Ryman Hospitality Properties closed its previously announced underwritten public offering of 5,865,000 common shares at $117.00 each, raising about $658 million in net proceeds after underwriters exercised their option in full. The company plans to contribute the proceeds to RHP Hotel Properties, LP, which together with roughly $689 million of expected net proceeds from a separate $700 million private placement of 6.250% senior notes due 2035 and cash on hand is set to fund the approximately $1.38 billion acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes. The notes are expected to close on Aug. 25, 2026, and would be redeemed through a special mandatory redemption if the Orlando deal does not close, while the equity proceeds would then be used for general corporate purposes.