Ryman Hospitality Properties is weighing selling its majority stake in a legendary country music entertainment and media company with historic venues responsible for hosting big-time artists like Luke Combs, Taylor Swift and Dolly Parton.
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The REIT is exploring the idea of selling its 70% controlling ownership interest in Opry Entertainment Group, which owns the Grand Ole Opry House in Nashville, Bloomberg first reported.
To do so, Ryman tapped Morgan Stanley, Ryman Executive Chairman Colin Reed said in a statement Thursday.
"We have previously shared our view that enabling OEG to operate outside of our REIT structure over time is important for its long-term growth trajectory, and we believe strategic partnerships can further support its growth," Reed said. "With the rise in global popularity of country music and the increasing demand for live experiences, we have received inbound interest from a range of organizations seeking to partner with our entertainment business."
The Nashville-based company hasn’t entered into any agreements, and a sale isn’t set in stone.
Ryman owns more than 12,000 hotel rooms and more than 3M SF of indoor and outdoor meeting space across its lodging and hospitality assets, which include hotels like the Gaylord Palms Resort & Convention Center and Gaylord Texan Resort & Convention Center.
Through Opry Entertainment Group, valued at $1.4B as of 2022, it owns various assets and brands in the country music world that would be up for sale.
That includes the Grand Ole Opry and the more than 100-year-old country music radio station that operates inside of it, WSM 650 AM. Also in the portfolio is the Ryman Auditorium, a 2,362-seat, 134-year-old performance venue and museum often referred to as the “Mother Church of Country Music,” which gave the REIT its name.
Ryman originally had full ownership in the entertainment and media company but sold a 30% stake to Atairos and NBCUniversal for $296M in June 2022.
In a first-quarter earnings call held in May, Ryman reported its revenue was up 13% year-over-year to $664M.
Shares in the REIT were up 0.3% to $130 Thursday morning and are up more than 34% so far in 2026.
