Reed, Ryman see strong trends through ’25

Ryman Hospitality Properties Chairman and CEO Colin Reed says the continued rollout of COVID-19 vaccines could set up the owner of the Gaylord Hotels brand for a “decent second half” as business meetings and conferences make a return. But a truly strong return, he told analysts and investors Friday, looks to be in the works next year and carry through at least 2025.

Nashville-based Ryman Hospitality has rebooked nearly 60 percent of the room nights customers have canceled since the start of the pandemic a year ago. (Clients who haven’t rebooked paid the company nearly $33 million in fees last year, primarily for rooms that had been on the books for 2021.) That still leaves Ryman short of trend for this year, but Reed said Friday that his sales team has booked nearly 41 percent of available 2022 rooms, which is just two points shy of where the company typically has been. That booking trend, he added, is looking solid all the way out to meetings in 2025, suggesting a real sense of optimism among meeting planners.