Lodging and hospitality real estate investment trust Ryman Hospitality Properties shared changes to its leadership structure on Tuesday, according to a news release.
Chairman and CEO Colin Reed will move to executive chairman of the Nashville, Tennessee-based company. Beginning Jan. 1, current Ryman Hospitality Properties President Mark Fioravanti will transition to president and CEO of the company.
Reed was CEO for more than 21 years.
His new roles will include responsibilities as executive chairman of Ryman's board of directors and as chairman of the Opry Entertainment Group Board of Directors. Additionally, he will take part in advancing the company's environmental, social and governance initiatives as well as its diversity, equity and inclusion goals.
Fioravanti was recruited by Reed to join the company's management team in 2002. His past roles include senior vice president of sales and marketing for Gaylord Entertainment; president of Gaylord Entertainment's subsidiary ResortQuest; senior vice president and treasurer of Gaylord Entertainment; and senior vice president and chief financial officer.
In 2012, Reed led Ryman through its conversion into a real estate investment trust after selling the Gaylord Hotels brand and rights to manage its hotels to Marriott International.
"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 in the news release.
Ryman Hospitality Properties specializes in upscale convention center resorts and country music entertainment venues. Its five core holdings include the Gaylord Opryland Resort & Convention Center, Gaylord Palms Resort & Convention Center, Gaylord Texan Resort & Convention Center, Gaylord National Resort & Convention Center and Gaylord Rockies Resort & Convention Center.