Ryman Hospitality Properties Announces Leadership Transition Going Into 2023
Colin Reed & Mark Fioravanti
Ryman Hospitality Properties Chairman and Chief Executive Officer Colin Reed will transition to Executive Chairman of the company after more than 21 years as CEO. President Mark Fioravanti has been appointed to succeed Reed as CEO under the title President and Chief Executive Officer, effective Jan. 1, 2023.
In Reed’s new role, he will serve as Executive Chairman of the company’s Board of Directors and as Chairman of the Opry Entertainment Group (OEG) Board of Directors. He will also focus on working with OEG strategic investor Atairos and NBCUniversal to unlock opportunities for value creation; advancing the company’s ESG and diversity, equity and inclusion goals; and community and government affairs. Reed will continue his role with artist and shareholder relations alongside Fioravanti.
“It has been my honor to lead this company for over two decades as we transformed our business into the hospitality and entertainment powerhouse it is today,” Reed notes. “With our businesses operating at record or near-record levels of performance and another strong year on the horizon, this is an ideal time for me to transition into a new role. I would like to thank our employees, board members, shareholders, customers, and our many beloved Opry members for their support and confidence in me over the past 21 years. We have built a truly magnificent business, and I am eager to work toward its continued success in the years ahead.”
Since joining predecessor company Gaylord Entertainment in 2001, Reed has led a strategic reorganization of the company’s holdings. In the following years, the company built a portfolio of hotel assets under the Gaylord Hotels brand, which now includes five of the top 10 largest non-gaming resort and convention center hotels in the United States. In 2012, Reed led the company through its conversion to a Real Estate Investment Trust (REIT) after selling the Gaylord Hotels brand to Marriott International.
In 2002, Reed recruited Fioravanti to join the management team to oversee marketing as the company further refined its Gaylord Hotels brand. His roles included Senior Vice President of Sales and Marketing for Gaylord Entertainment; President of Gaylord Entertainment’s subsidiary ResortQuest; and SVP and Treasurer of Gaylord Entertainment. Fioravanti took on oversight of Finance in 2008 and was promoted to SVP and CFO in 2009 after helping the company successfully navigate the 2008 financial crisis.
As the company’s Executive Vice President and CFO from 2011 to 2015, Fioravanti was instrumental in the 2012 REIT conversion and subsequent value creation. Since then, Fioravanti has overseen initiatives to strengthen the company’s balance sheet, strategically deploy capital for future growth and generate meaningful shareholder returns. He was named President and CFO in 2015.
Fioravanti played an important role in managing the company’s response to the COVID-19 crisis and, most recently, played a leading role in securing a minority interest strategic investor for the company’s growing OEG segment. Fioravanti joined the company’s Board of Directors in February.
“I am grateful to Colin and my fellow Board members for the opportunity to lead Ryman Hospitality Properties,” Fioravanti shares. “I have the privilege of entering this role with a long-tenured management team that shares my passion for these unique businesses. Together with my team, I look forward to continuing to work to shape our vision, support our employees and create value for all our stakeholders.”
