Ryman Hospitality has backed out of a $283 million deal to purchase a mixed-use property that includes the 2,500-seat Austin City Limits Live at the Moody Theater.

On May 22, Ryman Hospitality announced that it had terminated its agreement with Stratus Properties, Inc. to purchase the Block 21 mixed-use development in Austin. “In the current capital markets and economic environment caused by the COVID-19 pandemic, we have determined that it is not in the best interest of our shareholders to focus our resources and capital on this project at this time," said chairman and CEO of Ryman Hospitality Properties Colin Reed in a release. "We sincerely regret that the current circumstances do not permit us to complete the acquisition.

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India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
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Ryman Hospitality Backs Out of Deal to Purchase Austin City Limits Property

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