Ryman Hospitality Properties Inc. Chairman/CEO Colin Reed will transition to executive chairman of the company after more than 21 years as CEO. The company’s board of directors has appointed President Mark Fioravanti to succeed Reed as CEO, under the title president/CEO, effective Jan. 1.
Colin Reed & Mark Fioravanti
Reed’s role new role will include his responsibilities as executive chairman of the company’s board of directors and as chairman of the Opry Entertainment Group (OEG) board of directors. Reed will also focus on working with OEG strategic investor Atairos and with NBCUniversal to unlock opportunities for value creation; advancing the company’s ESG and diversity, equity and inclusion goals; and community and government affairs. He 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 said. “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.”
Since joining predecessor company Gaylord Entertainment in 2001, Reed led a strategic reorganization of the company’s holdings, divesting noncore assets and refocusing the company under its hospitality and entertainment segments. In the years that followed, the company built a portfolio of hotel assets, flagged under the Gaylord Hotels brand, which now includes five of the top 10 largest non-gaming resort and convention center hotels in the U.S. In 2012, Reed led the company through its conversion to a REIT after selling the Gaylord Hotels brand and the rights to manage its hotels to Marriott International.
In 2002, Reed recruited Fioravanti to join the company’s management team to oversee marketing as the company further refined its Gaylord Hotels brand. His roles included SVP, sales and marketing for Gaylord Entertainment; president of Gaylord Entertainment’s subsidiary ResortQuest, a position he held until 2007; and SVP/treasurer of Gaylord Entertainment. Fioravanti took on oversight of finance in 2008 and was promoted to SVP/CFO in 2009.
As the company’s EVP/CFO from 2011-2015, he was instrumental in the 2012 REIT conversion and subsequent value creation, according to the company. He was named president/CFO in 2015.
“I am grateful to Colin and my fellow board members for the opportunity to lead Ryman Hospitality Properties,” said Fioravanti. “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.”
Tags: Colin Reed, Mark Fioravanti, Ryman Hospitality Properties Inc
