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Ryman Hospitality Says Its Business Impacted By COVID-19; Withdraws FY Outlook

Ryman Hospitality Properties Inc. (RHP) said its hospitality business had incurred about 14,000 cancelled net room nights which it believed were attributable to COVID-19.

In an update on the impact of the COVID-19 virus, the company said its hospitality business experienced total attrition and cancellations of about 77,000 net room nights for the week ended March 7, 2020, representing about $40 million of revenue. About 75% of the impact is for March 2020 and about 25% is for April 2020.

The company noted that the recent pace of cancellation activity associated with COVID-19 creates a great deal of uncertainty regarding its operating performance for the remainder of 2020. The company is not able to accurately assess the potential impact on its full-year operating results. So, the company has withdrawn its full business performance outlook for 2020.

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