerge, we made the strategic decision to avoid irreparably harming those relationships by aggressively pursuing the collection of cancellation fees. Instead, we are working cooperatively with our group customers to rebook their cancelled business. To manage the volume of rebooking opportunities created by this crisis, the majority of the Gaylord Hotels sales force was retained. We are encouraged by their success in the first five weeks of the rebooking effort.

Through April 22, 2020, we have experienced total attrition and cancellations of approximately 861,000 net room nights, representing approximately $402 million of total revenue (with approximately 80% of these cancelled group nights for arrival dates from February-June 2020). Through April 22, 2020, we have successfully rebooked approximately 110,000 group room nights, representing approximately $50 million in total revenue. Of these rebooked room nights, approximately 40% are scheduled for arrival in the second half of 2020, and approximately 10% are scheduled for arrival during 2021.

The USA based company Ryman Hospitality Properties moved with change of -1.47% to $27.44 with the total traded volume of 1025825 shares in recent session versus to an average volume of 1.02M. The stock was observed in the 5 days activity at -1.82%. The one month performance of stock was -14.65%. RHP’s shares are at -68.19% for the quarter and driving a -65.76% return over the course of the past year and is now at -68.34% since this point in 2018.  Right now the stock beta is 1.49. The average volatility for the week and month was at 7.70% and 11.30% respectively. There are 57.01M shares outstanding and 53.18M shares are floated in market.

John Gonzalez covers business and finance news. He is the only person we trust to provide breaking news in the finance category. Having already completed an Associates Degree in Psychology, John Gonzalez is now finishing his Bachelor’s degree in Communications. In preparation for working in the advertisement sector, John is writing financial content and analysis. On a daily basis, he works on articles regarding the following topics: business, top trends, technology, and politics.

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