Ryman Hospitality Purchases Texas Property That Houses ‘Austin City Limits’

Ryman Hospitality Properties

RYMAN HOSPITALITY PROPERTIES, parent company of Country WSM-A/NASHVILLE and the GRAND OLE OPRY, has revealed plans to purchase the downtown AUSTIN, TX mixed use entertainment, retail, office and lodging complex BLOCK 21 from STRATUS PROPERTIES for $275 million. BLOCK 21 is home to the 2,750-seat MOODY THEATER, the filming location of the city’s iconic “AUSTIN CITY LIMITS” television series.

Located on an entire city block in AUSTIN’s’s 2nd Street District, BLOCK 21 is also home to the 251-room W AUSTIN HOTEL, the 350-seat 3TEN at ACL LIVE club and approximately 53,000 square feet of other commercial space. The acquisition is expected to close in the first quarter of 2020.

RYMAN HOSPITALITY CHAIRMAN/CEO COLIN REED said, “BLOCK 1 is a one-of-a-kind asset anchored by a world-class theater in one of the most vibrant and culturally significant music destinations in the country. We believe ACL LIVE, along with the entire BLOCK 21 complex, is a natural complement to our portfolio of iconic entertainment and media assets. Through this acquisition, we have the opportunity to build a relationship with the millions of music lovers who visit AUSTIN each year that will allow us to cross-promote our brands to a new, but related customer. We also believe there are significant opportunities to create content that will position AUSTIN and BLOCK 21 as a must-visit destination for Country lifestyle consumers through our new TV platform, CIRCLE, which is set to launch in early 2020.”

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