Ryman Auditorium Owner Explores OEG Stake Sale

Ryman Hospitality Properties (RHP) has reportedly engaged Morgan Stanley to explore options for selling a portion of its Opry Entertainment Group (OEG). OEG's portfolio includes renowned venues such as The Grand Ole Opry House and the historic Ryman Auditorium.

Speculation suggests RHP might be looking to sell up to 70% of OEG. The company confirmed it is considering strategic partnerships to foster OEG's long-term growth, driven by increasing global popularity of country music and live entertainment.

RHP stated that while they have received inbound interest, no definitive agreements have been reached. They anticipate playing a key role in OEG's future regardless of any partnerships formed. OEG's assets also include radio station WSM 650 AM, Blake Shelton's Ole Red, and other properties.

This move aligns with RHP's previous views on allowing OEG to operate outside its REIT structure to support expansion. RHP also owns several Gaylord and JW Marriott properties.