Ryman Hospitality Properties, Inc. (NYSE:RHP) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET
Company Participants
Jennifer Hutcheson – Executive Vice President and Chief Financial Officer
Colin Reed – Chief Executive Officer
Mark Fioravanti – President
Patrick Chaffin – Executive Vice President and Chief Operating Officer
Conference Call Participants
Shaun Kelley – Bank of America
Chris Woronka – Deutsche Bank
Bill Crow – Raymond James
Dori Kesten – Wells Fargo
Smedes Rose – Citi
Jay Kornreich – SMBC
Operator
Welcome to Ryman Hospitality Properties Third Quarter 2022 Earnings Conference Call. Hosting the call today from Ryman Hospitality Properties are Mr. Colin Reed, Chairman and Chief Executive Officer; Mr. Mark Fioravanti, President, Ms. Jennifer Hutcheson, Chief Financial Officer; and Mr. Patrick Chaffin, Chief Operating Officer. This call will be available for digital replay. The number is (800) 839-6798 with no conference ID required. At this time, all participants have been placed on listen-only mode.
It is now my pleasure to turn the floor over to Ms. Jennifer Hutcheson. Ma'am, you may begin.
Jennifer Hutcheson
Good morning. Thank you for joining us today. This call may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the company's expected financial performance. Any statements we make today that are not statements of historical fact may be deemed to be forward-looking statements. Words such as believes or expects are intended to identify these statements, which may be affected by many factors, including those listed in the company's SEC filings and in today's release. The company's actual results may differ materially from the results we discuss or project today. We will not update any forward-looking statements, whether as a result of new information, future events or any other reason. We will also discuss non-GAAP financial measures today. We reconcile each non-GAAP financial measure to the most comparable GAAP measure and exhibits to today's release.
I will now turn the call over to Colin.
Colin Reed
Thanks, Jen, and good morning, everyone. The third quarter was another exceptional period for our company, setting and surpassing several records just as we did last quarter. At the highest level, this was the best third quarter performance ever for total revenue, total adjusted EBITDAre, total adjusted EBITDAre margin for our Hospitality segment. And notice I did not include occupancy on that list. That is what is impressive as our hotels delivered $62 million more in revenue, $28 million more in adjusted EBITDAre, despite 5.6 fewer points of occupancy compared to the last pre-pandemic third quarter of 2019.