Yardstick

Yardstick will open in mid-December in Berry Hill a pet care facility billed as a "boutique dog hotel.”

According to a release, the service business will be located at 2605 Grissom Drive and will offer on-site overnight supervision via local veterinary partnerships.    

The release note dogs staying overnight will sleep in spaces that minimize sound. Similarly, playrooms will be dictated by dog size and include padded flooring and access to outdoor yards.  

Services will include bath and brush treatments, dental chews and nail and ear care.

The release does not note the cost to get operational or the terms of the lease.

“We can’t wait to introduce Yardstick to Nashville this winter and welcome the city’s beloved dogs,” Dave Atkins, Yardstick co-founder and CEO, said in the release.

Ryman posts second straight quarter of profitability

Nashville-based Ryman Hospitality Properties has reported third-quarter net income of $45.2 million, or $0.79 per share, thus achieving two consecutive post-pandemic quarters of profitability.

According to a release from the lodging and hospitality real estate investment trust, and despite 5.6 fewer points of occupancy compared to Q3 2019, its hospitality segment achieved revenue of $390.6 million, a record for any third quarter. The mark was driven by “continued strength in leisure room rate and outside the room spending by groups.”

The RHP hospitality segment reported a third quarter record in operating income of $88.9 million, operating income margin of 22.8 percent, hospitality adjusted EBITDAre of $136.7 million and hospitality adjusted EBITDAre margin of 35.0 percent.

During the quarter, RHP booked more than 614,000 gross advanced group room nights for all future years, at an ADR of $252, an increase of 16.8 percent over Q3 2021 ADR for future bookings and 24.9 percent above Q3 2019 ADR for future bookings.

Subsequent to the quarter’s end, RHP announced Chairman and CEO Colin Reed will transition to executive chairman, with the board having appointed Mark Fioravanti to president and CEO, effective Jan. 1, 2023.

"Our hotel business again set multiple records in the third quarter, eclipsing marks set in the second quarter of this year,” Reed said in the release. “These results demonstrate not only the broad strength of our business, but also the value of the strategic investments we made over the past several years, including those we made during the pandemic.

"The rebound of group travel, alongside continued healthy leisure demand, validates our business model, and has allowed us to achieve strong ADR for the year through the third quarter, mitigating increasing costs in the current inflationary environment,” Reed added.

Cryoport battles tough Q3 with slight revenue uptick

Nashville-based Cryoport Inc. has announced revenue for the third quarter was $60.5 million compared to $56.7 million for the same period of 2021, a year-over-year increase of 7 percent.

According to a release, the company, which provide temperature-controlled supply chain services to the life sciences industry, saw its biopharma/pharma revenue increase to $48.6 million for the quarter, up 6 percent or $2.6 million, compared to $46million for the Q3 of last year.

Total revenue for the nine months ended Sept. 30 increased to $176.9 million compared to $166.2 million for the same period in 2021, a year-over-year increase of 6 percent, or $10.8 million. The release notes revenue for the nine months was adversely impacted by approximately $9.4 million during the first quarter of 2022 from a fire at Cryoport’s New Prague, Minnesota, manufacturing facility.

"Like many companies that operate globally, we were subject to macroeconomic headwinds during the third quarter and expect some of these pressures will extend into the fourth quarter,” Jerrell Shelton, CEO of Cryoport, said in the release.

“Specifically, during the third quarter, we experienced a convergence of macroeconomic pressures that impacted revenue including: a negative foreign exchange impact of $2.6 million due to the increased strength of the U.S. dollar against certain foreign currencies; recurring COVID lockdowns in China; supply chain related issues; the Russia/Ukraine war and its ripple effect throughout Europe; and industry capacity limitations, which interfered with cell and gene therapy commercial revenue acceleration."

Shelton said Cryoport’s third quarter numbers were impacted by a “shift in cryogenic freezer sales through distributors to smaller, lower-cost units as customers became more reserved in regard to capital purchases.”

“The shift in the third quarter was sharp and is likely tied to concerns about the general economic environment,” he said. “As of now, we see this purchasing trend continuing in the fourth quarter, but we remain confident that the life sciences market fundamentals are sound and will continue to drive long-term demand for our comprehensive set of products and services.”

Send info to wwilliams@nashvillepost.com.