: Ryman Hospitality buys Blackstone resort in Texas for $800 mln, issues stock

Ryman Hospitality Properties Inc. RHP is down 1.6% in premarket trades Tuesday after it agreed to pay $800 million for a resort in Texas from a Blackstone Inc. BX fund, and said it would issue 3.5 million shares of stock. Ryman and Blackstone Real Estate Income Trust agreed that Ryman would purchase the JW Marriott San Antonio Hill Country Resort & Spa in San Antonio, Texas, according to a statement issued late Monday. Ryman’s stock offering will raise about $332 million based on a price of $95 a share on Tuesday morning. Blackstone stock is down 0.8% in premarket trades on Tuesday.

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