Ryman Hospitality Properties, Inc. Repurchases $54,742,000 in Principal Amount of 3.75% Convertible Senior Notes

  Ryman Hospitality Properties, Inc. Repurchases $54,742,000 in Principal
  Amount of 3.75% Convertible Senior Notes

Business Wire

NASHVILLE, Tenn. -- July 2, 2013

Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) announced today
that it has recently repurchased in private transactions $54,742,000 principal
amount of its 3.75% convertible senior notes due 2014, which will be
cancelled, and is processing the settlement of $1,200,000 principal amount of
the convertible notes that were converted by a holder. After these
transactions, $304,058,000 in principal amount of the notes will remain

The repurchases were made for aggregate consideration of $98,558,163, funded
by draws under the Company’s revolving credit facility and cash on hand.

In connection with the repurchase of notes, the Company proportionately
adjusted the number of options underlying the bond hedge transaction related
to the convertible notes. In addition, the number of warrants outstanding will
be reduced to approximately 13.9 million. In consideration for these
adjustments, the counterparties to the call spread transactions will pay the
Company 157,886 shares of the Company’s common stock.

Information concerning the dilution resulting from the convertible notes may
be made available from time to time on the Company’s website, www.rymanhp.com,
under the “Investor Toolkit” section of the Investor Relations page.

About Ryman Hospitality Properties, Inc.

Ryman Hospitality Properties, Inc. (NYSE: RHP), is a real estate investment
trust for federal income tax purposes, specializing in group-oriented,
destination hotel assets in urban and resort markets. The Company’s owned
assets include a network of four upscale, meetings-focused resorts totaling
7,795 rooms that are managed by world-class lodging operator Marriott
International, Inc. under the Gaylord Hotels brand. Other owned assets managed
by Marriott International, Inc. include Gaylord Springs Golf Links, the
Wildhorse Saloon, the General Jackson Showboat and the Inn at Opryland, a
303-room overflow hotel adjacent to Gaylord Opryland. The Company also owns
and operates a number of media and entertainment assets, including the Grand
Ole Opry (opry.com), the legendary weekly showcase of country music’s finest
performers for nearly 90 years; the Ryman Auditorium, the storied former home
of the Grand Ole Opry located in downtown Nashville; and WSM-AM, the Opry’s
radio home. For additional information about Ryman Hospitality Properties,
visit www.rymanhp.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” concerning the
Company’s expectations, future results and underlying assumptions, and other
statements that are not necessarily based on historical facts. Examples of
these statements include, but are not limited to, the form and timing of
payments of the Company in connection with notes surrendered. Forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from the statements made. These include the risks
and uncertainties described in the filings made from time to time by the
Company with the U.S. Securities and Exchange Commission, including the risk
factors described in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2012 and its Quarterly Reports on Form 10-Q. The
Company does not undertake any obligation to release publicly any revisions to
forward-looking statements made by it to reflect events or circumstances
occurring after the date hereof or the occurrence of unanticipated events.


Ryman Hospitality Properties, Inc.
Investor Relations:
Mark Fioravanti, 615-316-6588
Executive Vice President and Chief Financial Officer
Todd Siefert, 615-316-6344
Vice President of Corporate Finance & Treasurer
Brian Abrahamson, 615-316-6302
Vice President of Corporate Communications
Sloane & Company
Josh Hochberg, 212-446-1892
Dan Zacchei, 212-446-1882
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