Ryman Hospitality still burning through millions each month in cash reserves
NASHVILLE, Tenn. (Mike Osborne) — There was a sobering reminder this week of just how badly mid-state businesses have been hurt by the pandemic.
Ryman Hospitality’s Gaylord Opryland is one of Nashville’s largest employers. The company also owns Ryman Auditorium, The Grand Ole Opry, and WSM-AM radio.
Ryman released its third quarter financial statement on Tuesday.
The company revealed its burning through nearly $23 million dollars in cash reserves each month thanks to lost business. That’s an improvement over the second quarter when Ryman was losing more than $31 million a month.
On the plus side, the Ryman says the number of guest rooms nights sold has improved 53 percent since its hotels were shuttered in April by the pandemic.