Ryman Hospitality Properties Inc. (RHP) reported that its fourth-quarter loss from continuing operations was $14.9 million, or $0.32 per share compared to income from continuing operations of $5.1 million, or $0.10 per share, in the prior-year quarter.
Loss from continuing operations for the fourth quarter of 2012 included $44.2 million in pretax expenses related to the Company's conversion to a REIT and the impact of a $20 million pretax gain on the sale of brand rights to Marriott.
Income from continuing operations in the fourth quarter of 2011 included a non-cash pre-tax charge of $4.7 million to dispose of fixed assets related to the development of new resort pools and a room renovation at Gaylord Palms.
Consolidated revenue for the fourth quarter of 2012 of $266.3 million was slightly favorable compared to the prior-year quarter consolidated revenue of $265.5 million, as adjusted to reflect the elimination of $3.9 million in retail revenues from the prior-year period from functions that were outsourced in 2012, or a 1.1 percent decrease from prior-year quarter consolidated revenue of $269.4 million without such adjustment.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $282.01 million for the quarter. Analysts' estimates typically exclude special items.
by RTT Staff Writer
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