Dec. 09. 2017.
Ryman Hospitality Properties, Inc. Announces $12 Million Grand Ole Opry House Expansion
Planned Expansion to Include Improved Parking, Larger Retail Space, VIP Lounge Area and Enhanced Food and Beverage Options
NASHVILLE, Tenn. (October 16, 2017) – Ryman Hospitality Properties, Inc. (NYSE: RHP), today announced plans for a $12 million expansion to its iconic Grand Ole Opry House.
The planned expansion is designed to further enhance the Opry experience through a larger, 5,000-square- foot retail footprint, additional food and beverage options, a redesigned box office, VIP lounge area with a backstage tour theater, and approximately 1,300 surface parking spaces on undeveloped land just north of the Opry House which will add a convenient parking option for Opry customers and provide the public with additional parking during peak times.
Colin Reed, chairman and CEO of Ryman Hospitality Properties said, “As country music’s popularity continues to increase worldwide, more people than ever before are making the journey to Nashville to experience the magic of the Grand Ole Opry firsthand. This expansion will allow us to improve our guest experience before and after the shows while also providing us the opportunity to meet growing customer demand for additional Opry-themed experiences, enhanced food and beverage options and expanded tour offerings.”
Construction for the retail expansion is expected to begin in January of 2018 and is anticipated to be complete by October of 2018. The additional parking spaces are scheduled for summer 2018. The VIP lounge and relocated box office area is expected to be complete in January of 2019. The Opry House will host a full calendar of events and daily tours during construction.
This announcement is part of the Company’s continued investment in the Nashville area where it has approximately $130 million in capital projects in progress.
Reed continued, “Our investment strategy in Nashville reflects our bullishness on the appeal of our assets and this market. Donelson is an economic engine for Davidson County and Middle Tennessee, and with these enhancements at the Opry House as well as SoundWaves at Gaylord Opryland set to open in 2018, we are uniquely positioned to create additional demand for the area through high-quality, family-friendly offerings.”
