Ryman Hospitality Properties, Inc. (NYSE:RHP) Q1 2024 Earnings Conference Call May 2, 2024 1:00 PM ET
Company Participants
Jennifer Hutcheson - Chief Financial Officer
Colin Reed - Executive Chairman
Mark Fioravanti - President & Chief Executive Officer
Patrick Chaffin - Chief Operating Officer
Patrick Moore - Chief Executive Officer, Opry Entertainment Group
Conference Call Participants
Chris Woronka - Deutsche Bank
Bill Crow - Raymond James
Smedes Rose - Citi
Shaun Kelley - Bank of America
Dori Kesten - Wells Fargo
Jay Kornreich - Wedbush Securities
Operator
Welcome to Ryman Hospitality Properties First Quarter 2024 Earnings Conference Call. Hosting the call today from Ryman Hospitality Properties are Mr. Colin Reed, Executive Chairman; Mr. Mark Fioravanti, President and Chief Executive Officer; Ms. Jennifer Hutcheson, Chief Financial Officer; Mr. Patrick Chaffin, Chief Operating Officer; and Mr. Patrick Moore, Chief Executive Officer of Opry Entertainment Group.
This call will be available for digital replay. The number is 800-839-7414 with no conference ID required. At this time, all participants have been placed on a listen only mode.
It's 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 facts may be deemed to 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, further events or any other reason. We will also discuss non-GAAP financial measures today. We reconcile each non-GAAP measure to the most directly comparable GAAP measure in exhibits to today's release.
I will now turn the call over to Colin.
Colin Reed
Thank you, Jen, and good afternoon, everyone. Let me start this afternoon's discussion about our first quarter results by first reminding you what an incredible first quarter we had in ‘19, in 2023. Last year's first quarter was the best first quarter for same store hospitality ADR, revenue and adjusted EBITDAre. and same store hospitality banquet, and AV revenue was the highest on record of any quarter. Production was also strong with record first quarter gross group, ADR booked for all future years.