And the PR release from Roman Hospitality;
Ryman Hospitality's response: https://ir.rymanhp.com/news-release...properties-inc-addresses-recent-media-reports
Wow.
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Bloomberg reporting Rymsn Hospitality exploring sale of Opry and WSM
- Thread starter sjs1959
- Start date
And the PR release from Roman Hospitality;
Ryman Hospitality's response: https://ir.rymanhp.com/news-release...properties-inc-addresses-recent-media-reports
Wow.
Clarifying that it's "Ryman" and not "Rymsn" (as in the subject line) or "Roman" (as in the description of the PR release.
I think it is most likely they will be sold separately. Also, the WSM site is likely worth and incredible sum if it isn’t historically protected. Probably many many times more than even a good class a is worth.
Interesting story. To put it in context, three years ago, Disney was rumored to be selling ESPN
Turns out they were just testing the waters. The company then turned around and bought MLB Network and the NFL Network to diversify its revenue streams.
That could be what's going on here. You really don't know what something's worth until you put it on the market. That's what Zaslow did with WBD, and look at what happened. That's not likely to happen here.
You may be referring to the tower site. Yes it is a protected site. The studio recently moved to the grounds of the Opry House.
What that move did was take WSM out of the Opryland Hotel, which is the main property of Ryman Hospitality. The synergies that existed between the hotel and the Opry aren't as obvious anymore. The reason the hotel was built was so Opry fans would have a convenient place to stay. That's not as big a problem now as it was 50 years ago.
Turns out they were just testing the waters. The company then turned around and bought MLB Network and the NFL Network to diversify its revenue streams.
That could be what's going on here. You really don't know what something's worth until you put it on the market. That's what Zaslow did with WBD, and look at what happened. That's not likely to happen here.
You may be referring to the tower site. Yes it is a protected site. The studio recently moved to the grounds of the Opry House.
What that move did was take WSM out of the Opryland Hotel, which is the main property of Ryman Hospitality. The synergies that existed between the hotel and the Opry aren't as obvious anymore. The reason the hotel was built was so Opry fans would have a convenient place to stay. That's not as big a problem now as it was 50 years ago.
I figured the REIT status would play in, and the press release from Ryman confirms this.
A REIT is limited in how much revenue they can make from activities other than Real Estate investments, or else they lose tax incentives. Ryman converted to this structure about 15 years ago, when they renamed themselves from "Gaylord Entertainment" to "Ryman Hospitality."
There were some small tweaks to the tax laws surrounding REITs in Pres. Trump's tax law passed last year, but I don't know enough details to know if that could have spurred changes for Ryman executives.
A REIT is limited in how much revenue they can make from activities other than Real Estate investments, or else they lose tax incentives. Ryman converted to this structure about 15 years ago, when they renamed themselves from "Gaylord Entertainment" to "Ryman Hospitality."
There were some small tweaks to the tax laws surrounding REITs in Pres. Trump's tax law passed last year, but I don't know enough details to know if that could have spurred changes for Ryman executives.
They are still investing in new real estate, enlarging their "Ole Red" restaurant chain to Las Vegas, and Indianapolis next year:
Ole Red Is Coming To Indianapolis - Ole Red
Boxcar Development and Opry Entertainment Group announce partnership to bring Blake Shelton’s Ole Red to downtown Indianapolis Fieldhouse District. Country superstar […]
olered.com
The restaurants are owned by OEG, which makes sense since they're built around a partnership with an Opry member.
Same as Category 10 and Luke Combs.
Live Music, Rooftop Bar, & Line Dancing - Category 10
Luke Combs’ Category 10 is his fan-first, next-level bar, restaurant, live music and entertainment venue at 2nd and Broadway in Nashville.
www.category10.com
Yep, couldn’t edit, sorry