Ryman Hospitality says FY14 'will be solid year'

February 28, 2014

The company said, "We believe FY14 will be a solid year for our company particularly given our group pace entering the year as well as the continued strength of the transient segment. We entered FY14 with 4.8% more group room nights on the books than we had at the same point last year for FY13. This strong demand growth and favorable supply dynamics in the markets in which we operate should allow for improved pricing power and higher average daily rates, which we are reflecting in anticipated RevPAR growth of 4.0% to 6.0% versus FY13. Coupled with the strength of our group pace entering the year, we also have a more favorable mix of group business with a 10% increase in higher rated corporate group room nights, which should positively impact outside-of-the-room spending. As such, we believe we will generate between 5.0%-7.0% growth in Total RevPAR over FY13."