Strategic Investments and Record Group Bookings
The company has embarked on a multiyear transformational capital program, focusing on investments in Gaylord Opryland and Gaylord Rockies to attract high-rated corporate group business. They reported record group bookings with 1.3 million same-store gross group room nights in Q4, surpassing the prior year by 5% at a record ADR of $284.
Consolidated Revenue and EBITDAre Growth
Despite some challenges, the full year of 2024 saw consolidated revenue growth of 8%, consolidated adjusted EBITDAre growth of 10%, and AFFO growth of 12%.
Performance of Entertainment Segment
The entertainment segment reported record revenue of $98 million in the fourth quarter, an increase of approximately 12% year over year. Adjusted EBITDAre increased by approximately 6%, with Old Red Las Vegas surpassing expectations.