President, Chief Executive Officer & Director, Ryman Hospitality Pptys
Search every verified Mark Fioravanti interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Mark Fioravanti, president and CEO of Ryman Hospitality Properties, stated in January 2025 that the company owns five of the ten largest non-gaming convention resorts in the U.S. and is undertaking a $1 billion capital improvement plan over four years. He described supply-demand dynamics as "quite positive" in the large group space, with group business having recovered from the COVID-19 pandemic. Fioravanti noted that the company's balance sheet is in "terrific shape," with net leverage under four times and $1.5 billion in liquidity, and said all planned capital improvements can be financed from operating cash flow. He acknowledged short-term disruption from the expansions but said the long-term value creation is "quite compelling for shareholders." In September 2024, Fioravanti said business levels had returned to pre-pandemic levels for room nights sold, with third-quarter revenue up 39% and profitability up 44% compared to the same period in 2019. He reported that group bookings for 2024 were 10% ahead of the prior year and 12% ahead for 2025. Fioravanti attributed the sustainability of pricing to investments made during the pandemic, when the company deployed approximately $1.7 billion in capital across enhancements, expansions, and acquisitions. He said the pandemic reinforced the importance of bringing large groups together for culture and strategy, driving a strong return to in-person meetings.
“In terms of our positioning we own five of the 10 largest non-gaming convention resorts in the country and we're undertaking right now about a 1 billion dollar Capital Improvement plan over the next four years to continue to enhance our competitive position.”
“Supply demand is quite positive right now in the large group space. We don't see a lot of new supply particularly in larger hotels and on the demand side group has recovered nicely from COVID.”
“Capital markets have continued to improve. Our equity has traded quite well post-COVID. We've also had the ability to basically refinance our entire balance sheet as rates have come in.”
“Our balance sheet is in terrific shape. We'll finish the year just under four times net leverage. We've got about a billion and a half dollars of liquidity and all of our capital improvements that we're planning we can finance from our operating cash flow.”
“We're really focused on continued growth given the supply demand dynamic that we see in our sector. There is a real opportunity for us to deploy capital at high returns to continue to drive AFFO per share.”
“With this type of capital deployment, these expansions and enhancements that we're making across our portfolio, there is some short-term capital dislocation and business disruption that we have to deal with. Our teams are managing that quite well.”
“While there is some short-term challenge and pain, the long-term value creation we think is quite compelling for shareholders.”
“On the hotel side, that is both in the group business and our hotels are primarily large convention hotels with 70% of our business's group. We're seeing strong spending there, both in terms of rate and outside the room spending in areas like banqueting.”
“As we look into the fourth quarter, we're seeing solid leisure demand with our sales up, our pace of sales up in the fourth quarter over the last year, which was a record for us.”
“From a perspective in this third quarter, we were 39% of revenue versus the third quarter of 2019, profitability was up 44%. As we look at our group business moving forward, our business end of the books for 2024 is 10% ahead of where it was at the same time last year. We're up 12% for 2025, compared to the same time l...”
“The reason we think it's sustainable is a couple of reasons. Number one, the pandemic made everyone realize you have to bring people together, particularly large groups, if you want to talk about culture, strategy, products, et cetera. So coming out of the pandemic, there was a strong move back to bringing people toget...”
“We have made significant investments in our properties since 2020. We looked at the pandemic as an opportunity to go on the offensive, and we deployed approximately $1.7 billion in capital across both our businesses, whether that's enhancements, expansions, or acquisitions in new properties.”
“Higher prices are driving returns. We are seeing, though, that business levels have returned to pre-pandemic levels. Part of the issue, we think that the pricing is sustainable, because we haven't invested in the properties. We have enhanced the product and the experience.”
Mark Fioravanti, president and CEO of Ryman Hospitality Properties, Inc. (NYSE: RHP), sat down for a video interview during ...
Mark Fioravanti, Ryman Hospitality Properties CEO, joins 'The Exchange' to discuss rising shares of the company following its ...
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