Project Accepted to Accomplish 1,287 Full-Time Agnate Architecture Jobs and 699 Full-Time Agnate Permanent Jobs Upon Opening
Completed Action Estimated to Admission Accompaniment and Bounded Tax Acquirement by $4.6 Actor Annually
NASHVILLE, Tenn., Jan. 25, 2017 (GLOBE NEWSWIRE) — Ryman Accommodation Properties, Inc. (NYSE:RHP), a abode absolute acreage advance assurance (“REIT”) specializing in group-oriented, destination auberge assets in burghal and resort markets, today appear affairs for a proposed $90 actor advance to actualize SoundWaves, a affluence indoor/outdoor waterpark, adjoining to Gaylord Opryland Resort & Assemblage Center in Nashville, Tenn.
The proposed action includes about 111,000 aboveboard anxiety of flush calm baptize attractions and activities over three levels and accession 106,000 aboveboard anxiety of alfresco baptize amenities. The Company retained acclaimed accommodation architecture close Blur Workshop to advance the abstraction for the project, which will accept committed calm and alfresco amusement zones for adults, adolescent accouchement and families, as able-bodied as dining options and clandestine cabana rentals. Developed guests will accept absolute admission to adults-only calm and alfresco pools, confined and lounging areas throughout the complex. The calm attractions will be amid beneath a aerial atrium, a authentication of the Gaylord Hotels brand, and amidst by lush, close landscaping.
Year-round calm attractions accommodate an calm accelerate belfry with slides alignment from 32-to-46-feet tall, a bifold breeze rider, accelerated and apathetic rivers, an action basin with bedrock aggressive and added appearance to be appear as the action progresses. Seasonal alfresco appearance accommodate a 315,000 gallon beachcomber basin with a behemothic LED cine screen, a 45.5-foot accelerate tower, an adults-only basin and a kids basin with a multi-level comedy structure.
Colin Reed, administrator and arch controlling administrator of Ryman Accommodation Properties, said, “Gaylord Opryland has been a active force for assemblage and leisure biking to the Nashville bazaar for decades. We appearance this action as a amazing befalling to added adhesive Nashville’s must-visit cachet with a one-of-a-kind advantage that will address to accumulation barter while additionally confined as a above appeal inducer for families and developed leisure guests attractive for flush amusement options. We accept this action will drive added outside-the-room spending and added credibility of premium-rated brief control by adorable visitors to extend their break in Nashville.”
Tentatively slated to accessible in abatement 2018, the SoundWaves action is estimated to accomplish cogent bread-and-er appulse for Metro Nashville and the Accompaniment of Tennessee, according to an bread-and-er appulse abstraction conducted by Dr. William F. Fox at the University of Tennessee’s Boyd Center for Business and Bread-and-er Research. The abstraction estimated that the proposed SoundWaves action will accomplish 1,287 full-time agnate acting jobs, $185 actor in bread-and-er appulse and a ancient admission of $8.4 actor in accompaniment and bounded taxes during its planned 20-month architecture phase.
According to the study, already the proposed action is operational, SoundWaves is accepted to aftermath a total, anniversary bread-and-er achievement of $57.1 million, actualize 699 full-time agnate jobs and admission accompaniment and bounded tax acquirement by $4.6 actor annually. These abstracts are in accession to Gaylord Opryland’s accepted estimated anniversary appulse to the Tennessee abridgement of $866.5 actor and $70.7 actor in accompaniment and bounded tax acquirement (based on 2015 tax data).
“Our burghal is advantageous to accept a active tourism and accommodation industry that creates affection jobs for association and generates tax revenues that armamentarium schools and added basic services,” said Nashville Mayor Megan Barry. “Continued advance in all areas of the city, such as the action Ryman Accommodation Properties is planning, is basic to our success as a affable burghal for tourists as able-bodied as an ideal abode to live, assignment and play. This park, already completed, will not alone actualize jobs and accomplish acquirement at the Gaylord Opryland Resort & Assemblage Center but additionally will enhance and account the Donelson economy, abnormally forth the Music Valley corridor.”
The proposed project’s $90 actor amount will be adjourned with banknote on duke and borrowings beneath the Company’s acclaim facility. The Company has requested that The Metropolitan Government of Nashville and Davidson County authorize a acquittal in lieu of taxes, or PILOT, adjustment beneath which the absolute acreage taxes of the Gaylord Opryland Resort will, afterward the 2017 acreage tax reassessment, be capped at that new akin for eight years. The Company additionally has requested that Metro Nashville extend the absolute allotment of the one percent auberge control tax generated alone by the Gaylord Opryland Resort, accustomed in 2010 for use in the Grand Ole Opry House flood adjustment and remediation efforts, for an added six years to balance the Company for added unreimbursed costs associated with these flood remediation efforts.
Reed continued, “As the added better acreage aborigine in Davidson County, the acceding we are gluttonous with Metro Nashville would allow our Company a admeasurement of adequation with commendations to approaching tax obligations on our Opryland bindle as able-bodied as the befalling to, over time, account some of our initial, upfront investment. The anatomy we are proposing makes it accessible for us to accomplish this cogent $90 actor basic advance in the Nashville breadth that will aftermath new jobs and accomplish abundant added tax acquirement for our accompaniment and bounded government.”
The Company has additionally proposed that it accord to Metro Nashville a bindle of acreage with absolute admission to the Cumberland River for use in the East Bank Greenway arrangement as a ablution breadth for claimed aircraft and added baptize activities.
“This proposed acreage donation will accommodate a key admission point to the Cumberland River for the Donelson association and all Nashville association and visitors,” said District 15 Metro Nashville Council Member Jeff Syracuse. “This admission is article Metro Parks and Ryman Accommodation Properties accept basic to accomplish accessible to the accessible for some time, and I am captivated that Ryman Accommodation Properties intends to accomplish this donation for neighbors to adore as allotment of their connected advance in the Donelson area.”
PROJECT RENDERINGS: Please appointment www.rymanhp.com/soundwaves
About Ryman Accommodation Properties, Inc. Ryman Accommodation Properties, Inc. (NYSE:RHP) is a REIT for federal assets tax purposes, specializing in group-oriented, destination auberge assets in burghal and resort markets. The Company’s endemic assets accommodate a arrangement of four upscale, meetings-focused resorts accretion 7,811 apartment that are managed by abode operator Marriott International, Inc. under the Gaylord Hotels brand. Added endemic assets managed by Marriott International, Inc. accommodate Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow auberge adjoining to Gaylord Opryland and AC Auberge Washington, DC at National Harbor, a 192-room auberge a Gaylord National. The Company additionally owns and operates media and ball assets, including the Grand Ole Opry (opry.com), the allegorical account advertise of country music’s finest performers for over 90 years; the Ryman Auditorium, the acclaimed above home of the Grand Ole Opry amid in downtown Nashville; and 650 AM WSM, the Opry’s radio home. For added advice about Ryman Accommodation Properties, visit www.rymanhp.com.
Cautionary Note Apropos Forward-Looking StatementsThis columnist absolution contains statements as to the Company’s behavior and expectations of the aftereffect of approaching contest that are advanced statements as authentic in the Clandestine Securities Litigation Reform Act of 1995. You can analyze these statements by the actuality that they do not chronicle carefully to absolute or accepted facts. Examples of these statements include, but are not bound to, statements apropos the approaching achievement of our business, estimated basic expenditures. These advanced statements are accountable to risks and uncertainties that could account absolute after-effects to alter materially from the statements made. Added factors that could account operating and banking after-effects to alter are declared in the filings fabricated from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and accommodate the accident factors and added risks and uncertainties declared in the Company’s Anniversary Report on Form 10-K for the budgetary year ended December 31, 2015 and its Quarterly Reports on Form 10-Q and consecutive filings. The Company does not undertake any obligation to absolution about any revisions to advanced statements fabricated by it to reflect contest or affairs occurring afterwards the date hereof or the accident of hasty events.
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