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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-13079
Entity Registrant Name	RYMAN HOSPITALITY PROPERTIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-0664379
Entity Address, Address Line One	One Gaylord Drive
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37214
City Area Code	615
Local Phone Number	316-6000
Title of 12(b) Security	Common stock
Trading Symbol	RHP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,446,724
Entity Central Index Key	0001040829
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018
ASSETS:
Property and equipment, net of accumulated depreciation (including $987,557 and $1,018,499 from VIEs, respectively)	$ 3,131,365		$ 3,149,095
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	101,786		103,437	$ 86,025
Cash and cash equivalents - restricted (including $8,297 and $5 from VIEs, respectively)	57,673		45,652	$ 38,372
Notes receivable	107,544		122,209
Trade receivables, less allowance of $867 and $763, respectively (including $23,059 and $2,019 from VIEs, respectively)	83,168		67,923
Deferred income tax assets, net	30,572		40,557
Prepaid expenses and other assets (including $26,068 and $20,419 from VIEs, respectively)	101,534		78,240
Intangible assets (including $212,367 and $241,973 from VIEs, respectively)	217,095		246,770
Total assets	3,830,737		3,853,883
LIABILITIES AND EQUITY:
Debt and finance lease obligations (including $792,204 and $494,578 from VIEs, respectively)	2,581,312		2,441,895
Accounts payable and accrued liabilities (including $49,777 and $70,215 from VIEs, respectively)	258,045		274,890
Dividends payable	47,303		45,019
Deferred management rights proceeds	176,105		174,026
Operating lease liabilities	105,864	$ 100,900
Other liabilities	71,278		161,043
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	279,352		287,433
Stockholders' equity:
Preferred stock, $.01 par value, 100,000 shares authorized, no shares issued or outstanding
Common stock, $.01 par value, 400,000 shares authorized, 51,446 and 51,336 shares issued and outstanding, respectively	514		513
Additional paid-in capital	900,247		900,795
Treasury stock of 612 and 592 shares, at cost	(16,763)		(15,183)
Accumulated deficit	(534,403)		(388,524)
Accumulated other comprehensive loss	(38,117)		(28,024)
Total stockholders' equity	311,478		469,577
Total liabilities and stockholders' equity	$ 3,830,737		$ 3,853,883

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 3,131,365	$ 3,149,095
Cash and cash equivalents - unrestricted	101,786	103,437
Cash and cash equivalents - restricted	57,673	45,652
Trade receivables, less allowance	83,168	67,923
Prepaid expenses and other assets	101,534	78,240
Intangible assets	217,095	246,770
Debt and capital lease obligations	2,581,312	2,441,895
Accounts payable and accrued liabilities	258,045	274,890
Accounts Receivable, Net [Abstract]
Allowance for doubtful accounts receivable	$ 867	$ 763
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	51,446,000	51,336,000
Common stock, shares outstanding (in shares)	51,446,000	51,336,000
Treasury Stock, Shares [Abstract]
Treasury stock, shares (in shares)	612,000	592,000
Variable Interest Entity [Member]
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 987,557	$ 1,018,499
Cash and cash equivalents - unrestricted	34,170	11,648
Cash and cash equivalents - restricted	8,297	5
Trade receivables, less allowance	23,059	2,019
Prepaid expenses and other assets	26,068	20,419
Intangible assets	212,367	241,973
Debt and capital lease obligations	792,204	494,578
Accounts payable and accrued liabilities	$ 49,777	$ 70,215

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 379,787	$ 292,249	$ 1,158,281	$ 914,553
Operating expenses:
Total hotel operating expenses	225,696	177,776	680,424	549,515
Corporate	9,404	7,212	26,518	23,181
Preopening costs	164	300	2,274	3,972
Depreciation and amortization	53,998	30,994	160,560	89,655
Impairment charges		4,540		4,540
Total operating expenses	323,284	252,149	962,498	751,810
Operating income	56,503	40,100	195,783	162,743
Interest expense	(35,261)	(19,220)	(100,840)	(55,574)
Interest income	2,878	2,678	8,756	8,197
Loss on extinguishment of debt	(494)		(494)
Loss from joint ventures	(308)	(985)	(475)	(2,227)
Other gains and (losses), net	1,109	1,881	857	2,085
Income before income taxes	24,427	24,454	103,587	115,224
Provision for income taxes	(3,537)	(1,863)	(13,743)	(9,748)
Net Income	20,890	22,591	89,844	105,476
Net loss attributable to noncontrolling interest in consolidated joint venture	1,459		11,296
Net income available to common stockholders	$ 22,349	$ 22,591	$ 101,140	$ 105,476
Basic income per share	$ 0.43	$ 0.44	$ 1.97	$ 2.06
Diluted income per share	0.43	0.44	1.95	2.05
Dividends declared per common share	$ 0.90	$ 0.85	$ 2.70	$ 2.55
Comprehensive income, net of taxes	$ 13,297	$ 26,030	$ 82,458	$ 109,077
Comprehensive loss, net of taxes, attributable to noncontrolling interest	(3,353)		(13,190)
Comprehensive income, net of taxes, available to common stockholders	16,650	26,030	95,648	109,077
Rooms [Member]
Revenues:
Total revenues	134,950	103,181	411,866	332,490
Operating expenses:
Total hotel operating expenses	37,116	29,563	108,184	88,550
Food and Beverage [Member]
Revenues:
Total revenues	155,173	118,496	499,346	392,488
Operating expenses:
Total hotel operating expenses	88,584	67,305	270,623	211,677
Hotel, Other [Member]
Revenues:
Total revenues	38,134	27,563	111,684	81,129
Operating expenses:
Total hotel operating expenses	91,608	74,350	273,074	226,965
Management Fees [Member]
Operating expenses:
Total hotel operating expenses	8,388	6,558	28,543	22,323
Entertainment [Member]
Revenues:
Total revenues	51,530	43,009	135,385	108,446
Operating expenses:
Total hotel operating expenses	$ 34,022	$ 31,327	$ 92,722	$ 80,947

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities:
Net income	$ 89,844	$ 105,476
Amounts to reconcile net income to net cash flows provided by operating activities:
Provision for deferred income taxes	10,865	8,591
Depreciation and amortization	160,560	89,655
Amortization of deferred financing costs	5,805	4,237
Impairment charges		4,540
Write-off of deferred financing costs	2,833	1,956
Loss from joint ventures	475	2,227
Stock-based compensation expense	5,862	5,824
Changes in:
Trade receivables	(15,244)	(22,975)
Accounts payable and accrued liabilities	(19,905)	34,679
Other assets and liabilities	(9,954)	(8,934)
Net cash flows provided by operating activities	231,141	225,276
Cash Flows from Investing Activities:
Purchases of property and equipment	(109,603)	(132,804)
Collection of notes receivable	13,211	2,560
Investment in joint ventures	(2,241)	(2,199)
Other investing activities	236	(6,151)
Net cash flows used in investing activities	(103,878)	(142,542)
Cash Flows from Financing Activities:
Net borrowings (repayments) under revolving credit facility	(302,000)	99,000
Issuance of senior notes	500,000
Redemption of senior notes	(350,000)
Deferred financing costs paid	(17,587)	(642)
Payment of dividends	(137,037)	(128,769)
Distribution from consolidated joint venture to noncontrolling interest partners	(105,793)
Payment of tax withholdings for share-based compensation	(3,965)	(4,121)
Other financing activities	(149)	(15)
Net cash flows used in financing activities	(116,893)	(37,047)
Net change in cash, cash equivalents, and restricted cash	10,370	45,687
Cash, cash equivalents, and restricted cash, beginning of period	149,089	78,710
Cash, cash equivalents, and restricted cash, end of period	159,459	124,397
Term Loan B
Cash Flows from Financing Activities:
Repayments of loans	(3,750)	(2,500)
Gaylord Rockies [Member]
Cash Flows from Investing Activities:
Purchase of additional/remaining interest, net of cash acquired	(5,481)
Cash Flows from Financing Activities:
Borrowing under Gaylord Rockies term loan	800,000
Repayment of Gaylord Rockies construction and mezzanine loans	$ (496,612)
Opry City Stage [Member]
Cash Flows from Investing Activities:
Purchase of additional/remaining interest, net of cash acquired		$ (3,948)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Reconciliation of cash, cash equivalents, and restricted cash to balance sheet:
Cash and cash equivalents - unrestricted	$ 101,786	$ 103,437	$ 86,025
Cash and cash equivalents - restricted	57,673	45,652	38,372
Cash, cash equivalents, and restricted cash, end of period	$ 159,459	$ 149,089	$ 124,397	$ 78,710

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance at Dec. 31, 2017	$ 512	$ 896,759	$ (13,253)	$ (479,170)	$ (26,692)		$ 378,156
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				27,339			27,339
Tax benefit or Translation adjustment related to adoption of ASU at Mar. 31, 2018				(134)			(134)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					78		78
Payment of dividends		167	(454)	(43,461)			(43,748)
Restricted stock units and stock options surrendered	1	(3,692)					(3,691)
Stock-based compensation expense		1,923					1,923
Ending balance at Mar. 31, 2018	513	895,157	(13,707)	(495,426)	(26,614)		359,923
Beginning balance at Dec. 31, 2017	512	896,759	(13,253)	(479,170)	(26,692)		378,156
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							105,476
Ending balance at Sep. 30, 2018	513	898,845	(14,195)	(504,577)	(23,091)		357,495
Beginning balance at Mar. 31, 2018	513	895,157	(13,707)	(495,426)	(26,614)		359,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				55,546			55,546
Other comprehensive income (loss), net of income taxes					84		84
Payment of dividends		102	(488)	(43,399)			(43,785)
Restricted stock units and stock options surrendered		(80)					(80)
Stock-based compensation expense		2,006					2,006
Ending balance at Jun. 30, 2018	513	897,185	(14,195)	(483,279)	(26,530)		373,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				22,591			22,591
Other comprehensive income (loss), net of income taxes					3,439		3,439
Payment of dividends		115		(43,889)			(43,774)
Restricted stock units and stock options surrendered		(350)					(350)
Stock-based compensation expense		1,895					1,895
Ending balance at Sep. 30, 2018	513	898,845	(14,195)	(504,577)	(23,091)		357,495
Beginning balance at Dec. 31, 2018	513	900,795	(15,183)	(388,524)	(28,024)		469,577
Beginning balance at Dec. 31, 2018						$ 287,433	287,433
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				29,408		(6,738)	29,408
Adjustment of noncontrolling interest to redemption value				(10,420)		10,420	(10,420)
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2018-02 [Member]) at Mar. 31, 2019				2,707	(2,707)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					109		109
Payment of dividends		168	(504)	(46,076)			(46,412)
Restricted stock units and stock options surrendered	1	(3,825)					(3,824)
Stock-based compensation expense		2,026					2,026
Ending balance at Mar. 31, 2019	514	899,164	(15,687)	(412,905)	(30,622)		440,464
Ending balance at Mar. 31, 2019						291,115
Beginning balance at Dec. 31, 2018	513	900,795	(15,183)	(388,524)	(28,024)		469,577
Beginning balance at Dec. 31, 2018						287,433	287,433
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							101,140
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2018-02 [Member]) at Sep. 30, 2019							2,700
Tax benefit or Translation adjustment related to adoption of ASU at Sep. 30, 2019					(2,707)
Ending balance at Sep. 30, 2019	514	900,247	(16,763)	(534,403)	(38,117)		311,478
Ending balance at Sep. 30, 2019						279,352	279,352
Beginning balance at Mar. 31, 2019	514	899,164	(15,687)	(412,905)	(30,622)		440,464
Beginning balance at Mar. 31, 2019						291,115
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				49,383		(3,099)	49,383
Adjustment of noncontrolling interest to redemption value				(10,293)		10,293	(10,293)
Other comprehensive income (loss), net of income taxes					98		98
Payment of dividends		93		(46,593)			(46,500)
Distribution from consolidated joint venture						(10,591)
Restricted stock units and stock options surrendered		(63)					(63)
Stock-based compensation expense		1,935					1,935
Ending balance at Jun. 30, 2019	514	901,129	(15,687)	(420,408)	(30,524)		435,024
Ending balance at Jun. 30, 2019						287,718
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				22,349		(1,459)	22,349
Adjustment of noncontrolling interest to redemption value				(90,877)		90,877	(90,877)
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2018-02 [Member]) at Sep. 30, 2019							2,700
Tax benefit or Translation adjustment related to adoption of ASU at Sep. 30, 2019					(2,707)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					(7,593)		(7,593)
Purchase of additional ownership interest in consolidated joint venture		(2,899)				(2,582)	(2,899)
Payment of dividends		135	(1,076)	(45,467)			(46,408)
Exercise of stock options		71					71
Distribution from consolidated joint venture						(95,202)
Restricted stock units and stock options surrendered		(90)					(90)
Stock-based compensation expense		1,901					1,901
Ending balance at Sep. 30, 2019	$ 514	$ 900,247	$ (16,763)	$ (534,403)	$ (38,117)		311,478
Ending balance at Sep. 30, 2019						$ 279,352	$ 279,352

Basis of Presentation

9 Months Ended

Sep. 30, 2019

Basis of Presentation

Basis of Presentation

1. BASIS OF PRESENTATION:

On January 1, 2013, Ryman Hospitality Properties, Inc. (“Ryman”) and its subsidiaries (collectively with Ryman, the “Company”) began operating as a real estate investment trust (“REIT”) for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of upscale, meetings-focused resorts that are managed by Marriott International, Inc. (“Marriott”) under the Gaylord Hotels brand. These resorts, which the Company refers to as the Gaylord Hotels properties, consist of the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee (“Gaylord Opryland”), the Gaylord Palms Resort & Convention Center near Orlando, Florida (“Gaylord Palms”), the Gaylord Texan Resort & Convention Center near Dallas, Texas (“Gaylord Texan”) and the Gaylord National Resort & Convention Center near Washington D.C. (“Gaylord National”). The Company’s other owned hotel assets managed by Marriott include the Inn at Opryland, an overflow hotel adjacent to Gaylord Opryland, and the AC Hotel at National Harbor, Washington D.C. (“AC Hotel”), an overflow hotel adjacent to Gaylord National.

At September 30, 2019, the Company also owns a 62.1% interest in a joint venture (the “Gaylord Rockies joint venture”) that owns the Gaylord Rockies Resort & Convention Center near Denver, Colorado (“Gaylord Rockies”), which opened in December 2018 and is managed by Marriott. As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, management has concluded that the Company is the primary beneficiary of this variable interest entity. As such, the Company has consolidated the assets, liabilities and results of operations of the Gaylord Rockies joint venture in the accompanying condensed consolidated financial statements. The portion of the Gaylord Rockies joint venture that the Company does not own is recorded as noncontrolling interest in consolidated joint venture in the accompanying condensed consolidated balance sheet, and any adjustment necessary to reflect the noncontrolling interest at its redemption value is shown in the accompanying condensed consolidated statement of stockholders’ equity. Creditors of the Gaylord Rockies joint venture have no recourse to the general credit of the Company, except with respect to certain limited loan guarantees as discussed in Note 7, “Debt” and Note 13, “Commitments and Contingencies” to the condensed consolidated financial statements included herein.

The Company also owns a number of media and entertainment assets, including the Grand Ole Opry, the legendary weekly showcase of country music’s finest performers; the Ryman Auditorium, the storied live music venue and former home of the Grand Ole Opry; WSM-AM, the Opry’s radio home; Ole Red, a brand of Blake Shelton-themed bar, music venue and event spaces, with a flagship location in Nashville that opened in May 2018; and three Nashville-based assets managed by Marriott – Gaylord Springs Golf Links, the Wildhorse Saloon, and the General Jackson Showboat.

The condensed consolidated financial statements include the accounts of Ryman and its subsidiaries and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted from this report pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. In the opinion of management, all adjustments necessary for a fair statement of the results of operations for the interim periods have been included. All adjustments are of a normal, recurring nature. The results of operations for such interim periods are not necessarily indicative of the results for the full year because of seasonal and short-term variations.

The Company principally operates, through its subsidiaries and its property managers, as applicable, in the following business segments: Hospitality, Entertainment, and Corporate and Other.

Newly Issued Accounting Standards

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases,” that requires lessees to record most leases on their balance sheet but recognize expenses on their

income statements in a manner similar to previous accounting. The ASU also eliminates the required use of bright-line tests for determining lease classification. The Company adopted this standard as of January 1, 2019 using the modified retrospective approach. Existing leases were recorded at the adoption date and comparative periods were not restated and are presented based on previously existing guidance. The Company also adopted several practical expedients, which allowed the Company to avoid reassessing (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. In addition, the Company elected to adopt a practical expedient that allows the Company to avoid reassessing existing or expired land easements that were not previously accounted for as a lease, as well as a practical expedient that allows the Company to avoid separating nonlease components from lease components and instead to account for each separate lease component and related nonlease component as a single lease component. As permitted, the Company has elected to not apply the recognition requirements of this ASU to short-term leases. Adoption of the new standard resulted in the recording of right-of-use assets and lease liabilities of $100.9 million as of January 1, 2019. However, after consideration of the Company’s previous straight-line lease liability of $100.1 million, as discussed more fully in the Company’s 2018 Annual Report on Form 10-K, the Company recorded $0.8 million in net right-of-use assets related to its operating leases as of January 1, 2019, which are recorded in prepaid expenses and other assets in the accompanying condensed consolidated financial statements. See Note 5, “Property and Equipment,” and Note 9, “Leases,” to the condensed consolidated financial statements included herein for additional disclosures regarding the Company’s leases.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments,” which will change how entities measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The ASU will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowances for losses. An entity will apply these amendments with a modified-retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. For debt securities for which an other-than-temporary impairment has been previously recognized, a prospective transition approach for the prior other-than-temporary impairment is required. The ASU is effective for the Company in the first quarter of 2020. The Company is currently evaluating the effects of this ASU on its financial statements, and such effects have not yet been determined.

In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities,” which makes more financial and nonfinancial hedging strategies eligible for hedge accounting, changes how companies assess hedge effectiveness, and amends the presentation and disclosure requirements for hedging transactions. The Company adopted this ASU in the first quarter of 2019, and this adoption did not have a material impact on the Company’s financial statements.

In February 2018, the FASB issued ASU No. 2018-02, “Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which gives entities the option to reclassify to retained earnings tax effects related to items that have been stranded in accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act (“TCJA”). An entity that elects to reclassify these amounts must reclassify stranded tax effects related to the TCJA’s change in US federal tax rate for all items accounted for in other comprehensive income. These entities can also elect to reclassify other stranded effects that relate to the TCJA but do not directly relate to the change in the federal tax rate. The Company adopted this ASU in the first quarter of 2019, and the Company recorded a transition adjustment of $2.7 million, which is reflected as a reclassification from accumulated other comprehensive loss to accumulated deficit in the accompanying condensed consolidated financial statements.

Revenues

9 Months Ended

Sep. 30, 2019

Revenues

Revenues

2. REVENUES:

Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales, and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and attrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are

generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. Almost all of the Company’s revenues are either cash-based or, for meeting and convention groups who meet the Company’s credit criteria, billed and collected on a short-term receivables basis. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase but are not included in revenue. The Company records a liability upon collection of such taxes from the customer and relieves the liability when payments are remitted to the applicable governmental agency.

The Company’s revenues disaggregated by major source are as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Hotel group rooms	$	93,172	$	69,258	$	301,932	$	241,804
Hotel transient rooms		41,778		33,923		109,934		90,686
Hotel food and beverage - banquets		104,961		82,742		354,678		280,729
Hotel food and beverage - outlets		50,212		35,754		144,668		111,759
Hotel other		38,134		27,563		111,684		81,129
Entertainment admissions/ticketing		24,075		19,215		59,658		51,282
Entertainment food and beverage		17,617		14,606		47,504		33,000
Entertainment retail and other		9,838		9,188		28,223		24,164
Total revenues	$	379,787	$	292,249	$	1,158,281	$	914,553

The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Gaylord Opryland	$	90,186	$	80,591	$	278,131	$	258,251
Gaylord Palms		40,854		38,901		148,127		147,071
Gaylord Texan		66,508		62,826		207,873		179,794
Gaylord National		59,128		60,304		202,886		200,747
Gaylord Rockies		64,949		—		165,628		—
AC Hotel		2,882		2,496		8,631		8,378
Inn at Opryland and other		3,750		4,122		11,620		11,866
Total Hospitality segment revenues	$	328,257	$	249,240	$	1,022,896	$	806,107

The majority of the Company’s Entertainment segment revenues are concentrated in Nashville, Tennessee.

The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment. At September 30, 2019 and December 31, 2018, the Company had $84.7 million and $69.3 million, respectively, in deferred revenues, which are included in accounts payable and accrued liabilities in the accompanying condensed consolidated balance sheets. Of the amount outstanding at December 31, 2018, approximately $52.7 million was recognized in revenue during the nine months ended September 30, 2019.

Income Per Share

9 Months Ended

Sep. 30, 2019

Income Per Share

Income Per Share

3. INCOME PER SHARE:

The weighted average number of common shares outstanding is calculated as follows (in thousands):


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019	2018	2019	2018
Weighted average shares outstanding - basic	51,444	51,325	51,411	51,281
Effect of dilutive stock-based compensation	125	194	152	195
Effect of dilutive put rights	263	—	263	—
Weighted average shares outstanding - diluted	51,832	51,519	51,826	51,476

As more fully discussed in Note 13, “Commitments and Contingencies,” to the condensed consolidated financial statements included herein, certain affiliates of Ares Management, L.P. (“Ares”) each have a put right to require the Company to purchase their joint venture interests in the Gaylord Rockies joint venture in consideration of cash or operating partnership units (“OP Units”) of RHP Hotel Properties, LP (the “Operating Partnership”). Any OP Units issued by the Operating Partnership to the certain affiliates of Ares will be redeemable at the option of the holders thereof for shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2019

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

4. ACCUMULATED OTHER COMPREHENSIVE LOSS:

The Company’s balance in accumulated other comprehensive loss is comprised of amounts related to the Company’s minimum pension liability discussed in Note 11, “Pension and Postretirement Benefits Other Than Pension Plans,” interest rate derivatives designated as a cash flow hedge of the Gaylord Rockies joint venture’s outstanding term loan discussed in Note 7, “Debt,” and amounts related to an other-than-temporary impairment of a held-to-maturity investment with respect to the notes receivable discussed in Note 6, “Notes Receivable,” to the condensed consolidated financial statements included herein, and Note 3, “Notes Receivable,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Changes in accumulated other comprehensive loss by component for the nine months ended September 30, 2019 and 2018 consisted of the following (in thousands):


			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2018	$	(21,814)	$	(6,210)	$	—	$	(28,024)
Losses arising during period		(5,164)		—		(3,789)		(8,953)
Amounts reclassified from accumulated other comprehensive loss		1,635		249		(1,197)		687
Income tax benefit		880		—		—		880
Net other comprehensive income (loss)		(2,649)		249		(4,986)		(7,386)
Transition adjustment related to adoption of ASU 2018-02 (see Note 1)		(2,707)		—		—		(2,707)
Balance, September 30, 2019	$	(27,170)	$	(5,961)	$	(4,986)	$	(38,117)


			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2017	$	(20,149)	$	(6,543)	$	—	$	(26,692)
Gains arising during period		3,439		—		—		3,439
Amounts reclassified from accumulated other comprehensive loss		990		249		—		1,239
Income tax expense		(1,077)		—		—		(1,077)
Net other comprehensive income		3,352		249		—		3,601
Balance, September 30, 2018	$	(16,797)	$	(6,294)	$	—	$	(23,091)

Property and Equipment

9 Months Ended

Sep. 30, 2019

Property and Equipment

Property and Equipment

5. PROPERTY AND EQUIPMENT:

Property and equipment, including right-of-use finance lease assets, at September 30, 2019 and December 31, 2018 is recorded at cost (except for right-of-use finance lease assets) and summarized as follows (in thousands):


	September 30,		December 31,
	2019		2018
Land and land improvements	$	348,867	$	347,654
Buildings		3,427,468		3,379,041
Furniture, fixtures and equipment		963,901		913,528
Right-of-use finance lease assets		1,613		—
Construction-in-progress		56,021		48,295
		4,797,870		4,688,518
Accumulated depreciation and amortization		(1,666,505)		(1,539,423)
Property and equipment, net	$	3,131,365	$	3,149,095

Notes Receivable

9 Months Ended

Sep. 30, 2019

Notes Receivable

Notes Receivable

6. NOTES RECEIVABLE:

As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, in connection with the development of Gaylord National, the Company is currently holding two issuances of governmental bonds with a total carrying value of $107.5 million and $111.0 million at September 30, 2019 and December 31, 2018, respectively. The Company receives debt service and principal payments thereon, payable from property tax increments, hotel taxes and special hotel rental taxes generated from Gaylord National through the maturity dates of July 1, 2034 and September 1, 2037, respectively. The Company records interest income over the life of the notes using the effective interest method.

During the three months ended September 30, 2019 and 2018, the Company recorded interest income of $2.5 million and $2.6 million, respectively, on these bonds. During the nine months ended September 30, 2019 and 2018, the Company recorded interest income of $7.7 million and $7.9 million, respectively, on these bonds. The Company received payments of $11.3 million and $10.9 million during the nine months ended September 30, 2019 and 2018, respectively, relating to these bonds.

As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, in connection with the development of certain infrastructure adjacent to Gaylord Rockies, at December 31, 2018, the Gaylord Rockies joint venture was holding two issuances of governmental bonds with a carrying value of $11.2 million, including interest. The debt service and principal payments on such bonds were payable from tax increments and special hotel rental taxes generated from the surrounding development through the maturity dates of December 1, 2030 and December 1, 2040, respectively. In April 2019, these bonds were redeemed by the issuer, and the joint venture received the outstanding principal and interest, which resulted in no impact to the Company’s condensed consolidated statement of operations for the nine months ended September 30, 2019.

Debt

9 Months Ended

Sep. 30, 2019

Debt

Debt

7. DEBT:

The Company’s debt and finance lease obligations at September 30, 2019 and December 31, 2018 consisted of (in thousands):


	September 30,		December 31,
	2019		2018
$700M Revolving Credit Facility, interest at LIBOR plus 1.80%, maturing May 23, 2021, less unamortized deferred financing costs of $4,570 and $6,542	$	218,430	$	518,458
$200M Term Loan A, interest at LIBOR plus 1.75%, maturing May 23, 2022, less unamortized deferred financing costs of $960 and $1,220		199,040		198,780
$500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $4,637 and $5,307		482,863		485,943
$350M Senior Notes, interest at 5.0%, original maturity April 15, 2021, less unamortized deferred financing costs of $0 and $2,385		—		347,615
$400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $3,441 and $4,097		396,559		395,903
$500M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $8,385 and $0		491,615		—
$800M Term Loan (Gaylord Rockies joint venture), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $8,546 and $0		791,454		—
$500M Construction Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $1,807		—		457,090
$39M Mezzanine Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $227		—		37,488
Finance lease obligations		1,351		618
Total debt	$	2,581,312	$	2,441,895

Amounts due within one year consist of the amortization payments for the $500 million term loan B of 1.0% of the original principal balance, as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

At September 30, 2019, the Company was in compliance with all of its covenants related to its outstanding debt.

See Note 17, “Subsequent Events,” for discussion of October 2019 refinancing of the Company’s $700 million revolving credit facility and $200 million term loan A.

$500 Million 4.75% Senior Notes Due 2027

In September 2019, the Operating Partnership and RHP Finance Corporation, a Delaware corporation and wholly-owned subsidiary of the Operating Partnership (“Finco”), completed the private placement of $500.0 million in aggregate principal amount of senior notes due 2027 (the “$500 Million 4.75% Senior Notes”), which are guaranteed by the Company and its subsidiaries that guarantee the Credit Agreement. The $500 Million 4.75% Senior Notes and guarantees were issued pursuant to an indenture by and among the issuing subsidiaries and the guarantors and U.S. Bank National Association as trustee. The $500 Million 4.75% Senior Notes have a maturity date of October 15, 2027 and bear interest at 4.75% per annum, payable semi-annually in cash in arrears on April 15 and October 15 of each year, beginning on April 15, 2020. The $500 Million 4.75% Senior Notes are general unsecured and unsubordinated obligations of the issuing subsidiaries and rank equal in right of payment with such subsidiaries’ existing and future senior unsecured indebtedness and senior in right of payment to future subordinated indebtedness, if any. The $500 Million 4.75% Senior Notes are effectively subordinated to the issuing subsidiaries’ secured indebtedness to the extent of the value of the assets securing such indebtedness. The guarantees rank equally in right of payment with the applicable guarantor’s existing and future senior unsecured indebtedness and senior in right of payment to any future subordinated indebtedness of such guarantor. The $500 Million 4.75% Senior Notes are effectively subordinated to any secured indebtedness of any guarantor to the extent of the value of the assets securing such indebtedness and structurally subordinated to all indebtedness and other obligations of the Operating Partnership’s subsidiaries that do not guarantee the $500 Million 4.75% Senior Notes.

The $500 Million 4.75% Senior Notes are redeemable before October 15, 2022, in whole or in part, at 100.00% of the principal amount thereof, plus accrued and unpaid interest thereon to, but not including, the redemption date plus a make-whole redemption premium. The $500 Million 4.75% Senior Notes will be redeemable, in whole or in part, at any time on or after October 15, 2022 at a redemption price expressed as a percentage of the principal amount thereof, which percentage is 103.563%, 102.375%, 101.188%, and 100.00% beginning on October 15 of 2022, 2023, 2024, and 2025, respectively, plus accrued and unpaid interest thereon to, but not including, the redemption date.

In connection with the issuance of the $500 Million 4.75% Senior Notes, the Company entered into a registration rights agreement that requires it to complete a registered offer to exchange the $500 Million 4.75% Senior Notes for registered notes with substantially identical terms as the $500 Million 4.75% Senior Notes on or before September 18, 2020.

The net proceeds from the issuance of the $500 Million 4.75% Senior Notes totaled approximately $493 million, after deducting the initial purchasers’ discounts, commissions and offering expenses. The Company used substantially all of these proceeds to repurchase a portion of the $350 Million 5% Senior Notes due 2021 (the “$350 Million 5% Senior Notes”) validly tendered and accepted for purchase pursuant to the Company’s previously announced cash tender offer, redeem the remaining portion of the $350 Million 5% Senior Notes, as discussed below, and to repay a portion of the amounts outstanding under the Company’s revolving credit facility. See Note 17, “Subsequent Events,” for discussion regarding additional notes issued pursuant to the indenture governing the $500 Million 4.75% Senior Notes in October 2019.

$350 Million 5% Senior Notes Due 2021

In September 2019, the Company commenced a cash tender offer for any and all outstanding $350 Million 5% Senior Notes at a redemption price of $1,002.50 per $1,000 principal amount. Pursuant to the tender offer, $197.5 million aggregate principal amount of the $350 Million 5% Senior Notes were validly tendered. As a result of the Company’s purchase of tendered $350 Million 5% Senior Notes, the Company recognized a loss on extinguishment of debt of $0.5 million in the three months and nine months ended September 30, 2019. The Company used a portion of the proceeds from the issuance of the $500 Million 4.75% Senior Notes to fund the tender offer.

In accordance with the indenture governing the $350 Million 5% Senior Notes, subsequent to expiration of the tender offer, in September 2019 the Company gave irrevocable notice of the redemption of all remaining $350 Million 5% Senior Notes not tendered in the tender offer and irrevocably deposited with the trustee for the $350 Million 5% Senior Notes an amount sufficient to pay the redemption price of the $350 Million 5% Senior Notes called for redemption at that date, including interest. Accordingly, the $350 Million 5% Senior Notes are no longer reflected in the accompanying condensed consolidated balance sheet at September 30, 2019. The Company used a portion of the proceeds from the issuance of the $500 Million 4.75% Senior Notes to fund the redemption.

As a result of the refinancing of the $350 Million 5% Senior Notes, the Company wrote off $1.7 million of unamortized deferred financing costs, which are recorded as interest expense in the accompanying condensed consolidated financial statements for the three and nine months ended September 30, 2019.

$800 Million Term Loan (Gaylord Rockies Joint Venture)

On July 2, 2019, Aurora Convention Center Hotel, LLC and Aurora Convention Center Hotel Lessee, LLC, subsidiaries of the entities comprising the Gaylord Rockies joint venture, entered into a Second Amended and Restated Loan Agreement (the “Gaylord Rockies Loan”) with Wells Fargo Bank, National Association, as administrative agent, which refinanced the Gaylord Rockies joint venture’s existing $500 million construction loan and $39 million mezzanine loan, which were scheduled to mature in December 2019. The Gaylord Rockies Loan consists of an $800.0 million secured term loan facility and also includes the option for an additional $80.0 million of borrowing capacity should the Gaylord Rockies joint venture decide to pursue a future expansion of Gaylord Rockies. The Gaylord Rockies Loan matures July 2, 2023 with three, one-year extension options, subject to certain requirements in the Gaylord Rockies Loan, and bears interest at LIBOR plus 2.50%. Simultaneous with closing, the Gaylord Rockies joint venture entered into an interest rate swap to fix the LIBOR portion of the interest rate at 1.65% for the first three years of the loan. The Company has designated this interest rate swap as an effective cash flow hedge.

The proceeds from the Gaylord Rockies Loan were used by the Gaylord Rockies joint venture to repay the previously outstanding $500 million construction loan and $39 million mezzanine loan, and, after payment of expenses, the Gaylord Rockies joint venture distributed the excess proceeds to the owners of the Gaylord Rockies joint venture pro rata in proportion to their interests therein. The noncontrolling interest owners received a distribution of approximately $95 million, and the Company received a distribution of approximately $153 million, which was used to repay a portion of the outstanding indebtedness under the Company’s $700 million revolving credit facility.

The Gaylord Rockies Loan is secured by a deed of trust lien on the Gaylord Rockies real estate and related assets. The Company and an affiliate of RIDA each entered into limited repayment and carry guaranties that, in the aggregate, guarantee repayment of 10% of the principal debt, together with interest and operating expenses, which are to be released once the Gaylord Rockies joint venture achieves a certain debt service coverage threshold as defined in the Gaylord Rockies Loan. Generally, the Gaylord Rockies Loan is non-recourse to the Company, subject to (i) those limited guaranties, (ii) a completion guaranty in the event the expansion is pursued and (iii) customary non-recourse carve-outs.

As a result of the refinancing, the Gaylord Rockies joint venture wrote off $1.1 million of unamortized deferred financing costs, which are recorded as interest expense in the accompanying condensed consolidated financial statements for the three and nine months ended September 30, 2019.

Interest Rate Derivatives

The Company may enter into interest rate swap agreements to hedge against interest rate fluctuations. The Gaylord Rockies joint venture has entered into an interest rate swap to manage interest rate risk associated with the Gaylord Rockies Loan. The Gaylord Rockies joint venture has designated this swap as a cash flow hedge whereby the joint venture receives variable-rate amounts in exchange for fixed-rate payments over the life of the agreement without exchange of the underlying principal amount. Neither the Company nor the Gaylord Rockies joint venture use derivatives for trading or speculative purposes and currently do not hold any derivatives that are not designated as hedges.

For derivatives designated as and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive loss and subsequently reclassified to interest expense in the same period during which the hedged transaction affects earnings. These amounts reported in accumulated other comprehensive loss will be reclassified to interest expense as interest payments are made on the related variable-rate debt. The Company estimates that an immaterial amount will be reclassified from accumulated other comprehensive loss to interest expense in the next twelve months.

At September 30, 2019, the Gaylord Rockies joint venture had one outstanding interest rate swap in the notional amount of $800.0 million that matures in August 2022.

The Company had no derivative assets at September 30, 2019 or December 31, 2018. The fair value of the Company’s derivative liabilities, as well as their classification on the accompanying condensed consolidated balance sheets, at September 30, 2019 and December 31, 2018 is as follows (in thousands):


	Derivative Liabilities
	Balance Sheet	September 30,		December 31,
	Location	2019		2018
Derivatives designated as hedging instruments:
Interest rate swap	Other liabilities	$	4,986	$	—
Total derivatives		$	4,986	$	—

The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands):


	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI					Reclassified from Accumulated
	on Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Three Months Ended				Reclassified from	Three Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—


	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI on					Reclassified from Accumulated
	Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Nine Months Ended				Reclassified from	Nine Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—

Reclassifications from accumulated other comprehensive loss for interest rate swaps are shown in the table above and included in interest expense. Total consolidated interest expense for the three months ended September 30, 2019 and 2018 was $35.3 million and $19.2 million, respectively, and for the nine months ended September 30, 2019 and 2018 was $100.8 million and $55.6 million, respectively.

At September 30, 2019, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $5.1 million. As of September 30, 2019, the Company has not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at the aggregate termination value of $5.1 million. In addition, the Company has an agreement with its derivative counterparty that contains a provision whereby the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on the indebtedness.

See Note 17, “Subsequent Events,” for discussion of interest rate swaps entered into in October 2019 related to the Company’s $500 million term loan B.

Deferred Management Rights Proceeds

9 Months Ended

Sep. 30, 2019

Deferred Management Rights Proceeds

Deferred Management Rights Proceeds

8. DEFERRED MANAGEMENT RIGHTS PROCEEDS:

On October 1, 2012, the Company consummated its agreement to sell the Gaylord Hotels brand and rights to manage the Gaylord Hotels properties (the “Management Rights”) to Marriott for $210.0 million in cash. Effective October 1, 2012, Marriott assumed responsibility for managing the day-to-day operations of the Gaylord Hotels properties pursuant to a management agreement for each Gaylord Hotel property. The Company allocated $190.0 million of the purchase price to the Management Rights, based on the Company’s estimates of the fair values for the respective components. For financial accounting purposes, the amount related to the Management Rights was deferred and is amortized on a straight line basis over the 65-year term of the hotel management agreements, including extensions, as a reduction in management fee expense.

Leases

9 Months Ended

Sep. 30, 2019

Leases

Leases

9. LEASES:

The Company is a lessee of a 65.3 acre site in Osceola County, Florida on which Gaylord Palms is located, building or land leases for Ole Red Gatlinburg, Ole Red Orlando and Ole Red Tishomingo, various warehouse, general office and other equipment leases. The Gaylord Palms land lease has a term through 2074, which may be extended through January 2101, at the Company’s discretion. The leases for Ole Red locations range from five to ten years, with renewal options

ranging from one to forty years, at the Company’s discretion. Extension options are not considered reasonably assured and thus are not included in the Company’s calculation of its right-of-use assets and lease liabilities.

The terms of the Gaylord Palms lease include variable lease payments based upon net revenues at Gaylord Palms and certain other of the Company’s leases include rental payments adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As the discount rate implicit in the Company’s operating leases is not readily determinable, the Company applied judgments related to the determination of the discount rates used to calculate the lease liability as required by Accounting Standards Codification Topic 842, “Leases”. The Company calculated its incremental borrowing rates by utilizing judgments and estimates regarding the Company’s secured borrowing rates, market credit rating, comparable bond yield curve, and adjustments to market yield curves to determine a securitized rate.

The Company’s lease costs for the three months and nine months ended September 30, 2019 are as follows (in thousands):


	Three Months Ended		Nine Months Ended
Operating lease cost	$	3,167	$	9,742
Finance lease cost:
Amortization of right-of-use assets		43		120
Interest on lease liabilities		18		49
Net lease cost	$	3,228	$	9,911

Lease expense for operating leases for the three months and nine months ended September 30, 2018 was $3.9 million and $10.5 million, respectively.

Future minimum lease payments under non-cancelable leases at September 30, 2019 are as follows (in thousands):


	Operating		Finance
	Leases		Leases
Year 1	$	6,159	$	260
Year 2		6,206		260
Year 3		5,942		241
Year 4		5,973		232
Year 5		5,823		60
Years thereafter		575,562		609
Total future minimum lease payments		605,665		1,662
Less amount representing interest		(499,801)		(311)
Total present value of minimum payments	$	105,864	$	1,351

The remaining lease term and discount rate for the Company’s leases are as follows:


Weighted-average remaining lease term:
Operating leases	51.1	years
Finance leases	10.2	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%

Stock Plans

9 Months Ended

Sep. 30, 2019

Stock Plans

Stock Plans

10. STOCK PLANS:

During the nine months ended September 30, 2019, the Company granted 0.1 million restricted stock units with a weighted-average grant date fair value of $89.38 per unit. There were 0.3 million and 0.4 million restricted stock units outstanding at September 30, 2019 and December 31, 2018, respectively.

The compensation expense that has been charged against pre-tax income for all of the Company’s stock-based compensation plans was $1.9 million for each of the three months ended September 30, 2019 and 2018, and $5.9 million and $5.8 million for the nine months ended September 30, 2019 and 2018, respectively.

Pension and Postretirement Benefits Other Than Pension Plans

9 Months Ended

Sep. 30, 2019

Pension and Postretirement Benefits Other Than Pension Plans

Pension and Postretirement Benefits Other Than Pension Plans

11. PENSION AND POSTRETIREMENT BENEFITS OTHER THAN PENSION PLANS:

Net periodic pension expense reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Interest cost	$	798	$	808	$	2,554	$	2,422
Expected return on plan assets		(935)		(1,087)		(2,822)		(3,259)
Amortization of net actuarial loss		293		259		866		778
Net settlement loss		1,577		1,004		1,577		1,004
Total net periodic pension expense	$	1,733	$	984	$	2,175	$	945

As a result of increased lump-sum distributions from the Company’s qualified retirement plan during 2019 and 2018, net settlement losses of $1.6 million and $1.0 million were recognized in the three months and nine months ended September 30, 2019 and 2018, respectively.

In addition, the increase in lump-sum distributions required the Company to re-measure its liability under its pension plan as of August 31, 2019. As a result of the re-measurement, as well as a decrease in the pension plan’s assumed discount rate from 3.95% at December 31, 2018 to 2.63% at August 31, 2019, the Company recorded a $5.2 million increase in its liability under the pension plan and a corresponding increase in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheet at September 30, 2019.

Net postretirement benefit income reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Interest cost	$	26	$	24	$	76	$	72
Amortization of net actuarial loss		55		64		178		193
Amortization of prior service credit		(329)		(329)		(986)		(986)
Total net postretirement benefit income	$	(248)	$	(241)	$	(732)	$	(721)

Income Taxes

9 Months Ended

Sep. 30, 2019

Income Taxes

Income Taxes

12. INCOME TAXES:

The Company has elected to be taxed as a REIT effective January 1, 2013, pursuant to the U.S. Internal Revenue Code of 1986, as amended. As a REIT, generally the Company will not be subject to federal corporate income taxes on ordinary taxable income and capital gains income from real estate investments that it distributes to its stockholders. The Company will continue to be required to pay federal and state corporate income taxes on earnings of its taxable REIT subsidiaries.

The Company recorded an income tax provision of $3.5 million and $1.9 million for the three months ended September 30, 2019 and 2018, respectively, and $13.7 million and $9.7 million for the nine months ended September 30, 2019 and 2018, respectively. These results differ from the statutory rate primarily due to the REIT dividends paid deduction.

At September 30, 2019 and December 31, 2018, the Company had no unrecognized tax benefits.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies

Commitments and Contingencies

13. COMMITMENTS AND CONTINGENCIES:

Pursuant to the Gaylord Rockies joint venture agreements, certain affiliates of Ares each have a put right to require the Company to purchase their joint venture interests at a defined appraised value during an annual window period or under certain other circumstances (which joint venture interests are not currently redeemable) in consideration of cash or OP Units of the Operating Partnership. Such OP Units have economic terms that are substantially similar to shares of the Company’s common stock. Any OP Units issued by the Operating Partnership to the Ares affiliates will be redeemable at the option of the holders thereof for shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments.

Affiliates of RIDA Development Corporation (“RIDA”) also have a put right at a defined appraised value for cash, which will become exercisable at the earlier of December 31, 2023 or the date on which a certain change of control of RIDA occurs.

In connection with its investment in the Gaylord Rockies joint venture, the Company and an affiliate of RIDA each entered limited repayment and carry guaranties that, in the aggregate, guarantee repayment of 10% of the principal debt, together with interest and operating expenses, which are to be released once the Gaylord Rockies joint venture achieves a certain debt service coverage threshold as defined in the Gaylord Rockies Loan. Generally, the Gaylord Rockies Loan is non-recourse to the Company, subject to (i) those limited guaranties, (ii) a completion guaranty in the event a property expansion is pursued, and (iii) customary non-recourse carve-outs.

In April 2019, a subsidiary of the Company entered into a joint venture with Gray Television, Inc. to create and distribute a linear multicast and over-the-top channel dedicated to the country music lifestyle (“New Country Ventures”). The Company acquired a 50% equity interest in this joint venture for an initial capital contribution of $2.0 million. In addition, the joint venture agreement requires the Company to contribute up to an additional $13.0 million through December 31, 2021. The Company accounts for its investment in this joint venture under the equity method of accounting.

The Company has entered into employment agreements with certain officers, which provide for severance payments upon certain events, including certain terminations in connection with a change of control.

The Company, in the ordinary course of business, is involved in certain legal actions and claims on a variety of matters. It is the opinion of management that such contingencies will not have a material effect on the financial statements of the Company.

Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Stockholders' Equity

Stockholders' Equity

14. STOCKHOLDERS’ EQUITY:

On February 26, 2019, the Company’s board of directors declared the Company’s first quarter 2019 cash dividend in the amount of $0.90 per share of common stock, or an aggregate of approximately $46.3 million in cash, which was paid on April 15, 2019 to stockholders of record as of the close of business on March 29, 2019.

On June 18, 2019, the Company’s board of directors declared the Company’s second quarter 2019 cash dividend in the amount of $0.90 per share of common stock, or an aggregate of approximately $46.3 million in cash, which was paid on July 15, 2019 to stockholders of record as of the close of business on June 28, 2019.

On September 16, 2019, the Company’s board of directors declared the Company’s third quarter 2019 cash dividend in the amount of $0.90 per share of common stock, or an aggregate of approximately $46.3 million in cash, which was paid on October 15, 2019 to stockholders of record as of the close of business on September 30, 2019.

Fair Value Measurements

9 Months Ended

Sep. 30, 2019

Fair Value Measurements

Fair Value Measurements

15. FAIR VALUE MEASUREMENTS:

The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other

than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

At September 30, 2019 and December 31, 2018, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis. These included the Company’s investments held in conjunction with the Company’s non-qualified contributory deferred compensation plan and the Gaylord Rockies joint venture’s derivative instruments related to interest rates discussed in Note 7, “Debt.”

The investments held by the Company in connection with its deferred compensation plan consist of mutual funds traded in an active market. The Company determined the fair value of these mutual funds based on the net asset value per unit of the funds or the portfolio, which is based upon quoted market prices in an active market. Therefore, the Company has categorized these investments as Level 1.

The Gaylord Rockies joint venture’s interest rate derivative instrument consists of over-the-counter swap contracts, which are not traded on a public exchange. The Gaylord Rockies joint venture determines the fair value of these swap contracts based on a widely accepted valuation methodology of netting the discounted future fixed cash flows and the discounted expected variable cash flows, using interest rates derived from observable market interest rate curves and volatilities, with appropriate adjustments for any significant impact of non-performance risk of the parties to the swap contracts. Therefore, the Gaylord Rockies joint venture has categorized these swap contracts as Level 2.

The Company has consistently applied the above valuation techniques in all periods presented and believes it has obtained the most accurate information available for each type of instrument.

The Company’s assets and liabilities measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018, were as follows (in thousands):


			Markets for		Observable		Unobservable
	September 30,		Identical Assets		Inputs		Inputs
	2019		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	27,827	$	27,827	$	—	$	—
Total assets measured at fair value	$	27,827	$	27,827	$	—	$	—

Variable to fixed interest rate swaps	$	4,986	$	—	$	4,986	$	—
Total liabilities measured at fair value	$	4,986	$	—	$	4,986	$	—


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2018		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	24,687	$	24,687	$	—	$	—
Total assets measured at fair value	$	24,687	$	24,687	$	—	$	—

Total liabilities measured at fair value	$	—	$	—	$	—	$	—

The remainder of the assets and liabilities held by the Company at September 30, 2019 are not required to be recorded at fair value, and the carrying value of these assets and liabilities approximate fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Reporting By Business Segments

9 Months Ended

Sep. 30, 2019

Financial Reporting By Business Segments

Financial Reporting By Business Segments

16. FINANCIAL REPORTING BY BUSINESS SEGMENTS:

The Company’s operations are organized into three principal business segments:

●

Hospitality, which includes Gaylord Opryland, Gaylord Palms, Gaylord Texan, Gaylord National, the Inn at Opryland, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture (which is consolidated below beginning January 1, 2019);

●

Entertainment, which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the Company’s equity investment in New Country Ventures, and the Company’s Nashville-based attractions; and

●

Corporate and Other, which includes the Company’s corporate expenses.

The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Revenues:
Hospitality	$	328,257	$	249,240	$	1,022,896	$	806,107
Entertainment		51,530		43,009		135,385		108,446
Corporate and Other		—		—		—		—
Total	$	379,787	$	292,249	$	1,158,281	$	914,553

Depreciation and amortization:
Hospitality	$	50,445	$	27,946	$	150,909	$	81,379
Entertainment		3,132		2,613		8,441		6,885
Corporate and Other		421		435		1,210		1,391
Total	$	53,998	$	30,994	$	160,560	$	89,655

Operating income:
Hospitality	$	52,116	$	43,518	$	191,563	$	175,213
Entertainment		14,376		9,069		34,222		20,614
Corporate and Other		(9,825)		(7,647)		(27,728)		(24,572)
Preopening costs (1)		(164)		(300)		(2,274)		(3,972)
Impairment charges (2)		—		(4,540)		—		(4,540)
Total operating income		56,503		40,100		195,783		162,743

Interest expense		(35,261)		(19,220)		(100,840)		(55,574)
Interest income		2,878		2,678		8,756		8,197
Loss from extinguishment of debt		(494)		—		(494)		—
Loss from joint ventures		(308)		(985)		(475)		(2,227)
Other gains and (losses), net		1,109		1,881		857		2,085
Income before income taxes	$	24,427	$	24,454	$	103,587	$	115,224

(1)

Preopening costs for the three months ended September 30, 2019 relate to the Entertainment segment. Preopening costs for the three months ended September 30, 2018 include $0.2 million and $0.1 million for the Hospitality and Entertainment segments, respectively. Preopening costs for the nine months ended September 30, 2019 include $0.6 million and $1.6 million for the Hospitality and Entertainment segments, respectively. Preopening costs for the nine months ended September 30, 2018 include $2.2 million and $1.7 million for the Hospitality and Entertainment segments, respectively.

(2)

Impairment charges for the 2018 periods relate to the Entertainment segment.

Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events

Subsequent Events

17. SUBSEQUENT EVENTS:

On October 31, 2019, the Company entered into a Sixth Amended and Restated Credit Agreement among the Company, as guarantor, the Operating Partnership, as borrower, certain other subsidiaries of the Company party thereto, as guarantors, certain subsidiaries of the Company party thereto, as pledgors, the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent, which amended and restated the Company’s existing credit facility. As amended, the maturity dates for the Company’s $700 million revolving credit facility and $200 million term loan A were extended to March 31, 2024 and March 31, 2025, respectively. In addition, the $200 million term loan A portion of the facility was increased to $300 million, and the accordion feature related to the facility was increased from $500 million to $600 million. Further, the applicable margin on the interest rate for the revolving credit facility and the term loan A portions of the credit facility were decreased. There were no changes to the terms of the $500 million term loan B portion of the credit facility.

The net proceeds of the increase in the term loan A, after deducting initial transaction expenses payable at closing, totaled approximately $94 million and, along with cash on hand, were used to repay $100 million of the outstanding indebtedness under the $500 million term loan B.

In October 2019, the Company entered into four interest rate swaps related to the Company’s $500 million term loan B and has designated these swaps as effective cash flow hedges whereby the Company receives variable-rate amounts in exchange for fixed-rate payments over the life of the agreement without exchange of the underlying principal amount. The total notional amount of these interest rate swaps is $350.0 million, and they each mature in 2023.

In October 2019, the Operating Partnership and Finco completed a tack-on private placement of $200.0 million in aggregate principal amount of 4.75% senior notes due 2027 (the “additional 2027 notes”) at an issue price of 101.250% of their aggregate principal amount plus accrued interest from the September 19, 2019 issue date for the $500 Million 4.75% Senior Notes. The additional 2027 notes and the $500 Million 4.75% Senior Notes will constitute a single class of securities (collectively, the “$700 Million 4.75% Senior Notes”). All other terms and conditions of the additional 2027 notes are identical to the $500 Million 4.75% Senior Notes.

The net proceeds of the additional 2027 notes totaled approximately $199 million, after deducting the initial purchasers’ discounts, commissions and offering expenses. The Company used substantially all of these proceeds to repay a portion of the amounts outstanding under the Company’s revolving credit facility.

Information Concerning Guarantor and Non-Guarantor Subsidiaries

9 Months Ended

Sep. 30, 2019

Information Concerning Guarantor and Non-Guarantor Subsidiaries

Information Concerning Guarantor and Non-Guarantor Subsidiaries

18. INFORMATION CONCERNING GUARANTOR AND NON-GUARANTOR SUBSIDIARIES:

The $350 Million 5% Senior Notes, the $400 Million 5% Senior Notes, and the $700 Million 4.75% Senior Notes were each issued by the Operating Partnership and Finco and are guaranteed on a senior unsecured basis by the Company, each of the Company’s four wholly-owned subsidiaries that own the Gaylord Hotels properties, and certain other of the Company’s subsidiaries, each of which guarantees the Operating Partnership’s Fifth Amended and Restated Credit Agreement, as amended (such subsidiary guarantors, together with the Company, the “Guarantors”). The subsidiary Guarantors are 100% owned, and the guarantees are full and unconditional and joint and several. Not all of the Company’s subsidiaries have guaranteed the Company’s $350 Million 5% Senior Notes, the $400 Million 5% Senior Notes, and the $700 Million 4.75% Senior Notes.

The following condensed consolidating financial information includes certain allocations of expenses based on management’s best estimates, which are not necessarily indicative of financial position, results of operations and cash flows that these entities would have achieved on a stand-alone basis.

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2019


(in thousands)	Parent						Non-
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	—	$	—	$	1,629,425	$	1,501,940	$	—	$	3,131,365
Cash and cash equivalents - unrestricted		31		1,073		11		100,671		—		101,786
Cash and cash equivalents - restricted		—		—		—		57,673		—		57,673
Notes receivable		—		—		—		107,544		—		107,544
Trade receivables, less allowance		—		—		—		83,168		—		83,168
Deferred income tax assets, net		—		—		(408)		30,980		—		30,572
Prepaid expenses and other assets		—		58		6		115,836		(14,366)		101,534
Intangible assets		—		—		—		217,095		—		217,095
Intercompany receivables, net		—		—		2,061,746		—		(2,061,746)		—
Investments		1,045,602		2,949,445		708,820		1,741,511		(6,445,378)		—
Total assets	$	1,045,633	$	2,950,576	$	4,399,600	$	3,956,418	$	(8,521,490)	$	3,830,737

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—	$	1,788,505	$	—	$	792,807	$	—	$	2,581,312
Accounts payable and accrued liabilities		37		15,540		4,376		246,768		(8,676)		258,045
Dividends payable		47,303		—		—		—		—		47,303
Deferred management rights proceeds		—		—		—		176,105		—		176,105
Operating lease liabilities		—		—		103,574		7,980		(5,690)		105,864
Other liabilities		—		—		—		71,278		—		71,278
Intercompany payables, net		686,815		1,214,674		—		160,257		(2,061,746)		—
Commitments and contingencies
Noncontrolling interest in consolidated joint venture		—		—		—		279,352		—		279,352
Stockholders’ equity:
Preferred stock		—		—		—		—		—		—
Common stock		514		1		1		2,387		(2,389)		514
Additional paid-in-capital		900,247		362,213		2,894,830		2,506,978		(5,764,021)		900,247
Treasury stock		(16,763)		—		—		—		—		(16,763)
Accumulated deficit		(534,403)		(430,357)		1,396,819		(249,377)		(717,085)		(534,403)
Accumulated other comprehensive loss		(38,117)		—		—		(38,117)		38,117		(38,117)
Total stockholders' equity		311,478		(68,143)		4,291,650		2,221,871		(6,445,378)		311,478
Total liabilities and stockholders' equity	$	1,045,633	$	2,950,576	$	4,399,600	$	3,956,418	$	(8,521,490)	$	3,830,737

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2018


(in thousands)	Parent						Non-
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	—	$	—	$	1,646,946	$	1,502,149	$	—	$	3,149,095
Cash and cash equivalents - unrestricted		81		657		54		102,645		—		103,437
Cash and cash equivalents - restricted		—		—		—		45,652		—		45,652
Notes receivable		—		—		—		122,209		—		122,209
Trade receivables, less allowance		—		—		—		67,923		—		67,923
Deferred income tax assets, net		—		—		(444)		41,001		—		40,557
Prepaid expenses and other assets		—		34		—		79,460		(1,254)		78,240
Intangible assets		—		—		—		246,770		—		246,770
Intercompany receivables, net		—		—		1,895,086		—		(1,895,086)		—
Investments		1,101,740		2,950,457		710,516		1,898,756		(6,661,469)		—
Total assets	$	1,101,821	$	2,951,148	$	4,252,158	$	4,106,565	$	(8,557,809)	$	3,853,883

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—	$	1,946,699	$	—	$	495,196	$	—	$	2,441,895
Accounts payable and accrued liabilities		50		13,752		7,253		255,089		(1,254)		274,890
Dividends payable		45,019		—		—		—		—		45,019
Deferred management rights proceeds		—		—		—		174,026		—		174,026
Other liabilities		—		—		100,068		60,975		—		161,043
Intercompany payables, net		587,175		846,478		—		461,433		(1,895,086)		—
Commitments and contingencies
Noncontrolling interest in consolidated joint venture		—		—		—		287,433		—		287,433
Stockholders’ equity:
Preferred stock		—		—		—		—		—		—
Common stock		513		1		1		2,387		(2,389)		513
Additional paid-in-capital		900,795		499,122		2,895,842		2,668,134		(6,063,098)		900,795
Treasury stock		(15,183)		—		—		—		—		(15,183)
Accumulated deficit		(388,524)		(354,904)		1,248,994		(270,084)		(624,006)		(388,524)
Accumulated other comprehensive loss		(28,024)		—		—		(28,024)		28,024		(28,024)
Total stockholders' equity		469,577		144,219		4,144,837		2,372,413		(6,661,469)		469,577
Total liabilities and stockholders' equity	$	1,101,821	$	2,951,148	$	4,252,158	$	4,106,565	$	(8,557,809)	$	3,853,883

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	134,950	$	—	$	134,950
Food and beverage		—		—		—		155,173		—		155,173
Other hotel revenue		—		—		81,154		52,546		(95,566)		38,134
Entertainment		—		—		—		52,172		(642)		51,530
Total revenues		—		—		81,154		394,841		(96,208)		379,787
Operating expenses:
Rooms		—		—		—		37,116		—		37,116
Food and beverage		—		—		—		88,584		—		88,584
Other hotel expenses		—		—		12,218		171,479		(92,089)		91,608
Management fees, net		—		—		—		8,388		—		8,388
Total hotel operating expenses		—		—		12,218		305,567		(92,089)		225,696
Entertainment		—		—		—		34,022		—		34,022
Corporate		63		482		(1)		8,860		—		9,404
Preopening costs		—		—		—		164		—		164
Corporate overhead allocation		1,036		—		3,083		—		(4,119)		—
Depreciation and amortization		—		—		16,394		37,604		—		53,998
Total operating expenses		1,099		482		31,694		386,217		(96,208)		323,284
Operating income (loss)		(1,099)		(482)		49,460		8,624		—		56,503
Interest expense		—		(25,093)		—		(10,366)		198		(35,261)
Interest income		—		3		—		3,073		(198)		2,878
Loss on extinguishment of debt		—		(494)		—		—		—		(494)
Loss from joint ventures		—		—		—		(308)		—		(308)
Other gains and (losses), net		—		—		—		1,109		—		1,109
Income (loss) before income taxes		(1,099)		(26,066)		49,460		2,132		—		24,427
Provision for income taxes		—		—		(27)		(3,510)		—		(3,537)
Equity in subsidiaries’ earnings, net		21,989		—		—		—		(21,989)		—
Net income (loss)	$	20,890	$	(26,066)	$	49,433	$	(1,378)	$	(21,989)	$	20,890
Comprehensive income (loss), net of taxes	$	13,297	$	(26,066)	$	49,433	$	(8,971)	$	(14,396)	$	13,297
Net income (loss) available to common shareholders	$	22,349	$	(26,066)	$	49,433	$	(1,378)	$	(21,989)	$	22,349
Comprehensive income (loss), net of taxes, available to common shareholders	$	16,650	$	(26,066)	$	49,433	$	(7,077)	$	(16,290)	$	16,650

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	103,181	$	—	$	103,181
Food and beverage		—		—		—		118,496		—		118,496
Other hotel revenue		—		—		76,592		32,691		(81,720)		27,563
Entertainment		—		—		—		43,009		—		43,009
Total revenues		—		—		76,592		297,377		(81,720)		292,249
Operating expenses:
Rooms		—		—		—		29,563		—		29,563
Food and beverage		—		—		—		67,305		—		67,305
Other hotel expenses		—		—		11,510		139,318		(76,478)		74,350
Management fees, net		—		—		—		6,558		—		6,558
Total hotel operating expenses		—		—		11,510		242,744		(76,478)		177,776
Entertainment		—		—		—		31,327		—		31,327
Corporate		63		410		—		6,739		—		7,212
Preopening costs		—		—		—		300		—		300
Corporate overhead allocation		2,873		—		2,369		—		(5,242)		—
Depreciation and amortization		—		—		15,548		15,446		—		30,994
Impairment charges		—		—		—		4,540		—		4,540
Total operating expenses		2,936		410		29,427		301,096		(81,720)		252,149
Operating income (loss)		(2,936)		(410)		47,165		(3,719)		—		40,100
Interest expense		—		(19,214)		—		(6)		—		(19,220)
Interest income		—		—		—		2,678		—		2,678
Loss from joint ventures		—		—		—		(985)		—		(985)
Other gains and (losses), net		—		—		—		1,881		—		1,881
Income (loss) before income taxes		(2,936)		(19,624)		47,165		(151)		—		24,454
Provision for income taxes		—		—		(78)		(1,785)		—		(1,863)
Equity in subsidiaries’ earnings, net		25,527		—		—		—		(25,527)		—
Net income (loss)	$	22,591	$	(19,624)	$	47,087	$	(1,936)	$	(25,527)	$	22,591
Comprehensive income (loss)	$	26,030	$	(19,624)	$	47,087	$	1,503	$	(28,966)	$	26,030

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	411,866	$		$	411,866
Food and beverage		—		—		—		499,346				499,346
Other hotel revenue		—		—		242,630		154,589		(285,535)		111,684
Entertainment		—		—		—		137,100		(1,715)		135,385
Total revenues		—		—		242,630		1,202,901		(287,250)		1,158,281
Operating expenses:
Rooms		—		—		—		108,184		—		108,184
Food and beverage		—		—		—		270,623		—		270,623
Other hotel expenses		—		—		36,515		511,620		(275,061)		273,074
Management fees, net		—		—		—		28,543		—		28,543
Total hotel operating expenses		—		—		36,515		918,970		(275,061)		680,424
Entertainment		—		—		—		92,775		(53)		92,722
Corporate		188		1,362		2		24,966		—		26,518
Preopening costs		—		—		—		2,274		—		2,274
Corporate overhead allocation		3,047		—		9,089		—		(12,136)		—
Depreciation and amortization		—		—		49,126		111,434		—		160,560
Total operating expenses		3,235		1,362		94,732		1,150,419		(287,250)		962,498
Operating income (loss)		(3,235)		(1,362)		147,898		52,482		—		195,783
Interest expense		—		(73,758)		—		(27,707)		625		(100,840)
Interest income		—		161		—		9,220		(625)		8,756
Loss from extinguishment of debt		—		(494)		—		—		—		(494)
Loss from joint ventures		—		—		—		(475)		—		(475)
Other gains and (losses), net		—		—		—		857		—		857
Income (loss) before income taxes		(3,235)		(75,453)		147,898		34,377		—		103,587
Provision for income taxes		—		—		(73)		(13,670)		—		(13,743)
Equity in subsidiaries’ earnings, net		93,079		—		—		—		(93,079)		—
Net income (loss)	$	89,844	$	(75,453)	$	147,825	$	20,707	$	(93,079)	$	89,844
Comprehensive income (loss), net of taxes	$	82,458	$	(75,453)	$	147,825	$	13,321	$	(85,693)	$	82,458
Net income (loss) available to common shareholders	$	101,140	$	(75,453)	$	147,825	$	20,707	$	(93,079)	$	101,140
Comprehensive income (loss), net of taxes, available to common shareholders	$	95,648	$	(75,453)	$	147,825	$	15,215	$	(87,587)	$	95,648

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	332,490	$	—	$	332,490
Food and beverage		—		—		—		392,488		—		392,488
Other hotel revenue		—		—		229,608		95,305		(243,784)		81,129
Entertainment		—		—		—		108,470		(24)		108,446
Total revenues		—		—		229,608		928,753		(243,808)		914,553
Operating expenses:
Rooms		—		—		—		88,550		—		88,550
Food and beverage		—		—		—		211,677		—		211,677
Other hotel expenses		—		—		34,387		421,846		(229,268)		226,965
Management fees, net		—		—		—		22,323		—		22,323
Total hotel operating expenses		—		—		34,387		744,396		(229,268)		549,515
Entertainment		—		—		—		80,971		(24)		80,947
Corporate		188		1,135		2		21,856		—		23,181
Preopening costs		—		—		—		3,972		—		3,972
Impairment charges		—		—		—		4,540		—		4,540
Corporate overhead allocation		7,983		—		6,533		—		(14,516)		—
Depreciation and amortization		—		—		45,583		44,072		—		89,655
Total operating expenses		8,171		1,135		86,505		899,807		(243,808)		751,810
Operating income (loss)		(8,171)		(1,135)		143,103		28,946		—		162,743
Interest expense		—		(55,555)		—		(19)		—		(55,574)
Interest income		—		—		—		8,197		—		8,197
Loss from joint ventures		—		—		—		(2,227)		—		(2,227)
Other gains and (losses), net		—		—		—		2,085		—		2,085
Income (loss) before income taxes		(8,171)		(56,690)		143,103		36,982		—		115,224
Provision for income taxes		—		—		(162)		(9,586)		—		(9,748)
Equity in subsidiaries’ earnings, net		113,647		—		—		—		(113,647)		—
Net income (loss)	$	105,476	$	(56,690)	$	142,941	$	27,396	$	(113,647)	$	105,476
Comprehensive income (loss)	$	109,077	$	(56,690)	$	142,941	$	30,997	$	(117,248)	$	109,077

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantor		Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	140,881	$	164,587	$	31,533	$	(105,860)	$	—	$	231,141

Purchases of property and equipment		—		—		(31,576)		(78,027)		—		(109,603)
Collection of notes receivable		—		—		—		13,211		—		13,211
Purchase of additional interest in Gaylord Rockies joint venture		—		—		—		(5,481)		—		(5,481)
Investment in other joint ventures		—		—		—		(2,241)		—		(2,241)
Other investing activities		—		—		—		236		—		236
Net cash used in investing activities		—		—		(31,576)		(72,302)		—		(103,878)

Net repayments under revolving credit facility		—		(302,000)		—		—		—		(302,000)
Repayments under term loan B		—		(3,750)		—		—		—		(3,750)
Issuance of senior notes		—		500,000		—		—		—		500,000
Redemption of senior notes		—		(350,000)		—		—		—		(350,000)
Borrowing under Gaylord Rockies term loan		—		—		—		800,000		—		800,000
Repayment of Gaylord Rockies construction and mezzanine loans		—		—		—		(496,612)		—		(496,612)
Deferred financing costs paid		—		(8,421)		—		(9,166)		—		(17,587)
Payment of dividends		(137,037)		—		—		—		—		(137,037)
Distribution from consolidated joint venture to noncontrolling interest partners		—		—		—		(105,793)		—		(105,793)
Payment of tax withholdings for share-based compensation		(3,965)		—		—		—		—		(3,965)
Other financing activities		71		—		—		(220)		—		(149)
Net cash provided by (used in) financing activities		(140,931)		(164,171)		—		188,209		—		(116,893)

Net change in cash, cash equivalents, and restricted cash		(50)		416		(43)		10,047		—		10,370
Cash, cash equivalents, and restricted cash, beginning of period		81		657		54		148,297		—		149,089
Cash, cash equivalents, and restricted cash, end of period	$	31	$	1,073	$	11	$	158,344	$	—	$	159,459

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantor		Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	132,910	$	(94,109)	$	56,336	$	130,139	$	—	$	225,276

Purchases of property and equipment		—		—		(56,180)		(76,624)		—		(132,804)
Collection of notes receivable		—		—		—		2,560		—		2,560
Purchase of remaining interest in Opry City Stage		—		—		—		(3,948)		—		(3,948)
Investment in other joint ventures		—		—		—		(2,199)		—		(2,199)
Other investing activities		—		—		—		(6,151)		—		(6,151)
Net cash used in investing activities		—		—		(56,180)		(86,362)		—		(142,542)

Net borrowings under revolving credit facility		—		99,000		—		—		—		99,000
Repayments under term loan B		—		(2,500)		—		—		—		(2,500)
Deferred financing costs paid		—		(642)		—		—		—		(642)
Payment of dividends		(128,769)		—		—		—		—		(128,769)
Payment of tax withholdings for share-based compensation		(4,121)		—		—		—		—		(4,121)
Other financing activities		—		—		—		(15)		—		(15)
Net cash provided by (used in) financing activities		(132,890)		95,858		—		(15)		—		(37,047)

Net change in cash, cash equivalents, and restricted cash		20		1,749		156		43,762		—		45,687
Cash, cash equivalents, and restricted cash, beginning of period		38		759		36		77,877		—		78,710
Cash, cash equivalents, and restricted cash, end of period	$	58	$	2,508	$	192	$	121,639	$	—	$	124,397

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2019
Basis of Presentation
Newly Issued Accounting Standards	Newly Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases,” that requires lessees to record most leases on their balance sheet but recognize expenses on their income statements in a manner similar to previous accounting. The ASU also eliminates the required use of bright-line tests for determining lease classification. The Company adopted this standard as of January 1, 2019 using the modified retrospective approach. Existing leases were recorded at the adoption date and comparative periods were not restated and are presented based on previously existing guidance. The Company also adopted several practical expedients, which allowed the Company to avoid reassessing (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. In addition, the Company elected to adopt a practical expedient that allows the Company to avoid reassessing existing or expired land easements that were not previously accounted for as a lease, as well as a practical expedient that allows the Company to avoid separating nonlease components from lease components and instead to account for each separate lease component and related nonlease component as a single lease component. As permitted, the Company has elected to not apply the recognition requirements of this ASU to short-term leases. Adoption of the new standard resulted in the recording of right-of-use assets and lease liabilities of $100.9 million as of January 1, 2019. However, after consideration of the Company’s previous straight-line lease liability of $100.1 million, as discussed more fully in the Company’s 2018 Annual Report on Form 10-K, the Company recorded $0.8 million in net right-of-use assets related to its operating leases as of January 1, 2019, which are recorded in prepaid expenses and other assets in the accompanying condensed consolidated financial statements. See Note 5, “Property and Equipment,” and Note 9, “Leases,” to the condensed consolidated financial statements included herein for additional disclosures regarding the Company’s leases. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments,” which will change how entities measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The ASU will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowances for losses. An entity will apply these amendments with a modified-retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. For debt securities for which an other-than-temporary impairment has been previously recognized, a prospective transition approach for the prior other-than-temporary impairment is required. The ASU is effective for the Company in the first quarter of 2020. The Company is currently evaluating the effects of this ASU on its financial statements, and such effects have not yet been determined. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities,” which makes more financial and nonfinancial hedging strategies eligible for hedge accounting, changes how companies assess hedge effectiveness, and amends the presentation and disclosure requirements for hedging transactions. The Company adopted this ASU in the first quarter of 2019, and this adoption did not have a material impact on the Company’s financial statements. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which gives entities the option to reclassify to retained earnings tax effects related to items that have been stranded in accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act (“TCJA”). An entity that elects to reclassify these amounts must reclassify stranded tax effects related to the TCJA’s change in US federal tax rate for all items accounted for in other comprehensive income. These entities can also elect to reclassify other stranded effects that relate to the TCJA but do not directly relate to the change in the federal tax rate. The Company adopted this ASU in the first quarter of 2019, and the Company recorded a transition adjustment of $2.7 million, which is reflected as a reclassification from accumulated other comprehensive loss to accumulated deficit in the accompanying condensed consolidated financial statements.
Revenue Recognition	Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales, and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and attrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. Almost all of the Company’s revenues are either cash-based or, for meeting and convention groups who meet the Company’s credit criteria, billed and collected on a short-term receivables basis. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase but are not included in revenue. The Company records a liability upon collection of such taxes from the customer and relieves the liability when payments are remitted to the applicable governmental agency.
Deferred Revenue	The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment.

Revenues (Tables)

9 Months Ended

Sep. 30, 2019

Revenues

Revenues Disaggregated by Major Source

The Company’s revenues disaggregated by major source are as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Hotel group rooms	$	93,172	$	69,258	$	301,932	$	241,804
Hotel transient rooms		41,778		33,923		109,934		90,686
Hotel food and beverage - banquets		104,961		82,742		354,678		280,729
Hotel food and beverage - outlets		50,212		35,754		144,668		111,759
Hotel other		38,134		27,563		111,684		81,129
Entertainment admissions/ticketing		24,075		19,215		59,658		51,282
Entertainment food and beverage		17,617		14,606		47,504		33,000
Entertainment retail and other		9,838		9,188		28,223		24,164
Total revenues	$	379,787	$	292,249	$	1,158,281	$	914,553

Hospitality Segment Revenues Disaggregated by Location

The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Gaylord Opryland	$	90,186	$	80,591	$	278,131	$	258,251
Gaylord Palms		40,854		38,901		148,127		147,071
Gaylord Texan		66,508		62,826		207,873		179,794
Gaylord National		59,128		60,304		202,886		200,747
Gaylord Rockies		64,949		—		165,628		—
AC Hotel		2,882		2,496		8,631		8,378
Inn at Opryland and other		3,750		4,122		11,620		11,866
Total Hospitality segment revenues	$	328,257	$	249,240	$	1,022,896	$	806,107

Income Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Income Per Share

Weighted Average Number of Common Shares Outstanding

The weighted average number of common shares outstanding is calculated as follows (in thousands):


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019	2018	2019	2018
Weighted average shares outstanding - basic	51,444	51,325	51,411	51,281
Effect of dilutive stock-based compensation	125	194	152	195
Effect of dilutive put rights	263	—	263	—
Weighted average shares outstanding - diluted	51,832	51,519	51,826	51,476

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2019

Accumulated Other Comprehensive Loss

Summary of Changes in Accumulated Other Comprehensive Loss by Component

Changes in accumulated other comprehensive loss by component for the nine months ended September 30, 2019 and 2018 consisted of the following (in thousands):


			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2018	$	(21,814)	$	(6,210)	$	—	$	(28,024)
Losses arising during period		(5,164)		—		(3,789)		(8,953)
Amounts reclassified from accumulated other comprehensive loss		1,635		249		(1,197)		687
Income tax benefit		880		—		—		880
Net other comprehensive income (loss)		(2,649)		249		(4,986)		(7,386)
Transition adjustment related to adoption of ASU 2018-02 (see Note 1)		(2,707)		—		—		(2,707)
Balance, September 30, 2019	$	(27,170)	$	(5,961)	$	(4,986)	$	(38,117)


			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2017	$	(20,149)	$	(6,543)	$	—	$	(26,692)
Gains arising during period		3,439		—		—		3,439
Amounts reclassified from accumulated other comprehensive loss		990		249		—		1,239
Income tax expense		(1,077)		—		—		(1,077)
Net other comprehensive income		3,352		249		—		3,601
Balance, September 30, 2018	$	(16,797)	$	(6,294)	$	—	$	(23,091)

Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2019

Property and Equipment

Property and Equipment


	September 30,		December 31,
	2019		2018
Land and land improvements	$	348,867	$	347,654
Buildings		3,427,468		3,379,041
Furniture, fixtures and equipment		963,901		913,528
Right-of-use finance lease assets		1,613		—
Construction-in-progress		56,021		48,295
		4,797,870		4,688,518
Accumulated depreciation and amortization		(1,666,505)		(1,539,423)
Property and equipment, net	$	3,131,365	$	3,149,095

Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt

Summary of debt and capital lease obligations

The Company’s debt and finance lease obligations at September 30, 2019 and December 31, 2018 consisted of (in thousands):


	September 30,		December 31,
	2019		2018
$700M Revolving Credit Facility, interest at LIBOR plus 1.80%, maturing May 23, 2021, less unamortized deferred financing costs of $4,570 and $6,542	$	218,430	$	518,458
$200M Term Loan A, interest at LIBOR plus 1.75%, maturing May 23, 2022, less unamortized deferred financing costs of $960 and $1,220		199,040		198,780
$500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $4,637 and $5,307		482,863		485,943
$350M Senior Notes, interest at 5.0%, original maturity April 15, 2021, less unamortized deferred financing costs of $0 and $2,385		—		347,615
$400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $3,441 and $4,097		396,559		395,903
$500M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $8,385 and $0		491,615		—
$800M Term Loan (Gaylord Rockies joint venture), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $8,546 and $0		791,454		—
$500M Construction Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $1,807		—		457,090
$39M Mezzanine Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $227		—		37,488
Finance lease obligations		1,351		618
Total debt	$	2,581,312	$	2,441,895

Schedule of fair value of the Company's derivative liabilities


	Derivative Liabilities
	Balance Sheet	September 30,		December 31,
	Location	2019		2018
Derivatives designated as hedging instruments:
Interest rate swap	Other liabilities	$	4,986	$	—
Total derivatives		$	4,986	$	—

Summary of effect of derivative financial instruments on the accompanying condensed consolidated statements of operations

The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands):


	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI					Reclassified from Accumulated
	on Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Three Months Ended				Reclassified from	Three Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—


	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI on					Reclassified from Accumulated
	Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Nine Months Ended				Reclassified from	Nine Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases

Schedule of Company's Lease Cost

The Company’s lease costs for the three months and nine months ended September 30, 2019 are as follows (in thousands):


	Three Months Ended		Nine Months Ended
Operating lease cost	$	3,167	$	9,742
Finance lease cost:
Amortization of right-of-use assets		43		120
Interest on lease liabilities		18		49
Net lease cost	$	3,228	$	9,911

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at September 30, 2019 are as follows (in thousands):


	Operating		Finance
	Leases		Leases
Year 1	$	6,159	$	260
Year 2		6,206		260
Year 3		5,942		241
Year 4		5,973		232
Year 5		5,823		60
Years thereafter		575,562		609
Total future minimum lease payments		605,665		1,662
Less amount representing interest		(499,801)		(311)
Total present value of minimum payments	$	105,864	$	1,351

Summary of Maturities of Finance Lease Liabilities


	Operating		Finance
	Leases		Leases
Year 1	$	6,159	$	260
Year 2		6,206		260
Year 3		5,942		241
Year 4		5,973		232
Year 5		5,823		60
Years thereafter		575,562		609
Total future minimum lease payments		605,665		1,662
Less amount representing interest		(499,801)		(311)
Total present value of minimum payments	$	105,864	$	1,351

Schedule of Remaining Lease Term and Discount Rate of Leases


Weighted-average remaining lease term:
Operating leases	51.1	years
Finance leases	10.2	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%

Pension and Postretirement Benefits Other Than Pension Plans (Tables)

9 Months Ended

Sep. 30, 2019

Pension Plan [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Pension and Postretirement Benefit (Income) Expense


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Interest cost	$	798	$	808	$	2,554	$	2,422
Expected return on plan assets		(935)		(1,087)		(2,822)		(3,259)
Amortization of net actuarial loss		293		259		866		778
Net settlement loss		1,577		1,004		1,577		1,004
Total net periodic pension expense	$	1,733	$	984	$	2,175	$	945

Postretirement Health Coverage [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Pension and Postretirement Benefit (Income) Expense


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Interest cost	$	26	$	24	$	76	$	72
Amortization of net actuarial loss		55		64		178		193
Amortization of prior service credit		(329)		(329)		(986)		(986)
Total net postretirement benefit income	$	(248)	$	(241)	$	(732)	$	(721)

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Measurements

Assets Measured at Fair Value on Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018, were as follows (in thousands):


			Markets for		Observable		Unobservable
	September 30,		Identical Assets		Inputs		Inputs
	2019		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	27,827	$	27,827	$	—	$	—
Total assets measured at fair value	$	27,827	$	27,827	$	—	$	—

Variable to fixed interest rate swaps	$	4,986	$	—	$	4,986	$	—
Total liabilities measured at fair value	$	4,986	$	—	$	4,986	$	—


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2018		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	24,687	$	24,687	$	—	$	—
Total assets measured at fair value	$	24,687	$	24,687	$	—	$	—

Total liabilities measured at fair value	$	—	$	—	$	—	$	—

Financial Reporting By Business Segments (Tables)

9 Months Ended

Sep. 30, 2019

Financial Reporting By Business Segments

Segments' Internal Financial Reports

The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Revenues:
Hospitality	$	328,257	$	249,240	$	1,022,896	$	806,107
Entertainment		51,530		43,009		135,385		108,446
Corporate and Other		—		—		—		—
Total	$	379,787	$	292,249	$	1,158,281	$	914,553

Depreciation and amortization:
Hospitality	$	50,445	$	27,946	$	150,909	$	81,379
Entertainment		3,132		2,613		8,441		6,885
Corporate and Other		421		435		1,210		1,391
Total	$	53,998	$	30,994	$	160,560	$	89,655

Operating income:
Hospitality	$	52,116	$	43,518	$	191,563	$	175,213
Entertainment		14,376		9,069		34,222		20,614
Corporate and Other		(9,825)		(7,647)		(27,728)		(24,572)
Preopening costs (1)		(164)		(300)		(2,274)		(3,972)
Impairment charges (2)		—		(4,540)		—		(4,540)
Total operating income		56,503		40,100		195,783		162,743

Interest expense		(35,261)		(19,220)		(100,840)		(55,574)
Interest income		2,878		2,678		8,756		8,197
Loss from extinguishment of debt		(494)		—		(494)		—
Loss from joint ventures		(308)		(985)		(475)		(2,227)
Other gains and (losses), net		1,109		1,881		857		2,085
Income before income taxes	$	24,427	$	24,454	$	103,587	$	115,224

(1)

(2)

Impairment charges for the 2018 periods relate to the Entertainment segment.

Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2019

Basis of Presentation

Condensed Consolidating Balance Sheet

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2019


(in thousands)	Parent						Non-
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	—	$	—	$	1,629,425	$	1,501,940	$	—	$	3,131,365
Cash and cash equivalents - unrestricted		31		1,073		11		100,671		—		101,786
Cash and cash equivalents - restricted		—		—		—		57,673		—		57,673
Notes receivable		—		—		—		107,544		—		107,544
Trade receivables, less allowance		—		—		—		83,168		—		83,168
Deferred income tax assets, net		—		—		(408)		30,980		—		30,572
Prepaid expenses and other assets		—		58		6		115,836		(14,366)		101,534
Intangible assets		—		—		—		217,095		—		217,095
Intercompany receivables, net		—		—		2,061,746		—		(2,061,746)		—
Investments		1,045,602		2,949,445		708,820		1,741,511		(6,445,378)		—
Total assets	$	1,045,633	$	2,950,576	$	4,399,600	$	3,956,418	$	(8,521,490)	$	3,830,737

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—	$	1,788,505	$	—	$	792,807	$	—	$	2,581,312
Accounts payable and accrued liabilities		37		15,540		4,376		246,768		(8,676)		258,045
Dividends payable		47,303		—		—		—		—		47,303
Deferred management rights proceeds		—		—		—		176,105		—		176,105
Operating lease liabilities		—		—		103,574		7,980		(5,690)		105,864
Other liabilities		—		—		—		71,278		—		71,278
Intercompany payables, net		686,815		1,214,674		—		160,257		(2,061,746)		—
Commitments and contingencies
Noncontrolling interest in consolidated joint venture		—		—		—		279,352		—		279,352
Stockholders’ equity:
Preferred stock		—		—		—		—		—		—
Common stock		514		1		1		2,387		(2,389)		514
Additional paid-in-capital		900,247		362,213		2,894,830		2,506,978		(5,764,021)		900,247
Treasury stock		(16,763)		—		—		—		—		(16,763)
Accumulated deficit		(534,403)		(430,357)		1,396,819		(249,377)		(717,085)		(534,403)
Accumulated other comprehensive loss		(38,117)		—		—		(38,117)		38,117		(38,117)
Total stockholders' equity		311,478		(68,143)		4,291,650		2,221,871		(6,445,378)		311,478
Total liabilities and stockholders' equity	$	1,045,633	$	2,950,576	$	4,399,600	$	3,956,418	$	(8,521,490)	$	3,830,737

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2018


(in thousands)	Parent						Non-
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	—	$	—	$	1,646,946	$	1,502,149	$	—	$	3,149,095
Cash and cash equivalents - unrestricted		81		657		54		102,645		—		103,437
Cash and cash equivalents - restricted		—		—		—		45,652		—		45,652
Notes receivable		—		—		—		122,209		—		122,209
Trade receivables, less allowance		—		—		—		67,923		—		67,923
Deferred income tax assets, net		—		—		(444)		41,001		—		40,557
Prepaid expenses and other assets		—		34		—		79,460		(1,254)		78,240
Intangible assets		—		—		—		246,770		—		246,770
Intercompany receivables, net		—		—		1,895,086		—		(1,895,086)		—
Investments		1,101,740		2,950,457		710,516		1,898,756		(6,661,469)		—
Total assets	$	1,101,821	$	2,951,148	$	4,252,158	$	4,106,565	$	(8,557,809)	$	3,853,883

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—	$	1,946,699	$	—	$	495,196	$	—	$	2,441,895
Accounts payable and accrued liabilities		50		13,752		7,253		255,089		(1,254)		274,890
Dividends payable		45,019		—		—		—		—		45,019
Deferred management rights proceeds		—		—		—		174,026		—		174,026
Other liabilities		—		—		100,068		60,975		—		161,043
Intercompany payables, net		587,175		846,478		—		461,433		(1,895,086)		—
Commitments and contingencies
Noncontrolling interest in consolidated joint venture		—		—		—		287,433		—		287,433
Stockholders’ equity:
Preferred stock		—		—		—		—		—		—
Common stock		513		1		1		2,387		(2,389)		513
Additional paid-in-capital		900,795		499,122		2,895,842		2,668,134		(6,063,098)		900,795
Treasury stock		(15,183)		—		—		—		—		(15,183)
Accumulated deficit		(388,524)		(354,904)		1,248,994		(270,084)		(624,006)		(388,524)
Accumulated other comprehensive loss		(28,024)		—		—		(28,024)		28,024		(28,024)
Total stockholders' equity		469,577		144,219		4,144,837		2,372,413		(6,661,469)		469,577
Total liabilities and stockholders' equity	$	1,101,821	$	2,951,148	$	4,252,158	$	4,106,565	$	(8,557,809)	$	3,853,883

Condensed Consolidating Statement of Operations and Comprehensive Income

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	134,950	$	—	$	134,950
Food and beverage		—		—		—		155,173		—		155,173
Other hotel revenue		—		—		81,154		52,546		(95,566)		38,134
Entertainment		—		—		—		52,172		(642)		51,530
Total revenues		—		—		81,154		394,841		(96,208)		379,787
Operating expenses:
Rooms		—		—		—		37,116		—		37,116
Food and beverage		—		—		—		88,584		—		88,584
Other hotel expenses		—		—		12,218		171,479		(92,089)		91,608
Management fees, net		—		—		—		8,388		—		8,388
Total hotel operating expenses		—		—		12,218		305,567		(92,089)		225,696
Entertainment		—		—		—		34,022		—		34,022
Corporate		63		482		(1)		8,860		—		9,404
Preopening costs		—		—		—		164		—		164
Corporate overhead allocation		1,036		—		3,083		—		(4,119)		—
Depreciation and amortization		—		—		16,394		37,604		—		53,998
Total operating expenses		1,099		482		31,694		386,217		(96,208)		323,284
Operating income (loss)		(1,099)		(482)		49,460		8,624		—		56,503
Interest expense		—		(25,093)		—		(10,366)		198		(35,261)
Interest income		—		3		—		3,073		(198)		2,878
Loss on extinguishment of debt		—		(494)		—		—		—		(494)
Loss from joint ventures		—		—		—		(308)		—		(308)
Other gains and (losses), net		—		—		—		1,109		—		1,109
Income (loss) before income taxes		(1,099)		(26,066)		49,460		2,132		—		24,427
Provision for income taxes		—		—		(27)		(3,510)		—		(3,537)
Equity in subsidiaries’ earnings, net		21,989		—		—		—		(21,989)		—
Net income (loss)	$	20,890	$	(26,066)	$	49,433	$	(1,378)	$	(21,989)	$	20,890
Comprehensive income (loss), net of taxes	$	13,297	$	(26,066)	$	49,433	$	(8,971)	$	(14,396)	$	13,297
Net income (loss) available to common shareholders	$	22,349	$	(26,066)	$	49,433	$	(1,378)	$	(21,989)	$	22,349
Comprehensive income (loss), net of taxes, available to common shareholders	$	16,650	$	(26,066)	$	49,433	$	(7,077)	$	(16,290)	$	16,650

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	103,181	$	—	$	103,181
Food and beverage		—		—		—		118,496		—		118,496
Other hotel revenue		—		—		76,592		32,691		(81,720)		27,563
Entertainment		—		—		—		43,009		—		43,009
Total revenues		—		—		76,592		297,377		(81,720)		292,249
Operating expenses:
Rooms		—		—		—		29,563		—		29,563
Food and beverage		—		—		—		67,305		—		67,305
Other hotel expenses		—		—		11,510		139,318		(76,478)		74,350
Management fees, net		—		—		—		6,558		—		6,558
Total hotel operating expenses		—		—		11,510		242,744		(76,478)		177,776
Entertainment		—		—		—		31,327		—		31,327
Corporate		63		410		—		6,739		—		7,212
Preopening costs		—		—		—		300		—		300
Corporate overhead allocation		2,873		—		2,369		—		(5,242)		—
Depreciation and amortization		—		—		15,548		15,446		—		30,994
Impairment charges		—		—		—		4,540		—		4,540
Total operating expenses		2,936		410		29,427		301,096		(81,720)		252,149
Operating income (loss)		(2,936)		(410)		47,165		(3,719)		—		40,100
Interest expense		—		(19,214)		—		(6)		—		(19,220)
Interest income		—		—		—		2,678		—		2,678
Loss from joint ventures		—		—		—		(985)		—		(985)
Other gains and (losses), net		—		—		—		1,881		—		1,881
Income (loss) before income taxes		(2,936)		(19,624)		47,165		(151)		—		24,454
Provision for income taxes		—		—		(78)		(1,785)		—		(1,863)
Equity in subsidiaries’ earnings, net		25,527		—		—		—		(25,527)		—
Net income (loss)	$	22,591	$	(19,624)	$	47,087	$	(1,936)	$	(25,527)	$	22,591
Comprehensive income (loss)	$	26,030	$	(19,624)	$	47,087	$	1,503	$	(28,966)	$	26,030

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	411,866	$		$	411,866
Food and beverage		—		—		—		499,346				499,346
Other hotel revenue		—		—		242,630		154,589		(285,535)		111,684
Entertainment		—		—		—		137,100		(1,715)		135,385
Total revenues		—		—		242,630		1,202,901		(287,250)		1,158,281
Operating expenses:
Rooms		—		—		—		108,184		—		108,184
Food and beverage		—		—		—		270,623		—		270,623
Other hotel expenses		—		—		36,515		511,620		(275,061)		273,074
Management fees, net		—		—		—		28,543		—		28,543
Total hotel operating expenses		—		—		36,515		918,970		(275,061)		680,424
Entertainment		—		—		—		92,775		(53)		92,722
Corporate		188		1,362		2		24,966		—		26,518
Preopening costs		—		—		—		2,274		—		2,274
Corporate overhead allocation		3,047		—		9,089		—		(12,136)		—
Depreciation and amortization		—		—		49,126		111,434		—		160,560
Total operating expenses		3,235		1,362		94,732		1,150,419		(287,250)		962,498
Operating income (loss)		(3,235)		(1,362)		147,898		52,482		—		195,783
Interest expense		—		(73,758)		—		(27,707)		625		(100,840)
Interest income		—		161		—		9,220		(625)		8,756
Loss from extinguishment of debt		—		(494)		—		—		—		(494)
Loss from joint ventures		—		—		—		(475)		—		(475)
Other gains and (losses), net		—		—		—		857		—		857
Income (loss) before income taxes		(3,235)		(75,453)		147,898		34,377		—		103,587
Provision for income taxes		—		—		(73)		(13,670)		—		(13,743)
Equity in subsidiaries’ earnings, net		93,079		—		—		—		(93,079)		—
Net income (loss)	$	89,844	$	(75,453)	$	147,825	$	20,707	$	(93,079)	$	89,844
Comprehensive income (loss), net of taxes	$	82,458	$	(75,453)	$	147,825	$	13,321	$	(85,693)	$	82,458
Net income (loss) available to common shareholders	$	101,140	$	(75,453)	$	147,825	$	20,707	$	(93,079)	$	101,140
Comprehensive income (loss), net of taxes, available to common shareholders	$	95,648	$	(75,453)	$	147,825	$	15,215	$	(87,587)	$	95,648

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
Revenues:
Rooms	$	—	$	—	$	—	$	332,490	$	—	$	332,490
Food and beverage		—		—		—		392,488		—		392,488
Other hotel revenue		—		—		229,608		95,305		(243,784)		81,129
Entertainment		—		—		—		108,470		(24)		108,446
Total revenues		—		—		229,608		928,753		(243,808)		914,553
Operating expenses:
Rooms		—		—		—		88,550		—		88,550
Food and beverage		—		—		—		211,677		—		211,677
Other hotel expenses		—		—		34,387		421,846		(229,268)		226,965
Management fees, net		—		—		—		22,323		—		22,323
Total hotel operating expenses		—		—		34,387		744,396		(229,268)		549,515
Entertainment		—		—		—		80,971		(24)		80,947
Corporate		188		1,135		2		21,856		—		23,181
Preopening costs		—		—		—		3,972		—		3,972
Impairment charges		—		—		—		4,540		—		4,540
Corporate overhead allocation		7,983		—		6,533		—		(14,516)		—
Depreciation and amortization		—		—		45,583		44,072		—		89,655
Total operating expenses		8,171		1,135		86,505		899,807		(243,808)		751,810
Operating income (loss)		(8,171)		(1,135)		143,103		28,946		—		162,743
Interest expense		—		(55,555)		—		(19)		—		(55,574)
Interest income		—		—		—		8,197		—		8,197
Loss from joint ventures		—		—		—		(2,227)		—		(2,227)
Other gains and (losses), net		—		—		—		2,085		—		2,085
Income (loss) before income taxes		(8,171)		(56,690)		143,103		36,982		—		115,224
Provision for income taxes		—		—		(162)		(9,586)		—		(9,748)
Equity in subsidiaries’ earnings, net		113,647		—		—		—		(113,647)		—
Net income (loss)	$	105,476	$	(56,690)	$	142,941	$	27,396	$	(113,647)	$	105,476
Comprehensive income (loss)	$	109,077	$	(56,690)	$	142,941	$	30,997	$	(117,248)	$	109,077

Condensed Consolidating Statement of Cash Flows

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2019


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantor		Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	140,881	$	164,587	$	31,533	$	(105,860)	$	—	$	231,141

Purchases of property and equipment		—		—		(31,576)		(78,027)		—		(109,603)
Collection of notes receivable		—		—		—		13,211		—		13,211
Purchase of additional interest in Gaylord Rockies joint venture		—		—		—		(5,481)		—		(5,481)
Investment in other joint ventures		—		—		—		(2,241)		—		(2,241)
Other investing activities		—		—		—		236		—		236
Net cash used in investing activities		—		—		(31,576)		(72,302)		—		(103,878)

Net repayments under revolving credit facility		—		(302,000)		—		—		—		(302,000)
Repayments under term loan B		—		(3,750)		—		—		—		(3,750)
Issuance of senior notes		—		500,000		—		—		—		500,000
Redemption of senior notes		—		(350,000)		—		—		—		(350,000)
Borrowing under Gaylord Rockies term loan		—		—		—		800,000		—		800,000
Repayment of Gaylord Rockies construction and mezzanine loans		—		—		—		(496,612)		—		(496,612)
Deferred financing costs paid		—		(8,421)		—		(9,166)		—		(17,587)
Payment of dividends		(137,037)		—		—		—		—		(137,037)
Distribution from consolidated joint venture to noncontrolling interest partners		—		—		—		(105,793)		—		(105,793)
Payment of tax withholdings for share-based compensation		(3,965)		—		—		—		—		(3,965)
Other financing activities		71		—		—		(220)		—		(149)
Net cash provided by (used in) financing activities		(140,931)		(164,171)		—		188,209		—		(116,893)

Net change in cash, cash equivalents, and restricted cash		(50)		416		(43)		10,047		—		10,370
Cash, cash equivalents, and restricted cash, beginning of period		81		657		54		148,297		—		149,089
Cash, cash equivalents, and restricted cash, end of period	$	31	$	1,073	$	11	$	158,344	$	—	$	159,459

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2018


	Parent						Non-
(in thousands)	Guarantor		Issuer		Guarantors		Guarantor		Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	132,910	$	(94,109)	$	56,336	$	130,139	$	—	$	225,276

Purchases of property and equipment		—		—		(56,180)		(76,624)		—		(132,804)
Collection of notes receivable		—		—		—		2,560		—		2,560
Purchase of remaining interest in Opry City Stage		—		—		—		(3,948)		—		(3,948)
Investment in other joint ventures		—		—		—		(2,199)		—		(2,199)
Other investing activities		—		—		—		(6,151)		—		(6,151)
Net cash used in investing activities		—		—		(56,180)		(86,362)		—		(142,542)

Net borrowings under revolving credit facility		—		99,000		—		—		—		99,000
Repayments under term loan B		—		(2,500)		—		—		—		(2,500)
Deferred financing costs paid		—		(642)		—		—		—		(642)
Payment of dividends		(128,769)		—		—		—		—		(128,769)
Payment of tax withholdings for share-based compensation		(4,121)		—		—		—		—		(4,121)
Other financing activities		—		—		—		(15)		—		(15)
Net cash provided by (used in) financing activities		(132,890)		95,858		—		(15)		—		(37,047)

Net change in cash, cash equivalents, and restricted cash		20		1,749		156		43,762		—		45,687
Cash, cash equivalents, and restricted cash, beginning of period		38		759		36		77,877		—		78,710
Cash, cash equivalents, and restricted cash, end of period	$	58	$	2,508	$	192	$	121,639	$	—	$	124,397

Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Mar. 31, 2018
Schedule of Equity Method Investments [Line Items]
Right-of-use asset		$ 100,900
Operating lease liabilities	$ 105,864	100,900
Straight-line lease liability		100,100
Right-of-use assets, net		$ 800
Cumulative prior period adjustment to retained earnings			$ (134)
ASU 2018-02 [Member]
Schedule of Equity Method Investments [Line Items]
Cumulative prior period adjustment to retained earnings	$ 2,700
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	62.10%

Revenues - Revenues Disaggregated by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 379,787	$ 292,249	$ 1,158,281	$ 914,553
Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	134,950	103,181	411,866	332,490
Hotel Group Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	93,172	69,258	301,932	241,804
Hotel Transient Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	41,778	33,923	109,934	90,686
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	155,173	118,496	499,346	392,488
Hotel Food And Beverage Banquets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	104,961	82,742	354,678	280,729
Hotel Food And Beverage Outlets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	50,212	35,754	144,668	111,759
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	38,134	27,563	111,684	81,129
Entertainment [Member]
Disaggregation of Revenue [Line Items]
Total revenues	51,530	43,009	135,385	108,446
Entertainment Admissions And Ticketing [Member]
Disaggregation of Revenue [Line Items]
Total revenues	24,075	19,215	59,658	51,282
Entertainment Food And Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	17,617	14,606	47,504	33,000
Entertainment Retail And Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 9,838	$ 9,188	$ 28,223	$ 24,164

Revenues - Hospitality Segment Revenues Disaggregated by Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 379,787	$ 292,249	$ 1,158,281	$ 914,553
Hospitality [Member]
Disaggregation of Revenue [Line Items]
Total revenues	328,257	249,240	1,022,896	806,107
Hospitality [Member] \| Gaylord Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	90,186	80,591	278,131	258,251
Hospitality [Member] \| Gaylord Palms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	40,854	38,901	148,127	147,071
Hospitality [Member] \| Gaylord Texan [Member]
Disaggregation of Revenue [Line Items]
Total revenues	66,508	62,826	207,873	179,794
Hospitality [Member] \| Gaylord National [Member]
Disaggregation of Revenue [Line Items]
Total revenues	59,128	60,304	202,886	200,747
Hospitality [Member] \| Gaylord Rockies [Member]
Disaggregation of Revenue [Line Items]
Total revenues	64,949		165,628
Hospitality [Member] \| AC Hotel [Member]
Disaggregation of Revenue [Line Items]
Total revenues	2,882	2,496	8,631	8,378
Hospitality [Member] \| Inn at Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,750	$ 4,122	$ 11,620	$ 11,866

Revenues - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Contract with Customer, Liability [Abstract]
Deferred revenues	$ 84.7	$ 69.3
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 52.7

Income Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
Income Per Share (Details) - shares shares in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average shares outstanding - basic (in shares)	51,444	51,325	51,411	51,281
Effect of dilutive stock-based compensation (in shares)	125	194	152	195
Effect of dilutive put rights (in shares)	263		263
Weighted average shares outstanding - diluted (in shares)	51,832	51,519	51,826	51,476

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ 469,577				$ 469,577
Other Comprehensive Income (Loss), Net of Tax	$ (7,593)	$ 98	109	$ 3,439	$ 84	$ 78
Tax benefit and Translation adjustment related to adoption of ASU						(134)
Ending balance	311,478						311,478
Interest Rate Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Losses (gains) arising during period							(3,789)
Amounts reclassified from accumulated other comprehensive loss							(1,197)
Net other comprehensive income							(4,986)
Ending balance	(4,986)						(4,986)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(21,814)			(20,149)	(21,814)	$ (20,149)
Losses (gains) arising during period							(5,164)	3,439
Amounts reclassified from accumulated other comprehensive loss							1,635	990
Income tax benefit							(880)	1,077
Net other comprehensive income							(2,649)	3,352
Tax benefit and Translation adjustment related to adoption of ASU	(2,707)						(2,707)
Ending balance	(27,170)			(16,797)			(27,170)	(16,797)
Accumulated Other-than-Temporary Impairment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(6,210)			(6,543)	(6,210)	(6,543)
Amounts reclassified from accumulated other comprehensive loss							249	249
Net other comprehensive income							249	249
Ending balance	(5,961)			(6,294)			(5,961)	(6,294)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(28,024)			(26,692)	(28,024)	(26,692)
Losses (gains) arising during period							(8,953)	3,439
Amounts reclassified from accumulated other comprehensive loss							687	1,239
Income tax benefit							(880)	1,077
Net other comprehensive income							(7,386)	3,601
Other Comprehensive Income (Loss), Net of Tax	(7,593)	$ 98	$ 109	3,439	$ 84	$ 78
Tax benefit and Translation adjustment related to adoption of ASU	(2,707)						(2,707)
Ending balance	$ (38,117)			$ (23,091)			$ (38,117)	$ (23,091)

Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Right-of-use finance lease assets	$ 1,613
Property and equipment, gross	4,797,870	$ 4,688,518
Accumulated depreciation	(1,666,505)	(1,539,423)
Property and equipment, net	3,131,365	3,149,095
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	348,867	347,654
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,427,468	3,379,041
Furniture, fixtures and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	963,901	913,528
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 56,021	$ 48,295

Notes Receivable - General Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values	$ 107,544	$ 122,209
Bonds A Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Jul. 01, 2034
Bonds A Series [Member] \| Gaylord Rockies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Dec. 01, 2030
Bonds B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Sep. 01, 2037
Bonds B Series [Member] \| Gaylord Rockies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Dec. 01, 2040
Bonds A and B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values	$ 107,500	111,000
Bonds A and B Series [Member] \| Gaylord Rockies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values		$ 11,200

Notes Receivable - Interest Income and Payments Received (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 2,878	$ 2,678	$ 8,756	$ 8,197
Payment received relating to notes receivables			13,211	2,560
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 2,500	$ 2,600	7,700	7,900
Payment received relating to notes receivables			$ 11,300	$ 10,900

Debt - Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance lease obligations		$ 1,351	$ 618
Total debt		2,581,312	2,441,895
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt			457,090
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt			37,488
Revolving Credit Facility [Member] \| Subsequent event
Debt Instrument [Line Items]
Long-term debt	$ 700,000
Term Loan A \| Subsequent event
Debt Instrument [Line Items]
Long-term debt	$ 200,000
Line of Credit [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt		218,430	518,458
Secured Debt [Member] \| $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Long-term debt		199,040	198,780
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Long-term debt		482,863	485,943
Secured Debt [Member] \| $800M Term Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt		791,454
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt			347,615
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt		396,559	$ 395,903
Senior Notes [Member] \| $500 Million 4.75% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt		$ 491,615

Debt - General Information (Details) - USD ($)		9 Months Ended		12 Months Ended
Debt - General Information (Details) - USD ($)	Jul. 02, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Oct. 31, 2019
Debt Instrument [Line Items]
Write-off of deferred financing costs		$ 2,833,000	$ 1,956,000
$800M Term Loan (Gaylord Rockies JV) [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Face amount	$ 800,000,000.0
Debt instrument, maturity date	Jul. 02, 2023
$800M Term Loan (Gaylord Rockies JV) [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		2.50%
$800M Term Loan (Gaylord Rockies JV) [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.50%
$80M Additional facility (Gaylord Rockies JV) \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Face amount	$ 80,000,000.0
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000		$ 500,000,000
Debt instrument, maturity date		Dec. 18, 2019
Unamortized deferred financing costs		$ 0		1,807,000
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		$ 39,000,000		39,000,000
Debt instrument, maturity date		Dec. 18, 2019
Unamortized deferred financing costs		$ 0		227,000
Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		700,000,000
Term Loan B \| Subsequent event
Debt Instrument [Line Items]
Face amount					$ 500,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 700,000,000		700,000,000
Credit facility, maturity date		May 23, 2021
Unamortized deferred financing costs		$ 4,570,000		6,542,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.80%
Secured Debt [Member] \| $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount		$ 200,000,000		200,000,000
Credit facility, maturity date		May 23, 2022
Unamortized deferred financing costs		$ 960,000		1,220,000
Secured Debt [Member] \| $200 Million Term Loan A [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.75%
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000		500,000,000
Credit facility, maturity date		May 11, 2024
Unamortized deferred financing costs		$ 4,637,000		$ 5,307,000
Percentage of amortization of original principal balance (as a percent)		1.00%		1.00%
Secured Debt [Member] \| $500 Million Term Loan B [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		2.00%
Secured Debt [Member] \| $800M Term Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		$ 800,000,000		$ 800,000,000
Debt instrument, maturity date		Jul. 02, 2023
Unamortized deferred financing costs		$ 8,546,000		0
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 350,000,000		350,000,000
Stated interest rate (as a percent)		5.00%
Debt instrument, maturity date		Apr. 15, 2021
Unamortized deferred financing costs		$ 0		2,385,000
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 400,000,000		400,000,000
Stated interest rate (as a percent)		5.00%
Debt instrument, maturity date		Apr. 15, 2023
Unamortized deferred financing costs		$ 3,441,000		4,097,000
Senior Notes [Member] \| $500 Million 4.75% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000		500,000,000
Stated interest rate (as a percent)		4.75%
Debt instrument, maturity date		Oct. 15, 2027
Unamortized deferred financing costs		$ 8,385,000		$ 0
Senior Notes [Member] \| $800M Term Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		$ 800,000,000

Debt - $800 Million Term Loan (Details)		3 Months Ended	9 Months Ended
Debt - $800 Million Term Loan (Details)	Jul. 02, 2019 USD ($) item	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Write-off of deferred financing costs			$ 2,833,000	$ 1,956,000
Purchase price			2,241,000	$ 2,199,000
Gaylord Rockies [Member]
Debt Instrument [Line Items]
Distribution from consolidated joint venture			$ (95,000,000)
Distribution received	$ 153,000,000
Percentage of guarantee repayment of principal debt			10.00%
Equity interest (as a percent)		62.10%	62.10%
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000	$ 500,000,000		$ 500,000,000
Debt instrument, maturity date			Dec. 18, 2019
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		39,000,000	$ 39,000,000		39,000,000
Debt instrument, maturity date			Dec. 18, 2019
$500M Construction Loan (Gaylord Rockies JV) and $39M Mezzanine Loan (Gaylord Rockies JV) [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Write-off of deferred financing costs		1,100,000	$ 1,100,000
$800M Term Loan (Gaylord Rockies JV) [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Face amount	$ 800,000,000.0
Debt instrument, maturity date	Jul. 02, 2023
Number of options \| item	3
Extended term	1 year
Percentage of guarantee repayment of principal debt	10.00%
$800M Term Loan (Gaylord Rockies JV) [Member] \| Interest rate swaps \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Interest rate (as a percent)	1.65%
Interest rate swap period	3 years
$800M Term Loan (Gaylord Rockies JV) [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)			2.50%
$800M Term Loan (Gaylord Rockies JV) [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.50%
$80M Additional facility (Gaylord Rockies JV) \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Face amount	$ 80,000,000.0
$700 Million Revolving Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		700,000,000	$ 700,000,000
Line of Credit [Member] \| $700 Million Revolving Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 700,000,000	$ 700,000,000		$ 700,000,000
Line of Credit [Member] \| $700 Million Revolving Credit Facility [Member] \| Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)			1.80%

Debt - $500 Million 4.75% Senior Notes (Details) - Senior Notes [Member] - $500 Million 4.75% Senior Notes $ in Millions	1 Months Ended
	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
Face amount	$ 500.0
Stated interest rate (as a percent)	4.75%
Debt instrument, frequency of periodic payment	semi-annually
Redemption price (as a percent)	100.00%
Redemption date	Oct. 15, 2022
Net proceeds	$ 493.0
2022
Debt Instrument [Line Items]
Redemption price (as a percent)	103.563%
2023
Debt Instrument [Line Items]
Redemption price (as a percent)	102.375%
2024
Debt Instrument [Line Items]
Redemption price (as a percent)	101.188%
2025
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%

Debt - $350 Million 5% Senior Notes (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
Debt - $350 Million 5% Senior Notes (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 494,000	$ 494,000
Unamortized deferred financing costs			2,833,000	$ 1,956,000
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 350,000,000	$ 350,000,000	$ 350,000,000		$ 350,000,000
Stated interest rate (as a percent)	5.00%	5.00%	5.00%
Redemption price of per thousand	$ 1,002.50
Aggregate tendered amount	$ 197,500,000	$ 197,500,000	$ 197,500,000
Loss on extinguishment of debt		500,000	500,000
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member] \| Interest Expense [Member]
Debt Instrument [Line Items]
Unamortized deferred financing costs		$ 1,700,000	$ 1,700,000

Debt - Fair Value of Derivative Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Derivatives designated as hedging instruments
Debt Instrument [Line Items]
Total derivatives	$ 4,986
Derivatives designated as hedging instruments \| Interest rate swaps \| Other Liabilities [Member]
Debt Instrument [Line Items]
Total derivatives	4,986
Gaylord Rockies [Member] \| Interest rate swaps
Debt Instrument [Line Items]
Notional amount	$ 800,000
Derivative, maturity date	Aug. 01, 2022

Debt - Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ 35,261	$ 19,220	$ 100,840	$ 55,574
Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(3,789)		(3,789)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	(1,197)		(1,197)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative liability	5,100		5,100
Termination value in case of breach of provisions	5,100		5,100
Interest rate swaps \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(3,789)		(3,789)
Interest rate swaps \| Derivatives in Cash Flow Hedging \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	$ (1,197)		$ (1,197)

Deferred Management Rights Proceeds (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 01, 2012	Sep. 30, 2019
Deferred Management Rights Proceeds
Sales price of management rights and intellectual property	$ 210.0
Purchase price to the Management Rights	$ 190.0
Term of management rights for income amortization		65 years

Leases (Details)	9 Months Ended
Leases (Details)	Sep. 30, 2019 a
Ole Red [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	5 years
Operating lease, renewal term	1 year
Ole Red [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	10 years
Operating lease, renewal term	40 years
Land in Osceola County, Florida [Member]
Lessee, Lease, Description [Line Items]
Area of leased property	65.3
Lease expiration year	2074
Expiration date of lease under extension	Jan. 31, 2101

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases
Operating lease cost	$ 3,167		$ 9,742
Amortization of right-of-use assets	43		120
Interest on lease liabilities	18		49
Components of lease cost
Net lease cost	$ 3,228		$ 9,911
Lease expense for operating leases		$ 3,900		$ 10,500

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due [Abstract]
Year 1	$ 6,159
Year 2	6,206
Year 3	5,942
Year 4	5,973
Year 5	5,823
Years thereafter	575,562
Total future minimum lease payments	605,665
Less amount representing interest	(499,801)
Total present value of minimum payments	105,864	$ 100,900
Finance Lease Liabilities, Payments, Due [Abstract]
Year 1	260
Year 2	260
Year 3	241
Year 4	232
Year 5	60
Years thereafter	609
Total future minimum lease payments	1,662
Less amount representing interest	(311)
Total present value of minimum payments	$ 1,351		$ 618

Leases - Discount Rate (Details)	Sep. 30, 2019
Weighted-average remaining lease term (years):
Operating leases	51 years 1 month 6 days
Finance leases	10 years 2 months 12 days
Operating leases	6.80%
Finance leases	4.00%

Stock Plans - Restricted Stock Units - Weighted-Average Grant Date Fair Value of Units Granted (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted stock award granted by Company (in shares)	0.1
Weighted-average grant-date fair value of restricted stock awards granted (in dollars per share)	$ 89.38
Restricted stock award, outstanding (in shares)	0.3	0.4

Stock Plans - Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Stock Plans
Compensation cost on stock-based compensation plans	$ 1.9	$ 5.9	$ 5.8

Pension and Postretirement Benefits Other Than Pension Plans - Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net settlement loss	$ 1,577	$ 1,004	$ 1,577	$ 1,004
Pension Plan [Member] \| Qualified Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	798	808	2,554	2,422
Expected return on plan assets	(935)	(1,087)	(2,822)	(3,259)
Amortization of net actuarial loss	293	259	866	778
Net settlement loss	1,600	1,000	1,600	1,000
Total net periodic benefit cost (credit)	1,733	984	2,175	945
Postretirement Health Coverage [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	26	24	76	72
Amortization of net actuarial loss	55	64	178	193
Amortization of prior service credit	(329)	(329)	(986)	(986)
Total net periodic benefit cost (credit)	$ (248)	$ (241)	$ (732)	$ (721)

Pension and Postretirement Benefits Other Than Pension Plans - Qualified Plan - Net Settlement Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment [Abstract]
Net settlement loss	$ 1,577	$ 1,004	$ 1,577	$ 1,004
Pension Plan [Member] \| Qualified Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment [Abstract]
Net settlement loss	$ 1,600	$ 1,000	$ 1,600	$ 1,000

Pension and Postretirement Benefits Other Than Pension Plans - Discount Rate to Determine the Benefit Obligation (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Aug. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)		2.63%	3.95%
Decrease accumulated other comprehensive loss	$ 5.2

Income Taxes - Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Provision for income taxes	$ 3,537	$ 1,863	$ 13,743	$ 9,748
Unrecognized tax benefits	$ 0		$ 0		$ 0

Commitments and Contingencies (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Apr. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Interest in Joint Venture		$ 2,241	$ 2,199
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of guarantee repayment of principal debt		10.00%
Equity Method Investment, Ownership Percentage		62.10%
New Country Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Payments to Acquire Interest in Joint Venture	$ 2,000
Additional possible contribution	$ 13,000

Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Loss
Dividends declared per common share (in dollars per share)	$ 0.90	$ 0.90	$ 0.90	$ 0.85	$ 2.70	$ 2.55
Aggregated dividend paid	$ 46.3	$ 46.3	$ 46.3
Dividend payable date declared	Sep. 16, 2019	Jun. 18, 2019	Feb. 26, 2019
Common stock Dividend Payable Date	Oct. 15, 2019	Jul. 15, 2019	Apr. 15, 2019
Dividend payable date of record	Sep. 30, 2019	Jun. 28, 2019	Mar. 29, 2019

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 27,827	$ 24,687
Total assets measured at fair value	27,827	24,687
Total liabilities measured at fair value	4,986
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	4,986
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	27,827	24,687
Total assets measured at fair value	$ 27,827	$ 24,687

Financial Reporting By Business Segments - General Information (Details)	9 Months Ended
	Sep. 30, 2019 segment
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of business segments	3

Financial Reporting By Business Segments - Internal Financial Reports (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	$ 379,787	$ 292,249	$ 1,158,281	$ 914,553
Depreciation and amortization	53,998	30,994	160,560	89,655
Preopening costs	(164)	(300)	(2,274)	(3,972)
Impairment charges		(4,540)		(4,540)
Total operating income	56,503	40,100	195,783	162,743
Interest expense	(35,261)	(19,220)	(100,840)	(55,574)
Interest income	2,878	2,678	8,756	8,197
Loss on extinguishment of debt	(494)		(494)
Loss from joint ventures	(308)	(985)	(475)	(2,227)
Income before income taxes	24,427	24,454	103,587	115,224
Hospitality [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	328,257	249,240	1,022,896	806,107
Depreciation and amortization	50,445	27,946	150,909	81,379
Preopening costs		(200)	(600)	(2,200)
Total operating income	52,116	43,518	191,563	175,213
Entertainment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	51,530	43,009	135,385	108,446
Depreciation and amortization	3,132	2,613	8,441	6,885
Preopening costs		(100)	(1,600)	(1,700)
Total operating income	14,376	9,069	34,222	20,614
Corporate and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Depreciation and amortization	421	435	1,210	1,391
Total operating income	$ (9,825)	$ (7,647)	$ (27,728)	$ (24,572)

Subsequent Events (Details) $ in Thousands		1 Months Ended	9 Months Ended
Subsequent Events (Details) $ in Thousands	Oct. 31, 2019 USD ($)	Oct. 31, 2019 USD ($) item	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Oct. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)
Subsequent event \| $700 Million 4.75% Senior Notes
Subsequent Events
Face amount	$ 700,000	$ 700,000
Interest rate	4.75%	4.75%
Subsequent event \| Additional 2027 notes
Subsequent Events
Face amount	$ 200,000	$ 200,000
Interest rate	4.75%	4.75%
Issue price percentage		101.25%
Net proceeds		$ 199,000
Subsequent event \| $500 Million 4.75% Senior Notes
Subsequent Events
Face amount	$ 500,000	$ 500,000
Interest rate	4.75%	4.75%
Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Subsequent Events
Maximum borrowing capacity			$ 700,000
Revolving Credit Facility [Member] \| Subsequent event
Subsequent Events
Debt amount	$ 700,000	$ 700,000
Revolving Credit Facility [Member] \| Sixth Amended And Restated Credit Agreement [Member] \| Subsequent event
Subsequent Events
Maximum borrowing capacity	700,000	700,000
Accordion feature allowing potential increase to credit facility	$ 600,000	600,000			$ 500,000
Debt instrument, maturity date	Mar. 31, 2024
Term Loan A \| Subsequent event
Subsequent Events
Debt amount	$ 200,000	200,000
Term Loan A \| Sixth Amended And Restated Credit Agreement [Member] \| Subsequent event
Subsequent Events
Face amount	$ 300,000	300,000
Debt instrument, maturity date	Mar. 31, 2025
Net proceeds	$ 94,000
Term Loan A \| Sixth Amended And Restated Credit Agreement [Member] \| Subsequent event \| $200 Million Term Loan A [Member]
Subsequent Events
Face amount	200,000	$ 200,000
Term Loan B
Subsequent Events
Number of interest rate swaps \| item		4
Repayment of loan			3,750	$ 2,500
Term Loan B \| Subsequent event
Subsequent Events
Face amount	500,000	$ 500,000
Repayment of loan	100,000
Term Loan B \| Sixth Amended And Restated Credit Agreement [Member] \| Subsequent event
Subsequent Events
Face amount	500,000	500,000
Line of Credit [Member] \| $700 Million Revolving Credit Facility [Member]
Subsequent Events
Debt amount			218,430			$ 518,458
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Subsequent Events
Maximum borrowing capacity			700,000			700,000
Secured Debt [Member] \| $200 Million Term Loan A [Member]
Subsequent Events
Face amount			200,000			200,000
Debt amount			$ 199,040			$ 198,780
Interest rate swaps \| Term Loan B \| Subsequent event
Subsequent Events
Face amount	500,000	500,000
Notional amount	$ 350,000	$ 350,000
Derivative, maturity date		May 01, 2023

Information Concerning Guarantor and Non-Guarantor Subsidiaries - General Information (Details)	9 Months Ended
	Sep. 30, 2019 USD ($) entity	Dec. 31, 2018 USD ($)
Condensed Financial Statements, Captions [Line Items]
Number of wholly-owned subsidiaries \| entity	4
Ownership percentage in subsidiaries (as a percent)	100.00%
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 350,000,000	$ 350,000,000
Stated interest rate (as a percent)	5.00%
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)	5.00%
Senior Notes [Member] \| $700 Million 4.75% Senior Notes
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 700,000,000
Stated interest rate (as a percent)	4.75%

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018
ASSETS:
Property and equipment, net of accumulated depreciation	$ 3,131,365		$ 3,149,095
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	101,786		103,437	$ 86,025
Cash and cash equivalents - restricted (including $8,297 and $5 from VIEs, respectively)	57,673		45,652	$ 38,372
Notes receivable	107,544		122,209
Trade receivables, less allowance	83,168		67,923
Deferred income tax assets, net	30,572		40,557
Prepaid expenses and other assets	101,534		78,240
Intangible assets	217,095		246,770
Total assets	3,830,737		3,853,883
LIABILITIES AND EQUITY:
Debt and capital lease obligations	2,581,312		2,441,895
Accounts payable and accrued liabilities	258,045		274,890
Dividends payable	47,303		45,019
Deferred management rights proceeds	176,105		174,026
Operating lease liabilities	105,864	$ 100,900
Other liabilities	71,278		161,043
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	279,352		287,433
Stockholders' equity:
Preferred stock
Common stock	514		513
Additional paid-in-capital	900,247		900,795
Treasury stock	(16,763)		(15,183)
Accumulated deficit	(534,403)		(388,524)
Accumulated other comprehensive loss	(38,117)		(28,024)
Total stockholders' equity	311,478		469,577
Total liabilities and stockholders' equity	3,830,737		3,853,883
Reportable Legal Entities [Member] \| Parent Company [Member]
ASSETS:
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	31		81
Investments	1,045,602		1,101,740
Total assets	1,045,633		1,101,821
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	37		50
Dividends payable	47,303		45,019
Intercompany payables, net	686,815		587,175
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	514		513
Additional paid-in-capital	900,247		900,795
Treasury stock	(16,763)		(15,183)
Accumulated deficit	(534,403)		(388,524)
Accumulated other comprehensive loss	(38,117)		(28,024)
Total stockholders' equity	311,478		469,577
Total liabilities and stockholders' equity	1,045,633		1,101,821
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member]
ASSETS:
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	1,073		657
Prepaid expenses and other assets	58		34
Investments	2,949,445		2,950,457
Total assets	2,950,576		2,951,148
LIABILITIES AND EQUITY:
Debt and capital lease obligations	1,788,505		1,946,699
Accounts payable and accrued liabilities	15,540		13,752
Intercompany payables, net	1,214,674		846,478
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1		1
Additional paid-in-capital	362,213		499,122
Accumulated deficit	(430,357)		(354,904)
Total stockholders' equity	(68,143)		144,219
Total liabilities and stockholders' equity	2,950,576		2,951,148
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,629,425		1,646,946
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	11		54
Deferred income tax assets, net	(408)		(444)
Prepaid expenses and other assets	6
Intercompany receivables, net	2,061,746		1,895,086
Investments	708,820		710,516
Total assets	4,399,600		4,252,158
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	4,376		7,253
Operating lease liabilities	103,574
Other liabilities			100,068
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1		1
Additional paid-in-capital	2,894,830		2,895,842
Accumulated deficit	1,396,819		1,248,994
Total stockholders' equity	4,291,650		4,144,837
Total liabilities and stockholders' equity	4,399,600		4,252,158
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,501,940		1,502,149
Cash and cash equivalents - unrestricted (including $34,170 and $11,648 from VIEs, respectively)	100,671		102,645
Cash and cash equivalents - restricted (including $8,297 and $5 from VIEs, respectively)	57,673		45,652
Notes receivable	107,544		122,209
Trade receivables, less allowance	83,168		67,923
Deferred income tax assets, net	30,980		41,001
Prepaid expenses and other assets	115,836		79,460
Intangible assets	217,095		246,770
Investments	1,741,511		1,898,756
Total assets	3,956,418		4,106,565
LIABILITIES AND EQUITY:
Debt and capital lease obligations	792,807		495,196
Accounts payable and accrued liabilities	246,768		255,089
Deferred management rights proceeds	176,105		174,026
Operating lease liabilities	7,980
Other liabilities	71,278		60,975
Intercompany payables, net	160,257		461,433
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	279,352		287,433
Stockholders' equity:
Preferred stock
Common stock	2,387		2,387
Additional paid-in-capital	2,506,978		2,668,134
Accumulated deficit	(249,377)		(270,084)
Accumulated other comprehensive loss	(38,117)		(28,024)
Total stockholders' equity	2,221,871		2,372,413
Total liabilities and stockholders' equity	3,956,418		4,106,565
Consolidation, Eliminations [Member]
ASSETS:
Prepaid expenses and other assets	(14,366)		(1,254)
Intercompany receivables, net	(2,061,746)		(1,895,086)
Investments	(6,445,378)		(6,661,469)
Total assets	(8,521,490)		(8,557,809)
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	(8,676)		(1,254)
Operating lease liabilities	(5,690)
Intercompany payables, net	(2,061,746)		(1,895,086)
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	(2,389)		(2,389)
Additional paid-in-capital	(5,764,021)		(6,063,098)
Accumulated deficit	(717,085)		(624,006)
Accumulated other comprehensive loss	38,117		28,024
Total stockholders' equity	(6,445,378)		(6,661,469)
Total liabilities and stockholders' equity	$ (8,521,490)		$ (8,557,809)

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 379,787			$ 292,249			$ 1,158,281	$ 914,553
Operating expenses:
Total hotel operating expenses	225,696			177,776			680,424	549,515
Corporate	9,404			7,212			26,518	23,181
Preopening costs	164			300			2,274	3,972
Depreciation and amortization	53,998			30,994			160,560	89,655
Impairment charges				4,540				4,540
Total operating expenses	323,284			252,149			962,498	751,810
Operating income (loss)	56,503			40,100			195,783	162,743
Interest expense	(35,261)			(19,220)			(100,840)	(55,574)
Interest income	2,878			2,678			8,756	8,197
Loss on extinguishment of debt	(494)						(494)
Loss from joint ventures	(308)			(985)			(475)	(2,227)
Other gains and (losses), net	1,109			1,881			857	2,085
Income (loss) before income taxes	24,427			24,454			103,587	115,224
Provision for income taxes	(3,537)			(1,863)			(13,743)	(9,748)
Net Income	20,890			22,591			89,844	105,476
Comprehensive income, net of taxes	13,297			26,030			82,458	109,077
Net income	22,349	$ 49,383	$ 29,408	22,591	$ 55,546	$ 27,339	101,140	105,476
Comprehensive income (loss)	16,650			26,030			95,648	109,077
Rooms [Member]
Revenues:
Total revenues	134,950			103,181			411,866	332,490
Operating expenses:
Total hotel operating expenses	37,116			29,563			108,184	88,550
Food and Beverage [Member]
Revenues:
Total revenues	155,173			118,496			499,346	392,488
Operating expenses:
Total hotel operating expenses	88,584			67,305			270,623	211,677
Hotel, Other [Member]
Revenues:
Total revenues	38,134			27,563			111,684	81,129
Operating expenses:
Total hotel operating expenses	91,608			74,350			273,074	226,965
Management Fees [Member]
Operating expenses:
Total hotel operating expenses	8,388			6,558			28,543	22,323
Entertainment [Member]
Revenues:
Total revenues	51,530			43,009			135,385	108,446
Operating expenses:
Total hotel operating expenses	34,022			31,327			92,722	80,947
Reportable Legal Entities [Member] \| Parent Company [Member]
Operating expenses:
Corporate	63			63			188	188
Corporate overhead allocation	1,036			2,873			3,047	7,983
Total operating expenses	1,099			2,936			3,235	8,171
Operating income (loss)	(1,099)			(2,936)			(3,235)	(8,171)
Income (loss) before income taxes	(1,099)			(2,936)			(3,235)	(8,171)
Equity in subsidiaries' earnings, net	21,989			25,527			93,079	113,647
Net Income	20,890			22,591			89,844	105,476
Comprehensive income, net of taxes	13,297			26,030			82,458	109,077
Net income	22,349						101,140
Comprehensive income (loss)	16,650						95,648
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member]
Operating expenses:
Corporate	482			410			1,362	1,135
Total operating expenses	482			410			1,362	1,135
Operating income (loss)	(482)			(410)			(1,362)	(1,135)
Interest expense	(25,093)			(19,214)			(73,758)	(55,555)
Interest income	3						161
Loss on extinguishment of debt	(494)						(494)
Income (loss) before income taxes	(26,066)			(19,624)			(75,453)	(56,690)
Net Income	(26,066)			(19,624)			(75,453)	(56,690)
Comprehensive income, net of taxes	(26,066)			(19,624)			(75,453)	(56,690)
Net income	(26,066)						(75,453)
Comprehensive income (loss)	(26,066)						(75,453)
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Total revenues	81,154			76,592			242,630	229,608
Operating expenses:
Total hotel operating expenses	12,218			11,510			36,515	34,387
Corporate	(1)						2	2
Corporate overhead allocation	3,083			2,369			9,089	6,533
Depreciation and amortization	16,394			15,548			49,126	45,583
Total operating expenses	31,694			29,427			94,732	86,505
Operating income (loss)	49,460			47,165			147,898	143,103
Income (loss) before income taxes	49,460			47,165			147,898	143,103
Provision for income taxes	(27)			(78)			(73)	(162)
Net Income	49,433			47,087			147,825	142,941
Comprehensive income, net of taxes	49,433			47,087			147,825	142,941
Net income	49,433						147,825
Comprehensive income (loss)	49,433						147,825
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member] \| Hotel, Other [Member]
Revenues:
Total revenues	81,154			76,592			242,630	229,608
Operating expenses:
Total hotel operating expenses	12,218			11,510			36,515	34,387
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Revenues:
Total revenues	394,841			297,377			1,202,901	928,753
Operating expenses:
Total hotel operating expenses	305,567			242,744			918,970	744,396
Corporate	8,860			6,739			24,966	21,856
Preopening costs	164			300			2,274	3,972
Depreciation and amortization	37,604			15,446			111,434	44,072
Impairment charges				4,540				4,540
Total operating expenses	386,217			301,096			1,150,419	899,807
Operating income (loss)	8,624			(3,719)			52,482	28,946
Interest expense	(10,366)			(6)			(27,707)	(19)
Interest income	3,073			2,678			9,220	8,197
Loss from joint ventures	(308)			(985)			(475)	(2,227)
Other gains and (losses), net	1,109			1,881			857	2,085
Income (loss) before income taxes	2,132			(151)			34,377	36,982
Provision for income taxes	(3,510)			(1,785)			(13,670)	(9,586)
Net Income	(1,378)			(1,936)			20,707	27,396
Comprehensive income, net of taxes	(8,971)			1,503			13,321	30,997
Net income	(1,378)						20,707
Comprehensive income (loss)	(7,077)						15,215
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Rooms [Member]
Revenues:
Total revenues	134,950			103,181			411,866	332,490
Operating expenses:
Total hotel operating expenses	37,116			29,563			108,184	88,550
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Food and Beverage [Member]
Revenues:
Total revenues	155,173			118,496			499,346	392,488
Operating expenses:
Total hotel operating expenses	88,584			67,305			270,623	211,677
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Hotel, Other [Member]
Revenues:
Total revenues	52,546			32,691			154,589	95,305
Operating expenses:
Total hotel operating expenses	171,479			139,318			511,620	421,846
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Management Fees [Member]
Operating expenses:
Total hotel operating expenses	8,388			6,558			28,543	22,323
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Entertainment [Member]
Revenues:
Total revenues	52,172			43,009			137,100	108,470
Operating expenses:
Total hotel operating expenses	34,022			31,327			92,775	80,971
Consolidation, Eliminations [Member]
Revenues:
Total revenues	(96,208)			(81,720)			(287,250)	(243,808)
Operating expenses:
Total hotel operating expenses	(92,089)			(76,478)			(275,061)	(229,268)
Corporate overhead allocation	(4,119)			(5,242)			(12,136)	(14,516)
Total operating expenses	(96,208)			(81,720)			(287,250)	(243,808)
Interest expense	198						625
Interest income	(198)						(625)
Equity in subsidiaries' earnings, net	(21,989)			(25,527)			(93,079)	(113,647)
Net Income	(21,989)			(25,527)			(93,079)	(113,647)
Comprehensive income, net of taxes	(14,396)			(28,966)			(85,693)	(117,248)
Net income	(21,989)						(93,079)
Comprehensive income (loss)	(16,290)						(87,587)
Consolidation, Eliminations [Member] \| Hotel, Other [Member]
Revenues:
Total revenues	(95,566)			(81,720)			(285,535)	(243,784)
Operating expenses:
Total hotel operating expenses	(92,089)			$ (76,478)			(275,061)	(229,268)
Consolidation, Eliminations [Member] \| Entertainment [Member]
Revenues:
Total revenues	$ (642)						(1,715)	(24)
Operating expenses:
Total hotel operating expenses							$ (53)	$ (24)

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	$ 231,141	$ 225,276
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(109,603)	(132,804)
Collection of notes receivable	13,211	2,560
Investment in joint ventures	(2,241)	(2,199)
Other investing activities	236	(6,151)
Net cash used in investing activities	(103,878)	(142,542)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings (repayments) under revolving credit facility	(302,000)	99,000
Issuance of senior notes	500,000
Redemption of senior notes	(350,000)
Deferred financing costs paid	(17,587)	(642)
Payment of dividends	(137,037)	(128,769)
Distribution from consolidated joint venture to noncontrolling interest partners	(105,793)
Payment of tax withholdings for share-based compensation	(3,965)	(4,121)
Other financing activities	(149)	(15)
Net cash flows used in financing activities	(116,893)	(37,047)
Net change in cash, cash equivalents, and restricted cash	10,370	45,687
Cash, cash equivalents, and restricted cash, beginning of period	149,089	78,710
Cash, cash equivalents, and restricted cash, end of period	159,459	124,397
Gaylord Rockies [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest	(5,481)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowing under Gaylord Rockies term loan	800,000
Repayment of Gaylord Rockies construction and mezzanine loans	(496,612)
Opry City Stage [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest		(3,948)
Term Loan B
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of loans	(3,750)	(2,500)
Reportable Legal Entities [Member] \| Parent Company [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	140,881	132,910
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payment of dividends	(137,037)	(128,769)
Payment of tax withholdings for share-based compensation	(3,965)	(4,121)
Other financing activities	71
Net cash flows used in financing activities	(140,931)	(132,890)
Net change in cash, cash equivalents, and restricted cash	(50)	20
Cash, cash equivalents, and restricted cash, beginning of period	81	38
Cash, cash equivalents, and restricted cash, end of period	31	58
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	164,587	(94,109)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings (repayments) under revolving credit facility	(302,000)	99,000
Issuance of senior notes	500,000
Redemption of senior notes	(350,000)
Deferred financing costs paid	(8,421)	(642)
Net cash flows used in financing activities	(164,171)	95,858
Net change in cash, cash equivalents, and restricted cash	416	1,749
Cash, cash equivalents, and restricted cash, beginning of period	657	759
Cash, cash equivalents, and restricted cash, end of period	1,073	2,508
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member] \| Term Loan B
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of loans	(3,750)	(2,500)
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	31,533	56,336
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(31,576)	(56,180)
Net cash used in investing activities	(31,576)	(56,180)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net change in cash, cash equivalents, and restricted cash	(43)	156
Cash, cash equivalents, and restricted cash, beginning of period	54	36
Cash, cash equivalents, and restricted cash, end of period	11	192
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	(105,860)	130,139
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(78,027)	(76,624)
Collection of notes receivable	13,211	2,560
Investment in joint ventures	(2,241)	(2,199)
Other investing activities	236	(6,151)
Net cash used in investing activities	(72,302)	(86,362)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Deferred financing costs paid	(9,166)
Distribution from consolidated joint venture to noncontrolling interest partners	(105,793)
Other financing activities	(220)	(15)
Net cash flows used in financing activities	188,209	(15)
Net change in cash, cash equivalents, and restricted cash	10,047	43,762
Cash, cash equivalents, and restricted cash, beginning of period	148,297	77,877
Cash, cash equivalents, and restricted cash, end of period	158,344	121,639
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Gaylord Rockies [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest	(5,481)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowing under Gaylord Rockies term loan	800,000
Repayment of Gaylord Rockies construction and mezzanine loans	$ (496,612)
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Opry City Stage [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest		$ (3,948)