RHP engages Morgan Stanley to evaluate strategic partnerships for its Opry Entertainment Group amid strong live experience demand.
Ryman Hospitality Properties (NYSE:RHP) is assessing potential partnerships for its Opry Entertainment Group (OEG) after receiving inbound interest. The company cited global demand for country music and live experiences as key drivers for the evaluation, which will be led by Morgan Stanley & Co. LLC.
BMO Capital recently raised its price target on RHP to $137 from $125, citing strong RevPAR performance and moderating hotel prices. Raymond James also lifted its target to $125 from $120 earlier in June, reflecting updated lodging REIT models post-Q1 earnings.
Ryman Hospitality emphasized its commitment to OEG’s growth, regardless of any strategic partnerships. The company’s focus on live entertainment aligns with broader industry trends favoring experiential offerings.