Ryman Hospitality Properties, Inc. Declares Fourth Quarter Dividend, Related Adjustment to Conversion Rate of 3.75% Convertible

  Ryman Hospitality Properties, Inc. Declares Fourth Quarter Dividend, Related
  Adjustment to Conversion Rate of 3.75% Convertible Notes

Business Wire

NASHVILLE, Tenn. -- December 5, 2013

Ryman Hospitality Properties, Inc. (NYSE:RHP) today announced that its Board
of Directors declared a cash dividend of $0.50 per share of common stock
payable on January 15, 2014 to stockholders of record on December 27, 2013.

As a result of the declaration of the dividend, effective immediately after
the close of business on December 24, 2013, the conversion rate of the
Company’s outstanding 3.75 percent convertible notes due 2014 will adjust from
a conversion rate of 46.2165 per $1,000 principal amount of notes, which is
equivalent to a conversion price of $21.64, to a conversion rate of 46.7774,
which is equivalent to a conversion price of $21.38. Pursuant to customary
anti-dilution adjustments, effective immediately after the close of business
on December 24, 2013, the strike price of our call options related to the
convertible notes will be adjusted to $21.38 per share of common stock and the
exercise price of the common stock warrants we issued will be adjusted in a
similar manner.

About Ryman Hospitality Properties, Inc.:

Ryman Hospitality Properties, Inc. (NYSE:RHP), is a REIT 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 statements as to the Company’s beliefs and
expectations of the outcome of future events that are forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.
You can identify these statements by the fact that they do not relate strictly
to historical or current facts. Examples of these statements include, but are
not limited to, statements regarding dividend payments. These 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 associated with economic conditions affecting the
hospitality business generally, the geographic concentration of the Company’s
hotel properties, business levels at the Company’s hotels, the effect of the
Company’s election to be taxed as a REIT for federal income tax purposes
effective for the year ending December 31, 2013, the Company’s ability to
remain qualified as a REIT, the Company’s ability to execute its strategic
goals as a REIT, the effects of business disruption related to the Marriott
management transition and the REIT conversion, the Company’s ability to
realize cost savings and revenue enhancements from the REIT conversion and the
Marriott transaction, the Company’s ability to generate cash flows to support
dividends, future board determinations regarding the timing and amount of
dividends and changes to the dividend policy, which could be made at any time,
the determination of Adjusted Funds from Operations and REIT taxable income,
and the Company’s ability to borrow funds pursuant to its credit agreements
and to refinance indebtedness. Other factors that could cause operating and
financial results to differ are described in the filings made from time to
time by the Company with the U.S. Securities and Exchange Commission (SEC) and
include the risk factors described in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2012 and our Quarterly Reports on Form
10-Q for the fiscal quarters ended March 31, 2013, June 30, 2013 and September
30, 2013. 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.

Contact:

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