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Ryman Hospitality ups stake in Gaylord Rockies JV

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Ryman Hospitality ups stake in Gaylord Rockies JV

Ryman Hospitality Properties Inc., in reporting its second-quarter results, disclosed that it paid $5.5 million, net of closing true-ups, for a 0.9% stake in the Gaylord Rockies joint venture from an Ares Management LP affiliate.

The hotel real estate investment trust owns a 62.1% stake in the joint venture following the transaction. The venture owns the Gaylord Rockies Resort & Convention Center in Colorado.

The Ares affiliate also sold its remaining 0.5% stake in the venture to a RIDA Development Corp. affiliate.