Ryman Hospitality Properties, Inc.’s 3.75% Senior Notes Remain Convertible

  Ryman Hospitality Properties, Inc.’s 3.75% Senior Notes Remain Convertible

Business Wire

NASHVILLE, Tenn. -- October 1, 2013

Ryman Hospitality Properties, Inc. (NYSE:RHP) (the “Company”) announced today
that its 3.75% Convertible Senior Notes due October 1, 2014 remain convertible
at the option of the holders through December 31, 2013, the last business day
of the current fiscal quarter. The company issued the notes in September 2009.

The notes remain convertible because the last reported sale price of the
company’s common stock for at least 20 trading days during the 30 consecutive
trading-day period ending on September 30, 2013, was greater than 120 percent
of the conversion price in effect on such day.

The company will, at its option, deliver shares of its common stock, cash, or
a combination of shares of its common stock and cash, upon conversion of any
notes surrendered through December 31, 2013. If shares are delivered, cash
will be paid in lieu of fractional shares only. The notes are currently
convertible at a rate of 46.2165 shares of common stock per $1,000 principal
amount of notes, which is equal to a conversion price of $21.64 per share.
Currently, the company has elected to settle each $1,000 principal amount of
notes with a cash payment at $1,000 and the remaining conversion value in
shares of its common stock. The company may elect a different settlement
method in the future.

There is approximately $304.1 million in aggregate principal amount of notes

If all outstanding notes are surrendered for conversion and the company elects
to deliver shares of its common stock, the aggregate number of shares of
common stock issued would be approximately 14.1 million. The notes could be
convertible after December 31, 2013, if the sale price condition described
above is met in any future fiscal quarter or if any of the other conditions to
conversion set forth in the indenture governing the notes are met.

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 and other
statements concerning the convertibility of the notes in the future.
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 subsequent 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.


Investor Relations:
Ryman Hospitality Properties, Inc.
Mark Fioravanti, 615-316-6588
Executive Vice President and Chief Financial Officer
Todd Siefert, 615-316-6344
Vice President of Corporate Finance & Treasurer
Ryman Hospitality Properties, Inc.
Brian Abrahamson, 615-316-6302
Vice President of Corporate Communications
Sloane & Company
Josh Hochberg, 212-446-189
Dan Zacchei, 212-446-1882
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