Ryman Hospitality Properties, Inc. (RHP): Business Model Canvas

Key Partnerships

At Ryman Hospitality Properties, Inc., our business model relies heavily on establishing and maintaining key partnerships with various organizations in the entertainment, hospitality, and tourism industries. These partnerships play a crucial role in our ability to create unique experiences for our guests and drive revenue growth for our company. Here are some of the key partnerships that we have cultivated:

• We work closely with large event organizers to host major conferences, conventions, trade shows, and other events at our properties. These partnerships help us attract high-profile events that draw large numbers of attendees and generate significant revenue for our business.

• As a company that has deep roots in country music, we have established strong relationships with country music promoters and artists. These partnerships enable us to host live music events, concerts, and other entertainment experiences that appeal to our guests and enhance their overall experience.

• We have partnered with major hospitality chains to provide our guests with access to premium lodging options and amenities. These partnerships allow us to offer a diverse range of accommodations at our properties, catering to the needs and preferences of different guests.

• We collaborate with local and state tourism boards to promote our properties as top destinations for leisure and business travelers. These partnerships help us leverage the marketing and promotional resources of tourism boards to attract more visitors to our properties and boost overall occupancy rates.

Key Activities

Ryman Hospitality Properties, Inc. is engaged in a variety of key activities that contribute to its success as a leading hospitality company. These activities include:

• Managing large-scale event spaces: RHP manages and operates iconic event spaces such as the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee. These spaces host a wide range of events including conventions, trade shows, and corporate meetings.
• Organizing country music events and concerts: RHP is known for its expertise in organizing and hosting country music events and concerts. The company owns the historic Ryman Auditorium, which is known as the 'Mother Church of Country Music' and hosts live performances by top country artists.
• Operating upscale hotel properties: RHP operates a portfolio of upscale hotel properties, including the Gaylord Hotels brand. These hotels offer luxurious accommodations, fine dining, and world-class amenities to guests.
• Providing premium hospitality services: RHP is committed to providing premium hospitality services to its guests. This includes exceptional customer service, personalized experiences, and attention to detail in every aspect of the guest experience.

Key Resources

Prime real estate for hotels and entertainment venues: Ryman Hospitality Properties, Inc. (RHP) boasts a portfolio of prime real estate locations in key entertainment hubs such as Nashville and Orlando. These locations serve as the foundation for the company's hotels and entertainment venues, providing a strategic advantage in attracting visitors and hosting events.

Skilled workforce in hospitality and event management: RHP has a dedicated team of professionals with expertise in hospitality and event management. From hotel operations to concert production, this skilled workforce ensures that all aspects of the business run smoothly and efficiently, providing guests with a top-notch experience.

Strong brand reputation in country music themed entertainment: With iconic venues such as the Grand Ole Opry and the Ryman Auditorium under its belt, RHP has built a strong brand reputation in country music themed entertainment. This reputation not only attracts visitors seeking an authentic music experience but also sets RHP apart from competitors in the industry.

Advanced event technology systems: RHP invests in state-of-the-art event technology systems to enhance the guest experience and streamline event operations. From ticketing platforms to audiovisual equipment, these advanced systems ensure that events run smoothly and efficiently, setting RHP apart as a leader in the industry.

Value Propositions

Ryman Hospitality Properties, Inc. (RHP) prides itself on offering a unique blend of entertainment and hospitality that sets it apart from traditional hotel chains. With a strong focus on integrating live music, dining, and accommodations, RHP delivers exclusive country music themed experiences that cater to music enthusiasts and tourists alike.

• Exclusive Country Music Themed Experiences: RHP properties are known for their immersive country music experiences, including live performances by top artists, themed restaurants, and music memorabilia displays. Guests have the opportunity to connect with the rich history and culture of country music in a way that is not available at other hotels.
• Premium Hotels and Amenities: RHP properties offer luxurious accommodations with top-notch amenities such as spas, fitness centers, and upscale dining options. Guests can enjoy a high level of comfort and convenience during their stay, ensuring a memorable experience.
• Central locations in Tourist-Favored Cities: RHP strategically selects prime locations in popular tourist destinations such as Nashville, Pigeon Forge, and Orlando. By situating properties in these bustling cities, RHP ensures that guests have easy access to local attractions, entertainment venues, and cultural experiences.

Customer Relationships

Ryman Hospitality Properties, Inc. (RHP) places a strong emphasis on building and maintaining relationships with its customers to ensure a positive and memorable experience. The company offers personalized guest services to cater to the individual needs and preferences of each guest. Whether it's arranging special accommodations or providing recommendations for dining and entertainment options, RHP goes above and beyond to make each guest feel valued and appreciated.

RHP also offers loyalty programs for returning visitors, incentivizing customers to choose their properties for future stays. These programs offer perks such as discounted rates, exclusive access to events, and complimentary upgrades, encouraging repeat business and fostering a sense of loyalty among guests.

When it comes to customer service for event and hotel bookings, RHP prides itself on being responsive and accommodating. Whether customers are seeking information about hosting a conference or booking a room for a weekend getaway, the RHP team is readily available to assist and provide guidance throughout the booking process.

In addition to traditional customer service channels, RHP engages with its customers through social media and digital platforms. By actively participating in online conversations, responding to feedback, and sharing updates about upcoming events and promotions, RHP maintains a strong online presence and stays connected with its customer base.

• Personalized guest services: RHP offers customized services to meet the unique needs of each guest, enhancing the overall experience.
• Loyalty programs: RHP rewards returning visitors with exclusive perks, encouraging continued support and patronage.
• Responsive customer service: RHP provides timely and helpful assistance for event and hotel bookings, ensuring a smooth and seamless experience for customers.
• Engagement through social media: RHP stays connected with customers through social media and digital platforms, sharing updates and interacting with online communities.

Channels

Ryman Hospitality Properties, Inc. (RHP) utilizes a variety of channels to reach customers and drive bookings for their hospitality and entertainment properties. These channels include:

• Online booking platforms: RHP partners with popular online booking platforms such as Expedia, Booking.com, and Airbnb to reach a wide audience of travelers looking for accommodations. This allows RHP to tap into the online travel market and attract guests who may not have otherwise considered staying at one of their properties.
• Direct reservations through own website: RHP also encourages customers to book directly through their own website. This allows them to have more control over the booking process and build a direct relationship with their guests. By offering incentives such as discounts or special packages, RHP incentivizes customers to book directly and cut out the middleman.
• Partnership with travel agencies: RHP has partnerships with travel agencies both locally and internationally to expand their reach and attract customers from different markets. These travel agencies help promote RHP properties to their clients and drive bookings through their established networks.
• Physical and digital ticket sales for events: In addition to accommodations, RHP also offers a wide range of entertainment options such as concerts, shows, and events. Customers can purchase tickets for these events through physical ticket counters at the properties or through digital sales channels. By offering a diverse range of entertainment options, RHP is able to attract a broader audience and increase revenue from ticket sales.

Customer Segments

Ryman Hospitality Properties, Inc. (RHP) caters to a variety of customer segments in the entertainment and hospitality industry:

• RHP's core customer segment is country music enthusiasts who are drawn to Nashville's rich musical history.
• These customers are looking for unique experiences such as live performances, Nashville-themed restaurants, and guided tours of iconic music venues.

• RHP attracts corporate clients looking to host events, conferences, and retreats in Nashville.
• These clients benefit from RHP's state-of-the-art event spaces, luxury accommodations, and world-class entertainment options.

• Tourists visiting Nashville are a key customer segment for RHP, as they seek authentic Southern hospitality and memorable experiences.
• RHP offers tourists a range of options including guided tours, live music performances, and themed hotels that immerse them in Nashville's vibrant culture.

• Local residents in Nashville and surrounding areas are also important customers for RHP, as they attend concerts, festivals, and other events hosted by the company.
• RHP engages with local residents through community events, loyalty programs, and discounts for frequent visitors.

Cost Structure

Ryman Hospitality Properties, Inc. faces a significant cost structure in managing its hotels and venues. These costs include:

• High operational costs: Managing hotels and venues require a substantial investment in operational expenses such as utilities, property taxes, insurance, and other day-to-day expenses.
• Marketing and promotional expenses: To attract customers to its properties, RHP needs to invest in marketing and promotional activities to create awareness and drive bookings.
• Staffing and maintenance: RHP incurs costs in hiring and retaining qualified staff to manage event spaces and lodging facilities. Additionally, maintaining the properties to meet high-quality standards requires ongoing investment in upkeep and renovation.
• Investments in technology: In today's digital age, providing a seamless and enjoyable customer experience requires investments in technology. RHP may need to invest in software, hardware, and infrastructure to enhance its services and stay competitive in the market.

These cost considerations are crucial for RHP to ensure operational efficiency and profitability in its business model.

Revenue Streams

Ryman Hospitality Properties, Inc. (RHP) generates revenue through various streams that contribute to the overall success of the business. These revenue streams are diversified to ensure stability and growth for the company.

• Revenue from hotel bookings: One of the key revenue streams for RHP is the revenue generated from hotel bookings at their various properties such as Gaylord Hotels. Guests staying at these hotels contribute to the company's revenue through room rates, dining, and other services offered.
• Ticket sales for events and concerts: RHP owns and operates entertainment venues such as the Grand Ole Opry and Ryman Auditorium, where they host a variety of events and concerts. Revenue is generated through ticket sales for these events, with prices varying based on the artist or performance.
• Fees from hosting corporate events and conferences: RHP is a popular choice for hosting corporate events, conferences, and meetings due to their state-of-the-art facilities and expertise in event management. The company charges fees for hosting such events, which contribute to their revenue stream.
• Merchandising and ancillary services: In addition to their core services, RHP also generates revenue through merchandising sales at their properties, such as souvenirs, apparel, and other merchandise. Ancillary services such as spa treatments, dining experiences, and tours also contribute to the revenue stream.