0001558370-22-002101 | 10-K | XBRL Viewer | Ryman Hospitality Properties INC

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS:
Property and equipment, net (including $0 and $932,473 from VIEs, respectively)	$ 3,031,844	$ 3,117,247
Cash and cash equivalents - unrestricted (including $0 and $14,441 from VIEs, respectively)	140,688	56,697
Cash and cash equivalents - restricted	22,312	23,057
Notes receivable, net	71,228	71,923
Trade receivables, net	74,745	20,106
Prepaid expenses and other assets (including $0 and $32,966 from VIEs, respectively)	112,904	100,494
Intangible assets, net (including $0 and $162,366 from VIEs, respectively)	126,804	166,971
Total assets	3,580,525	3,556,495
LIABILITIES AND EQUITY:
Debt and finance lease obligations (including $0 and $794,416 from VIEs, respectively)	2,936,819	2,658,008
Accounts payable and accrued liabilities (including $0 and $59,573 from VIEs, respectively)	304,719	203,121
Dividends payable	386	843
Deferred management rights proceeds	170,614	172,724
Operating lease liabilities	113,770	107,569
Deferred income tax liabilities, net	4,671	665
Other liabilities (including $0 and $18,978 from VIEs, respectively)	71,939	92,779
Total liabilities	3,602,918	3,235,709
Commitments and contingencies
Noncontrolling interest in consolidated joint venture		100,969
Equity (deficit):
Preferred stock, $.01 par value, 100,000 shares authorized, no shares issued or outstanding
Common stock, $.01 par value, 400,000 shares authorized, 55,072 and 54,982 shares issued and outstanding, respectively	551	550
Additional paid-in capital	1,112,867	1,192,261
Treasury stock of 648 and 648 shares, at cost	(18,467)	(18,467)
Distributions in excess of retained earnings	(1,088,105)	(911,092)
Accumulated other comprehensive loss	(29,080)	(57,951)
Total stockholders' equity (deficit)	(22,234)	205,301
Noncontrolling interest in Operating Partnership	(159)	14,516
Total equity (deficit)	(22,393)	219,817
Total liabilities and equity (deficit)	$ 3,580,525	$ 3,556,495

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 3,031,844	$ 3,117,247
Cash and cash equivalents - unrestricted	140,688	56,697
Cash and cash equivalents - restricted	22,312	23,057
Trade receivables, net	74,745	20,106
Prepaid expenses and other assets	112,904	100,494
Intangible assets	126,804	166,971
Debt and finance lease obligations	2,936,819	2,658,008
Accounts payable and accrued liabilities	304,719	203,121
Other liabilities	$ 71,939	$ 92,779
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)	55,072,000	54,982,000
Common stock, shares outstanding (in shares)	55,072,000	54,982,000
Treasury Stock, Shares [Abstract]
Treasury stock, shares (in shares)	648,000	648,000
Variable Interest Entity [Member]
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 0	$ 932,473
Cash and cash equivalents - unrestricted	0	14,441
Prepaid expenses and other assets	0	32,966
Intangible assets	0	162,366
Debt and finance lease obligations	0	794,416
Accounts payable and accrued liabilities	0	59,573
Other liabilities	$ 0	$ 18,978

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenues	$ 939,373	$ 524,475	$ 1,604,566
Operating expenses:
Total hotel operating expenses	620,921	472,840	957,175
Entertainment	117,753	78,301	126,609
Corporate	38,597	28,795	36,282
Preopening costs	737	1,665	3,122
Gain on sale of assets	(317)	(1,161)
Credit loss on held-to-maturity securities		32,784
Depreciation and amortization	220,357	215,082	213,847
Total operating expenses	998,048	828,306	1,337,035
Operating income (loss)	(58,675)	(303,831)	267,531
Interest expense	(125,347)	(115,783)	(131,620)
Interest income	5,685	7,304	11,769
Loss on extinguishment of debt	(2,949)		(494)
Loss from unconsolidated joint ventures	(8,963)	(6,451)	(1,110)
Other gains and (losses), net	405	(14,976)	693
Loss before income taxes	(189,844)	(433,737)	146,769
Provision for income taxes	(4,957)	(27,084)	(18,475)
Net loss	(194,801)	(460,821)	128,294
Net loss attributable to noncontrolling interest in consolidated joint venture	16,501	42,474	17,500
Net loss attributable to noncontrolling interest in Operating Partnership	1,334	956
Net loss available to common stockholders	$ (176,966)	$ (417,391)	$ 145,794
Basic loss per share available to common stockholders	$ (3.21)	$ (7.59)	$ 2.82
Diluted loss per share available to common stockholders	$ (3.21)	$ (7.59)	$ 2.81
Rooms [Member]
Revenues:
Total revenues	$ 328,874	$ 171,718	$ 557,562
Operating expenses:
Total hotel operating expenses	88,244	58,943	144,834
Food and Beverage [Member]
Revenues:
Total revenues	279,489	187,538	660,770
Operating expenses:
Total hotel operating expenses	190,855	146,141	362,850
Hotel, Other [Member]
Revenues:
Total revenues	178,220	106,789	203,114
Operating expenses:
Total hotel operating expenses	327,791	260,690	409,883
Management Service [Member]
Operating expenses:
Total hotel operating expenses	14,031	7,066	39,608
Entertainment Segment [Member]
Revenues:
Total revenues	$ 152,790	$ 58,430	$ 183,120

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income (loss)	$ (194,801)	$ (460,821)	$ 128,294
Other comprehensive income (loss), before tax:
Gains (losses) arising during the period	10,314	(2,901)	693
Amount reclassified from accumulated other comprehensive loss	(110)	194	97
Total gain (loss) on minimum pension liability	10,204	(2,707)	790
Interest rate derivatives:
Gains (losses) arising during period	1,955	(39,958)	3,539
Amount reclassified from accumulated other comprehensive loss	16,501	10,505	(1,905)
Total income (loss) from interest rate derivatives	18,456	(29,453)	1,634
Other-than-temporary impairment loss on held-to-maturity securities:
Amount reclassified from accumulated other comprehensive loss	211	210	333
Total non-credit loss on other-than-temporary impairment	211	210	333
Other comprehensive income (loss), before tax	28,871	(31,950)	2,757
Income tax provision related to items of comprehensive loss			(185)
Other comprehensive income (loss), net of tax	28,871	(31,950)	2,572
Comprehensive income (loss)	(165,930)	(492,771)	130,866
Comprehensive loss, net of taxes, available to common stockholders	(149,383)	(442,913)	149,194
Consolidated Joint Venture [Member]
Other-than-temporary impairment loss on held-to-maturity securities:
Comprehensive loss, net of taxes, attributable to noncontrolling interest	15,419	48,989	$ 18,328
Operating Partnership [Member]
Other-than-temporary impairment loss on held-to-maturity securities:
Comprehensive loss, net of taxes, attributable to noncontrolling interest	$ 1,128	$ 869

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Net loss	$ (194,801)	$ (460,821)	$ 128,294
Amounts to reconcile net loss to net cash flows provided by (used in) operating activities:
Provision for deferred income taxes	4,006	26,526	14,414
Depreciation and amortization	220,357	215,082	213,847
Amortization of deferred financing costs	8,790	7,948	7,662
Credit loss on held-to-maturity securities		32,784
Forfeiture of Block 21 earnest deposit		15,000
Write-off of deferred financing costs		281	3,079
Loss from unconsolidated joint ventures	8,963	6,451	1,110
Stock-based compensation expense	12,104	8,732	7,833
Changes in:
Trade receivables	(54,639)	50,501	(2,844)
Accounts payable and accrued liabilities	107,012	(59,828)	(13,674)
Other assets and liabilities	(539)	(4,180)	(5,035)
Net cash flows provided by (used in) operating activities	111,253	(161,524)	354,686
Cash Flows from Investing Activities:
Purchases of property and equipment	(77,426)	(165,463)	(152,541)
Collection of notes receivable	844	2,985	13,211
Other investing activities, net	5,554	(1,302)	1,015
Net cash flows used in investing activities	(289,738)	(172,648)	(163,037)
Cash Flows from Financing Activities:
Net borrowings (repayments) under revolving credit facility	84,000	106,000	(525,000)
Repayments under term loan B	(5,000)	(5,000)	(105,000)
Issuance of senior notes	600,000		702,500
Redemption of senior notes	(400,000)		(350,000)
Deferred financing costs paid	(10,628)	(2,214)	(27,666)
Issuance of common stock			282,908
Redemption of noncontrolling interest in Operating Partnership	(2,438)
Payment of dividends	(502)	(102,331)	(183,346)
Distribution from consolidated joint venture to noncontrolling interest partners		(992)	(113,894)
Payment of tax withholdings for share-based compensation	(3,485)	(1,688)	(3,989)
Other financing activities, net	(216)	(245)	(243)
Net cash flows provided by (used in) financing activities	261,731	(6,470)	79,658
Net change in cash, cash equivalents, and restricted cash	83,246	(340,642)	271,307
Cash, cash equivalents, and restricted cash, beginning of period	79,754	420,396	149,089
Cash, cash equivalents, and restricted cash, end of period	163,000	79,754	420,396
Block 21 [Member]
Cash Flows from Investing Activities:
Earnest money deposit for potential Block 21 acquisition			(15,000)
$300 Million Term Loan A [Member]
Cash Flows from Financing Activities:
Borrowing under Gaylord Rockies term loan			100,000
Gaylord Rockies [Member]
Cash Flows from Investing Activities:
Purchase of land adjacent to Gaylord Rockies	(22,000)
Purchase of additional interest in Gaylord Rockies joint venture, net of cash acquired	(188,000)		(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)
Other Joint Ventures [Member]
Cash Flows from Investing Activities:
Investment in other joint ventures	$ (8,710)	$ (8,868)	$ (4,241)

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of cash, cash equivalents, and restricted cash to balance sheet:
Cash and cash equivalents - unrestricted	$ 140,688	$ 56,697	$ 362,430
Cash and cash equivalents - restricted	22,312	23,057	57,966
Cash, cash equivalents, and restricted cash, end of period	$ 163,000	$ 79,754	$ 420,396	$ 149,089

Consolidated Statements of Equity (Deficit) And Noncontrolling Interest - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	AOCI Attributable to Parent [Member]	Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Parent [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interest In Joint Venture [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Transition adjustment related to adoption	$ 513	$ 900,795	$ (15,183)		$ (388,524)		$ (28,024)		$ 469,577		$ 287,433		$ 469,577
Beginning balance at Dec. 31, 2018	$ 513	900,795	(15,183)		(388,524)		(28,024)		469,577		287,433		469,577
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)					145,794				145,794				145,794
Net loss													145,794
Net loss													(17,500)
Net loss											17,500
Adjustment of noncontrolling interest to redemption value					(68,054)				(68,054)		68,054		(68,054)
Other comprehensive income (loss), net of income taxes							2,572		2,572				2,572
Distribution from consolidated joint venture											(113,894)
Issuance of Company's common stock		282,873							282,908				$ 282,908
Issuance of Company's common stock (in shares)	35												3,500
Payment of dividends		532	(2,132)		(187,437)				(189,037)				$ (189,037)
Exercise of stock options		35							35				35
Purchase of remaining interest in consolidated joint venture		2,899							2,899		2,582		2,899
Restricted stock units and stock options surrendered	$ 1	(4,001)							(4,000)				(4,000)
Stock-based compensation expense		7,833							7,833				7,833
Ending balance at Dec. 31, 2019	549	1,185,168	(17,315)	$ 2,707	(495,514)	$ (2,707)	(28,159)		644,729		221,511		644,729
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Transition adjustment related to adoption	549	1,185,168	(17,315)	2,707	(495,514)	(2,707)	(28,159)		644,729		221,511		644,729
Net income (loss)					(417,391)				(417,391)	$ (956)			(417,391)
Net loss													(418,347)
Net loss													(42,474)
Net loss													(956)
Net loss											42,474
Adjustment of noncontrolling interest to redemption value					60,106				60,106		(60,106)		60,106
Other comprehensive income (loss), net of income taxes							(31,950)		(31,950)				(31,950)
Issuance of partnership units in Operating Partnership										15,472			15,472
Distribution from consolidated joint venture											(992)
Payment of dividends		135	(1,152)		(51,450)				(52,467)				(52,467)
Purchase of remaining interest in consolidated joint venture					1,500				1,500		16,970		1,500
Restricted stock units and stock options surrendered	1	(1,774)							(1,773)				(1,773)
Stock-based compensation expense		8,732							8,732				8,732
Ending balance at Dec. 31, 2020	550	1,192,261	(18,467)	(5,343)	(911,092)	2,158	(57,951)	$ (3,185)	205,301	14,516	100,969	$ (3,185)	219,817
Ending balance at Dec. 31, 2020													100,969
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Transition adjustment related to adoption	550	1,192,261	(18,467)	$ (5,343)	(911,092)	$ 2,158	(57,951)	$ (3,185)	205,301	14,516	100,969	$ (3,185)	219,817
Net income (loss)					(176,966)				(176,966)				(176,966)
Net loss													(178,300)
Net loss													(16,501)
Net loss										(1,334)			(1,334)
Net loss											(16,501)
Other comprehensive income (loss), net of income taxes							28,871		28,871				28,871
Purchase of remaining interest in consolidated joint venture		99,107							99,107		88,893		99,107
Redemption of noncontrolling interest in Operating Partnership		1,356							1,356	1,082			2,438
Reallocation of noncontrolling interest in Operating Partnership		12,259							12,259	(12,259)
Contribution to consolidated joint venture											$ 4,425
Restricted stock units and stock options surrendered	1	(3,294)			(47)				(3,340)				(3,340)
Stock-based compensation expense		12,104							12,104				12,104
Ending balance at Dec. 31, 2021	551	1,112,867	(18,467)		(1,088,105)		(29,080)		(22,234)	(159)			(22,393)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Transition adjustment related to adoption	$ 551	$ 1,112,867	$ (18,467)		$ (1,088,105)		$ (29,080)		$ (22,234)	$ (159)			$ (22,393)

Consolidated Statements of Equity (Deficit) And Noncontrolling Interest (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity (Deficit) And Noncontrolling Interest [Abstract]
Dividend amount for current period (in dollars per share)	$ 0.95	$ 3.60

Description of the Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Description of the Business and Summary of Significant Accounting Policies

Description of the Business and Summary of Significant Accounting Policies

1. Description of the Business and Summary of Significant Accounting Policies

For financial statement presentation and reporting purposes, the Company is the successor to Gaylord Entertainment Company, a Delaware corporation (“Gaylord”). As part of the plan to restructure the business operations of Gaylord to facilitate its qualification as a real estate investment trust (“REIT”) for federal income tax purposes, Gaylord merged with and into its wholly-owned subsidiary, Ryman Hospitality Properties, Inc., a Delaware corporation (“Ryman”), on October 1, 2012, with Ryman as the surviving corporation (the “Merger”). At 12:01 a.m. on October 1, 2012, the effective time of the Merger, Ryman succeeded to and began conducting, directly or indirectly, all of the business conducted by Gaylord immediately prior to the Merger. The “Company” refers to Ryman and its subsidiaries and to Gaylord.

On January 1, 2013, the Company began operating as a 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 five 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”), the Gaylord National Resort & Convention Center near Washington D.C. (“Gaylord National”), and the Gaylord Rockies Resort & Convention Center near Denver, Colorado (“Gaylord Rockies”), which prior to May 2021 was owned by a joint venture (the “Gaylord Rockies joint venture”) in which the Company owned a 65% interest. 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.

In April 2021, the Company entered into an agreement with RIDA Development Corporation to acquire the remaining 35% ownership interest in the Gaylord Rockies joint venture not previously owned by the Company for $188.0 million and approximately 130 acres of undeveloped, adjacent land for $22.0 million in cash (the “JV Purchase”). The JV Purchase closed in May 2021 and was funded through cash on hand and borrowings under the Company’s $700 million revolving credit facility. As discussed below, the Company consolidated the Gaylord Rockies joint venture both before and after the purchase in the accompanying consolidated financial statements.

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 located in downtown Nashville; WSM-AM, the Opry’s radio home; Ole Red, a brand of Blake Shelton-themed bar, music venue and event spaces; and three Nashville-based assets managed by Marriott – Gaylord Springs Golf Links (“Gaylord Springs”), the Wildhorse Saloon, and the General Jackson Showboat (“General Jackson”). The Company also owns a 50% interest in a joint venture that creates and distributes a linear multicast and over-the-top channel dedicated to the country music lifestyle (“Circle”), which launched its broadcast network on January 1, 2020. See Note 11, “Commitments and Contingencies,” for further disclosure.

The Company conducts its business through an umbrella partnership REIT, in which all of its assets are held by, and all of its operations are conducted through, RHP Hotel Properties, LP, a subsidiary operating partnership (the “Operating Partnership”) that the Company formed in connection with its REIT conversion. Ryman and the non-controlling operating partnership unit holders discussed in Note 9, “Equity” are the sole limited partners of the Operating Partnership, and Ryman currently owns, either directly or indirectly, 99.3% of the partnership units of the Operating Partnership. RHP Finance Corporation, a Delaware corporation (“Finco”), was formed as a wholly-owned subsidiary of the Operating Partnership for the sole purpose of being an issuer of debt securities with the Operating Partnership. Neither Ryman nor Finco has any material assets, other than Ryman’s investment in the Operating Partnership and its 100%-owned subsidiaries. As 100%-owned subsidiaries of Ryman, neither the Operating Partnership nor Finco has any business, operations, financial results or other material information, other than the business, operations, financial results

and other material information described in this Annual Report on Form 10-K and Ryman’s other reports, documents or other information filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

The Company principally operates, through its subsidiaries and its property managers, as applicable, in the following business segments: Hospitality; Entertainment; and Corporate and Other. The Company’s fiscal year ends on December 31 for all periods presented.

Business Segments

Hospitality

The Hospitality segment includes the Gaylord Hotels branded hotels, the Inn at Opryland and the AC Hotel. Each of the Company’s Gaylord Hotels properties is managed by Marriott pursuant to a management agreement for each hotel.

Entertainment

The Entertainment segment includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the General Jackson, the Wildhorse Saloon, Gaylord Springs, and the Company’s investment in the Circle joint venture, among various others. Marriott manages the day-to-day operations of the General Jackson, Gaylord Springs and the Wildhorse Saloon pursuant to management agreements.

Corporate and Other

The Corporate and Other segment includes operating and general and administrative expenses related to the overall management of the Company which are not allocated to the other reportable segments, including certain costs for the Company’s retirement plans, equity-based compensation plans, information technology, human resources, accounting, and other administrative expenses.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s investments in non-controlled entities in which it has the ability to exercise significant influence over operating and financial policies are accounted for by the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation.

The Company analyzes its variable interests, including loans, guarantees, management agreements, leasing arrangements and equity investments, to determine if an entity in which it has a variable interest is a variable interest entity (“VIE”). This analysis primarily includes a qualitative review, which is based on a review of the design of the entity, its organizational structure, including decision-making ability, and relevant financial agreements. This analysis is also used to determine if the Company must consolidate the VIE as the primary beneficiary.

The terms of the Company’s previous investment in the Gaylord Rockies joint venture and certain related agreements provided that a subsidiary of the Company was the managing member and was responsible for day-to-day management of the joint venture and for future financings meeting certain parameters. Designated decisions, such as refinancings that do not meet established parameters, future expansions of the hotel, transactions with affiliates, selling the hotel, and admitting additional members of the joint venture, were to be approved by a majority vote of a committee consisting of two members designated by the Company and two members designated by the minority partner. Based on management’s analysis of these updated agreements, management concluded the Company’s responsibility for the day-to-day management of the joint venture and for future financings meeting certain parameters resulted in the Company having the power to direct the activities that most significantly impact the economic performance of the joint venture. In addition, the shared decisions represented protective rights of both parties. Thus, the Company became the primary beneficiary of this variable interest entity at December 31, 2018. As such, the Company consolidated the assets and liabilities of the joint venture effective December 31, 2018 and began consolidating the ongoing operations of the joint

venture effective January 1, 2019. As Gaylord Rockies is now wholly-owned by the Company, it is no longer considered as a VIE. See “Noncontrolling Interest” below for further discussion.

The terms of the Company's joint venture agreement in Circle provide that the Company and its joint venture partner each share the authority to make major decisions in the joint venture, including operating plans, entering into certain contracts, admitting additional members of the joint venture, issuing additional membership interests, and amending the operating agreement. In addition, the officers of Circle are not employees of the Company. Based on management’s analysis of the joint venture agreement, management concluded that the Company is not the primary beneficiary of this variable interest entity and accounts for this investment under the equity method.

Impact of COVID-19 Pandemic

The COVID-19 pandemic has been and continues to be a complex and evolving situation, causing unprecedented levels of disruption to the Company’s business. Although the Company’s assets are currently open and operating without capacity restrictions, there remains significant uncertainty surrounding the full extent of the impact of the COVID-19 pandemic on the Company’s future results of operations and financial position.

The Company, in consultation with local governmental authorities, first determined to close its Nashville-based entertainment venues in mid-March 2020. As cancellations at the Gaylord Hotels properties began to increase, the Company and its hotel manager, Marriott, implemented a series of operational changes, culminating with the suspension of operations at the Gaylord Hotels properties in late March 2020. Gaylord Texan reopened June 8, 2020, Gaylord Opryland, Gaylord Palms and Gaylord Rockies reopened June 25, 2020, and Gaylord National reopened July 1, 2021.

In the Company’s Entertainment segment, in addition to the temporary closure of its entertainment assets, the Company took steps to reduce operating costs in all areas. Many of the Company’s attractions reopened at reduced capacities in May and June 2020. The Grand Ole Opry and Ryman Auditorium began offering limited-capacity tours in June 2020, in September 2020, they reopened for limited-capacity publicly attended performances, and in May 2021, they reopened for full-capacity publicly attended performances. After the April 2021 reopening of the Wildhorse Saloon, which was closed through March 2021 subsequent to the December 2020 downtown Nashville bombing, all of the Company’s entertainment assets are open.

The Company amended its credit facility on April 23, 2020, and again on December 22, 2020. As described more fully in Note 4, “Debt”, the amendments provide temporary waivers of covenants within the facility, among other temporary changes. The Company continues to pay all required debt service payments on its indebtedness, lease payments, taxes and other payables. In October 2021, the Company further amended its credit facility to allow the Company to complete an acquisition during the credit agreement’s restricted period, as further described in Note 4, “Debt.”

At December 31, 2021, the Company had $509.8 million available for borrowing under its revolving credit facility and $140.7 million in unrestricted cash on hand. The Company’s quarterly dividend is currently suspended. The Company’s board of directors will consider a future dividend as permitted by the Company’s credit agreement. The Company’s credit agreement amendments described in Note 4, “Debt,” permits payment of dividends as necessary to maintain the Company’s REIT status and permits the Company to pay a dividend of $0.01 per share each quarter. Any future dividend is subject to the Company’s board of director’s determinations as to the amount of distributions and timing thereof.

With the exception of the Gaylord Palms expansion project and the renovation of the guest rooms at Gaylord National, the Company deferred most non-essential capital projects, in addition to delaying the Gaylord Rockies expansion project, which was scheduled to begin construction in second quarter 2020. The Gaylord Palms expansion project was completed in April 2021, and the Gaylord National rooms renovation was completed in June 2021.

Potential Block 21 Acquisition; Termination of Previous Block 21 Acquisition Agreement

In October 2021, the Company entered into an agreement to purchase Block 21, a mixed-use entertainment, lodging, office, and retail complex located in Austin, Texas, for $260 million, which includes the assumption of approximately $135 million of existing mortgage debt. In addition, the Company will receive approximately $11 million of existing

cash reserves attributable to the assets. Block 21 is the home of the Austin City Limits Live at The Moody Theater (“ACL Live”), a 2,750-seat entertainment venue that serves as the filming location for the Austin City Limits television series. The Block 21 complex also includes the 251-room W Austin Hotel, the 3TEN at ACL Live club and approximately 53,000 square feet of other Class A commercial space. The acquisition is expected to close in first quarter 2022, subject to customary closing conditions including, but not limited to, consent to the Company’s assumption of the existing mortgage loan by the loan servicer and the consent of the hotel property manager, an affiliate of Marriott, to the Company’s assignment and assumption of the existing hotel management agreement. The Company has the capacity to finance the transaction under its revolving credit facility and may use cash on hand, including from any sales of stock under its ATM program, and will make a determination of funding sources prior to closing.

In December 2019, the Company entered into a previous agreement to purchase Block 21. In May 2020, in response to the then-existing capital markets and economic environment caused by the COVID-19 pandemic, the Company determined it was not in the best interest of shareholders to focus resources and capital on the project and terminated the related purchase agreement. The Company forfeited a nonrefundable December 2019 deposit of $15 million and recorded a loss, which is included in other gains and (losses), net in the accompanying consolidated statement of operations for 2020.

Property and Equipment

Property and equipment are stated at cost or at estimated fair value if recorded in connection with purchase accounting. Improvements and significant renovations that extend the lives of existing assets are capitalized. Interest on funds borrowed to finance the construction of major capital additions not funded through furniture, fixtures and equipment reserves is included in the cost of the applicable capital addition. Maintenance and repairs are charged to expense as incurred. Property and equipment are generally depreciated using the straight-line method over the following estimated useful lives:


Buildings		40 years
Land improvements		20 years
Furniture, fixtures and equipment		5-8 years
Leasehold improvements		The shorter of the lease term or useful life

Cash and Cash Equivalents — Unrestricted

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Cash and Cash Equivalents — Restricted

Restricted cash and cash equivalents primarily represent funds held by our property manager for furniture, fixtures and equipment reserves. In addition, the Company holds certificates of deposit with an original maturity of greater than three months in order to secure its Tennessee workers’ compensation self-insurance obligations. Beginning in July 2020, Gaylord Rockies was in a cash sweep period pursuant to the Gaylord Rockies term loan agreement, and such cash amounts are also included in restricted cash.

Supplemental Cash Flow Information

Cash paid for interest, net of amounts from interest rate swaps, for the years ended December 31 was comprised of (amounts in thousands):


	2021		2020		2019
Debt interest paid	$	113,669	$	113,743	$	121,876
Capitalized interest		(2,922)		(3,753)		(1,618)
Cash paid for interest, net of capitalized interest	$	110,747	$	109,990	$	120,258

Net cash payments of income taxes in 2021, 2020 and 2019 were $0.5 million, $1.7 million and $3.6 million, respectively.

Accounts Receivable

The Company’s accounts receivable are primarily generated by meetings and convention attendees’ room nights and food and beverage. Receivables arising from these sales are not collateralized. Credit risk associated with the accounts receivable is minimized due to the large and diverse nature of the customer base.

Credit Loss Reserves on Accounts Receivable

The Company provides credit loss reserves based upon a percentage of accounts receivable that considers historical write-offs, current economic conditions, and management’s expectations about future economic conditions, as well as periodic evaluations of the aging of accounts receivable.

Prepaid Expenses and Other Assets

Prepaid expenses and other assets at December 31 consist of (amounts in thousands):


	2021		2020
Prepaid expenses	$	24,359	$	19,447
Supplemental deferred compensation plan assets		31,183		31,277
Tax rebate receivables		21,456		27,096
Inventories		8,369		7,157
Other		27,537		15,517
Total prepaid expenses and other assets	$	112,904	$	100,494

Prepaid expenses consist of prepayments for property taxes, insurance and other contracts that will be expensed during the subsequent year. Inventories consist primarily of food and beverage inventory for resale and retail inventory sold in the Entertainment segment. Inventory is carried at the lower of cost or net realizable value. Cost is computed on an average cost basis. Other assets include capitalized software costs, non-trade receivables, and investments in joint ventures, among others.

Gaylord Rockies is party to an incentive agreement with the local government that provides that Gaylord Rockies is entitled to receive monthly rebates of certain city and state taxes, including property, sales and lodging taxes. The term of the rebate agreement varies by type of tax but ranges from 25-33 years from commencement of the construction of Gaylord Rockies. Gaylord Rockies earned $29.1 million, $41.4 million and $34.6 million in rebates in 2021, 2020 and 2019, respectively, which are generally recorded as a reduction in other hotel expenses in the accompanying consolidated statements of operations for 2021, 2020 and 2019.

Intangible Assets

In connection with the Company’s purchase price allocation of the Gaylord Rockies joint venture, the Company acquired certain definite-lived intangibles, which are shown on the accompanying consolidated balance sheets. Included in these intangibles are the original estimated fair value of advanced bookings of $125.5 million and the original estimated fair value related to the Gaylord Hotels trade name, which Marriott owns, of $115.3 million. The advanced bookings asset is being amortized on a straight-line basis over a period of 3.5 years, which corresponds with the period in which the advanced bookings relate, and the value in the trade name is being amortized on a straight-line basis over 30 years, which is the period of the Marriott management agreement.

The gross carrying amount of intangible assets at December 31, 2021 and 2020 was $252.8 million. Accumulated amortization of intangible assets at December 31, 2021 and 2020 was $126.0 million and $85.8 million, respectively.

Amortization expense related to intangible assets during each of 2021, 2020 and 2019 was $40.2 million. The estimated amounts of amortization expense for the next five years are as follows (amounts in thousands):


2022	$	22,240
2023		4,282
2024		4,044
2025		4,038
2026		4,038
	$	38,642

Investments

From time to time, the Company has owned minority interest investments in certain businesses. Investments in entities that the Company does not control but in which it exercises significant influence are accounted for using the equity method of accounting.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities at December 31 consist of (amounts in thousands):


	2021		2020
Trade accounts payable	$	31,725	$	23,125
Property and other taxes payable		54,991		51,821
Deferred revenues		116,820		70,441
Accrued salaries and benefits		42,472		20,598
Accrued interest payable		20,313		14,263
Other accrued liabilities		38,398		22,873
Total accounts payable and accrued liabilities	$	304,719	$	203,121

Deferred revenues consist primarily of deposits on advance bookings of hotel rooms and advance ticket sales at the Company’s entertainment properties, as well as uncollected attrition and cancellation fees. Other accrued liabilities include accruals for, among others, purchasing, meeting planner commissions and utilities.

Income Taxes

The Company establishes deferred tax assets and liabilities based on the difference between the financial statement and income tax carrying amounts of assets and liabilities using existing tax laws and tax rates. The Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return, if any. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. See Note 10, “Income Taxes,” for more detail on the Company’s income taxes.

The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company has considered all available positive and negative evidence in assessing the need for a valuation allowance.

Deferred Management Rights Proceeds

The Company has deferred and amortizes the proceeds received from Marriott that were allocated to the sale of the management rights, as discussed further in Note 5, “Deferred Management Rights Proceeds,” on a straight-line basis over the term of the hotel management agreements, including extensions, as a reduction in management fee expense in the accompanying consolidated statements of operations.

Other Liabilities

Other liabilities at December 31 consist of (amounts in thousands):


	2021		2020
Pension and postretirement benefits liability	$	20,061	$	32,686
Deferred compensation liability		31,183		31,277
Derivative liabilities		9,362		27,819
Other		11,333		997
Total other liabilities	$	71,939	$	92,779

Deferred Financing Costs

Deferred financing costs (“DFCs”) consist of loan fees and other costs of financing that are amortized over the term of the related financing agreements, using the effective interest method, and are generally presented as a reduction of the related debt liability. DFCs on the Company’s revolving credit facility are included in prepaid expenses and other assets when the related revolving credit facility has no outstanding balance. During 2021, 2020 and 2019, DFCs of $8.8 million, $7.9 million and $7.7 million, respectively, were amortized and recorded as interest expense in the accompanying consolidated statements of operations.

Noncontrolling Interest

The noncontrolling interest in consolidated joint venture represents the previous minority partners’ proportionate share of the assets and liabilities of the Gaylord Rockies joint venture. The noncontrolling interest was classified in the mezzanine section of the consolidated balance sheets as the related redemption options did not meet the requirements for permanent equity classification because these redemption options may have been redeemed by the holder as described below.

The initial value of the noncontrolling interest in the Gaylord Rockies joint venture, which included certain put rights, was estimated based on the purchase price allocation performed. In general, the carrying value was based on the greater of the accumulated historical cost or the put right redemption value, and at December 31, 2020, approximated the fair value of the noncontrolling interest. An adjustment was also made for the minority partners’ proportionate share of income or loss in the accompanying consolidated statement of operations.

Pursuant to the amended and restated joint venture agreements, minority partners each had 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, in consideration of cash or OP Units of the Operating Partnership. During 2020, put right holders totaling 0.5% ownership in the Gaylord Rockies joint venture exercised their put rights for $2.9 million in cash, and the remaining put right holders, totaling 2.4% ownership in the Gaylord Rockies joint venture, exercised their put rights for approximately $14.0 million in OP Units, which was equivalent to approximately 0.4 million OP Units. Such OP Units have economic terms that are substantially similar to shares of the Company’s common stock and are redeemable at the option of the holders thereof. Redemptions will be paid in cash, or if the Company so elects, in shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments in accordance with the Operating Partnership’s limited partnership agreement.

The Company also entered into a tax protection agreement in connection with the December 31, 2018 purchase of additional interests in the Gaylord Rockies joint venture, which will generally require the Company to, among other things, indemnify certain minority partners that were members of the Gaylord Rockies joint venture for 50% of any income taxes incurred by them as a result of a direct or indirect sale or other disposition of the Gaylord Rockies joint venture, within seven years of closing, and for 100% of any income taxes incurred by them as a result of the failure to comply with certain obligations related to nonrecourse liability allocations and debt guarantee opportunities for the purpose of protecting such parties’ tax bases.

The noncontrolling interest in the Operating Partnership represents the limited partners’ proportionate share of the equity of the Operating Partnership. The noncontrolling interest is classified in the equity section of the consolidated balance sheets, separately from stockholders’ equity, as the related redemptions options are redeemable for cash, or if the Company so elects, in unregistered shares of the Company’s common stock, as discussed further in Note 9, “Equity.” An adjustment is made for the limited partners’ proportionate share of income or loss in the accompanying consolidated statement of operations.

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. Entertainment segment revenues from licenses of content are recognized at the point in time the content is delivered to the licensee and the licensee can use and benefit from the content. Revenue related to content provided to Circle is eliminated for the portion of Circle that the Company owns. 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 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):


	2021		2020		2019
Hotel group rooms	$	131,404	$	88,606	$	387,741
Hotel transient rooms		197,470		83,112		169,821
Hotel food and beverage - banquets		140,186		116,624		453,612
Hotel food and beverage - outlets		139,303		70,914		207,158
Hotel other		178,220		106,789		203,114
Entertainment admissions/ticketing		62,768		16,564		81,434
Entertainment food and beverage		51,515		21,506		63,815
Entertainment produced content		5,919		4,708		3,759
Entertainment retail and other		32,588		15,652		34,112
Total revenues	$	939,373	$	524,475	$	1,604,566

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


	2021		2020		2019
Gaylord Opryland	$	238,567	$	133,333	$	385,610
Gaylord Palms		139,130		77,819		208,298
Gaylord Texan		180,031		111,236		292,548
Gaylord National		79,419		52,026		281,367
Gaylord Rockies		135,942		84,715		226,576
AC Hotel		5,838		3,332		11,725
Inn at Opryland		7,656		3,584		15,322
Total Hospitality segment revenues	$	786,583	$	466,045	$	1,421,446

The majority of the Company’s Entertainment segment revenues are concentrated in 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 December 31, 2021 and 2020, the Company had $116.8 million and $70.4 million, respectively, in deferred revenues, which are included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets. Of the amount outstanding at December 31, 2020, approximately $17.3 million was recognized in revenues during 2021.

Management Fees

The Company pays Marriott a base management fee of approximately 2% of revenues for the majority of properties that Marriott manages and a base management fee of approximately 3% of revenues for Gaylord Rockies, as well as an incentive fee for each managed property that is based on profitability. The Company incurred $17.6 million, $10.3 million and $31.6 million in base management fees to Marriott during 2021, 2020 and 2019, respectively. The Company incurred $0.3 million, $0 and $12.6 million in incentive fees to Marriott during 2021, 2020 and 2019, respectively. Management fees are presented in the consolidated statements of operations net of the amortization of the deferred management rights proceeds discussed further in Note 5, “Deferred Management Rights Proceeds.”

Advertising Costs

Advertising costs are expensed as incurred and were $36.2 million, $23.0 million, and $53.2 million for 2021, 2020 and 2019, respectively.

Stock-Based Compensation

The Company has stock-based employee compensation plans, which are described more fully in Note 7, “Stock Plans.” The Company accounts for its stock-based compensation plan under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, “Compensation – Stock Compensation.”

Preopening Costs

The Company expenses the costs associated with start-up activities and organization costs associated with its development or reopening of hotels and significant attractions as incurred. The Company’s preopening costs during 2021 include costs associated with the Gaylord Palms expansion, which was completed in April 2021. The Company’s preopening costs during 2020 include costs associated with Ole Red Orlando, which opened in June 2020, and the Gaylord Palms expansion. The Company’s preopening costs during 2019 include costs associated with Ole Red Gatlinburg, which opened in March 2019, costs associated with the opening of Gaylord Rockies, which opened on a fully operational basis in the first quarter of 2019, and costs associated with the expansion at Gaylord Palms.

Derivative Financial Instruments

The Company has entered into and may in the future enter into additional interest rate swap agreements to hedge against interest rate fluctuations. The Company does not use derivatives for trading or speculative purposes and currently does 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 resulting from recording each instrument at estimated fair value 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 $9.1 million will be reclassified from accumulated other comprehensive loss to interest expense in the next twelve months.

Impairment of Long-Lived and Other Assets

In accounting for the Company’s long-lived and other assets (including its property and equipment and intangible assets), the Company assesses its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets or asset group may not be recoverable.

Recoverability of property and equipment and definite-lived intangible assets that will continue to be used is measured by comparing the carrying amount of the asset or asset group to the related total future undiscounted net cash flows. If an asset or asset group’s carrying value is not recoverable through those cash flows, the asset group is considered to be impaired. The impairment is measured by the difference between the assets’ carrying amount and their fair value, which is estimated using discounted cash flow analyses that utilize comprehensive cash flow projections, as well as observable market data to the extent available.

The Company recorded no impairment losses during 2021, 2020 or 2019.

Income (Loss) Per Share

Income (loss) per share is measured as basic earnings per share and diluted earnings per share. Basic earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding after considering the effect of conversion of dilutive instruments, calculated using the treasury stock method or if-converted method, as applicable. Net income (loss) per share amounts are calculated as follows for the years ended December 31 (income and share amounts in thousands):


	2021
	Loss		Shares	Per Share
Net loss available to common stockholders	$	(176,966)	55,047	$	(3.21)
Effect of dilutive stock-based compensation		—	—		—
Net loss available to common stockholders — assuming dilution	$	(176,966)	55,047	$	(3.21)


	2020
	Loss		Shares	Per Share
Net loss available to common stockholders	$	(417,391)	54,962	$	(7.59)
Effect of dilutive stock-based compensation		—	—		—
Net loss available to common stockholders — assuming dilution	$	(417,391)	54,962	$	(7.59)


	2019
	Income		Shares	Per Share
Net income available to common stockholders	$	145,794	51,609	$	2.82
Effect of dilutive stock-based compensation		—	169		—
Effect of dilutive put rights		—	197		—
Net income available to common stockholders — assuming dilution	$	145,794	51,975	$	2.81

For 2021 and 2020, the effect of dilutive stock-based compensation was the equivalent of 0.2 million and 0.1 million shares of common stock outstanding, respectively. Because the Company had a loss available to common stockholders in 2021 and 2020, these incremental shares were excluded from the computation of dilutive earnings per share as the effect of their inclusion would have been anti-dilutive.

As discussed above, certain minority partners in the Gaylord Rockies joint venture each had a put right to require the Company to purchase their joint venture interests in the Gaylord Rockies joint venture in consideration of cash or OP Units of the Operating Partnership. These put rights were exercised in 2020. The OP Units held by the noncontrolling

interest holders have been excluded from the denominator of the diluted loss per share calculation for 2021 and 2020 as there would be no effect on the calculation of diluted earnings per share because the loss attributable to the OP Units held by the noncontrolling interest holders would also be subtracted to derive net loss available to common shareholders.

Accounting Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.

Newly Issued Accounting Standards

In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments,” which changes 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 replaces 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 are required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowances for losses. The Company has applied these amendments with a modified-retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of 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 Company adopted this ASU in the first quarter of 2020 and recorded an adjustment to beginning retained earnings of $5.3 million and an adjustment to accumulated other comprehensive loss of $2.2 million. See Note 3, “Notes Receivable,” for additional disclosure.

In December 2019, the FASB issued ASU No. 2019-12, “Simplifying the Accounting for Income Taxes (Topic 740),” which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this ASU in the first quarter of 2021, and this adoption did not have a material impact on the Company’s condensed consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). The guidance in ASU 2020-04 is optional, effective immediately, and may be elected over time as reference rate reform activities occur generally through December 31, 2022. During 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of this guidance and may apply other elections as applicable as additional market changes occur.

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property and Equipment

Property and Equipment

2. Property and Equipment

Property and equipment at December 31 is recorded at cost, with the exception of right-of-use finance leases and assets acquired in an acquisition, and summarized as follows (amounts in thousands):


	2021		2020
Land and land improvements	$	378,598	$	351,618
Buildings		3,601,974		3,462,218
Furniture, fixtures and equipment		981,589		960,666
Right-of-use finance lease assets		1,613		1,613
Construction-in-progress		14,337		166,084
		4,978,111		4,942,199
Accumulated depreciation and amortization		(1,946,267)		(1,824,952)
Property and equipment, net	$	3,031,844	$	3,117,247

Depreciation expense, including amortization of assets under finance lease obligations, during 2021, 2020 and 2019 was $178.8 million, $173.3 million, and $172.2 million, respectively.

In June 2017, the Company entered into an agreement with the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County (the “Board”) to implement a tax abatement plan related to Gaylord Opryland. The tax abatement plan provides for the capping of real property taxes for a period of eight years by legally transferring title to the Gaylord Opryland real property to the Board. The Board financed the acquisition of the Gaylord Opryland real property by issuing a $650 million industrial revenue bond to the Company. The Board then leased this property back to the Company. The Company is obligated to make lease payments equal to the debt service on the industrial revenue bond. No cash was exchanged, and no cash will be exchanged in connection with the Company’s lease payments under the lease. The tax abatement period extends through the term of the lease, which coincides with the nine-year maturity of the bond. At any time, the Company has the option to repurchase the real property at a de minimis amount. Due to the form of these transactions, the Company has not recorded the bond or the lease obligation associated with the sale lease-back transaction, and the cost of the Gaylord Opryland real property remains recorded on the balance sheet and is being depreciated over its estimated useful life.

Notes Receivable

12 Months Ended

Dec. 31, 2021

Notes Receivable

Notes Receivable

3. Notes Receivable

In connection with the development of Gaylord National, Prince George’s County, Maryland (“the County”) issued a bond with a face value of $95 million (“Series A Bond”) and an additional bond with a face value of $50 million (“Series B Bond”), which were delivered to the Company upon substantial completion and opening of Gaylord National in 2008. The interest rate on the Series A Bond and Series B Bond is 8.0% and 10.0%, respectively. The maturity date of the Series A Bond and the Series B Bond is July 1, 2034 and September 1, 2037, respectively.

Upon receipt in 2008, the Company calculated the present value of the future debt service payments from the Series A Bond and Series B Bond based on their effective interest rates of 8.04% and 11.42%, respectively, and recorded the notes receivable at their discounted values of $93.8 million and $38.3 million, respectively. The Company records the amortization of discount on these notes receivable as interest income over the terms of the notes. The Company is currently holding the bonds, which have aggregate carrying values and approximate fair values of $71.2 million and $71.9 million at December 31, 2021 and 2020, respectively, net of a credit loss reserve of $38.0 million at each period. The Company is receiving the debt service on the notes receivable, which are payable from tax increments, hotel taxes and special hotel rental taxes generated from the development through the maturity date. The Company’s estimate of credit loss reserves is sensitive to the significant assumptions, which include the projections of hotel taxes (which are based on expected hotel revenues) and property taxes, both of which are affected by expectations about future market and economic conditions, particularly those in the Washington D.C. market. These assumptions are based on Level 3 inputs. Further, such assumptions are judgmental as the bonds and related projected cash flows continue for an extended period of time through 2037 and include uncertainty of the impact of the COVID-19 pandemic.

The Company has the intent and ability to hold the Series A Bond and Series B Bond to maturity and had at inception expected to receive all debt service payments due. As a result of reduced long-range tax revenue projections over the remaining life of the Series B Bond, in 2017, the Company no longer believed it would receive all debt service payments due under the note, and the Company considered the Series B Bond to be other-than-temporarily impaired (“OTTI”). The amount of the OTTI related to changing market conditions, or the increase in the discount rate, of $6.5 million was recorded as an increase to other comprehensive loss in 2017 and is amortized as an adjustment to the carrying value of the Series B Bond in the accompanying consolidated balance sheets. The discount rate was determined based on current market interest rates of notes receivable with comparable market ratings and current expectations about the timing of debt service payments under the note.

In the first quarter of 2020, in accordance with the adoption of ASU No. 2016-13, as discussed in Note 1, the Company recorded an initial transition adjustment of $5.2 million and has since performed its quarterly assessment of credit losses under the new standard, which considers the estimate of projected tax revenues that will service the bonds over its remaining term. These tax revenue projections were updated each quarter in connection with the Company’s preparation of its quarterly financial statements as a result of the closure of Gaylord National during the COVID-19 pandemic and to reflect updated industry projections as to future anticipated operations of the hotel. As a result of these reduced tax revenue projections over the remaining life of the bonds, the Company increased its credit loss reserve by $38.0 million in 2020, which includes the initial transition adjustment. At December 31, 2021 and 2020, the Series B Bond is fully reserved. The Series A Bond is of higher priority than other tranches which fall between the Company’s two issuances.

During 2021, 2020 and 2019, the Company recorded interest income of $5.5 million, $6.2 million and $10.2 million, respectively, on these bonds. The Company received payments of $6.4 million, $8.8 million and $11.3 million during 2021, 2020 and 2019, respectively, relating to these notes receivable, which includes principal and interest payments. At December 31, 2021 and 2020, before consideration of the credit loss reserve, the Company had accrued interest receivable related to these bonds of $41.0 million and $40.9 million, respectively.

Debt

12 Months Ended

Dec. 31, 2021

Debt

Debt

4. Debt

The Company’s debt and finance lease obligations at December 31 consisted of (amounts in thousands):


	2021		2020
$700M Revolving Credit Facility	$	190,000	$	106,000
$300M Term Loan A		300,000		300,000
$500M Term Loan B		376,250		381,250
$400M Senior Notes		—		400,000
$600M Senior Notes		600,000		—
$700M Senior Notes		700,000		700,000
$800M Gaylord Rockies Term Loan		800,000		800,000
Finance lease obligations		884		1,095
Unamortized deferred financing costs		(32,203)		(32,504)
Unamortized premium		1,888		2,167
Total debt	$	2,936,819	$	2,658,008

At December 31, 2021, there were no defaults under the covenants related to the Company’s outstanding debt based on the amended terms of the Company’s credit agreement.

Annual maturities of long-term debt, excluding finance lease obligations, are as follows (amounts in thousands):


											Years
	2022		2023		2024		2025		2026		Thereafter		Total
$700M Revolving Credit Facility	$	—	$	—	$	190,000	$	—	$	—	$	—	$	190,000
$300M Term Loan A		—		—		—		300,000		—		—		300,000
$500M Term Loan B		5,000		5,000		366,250		—		—		—		376,250
$600M 4.50% Senior Notes		—		—		—		—		—		600,000		600,000
$700M 4.75% Senior Notes		—		—		—		—		—		700,000		700,000
$800M Gaylord Rockies Term Loan		—		800,000		—		—		—		—		800,000
Total	$	5,000	$	805,000	$	556,250	$	300,000	$	—	$	1,300,000	$	2,966,250

Credit Facility

In October 2019, the Company entered into a Sixth Amended and Restated Credit Agreement (the “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 Company’s credit facility consists of a $700.0 million senior secured revolving credit facility (the “Revolver”), a $300.0 million senior secured term loan A (the “Term Loan A”), and a $500.0 million senior secured term loan B (the “Term Loan B”), each as discussed below. The Credit Agreement also includes an accordion feature of $600 million and a $50.0 million letter of credit sublimit. In 2020, the Company entered into two amendments (the “Amendments”) to the Credit Agreement among the same parties, as discussed below. Additionally, the Company further amended the Credit Agreement in October 2021 to permit an acquisition during the Credit Agreement’s restricted period (as defined below) using borrowings under the Revolver, so long as the aggregate amount outstanding under the Revolver is equal to or less than $400.0 million, and an associated assumption of indebtedness, subject to certain conditions.

Each of the Revolver, Term Loan A and Term Loan B is guaranteed by the Company, each of the Company’s subsidiaries that own the Gaylord Hotels properties, other than Gaylord Rockies, and certain other of the Company’s subsidiaries. Each is secured by (i) a first mortgage lien on the real property of each of the Gaylord Hotels properties, excluding Gaylord Rockies, (ii) pledges of equity interests in the Company’s subsidiaries that own the Gaylord Hotels properties, excluding Gaylord Rockies, (iii) pledges of equity interests in the Operating Partnership, the subsidiaries that guarantee the Credit Agreement, and certain other of the Company’s subsidiaries, (iv) the personal property of the Company, the Operating Partnership and the subsidiaries that guarantee the Credit Agreement and (v) all proceeds and products from the Company’s Gaylord Hotels properties, excluding Gaylord Rockies. Advances are subject to a 55% borrowing base, based on the appraisal value of the Gaylord Hotels properties (reduced to 50% in the event one of the Gaylord Hotels properties is sold), in each case, excluding Gaylord Rockies. Assets of Gaylord Rockies are not subject to the liens of the credit facility.

Each of the Revolver, Term Loan A and Term Loan B contains certain covenants which, among other things, limit the incurrence of additional indebtedness, investments, dividends, transactions with affiliates, asset sales, acquisitions, mergers and consolidations, liens and encumbrances and other matters customarily restricted in such agreements.

The Amendments provide for a waiver of the Credit Agreement’s financial covenants through March 31, 2022 (the “Temporary Waiver Period”). In addition, the Amendments contain a covenant that the Company must maintain unrestricted liquidity (in the form of unrestricted cash on hand or undrawn availability under the Revolver) of at least $100 million. In the event the Company is unable to comply with the Credit Agreement’s financial covenants following the Temporary Waiver Period, it expects to further amend the Credit Agreement or take other mitigating actions prior to a potential breach.

The Company may elect to terminate the Temporary Waiver Period prior to expiration. For the first quarter following expiration or termination of the Temporary Waiver Period, it will calculate compliance with the financial covenants in the Credit Agreement using a designated annualized calculation based on the Company’s most recently completed fiscal

quarter. Thereafter, the Company will be required to satisfy financial covenants at the levels set forth in the Credit Agreement using a designated annualized calculation based on the Company’s most recently completed fiscal quarters, as applicable. Pursuant to the Amendments, the Company is required to use any proceeds from borrowings drawn during the Temporary Waiver Period and until the Company can demonstrate financial covenant compliance following the expiration or earlier termination of the Temporary Waiver Period (the “Restricted Period”) to fund operating expenses, debt service of the Company and its subsidiaries, and permitted capital expenditures and investments.

If an event of default shall occur and be continuing under the Credit Agreement, the commitments under the Credit Agreement may be terminated and the principal amount outstanding under the Credit Agreement, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable.

$700 Million Revolving Credit Facility

Pursuant to the Credit Agreement, the Company extended the maturity of the Revolver to March 31, 2024. Borrowings under the Revolver bear interest at an annual rate equal to, at the Company’s option, either (i) LIBOR plus the applicable margin ranging from 1.40% to 1.95%, dependent upon the Company’s funded debt to total asset value ratio (as defined in the Credit Agreement) or (ii) a base rate as set in the Credit Agreement. Pursuant to the Amendments, beginning April 1, 2021 through the end of the Restricted Period, the interest rate on LIBOR-based borrowings under the Revolver will be LIBOR plus 2.25%.

$300 Million Term Loan A

Pursuant to the Credit Agreement, the Company extended the maturity of the Term Loan A to March 31, 2025. Borrowings under the Term Loan A bear interest at an annual rate equal to, at the Company’s option, either (i) LIBOR plus the applicable margin ranging from 1.35% to 1.90%, dependent upon the Company’s funded debt to total asset value ratio (as defined in the Credit Agreement) or (ii) a base rate as set in the Credit Agreement. Pursuant to the Amendments, beginning April 1, 2021 through the end of the Restricted Period, the interest rate on LIBOR-based borrowings under the Term Loan A will be LIBOR plus 2.25%. Amounts borrowed under the Term Loan A that are repaid or prepaid may not be reborrowed.

$500 Million Term Loan B

The Term Loan B has a maturity of May 11, 2024. The applicable interest rate margins for borrowings under the Term Loan B are, at the Company’s option, either (i) LIBOR plus 2.00% or (ii) a base rate as set in the Credit Agreement. At December 31, 2021, the interest rate on the Term Loan B was LIBOR plus 2.00%. In October 2019, the Company entered into four interest rate swaps with a total notional amount of $350.0 million to fix the LIBOR portion of the interest rate, at rates between 1.2235% and 1.2315%, through May 11, 2023. The Company has designated these swaps as effective cash flow hedges. The Term Loan B amortizes in equal quarterly installments in aggregate annual amounts equal to 1.0% of the original principal amount of $500.0 million, with the balance due at maturity. In addition, if for any fiscal year there is Excess Cash Flow (as defined in the Credit Agreement), payment of an additional principal payment is required. Amounts borrowed under the Term Loan B that are repaid or prepaid may not be reborrowed.

Tender for and Redemption of $350 Million 5% Senior Notes

In 2013, the Operating Partnership and Finco completed the private placement of $350.0 million in aggregate principal amount of senior notes due 2021 (the “$350 Million 5% Senior Notes”).

In September 2019, the Company tendered and redeemed any and all outstanding $350 Million 5% Senior Notes, using a portion of the proceeds from the issuance of the $700 million 4.75% senior notes discussed below. As a result of the Company’s purchase of tendered $350 Million 5% Senior Notes and the redemption of all untendered $350 Million 5% Senior Notes, the Company recognized a loss on extinguishment of debt of $0.5 million in 2019 and wrote off $1.7 million of unamortized DFCs, which are recorded as interest expense in the accompanying consolidated statement of operations for 2019.

Tender for and Redemption of $400 Million 5% Senior Notes

In 2015, the Operating Partnership and Finco completed the private placement of $400.0 million in aggregate principal amount of senior notes due 2023 (the “$400 Million 5% Senior Notes”).

On February 9, 2021, the Company commenced a cash tender offer for any and all outstanding $400 Million 5% Senior Notes at a redemption price of $1,005.00 per $1,000 principal amount. Pursuant to the tender offer, $161.9 million aggregate principal amount of the $400 Million 5% Senior Notes were validly tendered. The Company used a portion of the proceeds from the issuance of the $600 million 4.50% senior notes discussed below to fund the tender offer.

In accordance with the indenture governing the $400 Million 5% Senior Notes, subsequent to expiration of the tender offer, in February 2021 the Company gave irrevocable notice of the redemption of all remaining $400 Million 5% Senior Notes not tendered in the tender offer. The redemption and cancellation of the remaining $400 Million 5% Senior Notes was completed on April 15, 2021. The Company used a portion of the proceeds from the issuance of the $600 million 4.50% senior notes discussed below to fund the redemption.

As a result of the Company’s purchase of tendered $400 Million 5% Senior Notes and the redemption of all untendered $400 Million 5% Senior Notes, the Company recognized a loss on extinguishment of debt of $2.9 million in 2021.

$600 Million 4.50% Senior Notes Due 2029

On February 17, 2021, the Operating Partnership and Finco completed the private placement of $600.0 million in aggregate principal amount of 4.50% senior notes due 2029 (the “$600 Million 4.50% Senior Notes”), which are guaranteed by the Company and its subsidiaries that guarantee the Company’s credit agreement.

The $600 Million 4.50% Senior Notes and guarantees were issued pursuant to an indenture by and among the issuing subsidiaries, the guarantors and U.S. Bank National Association, as trustee. The $600 Million 4.50% Senior Notes have a maturity date of February 15, 2029 and bear interest at 4.50% per annum, payable semi-annually in cash in arrears on February 15 and August 15 each year, beginning on August 15, 2021. The $600 Million 4.50% 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, including the Company’s $700 million 4.75% senior notes due 2027, and senior in right of payment to future subordinated indebtedness, if any.

The $600 Million 4.50% 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 $600 Million 4.50% 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 $600 Million 4.50% Senior Notes.

The net proceeds from the issuance of the $600 Million 4.50% Senior Notes totaled approximately $591 million, after deducting the initial purchasers’ discounts, commissions and offering expenses. The Company used a significant portion of these proceeds to tender and redeem the previous $400 Million 5% Senior Notes, as discussed above, and to repay all of the amounts outstanding under the Revolver at that time. The Company used the remaining net proceeds for general corporate purposes.

The $600 Million 4.50% Senior Notes are redeemable before February 15, 2024, in whole or in part, at 100.00%, plus accrued and unpaid interest thereon to, but not including, the redemption date, plus a make-whole premium. The $600 Million 4.50% Senior Notes will be redeemable, in whole or in part, at any time on or after February 15, 2024 at a redemption price expressed as a percentage of the principal amount thereof, which percentage is 102.250%, 101.500%, 100.750%, and 100.000% beginning on February 15 of 2024, 2025, 2026, and 2027, respectively, plus accrued and unpaid interest thereon to, but not including, the redemption date.

$700 Million 4.75% Senior Notes Due 2027

In September 2019, the Operating Partnership and 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. 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 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 tender and redeem the $350 Million 5% Senior Notes discussed above and to repay a portion of the amounts outstanding under the Revolver.

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 2019 issue date for the $500 Million 4.75% Senior Notes. The additional 2027 notes and the $500 Million 4.75% Senior Notes 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 Revolver.

The $700 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 $700 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.

The Company completed a registered offer to exchange the $700 Million 4.75% Senior Notes for registered notes with substantially identical terms as the $700 Million 4.75% Senior Notes in July 2020.

$800 Million Gaylord Rockies Term Loan

In July 2019, Aurora Convention Center Hotel, LLC and Aurora Convention Center Hotel Lessee, LLC, the entities that comprise Gaylord Rockies, entered into a Second Amended and Restated Loan Agreement (the “Gaylord Rockies Loan”) with Wells Fargo Bank, National Association, as administrative agent, which refinanced Gaylord Rockies’ previous $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 Gaylord Rockies intend to pursue a future expansion of Gaylord Rockies, which was announced in February 2020, but has been postponed as a result of the COVID-19 pandemic. 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, Gaylord

Rockies 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 to repay the previously outstanding $500 million construction loan and $39 million mezzanine loan, and, after payment of expenses, the excess proceeds were distributed to the owners of Gaylord Rockies 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 Revolver.

The Gaylord Rockies Loan is secured by a deed of trust lien on the Gaylord Rockies real estate and related assets. The Company has 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 Gaylord Rockies 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.

In June 2020, the Loan Parties entered into Amendment No. 1 (the “Loan Amendment”) to the Gaylord Rockies Loan, by and among the Loan Parties, Wells Fargo Bank, National Association, as administrative agent, and the lenders from time to time party thereto. The Loan Amendment modified the Gaylord Rockies Loan to (i) provide for the ability to use cash for certain purposes, even during a Cash Sweep Period (as defined in the Loan Agreement), which Gaylord Rockies is in beginning in July 2020, (ii) extend the deadline for the Company to commence construction of an expansion to Gaylord Rockies, and (iii) provide favorable changes to the debt service coverage ratio provisions. The Loan Amendment includes restrictions on distributions to the Company’s subsidiaries that own Gaylord Rockies and requires a certain level of equity financing for a Gaylord Rockies expansion.

Interest Rate Derivatives

The Company has entered into interest rate swaps to manage interest rate risk associated with the Term Loan B and Gaylord Rockies Loan. Each swap has been designated as a cash flow hedge 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 estimated fair values of the Company’s derivative financial instruments at December 31 are as follows (in thousands):


						Estimated Fair Value
						Asset (Liability) Balance
		Strike			Notional	December 31,		December 31,
Hedged Debt	Type	Rate	Index	Maturity Date	Amount	2021		2020
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500	$	(733)	$	(2,206)
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500		(733)		(2,206)
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500		(733)		(2,206)
Term Loan B	Interest Rate Swap	1.2315%	1-month LIBOR	May 11, 2023	$ 87,500		(742)		(2,222)
Gaylord Rockies Term Loan	Interest Rate Swap	1.6500%	1-month LIBOR	August 1, 2022	$ 800,000		(6,421)		(18,979)
						$	(9,362)	$	(27,819)

Derivative financial instruments in an asset position are included in prepaid expenses and other assets and those in a liability position are included in other liabilities in the accompanying consolidated balance sheets.

The effect of the Company’s derivative financial instruments on the accompanying consolidated statements of operations and comprehensive loss for the years ended December 31 is as follows (in thousands):


	Amount of Gain (Loss)				Location of Gain (Loss)	Amount of Gain (Loss)
	Recognized in OCI				Reclassified from	Reclassified from Accumulated
	on Derivative				Accumulated OCI	OCI into Income (Expense)
	2021		2020		into Income (Expense)	2021		2020
Derivatives in Cash Flow Hedging Relationships:
Interest rate swaps	$	1,955	$	(39,958)	Interest expense	$	(16,501)	$	(10,505)
Total derivatives	$	1,955	$	(39,958)		$	(16,501)	$	(10,505)

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 2021, 2020 and 2019 was $125.3 million, $115.8 million and $131.6 million, respectively.

At December 31, 2021, 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 $10.5 million. As of December 31, 2021, 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 $10.5 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.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section S99
-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 1E
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
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-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Deferred Management Rights Proceeds

12 Months Ended

Dec. 31, 2021

Deferred Management Rights Proceeds

Deferred Management Rights Proceeds

5. 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 such 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 reporting 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.

In addition, Gaylord Rockies sold its management rights to Marriott for $4.9 million, which was also deferred and is amortized on a straight-line basis over the 70-year term of the hotel management agreement, including extensions, as a reduction in management fee expense in the accompanying consolidated statements of operations.

Leases

12 Months Ended

Dec. 31, 2021

Leases

Leases

6. 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, Ole Red Tishomingo and Ole Red Nashville International Airport, 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 five to fifty-five 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 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 recorded $1.8 million, $0.7 million and $2.5 million of contingent rental expense related to Gaylord Palms in 2021, 2020 and 2019, respectively. 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 cost for the years ended December 31 is as follows (in thousands):


	2021		2020		2019
Operating lease cost	$	13,199	$	12,016	$	13,877
Finance lease cost:
Amortization of right-of-use assets		146		149		157
Interest on lease liabilities		39		48		63
Net lease cost	$	13,384	$	12,213	$	14,097

Future minimum lease payments under non-cancelable leases at December 31, 2021 are as follows (in thousands):


	Operating		Finance
	Leases		Leases
Year 1	$	6,575	$	234
Year 2		6,775		199
Year 3		6,555		46
Year 4		6,602		46
Year 5		6,792		46
Years thereafter		565,152		520
Total future minimum lease payments		598,451		1,091
Less amount representing interest		(484,681)		(207)
Total present value of minimum payments	$	113,770	$	884

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


Weighted-average remaining lease term:
Operating leases	48.1	years
Finance leases	10.6	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%

Stock Plans

12 Months Ended

Dec. 31, 2021

Stock Plans

Stock Plans

7. Stock Plans

The Company’s 2016 Omnibus Incentive Plan (the “Plan”) permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other share-based awards to its directors, employees and consultants. At December 31, 2021, approximately 0.8 million shares of common stock remained available for issuance pursuant to future grants of awards under the Plan.

Restricted stock units granted to employees vest one to four years from the date of grant, and restricted stock units granted to non-employee directors vest one year from the date of grant, unless the recipient chooses to defer the vesting for a period of time. Depending on the type of award, the fair value of restricted stock units is determined either based on the market price of the Company’s stock at the date of grant or based on a Monte-Carlo valuation. Forfeitures are estimated based on historical experience. The Company generally records compensation expense equal to the fair value of each restricted stock unit granted over the vesting period. The weighted-average grant-date fair value of restricted stock units granted during 2021, 2020, and 2019 was $73.96, $84.26, and $89.29, respectively.

A summary of the status of the Company’s restricted stock units as of December 31, 2021 and changes during the year ended December 31, 2021, is presented below:


		Weighted
		Average
		Grant-Date
Restricted Stock Units	Shares	Fair Value
Nonvested shares at January 1, 2021	359,903	$	78.41
Granted	336,199		73.96
Vested	(127,419)		68.36
Canceled	(7,467)		80.20
Nonvested shares at December 31, 2021	561,216		78.02

The fair value of all restricted stock units that vested during 2021, 2020 and 2019 was $10.6 million, $4.9 million and $12.7 million, respectively.

At December 31, 2021, there was $26.4 million of total unrecognized compensation cost related to restricted stock units granted under the Company’s equity incentive plans. That cost is expected to be recognized over a weighted-average period of 2.3 years.

The compensation cost that has been charged against pre-tax income for all of the Company’s stock-based compensation plans was $12.1 million, $8.7 million, and $7.8 million for 2021, 2020, and 2019, respectively. The total income tax benefit recognized in the accompanying consolidated statements of operations for all of the Company’s stock-based employee compensation plans was $2.9 million, $2.1 million, and $1.8 million for 2021, 2020, and 2019, respectively.

The actual tax benefit (expense) realized from exercise, vesting or cancellation of the stock-based employee compensation arrangements during 2021, 2020, and 2019 totaled $0.4 million, $(0.7) million, and $1.5 million, respectively, and is reflected as an adjustment to deferred tax liabilities in the accompanying consolidated balance sheets.

Pension Plans

12 Months Ended

Dec. 31, 2021

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Pension Plans

8. Pension Plans

Prior to January 1, 2001, the Company maintained a noncontributory defined benefit pension plan in which substantially all of its employees were eligible to participate upon meeting the pension plan’s participation requirements. The benefits were based on years of service and compensation levels. On December 31, 2000, benefits credited under the plan’s previous formula were frozen. On January 1, 2001, the Company amended its defined benefit pension plan to determine future benefits using a cash balance formula. Under the cash formula, each participant had an account which was credited monthly with 3% of qualified earnings and the interest earned on their previous month-end cash balance. In addition, the Company included a “grandfather” clause which assures that those participating at January 1, 2001 will receive the greater of the benefit calculated under the cash balance plan and the benefit that would have been payable if the defined benefit plan had remained in existence. The benefit payable to a terminated vested participant upon retirement at age 65, or as early as age 55 if the participant had 15 years of service at the time the plan was frozen, is equal to the participant’s account balance, which increases with interest credits over time. At retirement, the employee generally receives the balance in the account as a lump sum. The funding policy of the Company is to contribute annually an amount which equals or exceeds the minimum required by applicable law. On December 31, 2001, the plan was frozen such that no new participants were allowed to enter the plan and existing participants were no longer eligible to earn service credits.

As a result of increased lump-sum distributions from the retirement plan during 2021, 2020 and 2019, net settlement losses of $1.4 million, $1.7 million and $1.9 million were recognized in 2021, 2020 and 2019, respectively. These settlement losses have been classified as other gains and (losses), net in the accompanying consolidated statements of operations.

The following table sets forth the funded status of the retirement plan at December 31 (amounts in thousands):


	2021		2020
CHANGE IN BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	86,748	$	82,518
Interest cost		1,715		1,969
Actuarial (gain) loss		(4,547)		8,568
Benefits paid		(7,236)		(6,307)
Benefit obligation at end of year		76,680		86,748
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		71,221		66,000
Actual return on plan assets		8,202		9,801
Employer contributions		299		1,727
Benefits paid		(7,236)		(6,307)
Fair value of plan assets at end of year		72,486		71,221
Funded status and accrued pension cost	$	(4,194)	$	(15,527)

Net periodic pension (income) expense reflected in other gains and (losses), net in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands):


	2021		2020		2019
Interest cost	$	1,715	$	1,969	$	2,713
Expected return on plan assets		(4,253)		(4,101)		(3,849)
Amortization of net actuarial loss		689		1,004		970
Net settlement loss		1,379		1,740		1,904
Total net periodic pension (income) expense	$	(470)	$	612	$	1,738

Assumptions

The assumptions used to determine the benefit obligation at December 31 are as follows:


	2021		2020		2019
Discount rate	2.42	%	1.95	%	2.85	%
Rate of compensation increase	N/A		N/A		N/A

The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows:


	2021		2020		2019
Discount rate	2.13	%	2.40	%	3.51	%
Rate of compensation increase	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.00	%	6.50	%	6.50	%

The rate of increase in future compensation levels was not applicable for any reported years due to the Company amending the plan to freeze the cash balance benefit as described above.

The Company determines the overall expected long-term rate of return on plan assets based on its estimate of the return that plan assets will provide over the period that benefits are expected to be paid out. In preparing this estimate, the Company assesses the rates of return on each current allocation of plan assets, and advice from its third-party actuary and investment consultants. The expected return on plan assets is a long-term assumption and generally does not significantly change annually. While historical returns are considered, the rate of return assumption is primarily based on projections of expected returns based on fair value, using economic data and financial models to estimate the probability of returns. The probability distribution of annualized returns for the portfolio using current asset allocations is used to determine the expected range of returns for a ten-to-twenty-year horizon. While management believes that the

assumptions used are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension obligations and expense.

Plan Assets

The plan’s overall strategy is to achieve a rate of return necessary to fund benefit payments by utilizing a variety of asset types, investment strategies and investment managers. The plan seeks to achieve a long-term rate of return over inflation resulting from income, capital gains, or both, which assists the plan in meeting its long-term objectives.

The long-term target allocations for the plan’s assets are managed dynamically according to a sliding scale correlating with the funded status of the plan. As the plan’s funded status increases, allocations are moved away from equity securities toward fixed income securities. Equity securities primarily include large cap and mid cap companies. Fixed income securities primarily include corporate bonds of companies in diversified industries, mortgage-backed securities and U.S. Treasuries. Investments in hedge funds and private equity funds are not held by the plan.

The allocation of the defined benefit pension plan’s assets at December 31 is as follows (amounts in thousands):


Asset Class	2021		2020
Cash	$	935	$	2,457
Mutual funds		71,551		68,764
Total	$	72,486	$	71,221

All of the assets held by the plan consist of money market and mutual funds traded in an active market. The Company determined the fair value of these assets 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.

Periodically, and based on market conditions, the entire account is rebalanced to maintain the desired allocation and the investment policy is reviewed. Within each asset class, plan assets are allocated to various investment styles. Professional managers manage all assets of the plan, and professional advisors assist the plan in the attainment of its objectives.

Expected Contributions and Benefit Payments

The Company does not expect to be required to contribute to its defined benefit pension plan in 2022. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands):


2022	$	7,460
2023		4,771
2024		4,709
2025		6,535
2026		5,452
2027 - 2031		26,985

Other Information

The Company also maintains non-qualified pension plans (the “Non-Qualified Plans”) to provide benefits to certain key employees. The Non-Qualified Plans are not funded and the beneficiaries’ rights to receive distributions under these plans constitute unsecured claims to be paid from the Company’s general assets. At December 31, 2021, the Non-Qualified Plans’ projected benefit obligations and accumulated benefit obligations were $14.2 million.

The Company’s accrued cost related to its qualified and non-qualified pension plans of $18.4 million and $30.8 million at December 31, 2021 and 2020, respectively, is included in other liabilities in the accompanying consolidated balance sheets. The change in the deferred net loss related to the Company’s retirement plans during 2021, 2020 and 2019

resulted in an increase (decrease) in equity of $9.9 million, $(2.3) million and $2.1 million, respectively, net of taxes of $0, $0, and $0.5 million, respectively. Each of these adjustments to equity due to the change in the minimum liability is included in other comprehensive loss in the accompanying consolidated statements of stockholders’ equity (deficit) and noncontrolling interest.

The combined net loss, amortization of net loss, and new prior service credit and amortization of prior service credit recognized in other comprehensive loss for the years ended December 31, 2021 and 2020 was $9.9 million and $(2.3) million, respectively. Included in accumulated other comprehensive loss at December 31, 2021 and 2020 are unrecognized actuarial losses of $26.1 million and $37.4 million ($19.3 million and $30.7 million net of tax), respectively, that have not yet been recognized in net periodic pension expense. Net losses are amortized into net periodic pension expense based on the life expectancy of plan participants expected to receive benefits, using a corridor approach based on the greater of projected benefit obligation or fair value of plan assets.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Equity

12 Months Ended

Dec. 31, 2021

Equity

Equity

9. Equity

Equity Offering

In December 2019, the Company completed an underwritten public offering of approximately 3.5 million shares of its common stock, par value $0.01 per share, at a price to the public of $85.60 per share. Net proceeds to the Company, after deducting underwriting discounts and commissions and other expenses paid by the Company, were approximately $283 million. The Company used the net proceeds for general corporate purposes.

Dividends

During 2020, the Company’s board of directors declared a first quarter dividend of $0.95 per share of common stock, or an aggregate of $52.2 million in cash. Following the payment of the first quarter 2020 cash dividend, the Company suspended its regular quarterly dividend payments. The Company’s board of directors will consider a future dividend as permitted by the Company’s credit agreement. The Amendment described in Note 4, “Debt,” permits payment of dividends as necessary to maintain the Company’s REIT status and permits the Company to pay a dividend of $0.01 per share each quarter. Any future dividend is subject to the Company’s board of director’s determination as to the amount of distributions and the timing thereof.

During 2019, the Company’s board of directors declared quarterly dividends totaling $3.60 per share of common stock for the full year, or an aggregate of $188.3 million in cash.

To maintain its qualification as a REIT for federal income tax purposes, the Company must distribute at least 90% of its REIT taxable income each year. Prior to the suspension of dividends due to the COVID-19 pandemic, the Company had planned to continue to pay a quarterly cash dividend to stockholders in an amount equal to an annualized payment of at least 50% of adjusted funds from operations (as defined by the Company) less maintenance capital expenditures or 100% of REIT taxable income on an annual basis, whichever is greater. The declaration, timing and amount of dividends will be determined by future action of the Company’s board of directors. The dividend policy may be altered at any time by the Company’s board of directors.

Treasury Stock

On December 18, 2008, following approval by the Human Resources Committee and the Board of Directors, the Company and the Company’s Chairman of the Board of Directors and Chief Executive Officer (“Executive”) entered into an amendment to Executive’s employment agreement. The amendment provided Executive with the option of making an irrevocable election to invest his existing Supplemental Employee Retirement Plan (“SERP”) benefit in Company common stock, which election Executive subsequently made. The investment was made by a rabbi trust in which, during January 2009, the independent trustee of the rabbi trust purchased shares of Company common stock in the open market in compliance with applicable law. Executive is only entitled to a distribution of the Company common stock held by the rabbi trust in satisfaction of his SERP benefit. As such, the Company believes that the ownership of shares of common stock by the rabbi trust and the distribution of those shares to Executive in satisfaction of his SERP

benefit meets the requirements necessary so that the Company will not recognize any increase or decrease in expense as a result of subsequent changes in the value of the Company common stock and the purchased shares are treated as treasury stock and the SERP benefit is included in additional paid-in capital in the Company’s accompanying consolidated financial statements. The increase in treasury stock for a particular year represents dividends received on shares of Company common stock held by the rabbi trust.

Noncontrolling Interest in Operating Partnership

The Company consolidates the Operating Partnership, which is a majority-owned limited partnership that has a noncontrolling interest. The outstanding OP Units held by the noncontrolling limited partners are redeemable for cash, or if the Company so elects, in shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments. At December 31, 2021, 0.4 million outstanding OP Units, or less than 1% of the outstanding OP Units, were held by the noncontrolling limited partners and are included as a component of equity in the accompanying consolidated balance sheet. The Company owns, directly or indirectly, the remaining 99.3% of the outstanding OP Units.

At-the-Market (“ATM”) Equity Distribution Agreement

On May 27, 2021, the Company entered into an ATM equity distribution agreement (the “ATM Agreement”) with a consortium of banks (each a “Sales Agent” and collectively, the “Sales Agents”), pursuant to which the Company may offer and sell to or through the Sales Agents (the “ATM Offering”), from time to time, up to 4.0 million shares (the “Shares”) of the Company’s common stock in such share amounts as the Company may specify by notice to the Sales Agents, in accordance with the terms and conditions set forth in the ATM Agreement.

Under the ATM Agreement, the Company will set the parameters for the sale of the Shares, including the number of the Shares to be issued, the time period during which sales are requested to be made, limitation on the number of the Shares that may be sold in any one trading day and any minimum price below which sales may not be made. Each Sales Agent will use its commercially reasonable efforts, consistent with its normal trading and sales practices, to sell such Shares up to the amount specified, and otherwise in accordance with mutually agreed terms between the Sales Agent and the Company. Neither the Company nor any of the Sales Agents are obligated to sell any specific number or dollar amount of Shares under the ATM Agreement. The Sales Agents will be paid a commission of up to 2.0% of the gross sales price from the sale of any Shares. The Company intends to use the net proceeds from any sale of Shares for the repayment of outstanding indebtedness, which may include the repayment of amounts outstanding under the Company’s credit agreement governing the Company’s revolving credit facility. Net proceeds which are not used for the repayment of outstanding indebtedness (to the extent then permitted by the Company’s credit agreement) may be used for general corporate purposes.

No shares were issued under the ATM Agreement during 2021.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component consisted of the following (amounts 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)
Gains arising during period		693		—		3,539		4,232
Amounts reclassified from accumulated other comprehensive loss		97		333		(1,905)		(1,475)
Income tax expense		(185)		—		—		(185)
Net other comprehensive income		605		333		1,634		2,572
Transition adjustment related to adoption of ASU 2018-02		(2,707)		—		—		(2,707)
Balance, December 31, 2019	$	(23,916)	$	(5,877)	$	1,634	$	(28,159)
Losses arising during period		(2,901)		—		(39,958)		(42,859)
Amounts reclassified from accumulated other comprehensive loss		194		210		10,505		10,909
Net other comprehensive income (loss)		(2,707)		210		(29,453)		(31,950)
Transition adjustment related to adoption of ASU 2016-13		—		2,158		—		2,158
Balance, December 31, 2020	$	(26,623)	$	(3,509)	$	(27,819)	$	(57,951)
Gains arising during period		10,314		—		1,955		12,269
Amounts reclassified from accumulated other comprehensive loss		(110)		211		16,501		16,602
Net other comprehensive income		10,204		211		18,456		28,871
Balance, December 31, 2021	$	(16,419)	$	(3,298)	$	(9,363)	$	(29,080)

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Taxes

Income Taxes

10. 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 pays federal and state corporate income taxes on earnings of its taxable REIT subsidiaries (“TRSs”).

The income tax provision for continuing operations consists of the following (amounts in thousands):


	2021		2020		2019
CURRENT:
Federal	$	126	$	(101)	$	(120)
State		(1,077)		(457)		(3,941)
Total current provision		(951)		(558)		(4,061)
DEFERRED:
Federal		(3,646)		(13,565)		(13,715)
State		(360)		(12,961)		(699)
Total deferred provision		(4,006)		(26,526)		(14,414)
Total provision for income taxes	$	(4,957)	$	(27,084)	$	(18,475)

Due to the financial statement impact of the COVID-19 pandemic, and in connection with the preparation of the consolidated financial statements included herein, the Company reassessed the realizability of net deferred tax assets during 2020. As a result, the Company’s tax provision for 2020 includes $26.7 million in expense related to the recording of a valuation allowance on the 2020 beginning net deferred tax assets of its TRSs.

The Company is required to distribute at least 90% of its annual taxable income, excluding net capital gains, to its stockholders in order to maintain its qualification as a REIT. The taxability of distributions to stockholders is determined by the Company’s earnings and profits, which differs from net income (loss) reported for financial reporting purposes.

The Company made no cash distributions in 2021. The estimated taxability of cash distributions to common shareholders is shown in the table below (per common share) (unaudited).


	2021		2020		2019
Ordinary income	$	—	$	—	$	2.55
Capital gains		—		0.05		0.05
Return of capital		—		1.80		0.88
	$	—	$	1.85	$	3.48

The differences between the income tax provision calculated at the statutory U.S. federal income tax rate of 21% and the actual income tax provision recorded for continuing operations are as follows (amounts in thousands):


	2021		2020		2019
Statutory federal income tax (provision) benefit	$	39,868	$	91,085	$	(30,822)
Adjustment for nontaxable income of the REIT		(16,379)		(33,116)		15,803
Adjustment for noncontrolling interest in consolidated joint venture		(1,834)		(5,010)		(662)
State tax (provision) benefit (net of federal taxes)		8,581		5,876		(4,596)
Permanent share-based compensation adjustment		329		(579)		1,257
Other permanent items		(281)		(200)		(377)
Change in federal valuation allowance		(25,698)		(65,368)		556
Change in state valuation allowance (net of federal taxes)		(9,264)		(19,293)		(44)
Other		(279)		(479)		410
	$	(4,957)	$	(27,084)	$	(18,475)

Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands):


	2021		2020
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$	26,340	$	17,545
Defined benefit plan		1,074		3,924
Deferred management rights proceeds		43,009		42,424
Federal and State net operating loss carryforwards		105,484		110,869
Tax credits and other carryforwards		1,484		1,114
Other assets		4,477		5,022
Total deferred tax assets		181,868		180,898
Valuation allowance		(125,387)		(97,700)
Total deferred tax assets, net of valuation allowance		56,481		83,198
DEFERRED TAX LIABILITIES:
Property and equipment, net		57,035		71,940
Investment in joint ventures		101		11,048
Other liabilities		4,016		875
Total deferred tax liabilities		61,152		83,863
Net deferred tax liabilities	$	(4,671)	$	(665)

Federal net operating loss carryforwards at the TRS at December 31, 2021 totaled $367.2 million, resulting in a deferred tax asset of $77.1 million. Of the total TRS federal net operating loss carryforwards, $40.3 million were created prior to 2018 and can be used to offset 100% of taxable income in the future. These federal net operating loss carryforwards will expire between 2033 and 2037. The remaining $326.9 million of federal net operating loss carryforwards have no expiration date and can be used to offset 80% of taxable income in the future. Federal net operating loss carryforwards at the REIT at December 31, 2021 totaled $88.4 million, resulting in no deferred tax asset. These net operating losses have no expiration date and can be used to offset 80% of REIT taxable income in the future. The use of certain federal net operating losses, credits and other deferred tax assets are limited to the Company’s future taxable earnings. As a result, a

valuation allowance has been provided for certain federal deferred tax assets. The valuation allowance related to federal deferred tax assets increased (decreased) $23.0 million, $65.9 million and $(0.5) in 2021, 2020 and 2019, respectively.

State net operating loss carryforwards at December 31, 2021 totaled $597.4 million, resulting in a deferred tax benefit of $28.4 million, which will expire between 2024 and 2037. The use of certain state net operating losses, credits and other state deferred tax assets are limited to the future taxable earnings of separate legal entities. As a result, a valuation allowance has been provided for certain state deferred tax assets, including loss carryforwards. The valuation allowance related to state deferred tax assets increased (decreased) $4.7 million, $19.4 million and $(1.3) million in 2021, 2020 and 2019, respectively.

The Company has concluded IRS examinations of the TRS through the 2015 tax year. For federal income tax purposes and substantially all the states with which the Company has nexus, the statute of limitations has expired through 2017. However, the Company has state net operating loss carryforwards from closed years, which could be adjusted upon audit. The Company is routinely subject to other various jurisdictional income tax audits; however, there were no outstanding state or local audits at December 31, 2021.

At December 31, 2021 and 2020, the Company had no accruals for unrecognized tax benefits. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. At December 31, 2021 and 2020, the Company has accrued no interest or penalties related to uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies

Commitments and Contingencies

11. Commitments and Contingencies

In April 2019, the Company acquired a 50% equity interest in Circle and has made capital contributions of $21.0 million through December 31, 2021. In addition, the Company intends to contribute up to an additional $12.0 million through December 31, 2022 for working capital needs.

The Company is self-insured up to a stop loss for certain losses relating to workers’ compensation claims and general liability claims through September 30, 2012, and for certain losses related to employee medical benefits through December 31, 2012. The Company’s insurance program subsequently transitioned to a low or no deductible program. The Company has purchased stop-loss coverage in order to limit its exposure to any significant levels of claims relating to workers’ compensation, employee medical benefits and general liability for which it is self-insured. Beginning January 1, 2022, the Company is again self-insured for certain losses related to employee medical benefits.

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

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

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Measurements

Fair Value Measurements

12. 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.

The investments held by the Company in connection with its deferred compensation plan consist of money market and mutual funds traded in an active market. The Company determined the fair value of these assets 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 Company’s interest rate swaps consist of over-the-counter swap contracts, which are not traded on a public exchange. The Company 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 flow, 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, these swap contracts have been classified as Level 2.

The Company has consistently applied these valuation techniques in all periods presented and believes it has obtained the most accurate information available for the types of instruments it holds.

The Company’s assets and liabilities that are required to be measured at fair value on a recurring basis at December 31, were as follows (in thousands):


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	31,183	$	31,183	$	—	$	—
Total assets measured at fair value	$	31,183	$	31,183	$	—	$	—

Variable to fixed interest rate swaps	$	9,362	$	—	$	9,362	$	—
Total liabilities measured at fair value	$	9,362	$	—	$	9,362	$	—


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2020		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	31,277	$	31,277	$	—	$	—
Total assets measured at fair value	$	31,277	$	31,277	$	—	$	—

Variable to fixed interest rate swaps	$	27,819	$	—	$	27,819	$	—
Total liabilities measured at fair value	$	27,819	$	—	$	27,819	$	—

The remainder of the assets and liabilities held by the Company at December 31, 2021 are not required to be measured at fair value, and the carrying values of these assets and liabilities approximate fair value, except as described below.

As discussed in Note 4, “Debt,” the Company has outstanding $600.0 million in aggregate principal amount of the $600 Million 4.50% Senior Notes. The carrying value of these notes at December 31, 2021 was $590.6 million, net of unamortized DFCs. The fair value of these notes, based upon quoted market prices (Level 1), was $598.7 million at December 31, 2021.

As discussed in Note 4, “Debt,” the Company has outstanding $700.0 million in aggregate principal amount of the $700 Million 4.75% Senior Notes. The carrying value of these notes at December 31, 2021 was $692.6 million, net of unamortized DFCs and premiums. The fair value of these notes, based upon quoted market prices (Level 1), was $722.3 million at December 31, 2021.

- 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

12 Months Ended

Dec. 31, 2021

Financial Reporting By Business Segments

Financial Reporting By Business Segments

13. Financial Reporting By Business Segments

The Company’s continuing operations are organized into the following principal business segments:

●

Hospitality, which includes the Gaylord Hotels properties, the Inn at Opryland and the AC Hotel;

●

Entertainment, which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the Company’s other Nashville-based attractions, and the Company’s investment in the Circle joint venture; and

●

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

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


	2021		2020		2019
Revenues:
Hospitality	$	786,583	$	466,045	$	1,421,446
Entertainment		152,790		58,430		183,120
Corporate and Other		—		—		—
Total	$	939,373	$	524,475	$	1,604,566

Depreciation and amortization:
Hospitality	$	203,675	$	198,073	$	201,068
Entertainment		14,655		14,371		11,150
Corporate and Other		2,027		2,638		1,629
Total	$	220,357	$	215,082	$	213,847

Operating income (loss):
Hospitality	$	(38,013)	$	(204,868)	$	263,203
Entertainment		20,382		(34,242)		45,361
Corporate and Other		(40,624)		(31,433)		(37,911)
Preopening costs (1)		(737)		(1,665)		(3,122)
Gain on sale of assets (2)		317		1,161		—
Credit loss on held-to-maturity securities (3)		—		(32,784)		—
Total operating income (loss)		(58,675)		(303,831)		267,531

Interest expense		(125,347)		(115,783)		(131,620)
Interest income		5,685		7,304		11,769
Loss on extinguishment of debt		(2,949)		—		(494)
Loss from unconsolidated joint ventures (4)		(8,963)		(6,451)		(1,110)
Other gains and (losses), net		405		(14,976)		693
Income (loss) before income taxes	$	(189,844)	$	(433,737)	$	146,769

(1)

Preopening costs for 2021 relate to the Hospitality segment. Preopening costs for 2020 include $0.3 million and $1.4 million for the Hospitality and Entertainment segments, respectively. Preopening costs for 2019 include $1.3 million and $1.9 million for the Hospitality and Entertainment segments, respectively.

(2)

Gain on sale of assets for 2021 and 2020 relates to the Hospitality segment.

(3)

Credit loss on held-to-maturity securities for 2020 relates to the Hospitality segment.

(4)

Loss from unconsolidated joint ventures relates to the Entertainment segment.


	December 31,		December 31,
	2021		2020
Identifiable assets:
Hospitality	$	3,266,679	$	3,279,238
Entertainment		214,270		185,178
Corporate and Other		99,576		92,079
Total identifiable assets	$	3,580,525	$	3,556,495

The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):


	2021		2020		2019
Hospitality	$	73,199	$	146,654	$	120,899
Entertainment		3,560		13,697		25,000
Corporate and other		667		5,112		6,642
Total capital expenditures	$	77,426	$	165,463	$	152,541

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2021

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
(Amounts in thousands)


Description	Balance at Beginning of Year		Additions Charged to Expenses/Other Accounts		Net (Deductions) Recoveries		Balance at End of Year
Credit loss reserve on notes receivable:
Year ended December 31, 2021	$	37,962	$	-	$	-	$	37,962
Year ended December 31, 2020	$	-	$	37,962	$	-	$	37,962

Valuation allowance for deferred tax assets:
Year ended December 31, 2021	$	97,700	$	27,687	$	-	$	125,387
Year ended December 31, 2020	$	12,387	$	85,313	$	-	$	97,700
Year ended December 31, 2019	$	14,210	$	-	$	(1,823)	$	12,387

SCHEDULE III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

SCHEDULE III Real Estate and Accumulated Depreciation

SCHEDULE III Real Estate and Accumulated Depreciation

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2021
(Amounts in thousands)


						Costs
		Initial Cost to Company				Capitalized		Gross Amount at End of Year								Date Acq/	Depr Life
	Encmbr	Land		Bldgs & Impr		Subs to Acq		Land		Bldgs & Impr		Total (3)		Acc Depr		Constr	(yrs)
Gaylord Opryland	(1)	$	11,482	$	77,125	$	691,991	$	71,200	$	709,398	$	780,598	$	415,006	1983	20-40
Gaylord Palms	(1)		21,564		314,661		197,255		39,190		494,290		533,480		200,561	2002	20-40
Gaylord Texan	(1)		21,235		388,030		185,144		49,003		545,406		594,409		218,248	2004	20-40
Gaylord National	(1)		43,212		840,261		61,095		47,609		896,959		944,568		298,182	2008	20-40
Gaylord Rockies	(2)		53,374		760,898		5,317		55,538		764,051		819,589		69,434	2018	20-40
Inn at Opryland	—		2,675		7,248		19,233		3,049		26,107		29,156		11,763	1998	20-40
AC Hotel	—		9,079		17,340		3,781		9,099		21,101		30,200		3,749	2014	20-40
Miscellaneous	—		43,337		6,717		9,957		54,806		5,205		60,011		12,784	N/A	20-40
	—	$	205,958	$	2,412,280	$	1,173,773	$	329,494	$	3,462,517	$	3,792,011	$	1,229,727


	2021		2020		2019
Investment in real estate:
Balance at beginning of year	$	3,642,007	$	3,615,025	$	3,563,304
Other acquisitions		22,227		—		—
Improvements		146,030		27,911		53,373
Disposals		(2,058)		(929)		(1,652)
Other deductions (4)		(16,195)		—		—
Balance at end of year	$	3,792,011	$	3,642,007	$	3,615,025

Accumulated depreciation:
Balance at beginning of year	$	1,140,564	$	1,044,689	$	949,630
Depreciation		99,104		96,263		95,415
Disposals		(1,346)		(388)		(356)
Other deductions (4)		(8,595)		—		—
Balance at end of year	$	1,229,727	$	1,140,564	$	1,044,689

(1)	Pledged as collateral under the Company’s credit facility. At December 31, 2021, $866.5 million in borrowings and letters of credit were outstanding under such facility.

(2)	Pledged as collateral under the Gaylord Rockies term loan. At December 31, 2021, $800.0 million in borrowings were outstanding under such loan.

(3)	The aggregate cost of properties for federal income tax purposes is approximately $3.4 billion at December 31, 2021.

(4)	Other deductions represents assets transferred as part of an internal reorganization.

Description of the Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Description of the Business and Summary of Significant Accounting Policies

Business Segments

Hospitality

Entertainment

Corporate and Other

Principles of Consolidation

venture effective January 1, 2019. As Gaylord Rockies is now wholly-owned by the Company, it is no longer considered as a VIE. See “Noncontrolling Interest” below for further discussion.

Property and Equipment


Buildings		40 years
Land improvements		20 years
Furniture, fixtures and equipment		5-8 years
Leasehold improvements		The shorter of the lease term or useful life

Cash and Cash Equivalents - Unrestricted

Cash and Cash Equivalents — Unrestricted

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Cash and Cash Equivalents - Restricted

Cash and Cash Equivalents — Restricted

Accounts Receivable

Credit Loss Reserves on Accounts Receivable

Inventory

Inventories consist primarily of food and beverage inventory for resale and retail inventory sold in the Entertainment segment. Inventory is carried at the lower of cost or net realizable value. Cost is computed on an average cost basis.

Intangible Assets

Investments

Income Taxes

Deferred Management Rights Proceeds

Deferred Financing Costs

Noncontrolling Interest

Noncontrolling Interest

Revenue Recognition

Deferred Revenue

Management Fees

Management FeesManagement fees are presented in the consolidated statements of operations net of the amortization of the deferred management rights proceeds discussed further in Note 5, “Deferred Management Rights Proceeds.”

Advertising Costs

Advertising costs are expensed as incurred and were $36.2 million, $23.0 million, and $53.2 million for 2021, 2020 and 2019, respectively.

Stock-Based Compensation

Preopening Costs

Derivative Financial Instruments

Impairment of Long-Lived and Other Assets

The Company recorded no impairment losses during 2021, 2020 or 2019.

Income (Loss) Per Share

Accounting Estimates

Description of the Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Description of the Business and Summary of Significant Accounting Policies

Estimated Useful Lives of Property and Equipment


Buildings		40 years
Land improvements		20 years
Furniture, fixtures and equipment		5-8 years
Leasehold improvements		The shorter of the lease term or useful life

Cash Paid for Interest

Cash paid for interest, net of amounts from interest rate swaps, for the years ended December 31 was comprised of (amounts in thousands):


	2021		2020		2019
Debt interest paid	$	113,669	$	113,743	$	121,876
Capitalized interest		(2,922)		(3,753)		(1,618)
Cash paid for interest, net of capitalized interest	$	110,747	$	109,990	$	120,258

Summary of Prepaid Expense and Other Assets

Prepaid expenses and other assets at December 31 consist of (amounts in thousands):


	2021		2020
Prepaid expenses	$	24,359	$	19,447
Supplemental deferred compensation plan assets		31,183		31,277
Tax rebate receivables		21,456		27,096
Inventories		8,369		7,157
Other		27,537		15,517
Total prepaid expenses and other assets	$	112,904	$	100,494

Summary of Estimated Amounts of Amortization Expense for Next Five Years


2022	$	22,240
2023		4,282
2024		4,044
2025		4,038
2026		4,038
	$	38,642

Accounts Payable and Accrued Liabilities of Continuing Operations

Accounts payable and accrued liabilities at December 31 consist of (amounts in thousands):


	2021		2020
Trade accounts payable	$	31,725	$	23,125
Property and other taxes payable		54,991		51,821
Deferred revenues		116,820		70,441
Accrued salaries and benefits		42,472		20,598
Accrued interest payable		20,313		14,263
Other accrued liabilities		38,398		22,873
Total accounts payable and accrued liabilities	$	304,719	$	203,121

Other Liabilities

Other liabilities at December 31 consist of (amounts in thousands):


	2021		2020
Pension and postretirement benefits liability	$	20,061	$	32,686
Deferred compensation liability		31,183		31,277
Derivative liabilities		9,362		27,819
Other		11,333		997
Total other liabilities	$	71,939	$	92,779

Revenues Disaggregated by Major Source

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


	2021		2020		2019
Hotel group rooms	$	131,404	$	88,606	$	387,741
Hotel transient rooms		197,470		83,112		169,821
Hotel food and beverage - banquets		140,186		116,624		453,612
Hotel food and beverage - outlets		139,303		70,914		207,158
Hotel other		178,220		106,789		203,114
Entertainment admissions/ticketing		62,768		16,564		81,434
Entertainment food and beverage		51,515		21,506		63,815
Entertainment produced content		5,919		4,708		3,759
Entertainment retail and other		32,588		15,652		34,112
Total revenues	$	939,373	$	524,475	$	1,604,566

Hospitality Segment Revenues Disaggregated by Location

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


	2021		2020		2019
Gaylord Opryland	$	238,567	$	133,333	$	385,610
Gaylord Palms		139,130		77,819		208,298
Gaylord Texan		180,031		111,236		292,548
Gaylord National		79,419		52,026		281,367
Gaylord Rockies		135,942		84,715		226,576
AC Hotel		5,838		3,332		11,725
Inn at Opryland		7,656		3,584		15,322
Total Hospitality segment revenues	$	786,583	$	466,045	$	1,421,446

Income Per Share


	2021
	Loss		Shares	Per Share
Net loss available to common stockholders	$	(176,966)	55,047	$	(3.21)
Effect of dilutive stock-based compensation		—	—		—
Net loss available to common stockholders — assuming dilution	$	(176,966)	55,047	$	(3.21)


	2020
	Loss		Shares	Per Share
Net loss available to common stockholders	$	(417,391)	54,962	$	(7.59)
Effect of dilutive stock-based compensation		—	—		—
Net loss available to common stockholders — assuming dilution	$	(417,391)	54,962	$	(7.59)


	2019
	Income		Shares	Per Share
Net income available to common stockholders	$	145,794	51,609	$	2.82
Effect of dilutive stock-based compensation		—	169		—
Effect of dilutive put rights		—	197		—
Net income available to common stockholders — assuming dilution	$	145,794	51,975	$	2.81

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property and Equipment

Property and Equipment

Property and equipment at December 31 is recorded at cost, with the exception of right-of-use finance leases and assets acquired in an acquisition, and summarized as follows (amounts in thousands):


	2021		2020
Land and land improvements	$	378,598	$	351,618
Buildings		3,601,974		3,462,218
Furniture, fixtures and equipment		981,589		960,666
Right-of-use finance lease assets		1,613		1,613
Construction-in-progress		14,337		166,084
		4,978,111		4,942,199
Accumulated depreciation and amortization		(1,946,267)		(1,824,952)
Property and equipment, net	$	3,031,844	$	3,117,247

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt

Summary of Debt and Finance Lease Obligations

The Company’s debt and finance lease obligations at December 31 consisted of (amounts in thousands):


	2021		2020
$700M Revolving Credit Facility	$	190,000	$	106,000
$300M Term Loan A		300,000		300,000
$500M Term Loan B		376,250		381,250
$400M Senior Notes		—		400,000
$600M Senior Notes		600,000		—
$700M Senior Notes		700,000		700,000
$800M Gaylord Rockies Term Loan		800,000		800,000
Finance lease obligations		884		1,095
Unamortized deferred financing costs		(32,203)		(32,504)
Unamortized premium		1,888		2,167
Total debt	$	2,936,819	$	2,658,008

Annual Maturities of Long-Term Debt Excluding Finance Lease Obligations

Annual maturities of long-term debt, excluding finance lease obligations, are as follows (amounts in thousands):


											Years
	2022		2023		2024		2025		2026		Thereafter		Total
$700M Revolving Credit Facility	$	—	$	—	$	190,000	$	—	$	—	$	—	$	190,000
$300M Term Loan A		—		—		—		300,000		—		—		300,000
$500M Term Loan B		5,000		5,000		366,250		—		—		—		376,250
$600M 4.50% Senior Notes		—		—		—		—		—		600,000		600,000
$700M 4.75% Senior Notes		—		—		—		—		—		700,000		700,000
$800M Gaylord Rockies Term Loan		—		800,000		—		—		—		—		800,000
Total	$	5,000	$	805,000	$	556,250	$	300,000	$	—	$	1,300,000	$	2,966,250

Schedule of Fair Value of the Company's Derivative Financial Instruments

The estimated fair values of the Company’s derivative financial instruments at December 31 are as follows (in thousands):


						Estimated Fair Value
						Asset (Liability) Balance
		Strike			Notional	December 31,		December 31,
Hedged Debt	Type	Rate	Index	Maturity Date	Amount	2021		2020
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500	$	(733)	$	(2,206)
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500		(733)		(2,206)
Term Loan B	Interest Rate Swap	1.2235%	1-month LIBOR	May 11, 2023	$ 87,500		(733)		(2,206)
Term Loan B	Interest Rate Swap	1.2315%	1-month LIBOR	May 11, 2023	$ 87,500		(742)		(2,222)
Gaylord Rockies Term Loan	Interest Rate Swap	1.6500%	1-month LIBOR	August 1, 2022	$ 800,000		(6,421)		(18,979)
						$	(9,362)	$	(27,819)

Summary of Effect of Derivative Financial Instruments on the Accompanying Consolidated Statements of Operations


	Amount of Gain (Loss)				Location of Gain (Loss)	Amount of Gain (Loss)
	Recognized in OCI				Reclassified from	Reclassified from Accumulated
	on Derivative				Accumulated OCI	OCI into Income (Expense)
	2021		2020		into Income (Expense)	2021		2020
Derivatives in Cash Flow Hedging Relationships:
Interest rate swaps	$	1,955	$	(39,958)	Interest expense	$	(16,501)	$	(10,505)
Total derivatives	$	1,955	$	(39,958)		$	(16,501)	$	(10,505)

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases

Schedule of Company's Lease Cost

The Company’s lease cost for the years ended December 31 is as follows (in thousands):


	2021		2020		2019
Operating lease cost	$	13,199	$	12,016	$	13,877
Finance lease cost:
Amortization of right-of-use assets		146		149		157
Interest on lease liabilities		39		48		63
Net lease cost	$	13,384	$	12,213	$	14,097

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at December 31, 2021 are as follows (in thousands):


	Operating		Finance
	Leases		Leases
Year 1	$	6,575	$	234
Year 2		6,775		199
Year 3		6,555		46
Year 4		6,602		46
Year 5		6,792		46
Years thereafter		565,152		520
Total future minimum lease payments		598,451		1,091
Less amount representing interest		(484,681)		(207)
Total present value of minimum payments	$	113,770	$	884

Summary of Maturities of Finance Lease Liabilities


	Operating		Finance
	Leases		Leases
Year 1	$	6,575	$	234
Year 2		6,775		199
Year 3		6,555		46
Year 4		6,602		46
Year 5		6,792		46
Years thereafter		565,152		520
Total future minimum lease payments		598,451		1,091
Less amount representing interest		(484,681)		(207)
Total present value of minimum payments	$	113,770	$	884

Schedule of Remaining Lease Term and Discount Rate of Leases


Weighted-average remaining lease term:
Operating leases	48.1	years
Finance leases	10.6	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%

Stock Plans (Tables)

12 Months Ended

Dec. 31, 2021

Stock Plans

Share-Based Compensation Activity

A summary of the status of the Company’s restricted stock units as of December 31, 2021 and changes during the year ended December 31, 2021, is presented below:


		Weighted
		Average
		Grant-Date
Restricted Stock Units	Shares	Fair Value
Nonvested shares at January 1, 2021	359,903	$	78.41
Granted	336,199		73.96
Vested	(127,419)		68.36
Canceled	(7,467)		80.20
Nonvested shares at December 31, 2021	561,216		78.02

Pension Plans (Tables)

12 Months Ended

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Funded Status and Accrued Pension Cost

The following table sets forth the funded status of the retirement plan at December 31 (amounts in thousands):


	2021		2020
CHANGE IN BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	86,748	$	82,518
Interest cost		1,715		1,969
Actuarial (gain) loss		(4,547)		8,568
Benefits paid		(7,236)		(6,307)
Benefit obligation at end of year		76,680		86,748
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		71,221		66,000
Actual return on plan assets		8,202		9,801
Employer contributions		299		1,727
Benefits paid		(7,236)		(6,307)
Fair value of plan assets at end of year		72,486		71,221
Funded status and accrued pension cost	$	(4,194)	$	(15,527)

Assumptions Used to Determine Benefit Obligations

The assumptions used to determine the benefit obligation at December 31 are as follows:


	2021		2020		2019
Discount rate	2.42	%	1.95	%	2.85	%
Rate of compensation increase	N/A		N/A		N/A

The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows:


	2021		2020		2019
Discount rate	2.13	%	2.40	%	3.51	%
Rate of compensation increase	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.00	%	6.50	%	6.50	%

Allocation of Defined Benefit Pension Plans Assets

The allocation of the defined benefit pension plan’s assets at December 31 is as follows (amounts in thousands):


Asset Class	2021		2020
Cash	$	935	$	2,457
Mutual funds		71,551		68,764
Total	$	72,486	$	71,221

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Pension and Postretirement Benefit (Income) Expense


	2021		2020		2019
Interest cost	$	1,715	$	1,969	$	2,713
Expected return on plan assets		(4,253)		(4,101)		(3,849)
Amortization of net actuarial loss		689		1,004		970
Net settlement loss		1,379		1,740		1,904
Total net periodic pension (income) expense	$	(470)	$	612	$	1,738

Expected Future Benefit Payments


2022	$	7,460
2023		4,771
2024		4,709
2025		6,535
2026		5,452
2027 - 2031		26,985

Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity

Summary of Changes in Accumulated Other Comprehensive Loss by Component

Changes in accumulated other comprehensive loss by component consisted of the following (amounts 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)
Gains arising during period		693		—		3,539		4,232
Amounts reclassified from accumulated other comprehensive loss		97		333		(1,905)		(1,475)
Income tax expense		(185)		—		—		(185)
Net other comprehensive income		605		333		1,634		2,572
Transition adjustment related to adoption of ASU 2018-02		(2,707)		—		—		(2,707)
Balance, December 31, 2019	$	(23,916)	$	(5,877)	$	1,634	$	(28,159)
Losses arising during period		(2,901)		—		(39,958)		(42,859)
Amounts reclassified from accumulated other comprehensive loss		194		210		10,505		10,909
Net other comprehensive income (loss)		(2,707)		210		(29,453)		(31,950)
Transition adjustment related to adoption of ASU 2016-13		—		2,158		—		2,158
Balance, December 31, 2020	$	(26,623)	$	(3,509)	$	(27,819)	$	(57,951)
Gains arising during period		10,314		—		1,955		12,269
Amounts reclassified from accumulated other comprehensive loss		(110)		211		16,501		16,602
Net other comprehensive income		10,204		211		18,456		28,871
Balance, December 31, 2021	$	(16,419)	$	(3,298)	$	(9,363)	$	(29,080)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Provision for Income Taxes from Continuing Operations

The income tax provision for continuing operations consists of the following (amounts in thousands):


	2021		2020		2019
CURRENT:
Federal	$	126	$	(101)	$	(120)
State		(1,077)		(457)		(3,941)
Total current provision		(951)		(558)		(4,061)
DEFERRED:
Federal		(3,646)		(13,565)		(13,715)
State		(360)		(12,961)		(699)
Total deferred provision		(4,006)		(26,526)		(14,414)
Total provision for income taxes	$	(4,957)	$	(27,084)	$	(18,475)

Summary of Taxability of Cash Distributions Paid on Common Shares


	2021		2020		2019
Ordinary income	$	—	$	—	$	2.55
Capital gains		—		0.05		0.05
Return of capital		—		1.80		0.88
	$	—	$	1.85	$	3.48

Differences Between the Income Tax Provision Calculated at the Statutory U.S. Federal Income Tax Rate of 35% and the Actual Income Tax Benefit Recorded for Continuing Operations


	2021		2020		2019
Statutory federal income tax (provision) benefit	$	39,868	$	91,085	$	(30,822)
Adjustment for nontaxable income of the REIT		(16,379)		(33,116)		15,803
Adjustment for noncontrolling interest in consolidated joint venture		(1,834)		(5,010)		(662)
State tax (provision) benefit (net of federal taxes)		8,581		5,876		(4,596)
Permanent share-based compensation adjustment		329		(579)		1,257
Other permanent items		(281)		(200)		(377)
Change in federal valuation allowance		(25,698)		(65,368)		556
Change in state valuation allowance (net of federal taxes)		(9,264)		(19,293)		(44)
Other		(279)		(479)		410
	$	(4,957)	$	(27,084)	$	(18,475)

Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands):


	2021		2020
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$	26,340	$	17,545
Defined benefit plan		1,074		3,924
Deferred management rights proceeds		43,009		42,424
Federal and State net operating loss carryforwards		105,484		110,869
Tax credits and other carryforwards		1,484		1,114
Other assets		4,477		5,022
Total deferred tax assets		181,868		180,898
Valuation allowance		(125,387)		(97,700)
Total deferred tax assets, net of valuation allowance		56,481		83,198
DEFERRED TAX LIABILITIES:
Property and equipment, net		57,035		71,940
Investment in joint ventures		101		11,048
Other liabilities		4,016		875
Total deferred tax liabilities		61,152		83,863
Net deferred tax liabilities	$	(4,671)	$	(665)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements

Assets and Liabilities Measured at Fair Value on Recurring Basis

The Company’s assets and liabilities that are required to be measured at fair value on a recurring basis at December 31, were as follows (in thousands):


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	31,183	$	31,183	$	—	$	—
Total assets measured at fair value	$	31,183	$	31,183	$	—	$	—

Variable to fixed interest rate swaps	$	9,362	$	—	$	9,362	$	—
Total liabilities measured at fair value	$	9,362	$	—	$	9,362	$	—


			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2020		(Level 1)		(Level 2)		(Level 3)
Deferred compensation plan investments	$	31,277	$	31,277	$	—	$	—
Total assets measured at fair value	$	31,277	$	31,277	$	—	$	—

Variable to fixed interest rate swaps	$	27,819	$	—	$	27,819	$	—
Total liabilities measured at fair value	$	27,819	$	—	$	27,819	$	—

Financial Reporting By Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

Financial Reporting By Business Segments

Segments' Internal Financial Reports

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


	2021		2020		2019
Revenues:
Hospitality	$	786,583	$	466,045	$	1,421,446
Entertainment		152,790		58,430		183,120
Corporate and Other		—		—		—
Total	$	939,373	$	524,475	$	1,604,566

Depreciation and amortization:
Hospitality	$	203,675	$	198,073	$	201,068
Entertainment		14,655		14,371		11,150
Corporate and Other		2,027		2,638		1,629
Total	$	220,357	$	215,082	$	213,847

Operating income (loss):
Hospitality	$	(38,013)	$	(204,868)	$	263,203
Entertainment		20,382		(34,242)		45,361
Corporate and Other		(40,624)		(31,433)		(37,911)
Preopening costs (1)		(737)		(1,665)		(3,122)
Gain on sale of assets (2)		317		1,161		—
Credit loss on held-to-maturity securities (3)		—		(32,784)		—
Total operating income (loss)		(58,675)		(303,831)		267,531

Interest expense		(125,347)		(115,783)		(131,620)
Interest income		5,685		7,304		11,769
Loss on extinguishment of debt		(2,949)		—		(494)
Loss from unconsolidated joint ventures (4)		(8,963)		(6,451)		(1,110)
Other gains and (losses), net		405		(14,976)		693
Income (loss) before income taxes	$	(189,844)	$	(433,737)	$	146,769

(1)

(2)

Gain on sale of assets for 2021 and 2020 relates to the Hospitality segment.

(3)

Credit loss on held-to-maturity securities for 2020 relates to the Hospitality segment.

(4)

Loss from unconsolidated joint ventures relates to the Entertainment segment.


	December 31,		December 31,
	2021		2020
Identifiable assets:
Hospitality	$	3,266,679	$	3,279,238
Entertainment		214,270		185,178
Corporate and Other		99,576		92,079
Total identifiable assets	$	3,580,525	$	3,556,495

Capital Expenditures for Continuing Operations

The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):


	2021		2020		2019
Hospitality	$	73,199	$	146,654	$	120,899
Entertainment		3,560		13,697		25,000
Corporate and other		667		5,112		6,642
Total capital expenditures	$	77,426	$	165,463	$	152,541

Description of the Business and Summary of Significant Accounting Policies - Ownership in Joint Ventures (Details)	Apr. 30, 2021
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	65.00%

Description of the Business and Summary of Significant Accounting Policies - Joint Venture Interests Acquired - Gaylord Rockies (Details)	1 Months Ended	12 Months Ended
	Apr. 30, 2021 USD ($) a	Dec. 31, 2021 USD ($)
Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member] \| Line of Credit [Member]
Business Combination, Consideration Transferred [Abstract]
Maximum borrowing capacity		$ 700,000,000
Gaylord Rockies [Member]
Business Combination, Consideration Transferred [Abstract]
Equity interest, additional ownership percentage purchased	35.00%
Purchase price	$ 188,000,000.0
Area of land \| a	130
Payment to acquire land	$ 22,000,000.0	$ 22,000,000

Description of the Business and Summary of Significant Accounting Policies - Joint Venture Interests Acquired - Ownership Percentages (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination, Step Acquisition [Abstract]
Impairment charges	$ 0.0	$ 0.0	$ 0.0
Circle [Member]
Business Combination, Description [Abstract]
Ownership percentage	50.00%		50.00%

Description of the Business and Summary of Significant Accounting Policies - Subsidiaries (Details)	Dec. 31, 2021
Business Acquisition [Line Items]
Percentage of owned subsidiaries	100.00%
Ryman Hospitality Properties, Inc [Member]
Business Acquisition [Line Items]
Percentage of outstanding Operating Partnership Units held by the company	99.30%

Description of the Business and Summary of Significant Accounting Policies - Principles of Consolidation (Details) - Gaylord Rockies [Member]	12 Months Ended
	Dec. 31, 2021 item
Schedule of Equity Method Investments [Line Items]
Number of committee members	2
Number of minority partners	2

Description of the Business and Summary of Significant Accounting Policies - Covid 19 (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Apr. 23, 2020	Dec. 31, 2019	Jul. 31, 2019
Debt Instrument [Line Items]
Dividends permitted amount per quarter			$ 0.01
Cash and cash equivalents - unrestricted	$ 140,688,000	$ 56,697,000		$ 362,430,000
$800M Gaylord Rockies Term Loan [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Face amount	800,000,000				$ 800,000,000.0
Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 509,800,000
Sixth Amended And Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Dividends permitted amount per quarter			$ 0.01

Description of the Business and Summary of Significant Accounting Policies - Acquisition (Details) - Block 21 [Member] $ in Millions	1 Months Ended
	Oct. 31, 2021 USD ($) ft² room item	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 260
Liabilities assumed	135
Cash reserves, received	$ 11
Nonrefundable deposit		$ 15
ACL Live at Moody Theater [Member]
Business Acquisition [Line Items]
Seat capacity \| item	2,750
W Austin Hotel [Member]
Business Acquisition [Line Items]
Number of hotel rooms \| room	251
Class A Commercial Space [Member]
Business Acquisition [Line Items]
Net rentable area, commercial space \| ft²	53,000

Description of the Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	40 years
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	20 years
Furniture and Fixtures and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Furniture and Fixtures and Equipment [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	8 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	The shorter of the lease term or useful life

Description of the Business and Summary of Significant Accounting Policies - Cash Paid for Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Paid, Including Capitalized Interest, Operating and Investing Activities [Abstract]
Debt interest paid	$ 113,669	$ 113,743	$ 121,876
Capitalized interest	(2,922)	(3,753)	(1,618)
Cash paid for interest, net of capitalized interest	$ 110,747	$ 109,990	$ 120,258

Description of the Business and Summary of Significant Accounting Policies - Cash Paid for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes Paid, Net [Abstract]
Net cash payments of income taxes	$ 0.5	$ 1.7	$ 3.6

Description of the Business and Summary of Significant Accounting Policies - Prepaid Expense and Other Assets & Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	$ 24,359	$ 19,447
Supplemental deferred compensation plan assets	31,183	31,277
Tax rebate receivables	21,456	27,096
Inventories	8,369	7,157
Deferred financing costs on revolving credit facility	32,203	32,504
Other	27,537	15,517
Total prepaid expenses and other assets	112,904	100,494
Intangible Assets
Gross carrying amount of intangible assets	252,800	252,800
Accumulated amortization of intangible assets	126,000	85,800
Amortization expenses	40,200	40,200	$ 40,200
2022	22,240
2023	4,282
2024	4,044
2025	4,038
2026	4,038
Estimated amount of amortization expenses	$ 38,642
Gaylord Rockies [Member]
Prepaid Expense and Other Assets [Abstract]
Rebates earned			$ 34,600
Gaylord Rockies [Member] \| Advanced Bookings [Member]
Intangible Assets
Useful life (in years)	3 years 6 months
Estimated amount of amortization expenses	$ 125,500
Gaylord Rockies [Member] \| Trade Names [Member]
Intangible Assets
Useful life (in years)	30 years
Estimated amount of amortization expenses	$ 115,300
Gaylord Rockies [Member]
Prepaid Expense and Other Assets [Abstract]
Rebates earned	$ 29,100	$ 41,400
Gaylord Rockies [Member] \| Minimum [Member]
Prepaid Expense and Other Assets [Abstract]
Rebate agreement term	25 years
Gaylord Rockies [Member] \| Maximum
Prepaid Expense and Other Assets [Abstract]
Rebate agreement term	33 years

Description of the Business and Summary of Significant Accounting Policies - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable and Accrued Liabilities [Abstract]
Trade accounts payable	$ 31,725	$ 23,125
Property and other taxes payable	54,991	51,821
Deferred revenues	116,820	70,441
Accrued salaries and benefits	42,472	20,598
Accrued interest payable	20,313	14,263
Other accrued liabilities	38,398	22,873
Total accounts payable and accrued liabilities	$ 304,719	$ 203,121

Description of the Business and Summary of Significant Accounting Policies - Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities [Abstract]
Pension and postretirement benefits liability	$ 20,061	$ 32,686
Deferred compensation liability	31,183	31,277
Derivative liabilities	9,362	27,819
Other	11,333	997
Total other liabilities	$ 71,939	$ 92,779

Description of the Business and Summary of Significant Accounting Policies - Deferred Financing Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Expense, Debt [Abstract]
Amortization of deferred financing costs	$ 8,790	$ 7,948	$ 7,662
Write-off of deferred financing costs		$ 281	$ 3,079

Description of the Business and Summary of Significant Accounting Policies - Noncontrolling Interest (Details) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2021 USD ($)	Dec. 31, 2021 shares	Dec. 31, 2020 USD ($) shares
Schedule of Equity Method Investments [Line Items]
Operating Partnership Units \| shares		400,000
Redemption of Operating Partnership Units into Company's common stock (in shares) \| shares		1
Gaylord Rockies [Member] \| Tax Protection Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Threshold limit for indemnification of tax losses due to sale or disposition		50
Indemnification period (in years)		7 years
Threshold limit for indemnification of tax losses due to failure to comply obligations		100.00%
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	65.00%
Capital contribution \| $	$ 188.0
OP redemption ratio		1
Put Right Holders [Member] \| Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Capital contribution \| $			$ 2.9
Percentage of interest of put right owners			0.50%
Remaining Put Right Holders [Member] \| Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of interest of put right owners			2.40%
Value of warrants or rights exercised \| $			$ 14.0
Operating Partnership Units \| shares			400,000

Description of the Business and Summary of Significant Accounting Policies - Revenues Disaggregated by Major Source (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 939,373	$ 524,475	$ 1,604,566
Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	328,874	171,718	557,562
Hotel Group Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	131,404	88,606	387,741
Hotel Transient Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	197,470	83,112	169,821
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	279,489	187,538	660,770
Hotel Food And Beverage Banquets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	140,186	116,624	453,612
Hotel Food And Beverage Outlets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	139,303	70,914	207,158
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	178,220	106,789	203,114
Entertainment Segment [Member]
Disaggregation of Revenue [Line Items]
Total revenues	152,790	58,430	183,120
Entertainment Admissions And Ticketing [Member]
Disaggregation of Revenue [Line Items]
Total revenues	62,768	16,564	81,434
Entertainment Food And Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	51,515	21,506	63,815
Entertainment Produced Content [Member]
Disaggregation of Revenue [Line Items]
Total revenues	5,919	4,708	3,759
Entertainment Retail And Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 32,588	$ 15,652	$ 34,112

Description of the Business and Summary of Significant Accounting Policies - Revenues Disaggregated by Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 939,373	$ 524,475	$ 1,604,566
Gaylord Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	238,567	133,333	385,610
Gaylord Palms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	139,130	77,819	208,298
Gaylord Texan [Member]
Disaggregation of Revenue [Line Items]
Total revenues	180,031	111,236	292,548
Gaylord National [Member]
Disaggregation of Revenue [Line Items]
Total revenues	79,419	52,026	281,367
Gaylord Rockies [Member]
Disaggregation of Revenue [Line Items]
Total revenues	135,942	84,715	226,576
AC Hotel [Member]
Disaggregation of Revenue [Line Items]
Total revenues	5,838	3,332	11,725
Inn at Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	7,656	3,584	15,322
Hospitality [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 786,583	$ 466,045	$ 1,421,446

Description of the Business and Summary of Significant Accounting Policies - Revenues Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Contract with Customer, Liability [Abstract]
Deferred revenues	$ 70,441	$ 116,820
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 17,300

Description of the Business and Summary of Significant Accounting Policies - Management Fees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Base management fee (as a percent)	2.00%
Total base management fee	$ 17.6	$ 10.3	$ 31.6
Incentive fees	$ 0.3	$ 0.0	$ 12.6
Gaylord Rockies [Member]
Business Acquisition [Line Items]
Base management fee (as a percent)	3.00%

Description of the Business and Summary of Significant Accounting Policies - Advertising Costs, Derivative Financial Instruments and Asset Impairment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Marketing and Advertising Expense [Abstract]
Advertising costs	$ 36.2	$ 23.0	$ 53.2
Asset Impairment Charges [Abstract]
Impairment losses	0.0	$ 0.0	$ 0.0
Interest Expense [Member] \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Estimated reclassification from AOCI to interest expenses	$ (9.1)

Description of the Business and Summary of Significant Accounting Policies - Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net income (loss) available to common shareholders	$ (176,966)	$ (417,391)	$ 145,794
Net income (loss) available to common stockholders - assuming dilution	$ (176,966)	$ (417,391)	$ 145,794
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average shares outstanding - basic (in shares)	55,047	54,962	51,609
Effect of dilutive stock-based compensation (in shares)			169
Effect of dilutive put rights (in shares)			197
Net income (loss) available to common stockholders - assuming dilution (in shares)	55,047	54,962	51,975
Earnings Per Share, Diluted [Abstract]
Net income, per share (in dollars per share)	$ (3.21)	$ (7.59)	$ 2.82
Net income, per share - assuming dilution (in dollars per share)	$ (3.21)	$ (7.59)	$ 2.81
Anti-dilutive securities excluded from EPS computation	200	100

Description of the Business and Summary of Significant Accounting Policies - ASU 2016-02 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets and Liabilities, Lessee [Abstract]
Operating lease liabilities	$ 113,770	$ 107,569

Description of the Business and Summary of Significant Accounting Policies - ASU 2016-03 (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Transition adjustment	$ (1,088,105)	$ (911,092)
Accumulated other comprehensive loss	$ (29,080)	$ (57,951)
Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Transition adjustment			$ (5,300)
Accumulated other comprehensive loss			$ 2,200

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References + Details

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Right-of-use finance lease assets	$ 1,613	$ 1,613
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Property and equipment, gross	$ 4,978,111	$ 4,942,199
Accumulated depreciation	(1,946,267)	(1,824,952)
Property and equipment, net	3,031,844	3,117,247
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	378,598	351,618
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,601,974	3,462,218
Furniture and Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	981,589	960,666
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,337	$ 166,084

Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation, Depletion and Amortization [Abstract]
Depreciation expense, including amortization of assets under finance lease obligations	$ 178.8	$ 173.3	$ 172.2

Property and Equipment - Additional Information (Details)	1 Months Ended
	Jun. 30, 2017 USD ($)
Property and Equipment
Property tax abatement, period	8 years
Amounts in industrial revenue bond exchanged for property tax abatement	$ 650,000,000
Cash exchanged for property tax abatement	$ 0
Industrial revenue bond maturity period	9 years

Notes Receivable - General Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 2008	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2017	Mar. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values		$ 71,228,000	$ 71,923,000
Transition adjustment		(1,088,105,000)	(911,092,000)
Credit loss			32,784,000
Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment					$ (5,300,000)
Bonds A Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Bond issued, face value		$ 95,000,000
Interest rates on bonds (as a percent)		8.00%
Maturity date of notes receivable		Jul. 01, 2034
Effective interest rates on bonds (as a percent)	8.04%
Present value of future debt service payments discounted	$ 93,800,000
Bonds B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Bond issued, face value		$ 50,000,000
Interest rates on bonds (as a percent)		10.00%
Maturity date of notes receivable		Sep. 01, 2037
Effective interest rates on bonds (as a percent)	11.42%
Present value of future debt service payments discounted	$ 38,300,000
Less portion recognized in other comprehensive income				$ 6,500,000
Bonds B Series [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment					$ (5,200,000)
Bonds A and B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values		$ 71,200,000	71,900,000
Credit loss reserve		$ 38,000,000.0	38,000,000.0
Credit loss			$ 38,000,000.0

Notes Receivable - Interest Income and Payment Received (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 5,685	$ 7,304	$ 11,769
Payment received relating to notes receivables	844	2,985	13,211
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	5,500	6,200	10,200
Payment received relating to notes receivables	6,400	8,800	$ 11,300
Bonds A and B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 41,000	$ 40,900

Debt - Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance lease obligations	$ 884	$ 1,095
Unamortized deferred financing costs	(32,203)	(32,504)
Unamortized premium	1,888	2,167
Total debt	2,936,819	2,658,008
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit	190,000	106,000
Secured Debt [Member] \| $300 Million Term Loan A [Member]
Debt Instrument [Line Items]
Secured debt	300,000	300,000
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Secured debt	376,250	381,250
Secured Debt [Member] \| $800M Gaylord Rockies Term Loan [Member]
Debt Instrument [Line Items]
Secured debt	800,000	800,000
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured debt		400,000
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured debt	600,000
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Unsecured debt	$ 700,000	$ 700,000

Debt - Annual Maturities of Long-Term Debt Excluding Capital Lease Obligations (Details) - USD ($)	Dec. 31, 2021	Feb. 17, 2021	Feb. 09, 2021	Dec. 31, 2019	Oct. 31, 2019	Sep. 30, 2019	Jul. 31, 2019	Apr. 15, 2015
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	$ 5,000,000
2023	805,000,000
2024	556,250,000
2025	300,000,000
Years thereafter	1,300,000,000
Total	2,966,250,000
$500M Construction Loan (Gaylord Rockies JV) [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Face amount				$ 500,000,000			$ 500,000,000
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Face amount				$ 39,000,000			39,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2024	190,000,000
Total	190,000,000
Secured Debt [Member] \| $300 Million Term Loan A [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	300,000,000
Total	300,000,000
Face amount	300,000,000
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	5,000,000
2023	5,000,000
2024	366,250,000
Total	376,250,000
Face amount	500,000,000
Secured Debt [Member] \| $800M Gaylord Rockies Term Loan [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2023	800,000,000
Total	800,000,000
Face amount	800,000,000						$ 800,000,000.0
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Face amount	400,000,000	$ 400,000,000	$ 400,000,000					$ 400,000,000.0
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Years thereafter	600,000,000
Total	600,000,000
Face amount	600,000,000	$ 600,000,000.0
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Years thereafter	700,000,000
Total	700,000,000
Face amount	$ 700,000,000				$ 700,000,000	$ 700,000,000

Debt - Summary of Debt and Capital Lease Obligations - General Information (Details) - USD ($)				1 Months Ended	12 Months Ended
	Apr. 01, 2021	Feb. 17, 2021	May 11, 2017	Jul. 31, 2019	Dec. 31, 2021	Feb. 09, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 31, 2019	Oct. 30, 2019	Sep. 30, 2019	Apr. 15, 2015	Apr. 03, 2013
Debt Instrument [Line Items]
Unamortized premium					$ 1,888,000		$ 2,167,000
$800M Gaylord Rockies Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date				Jul. 02, 2023
$800M Gaylord Rockies Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)				2.50%
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount				$ 500,000,000				$ 500,000,000
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount				39,000,000				$ 39,000,000
Sixth Amended And Restated Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Minimum liquidity maintenance										$ 100,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 700,000,000
Credit facility, maturity date					Mar. 31, 2024
Outstanding borrowing					$ 190,000,000		$ 106,000,000
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)	2.25%
Secured Debt [Member] \| $300 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount					$ 300,000,000
Debt instrument, maturity date					Mar. 31, 2025
Secured Debt [Member] \| $300 Million Term Loan A [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.25%
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount					$ 500,000,000
Debt instrument, maturity date					May 11, 2024
Percentage of amortization of original principal balance (as a percent)					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%		2.00%
Secured Debt [Member] \| $800M Gaylord Rockies Term Loan [Member]
Debt Instrument [Line Items]
Face amount				$ 800,000,000.0	$ 800,000,000
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount					$ 350,000,000						$ 350,000,000		$ 350,000,000.0
Stated interest rate (as a percent)					5.00%						5.00%		5.00%
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 400,000,000			$ 400,000,000	$ 400,000,000						$ 400,000,000.0
Stated interest rate (as a percent)		5.00%			5.00%	5.00%						5.00%
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 600,000,000.0			$ 600,000,000
Stated interest rate (as a percent)		4.50%			4.50%
Debt instrument, maturity date		Feb. 15, 2029
Long-term debt					$ 590,600,000
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Face amount					$ 700,000,000				$ 700,000,000		$ 700,000,000
Stated interest rate (as a percent)					4.75%				4.75%		4.75%
Long-term debt					$ 692,600,000

Debt - Credit Facility (Details)	12 Months Ended
Debt - Credit Facility (Details)	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)	Oct. 31, 2021 USD ($)	Oct. 31, 2019 USD ($)	Oct. 30, 2019 USD ($)
Debt Instrument [Line Items]
Write-off of deferred financing costs		$ 281,000	$ 3,079,000
Number of amendments to credit agreement \| item		2
Percentage of advance borrowing based on appraisal value of hotel properties (as a percent)	55.00%
Percentage of advance borrowing based on appraisal value of hotel properties in the event of hotel property sold (as a percent)	50.00%
Number of wholly-owned hotel properties sold \| property	1
Revolving Credit Facility [Member] \| Sixth Amended And Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Accordion feature allowing potential increase to credit facility					$ 600,000,000
Minimum liquidity maintenance						$ 100,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| $700 Million Revolving Credit Facility [Member] \| Maximum
Debt Instrument [Line Items]
Maximum borrowing capacity under restricted period				$ 400,000,000.0
Secured Debt [Member] \| $300 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount	300,000,000
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 500,000,000
Financial Standby Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 50,000,000.0

Debt - $700 Million Revolving Credit Facility (Details) - Line of Credit [Member] - $700 Million Revolving Credit Facility [Member] - Revolving Credit Facility [Member] - USD ($)		12 Months Ended
	Apr. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 700,000,000
Credit facility, maturity date		Mar. 31, 2024
Outstanding borrowing		$ 190,000,000	$ 106,000,000
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Spread rate (as a percent)	2.25%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Spread rate (as a percent)		1.40%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum
Line of Credit Facility [Line Items]
Spread rate (as a percent)		1.95%

Debt - $300 Million Term Loan A (Details) - Secured Debt [Member] - $300 Million Term Loan A [Member] - USD ($)		12 Months Ended
	Apr. 01, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Face amount		$ 300,000,000
Debt instrument, maturity date		Mar. 31, 2025
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.25%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.35%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum
Debt Instrument [Line Items]
Spread rate (as a percent)		1.90%

Debt - $500 Million Term Loan B (Details)		12 Months Ended
Debt - $500 Million Term Loan B (Details)	May 11, 2017	Dec. 31, 2021 USD ($) derivative	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 31, 2019 USD ($)
Debt Instrument [Line Items]
Write-off of deferred financing costs			$ 281,000	$ 3,079,000
Interest rate swaps
Debt Instrument [Line Items]
Number of interest rate derivatives \| derivative		4
Secured Debt [Member] \| $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000
Debt instrument, maturity date		May 11, 2024
Percentage of amortization of original principal balance (as a percent)		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%	2.00%
Notional amount					$ 350,000,000.0
Secured Debt [Member] \| $500 Million Term Loan B [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member] \| Interest rate swaps \| Derivatives designated as hedging instruments
Debt Instrument [Line Items]
Interest rate (as a percent)					1.2235%
Secured Debt [Member] \| $500 Million Term Loan B [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum \| Interest rate swaps \| Derivatives designated as hedging instruments
Debt Instrument [Line Items]
Interest rate (as a percent)					1.2315%

Debt - $350 Million 5% Senior Notes (Details) - USD ($)	1 Months Ended		12 Months Ended
Debt - $350 Million 5% Senior Notes (Details) - USD ($)	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Apr. 03, 2013
Debt Instrument [Line Items]
Loss from extinguishment of debt			$ (2,949,000)		$ (494,000)
Unamortized deferred financing costs				$ 281,000	3,079,000
Senior Notes [Member] \| $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 350,000,000	$ 350,000,000			$ 350,000,000.0
Stated interest rate (as a percent)		5.00%	5.00%			5.00%
Loss from extinguishment of debt					(500,000)
Unamortized deferred financing costs					$ 1,700,000
Senior Notes [Member] \| $500 Million 4.75% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 500,000,000	$ 500,000,000.0
Stated interest rate (as a percent)	4.75%	4.75%
Debt instrument, maturity date		Oct. 15, 2027
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000	$ 700,000,000
Stated interest rate (as a percent)	4.75%	4.75%	4.75%
Redemption price (as a percent)	100.00%
Redemption date	Oct. 15, 2022
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member] \| Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	103.563%
Senior Notes [Member] \| $700 Million 4.75% Senior Note [Member] \| Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	102.375%

Debt - $400 Million 5% Senior Notes (Details) - USD ($)			12 Months Ended
Debt - $400 Million 5% Senior Notes (Details) - USD ($)	Feb. 17, 2021	Feb. 09, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Apr. 15, 2015
Debt Instrument [Line Items]
Loss from extinguishment of debt			$ (2,949,000)		$ (494,000)
Write-off of deferred financing costs				$ 281,000	$ 3,079,000
Senior Notes [Member] \| $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 400,000,000	$ 400,000,000	$ 400,000,000			$ 400,000,000.0
Stated interest rate (as a percent)	5.00%	5.00%	5.00%			5.00%
Redemption price of per thousand		$ 1,005.00
Aggregate tendered amount		$ 161,900,000
Loss from extinguishment of debt			$ (2,900,000)
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 600,000,000.0		$ 600,000,000
Stated interest rate (as a percent)	4.50%		4.50%
Redemption price (as a percent)	100.00%
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member] \| Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	102.25%
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member] \| Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	101.50%
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member] \| Redemption Period Three [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.75%
Senior Notes [Member] \| $600 Million 4.50% Senior Notes [Member] \| Redemption Period Four [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%

Debt - $600 Million 4.50% Senior Notes (Details) - Senior Notes [Member] - USD ($)		1 Months Ended
	Feb. 17, 2021	Oct. 31, 2019	Dec. 31, 2021	Feb. 09, 2021	Sep. 30, 2019	Apr. 15, 2015
$400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 400,000,000		$ 400,000,000	$ 400,000,000		$ 400,000,000.0
Stated interest rate (as a percent)	5.00%		5.00%	5.00%		5.00%
$600 Million 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 600,000,000.0		$ 600,000,000
Debt instrument, maturity date	Feb. 15, 2029
Stated interest rate (as a percent)	4.50%		4.50%
Redemption price (as a percent)	100.00%
Proceeds from Issuance of Debt	$ 591,000,000
$600 Million 4.50% Senior Notes [Member] \| Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	102.25%
$600 Million 4.50% Senior Notes [Member] \| Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	101.50%
$600 Million 4.50% Senior Notes [Member] \| Redemption Period Three [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.75%
$600 Million 4.50% Senior Notes [Member] \| Redemption Period Four [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%
$700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Face amount		$ 700,000,000	$ 700,000,000		$ 700,000,000
Stated interest rate (as a percent)		4.75%	4.75%		4.75%
Redemption price (as a percent)		100.00%
Redemption date		Oct. 15, 2022
$700 Million 4.75% Senior Note [Member] \| Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)		103.563%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)		102.375%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Three [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)		101.188%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Four [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)		100.00%

Debt - $700 Million 4.75% Senior Notes (Details) - Senior Notes [Member] - USD ($)	1 Months Ended
	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2021	Apr. 03, 2013
$350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 350,000,000	$ 350,000,000	$ 350,000,000.0
Stated interest rate (as a percent)		5.00%	5.00%	5.00%
$200 Million 4.75% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 200,000,000.0
Stated interest rate (as a percent)	4.75%
Net proceeds	$ 199,000,000
Issue price percentage	101.25%
$500 Million 4.75% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 500,000,000	$ 500,000,000.0
Debt instrument, maturity date		Oct. 15, 2027
Stated interest rate (as a percent)	4.75%	4.75%
Net proceeds		$ 493,000,000
$700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000	$ 700,000,000
Stated interest rate (as a percent)	4.75%	4.75%	4.75%
Redemption date	Oct. 15, 2022
Redemption price (as a percent)	100.00%
$700 Million 4.75% Senior Note [Member] \| Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	103.563%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	102.375%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Three [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	101.188%
$700 Million 4.75% Senior Note [Member] \| Redemption Period Four [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%

Debt - $800 Million Gaylord Rockies Term Loan (Details)		1 Months Ended	12 Months Ended
Debt - $800 Million Gaylord Rockies Term Loan (Details)	Jul. 02, 2019	Jul. 31, 2019 USD ($) item	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Write-off of deferred financing costs			$ 281,000	$ 3,079,000
Gaylord Rockies [Member]
Debt Instrument [Line Items]
Distribution from consolidated joint venture				95,000,000
Distribution received				153,000,000
$800M Gaylord Rockies Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		Jul. 02, 2023
Number Of Options \| item		3
Extended term		1 year
$800M Gaylord Rockies Term Loan [Member] \| Interest rate swaps
Debt Instrument [Line Items]
Interest rate swap period		3 years
$800M Gaylord Rockies Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		2.50%
Interest rate (as a percent)		1.65%
$800M Gaylord Rockies Term Loan [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Face amount		$ 800,000,000.0			$ 800,000,000
$800M Gaylord Rockies Term Loan [Member] \| Gaylord Rockies [Member]
Debt Instrument [Line Items]
Percentage of guarantee repayment of principal debt	10.00%
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount		39,000,000		$ 39,000,000
$80M Additional Facility Gaylord Rockies J V [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Face amount		$ 80,000,000.0

Debt - $500 Million Construction Loan (Gaylord Rockies JV (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jul. 31, 2019
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount	$ 500	$ 500

Debt - $39 Million Mezzanine Loan (Gaylord Rockies JV) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jul. 31, 2019
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount	$ 39	$ 39

Debt - Derivative Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	$ 1,955,000	$ (39,958,000)	$ 3,539,000
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	(16,501,000)	(10,505,000)	1,905,000
Interest expense	125,347,000	115,783,000	$ 131,620,000
Derivatives in Cash Flow Hedging \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Estimated reclassification from AOCI to interest expenses	(9,100,000)
Amount of Gain (Loss) Recognized in OCI on Derivative	1,955,000	(39,958,000)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	(16,501,000)	(10,505,000)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative liability	10,500,000
Termination value in case of breach of provisions	10,500,000
Interest rate swaps \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Estimated Fair Value Asset (Liability) Balance	$ (9,362,000)	(27,819,000)
Gaylord Rockies [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	Aug. 01, 2022
Gaylord Rockies [Member] \| Interest rate swaps \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.65%
Notional amount	$ 800,000,000
Estimated Fair Value Asset (Liability) Balance	$ (6,421,000)	(18,979,000)
Term Loan B \| Derivative Instrument One Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B \| Derivative Instrument Two Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B \| Derivative Instrument Three Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B \| Derivative Instrument Four Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B \| Interest rate swaps \| Derivative Instrument One Term Loan B Maturing on May 11, 2023 [Member] \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (733,000)	(2,206,000)
Term Loan B \| Interest rate swaps \| Derivative Instrument Two Term Loan B Maturing on May 11, 2023 [Member] \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (733,000)	(2,206,000)
Term Loan B \| Interest rate swaps \| Derivative Instrument Three Term Loan B Maturing on May 11, 2023 [Member] \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (733,000)	(2,206,000)
Term Loan B \| Interest rate swaps \| Derivative Instrument Four Term Loan B Maturing on May 11, 2023 [Member] \| Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2315%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	(742,000)	$ (2,222,000)
$500 Million Term Loan B [Member] \| Secured Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face amount	500,000,000
$800M Gaylord Rockies Term Loan [Member] \| Secured Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face amount	$ 800,000,000			$ 800,000,000.0

Deferred Management Rights Proceeds (Details) - USD ($) $ in Millions			12 Months Ended
	Dec. 31, 2018	Oct. 01, 2012	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Sales price of management rights and intellectual property		$ 210.0
Purchase price allocated to the management rights		$ 190.0
Term of management rights for income amortization			65 years
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Sales price of management rights and intellectual property	$ 4.9
Term of management rights for income amortization				70 years

Leases (Details) $ in Millions	12 Months Ended
Leases (Details) $ in Millions	Dec. 31, 2021 USD ($) a	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Ole Red [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	5 years
Operating lease, renewal term	5 years
Ole Red [Member] \| Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	10 years
Operating lease, renewal term	55 years
Land in Osceola County, Florida [Member]
Lessee, Lease, Description [Line Items]
Area of leased property \| a	65.3
Lease expiration year	2074
Expiration date of lease under extension	Jan. 31, 2101
Contingent rental expense \| $	$ 1.8	$ 0.7	$ 2.5

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases
Operating lease cost	$ 13,199	$ 12,016	$ 13,877
Finance lease cost:
Amortization of right-of-use assets	146	149	157
Interest on lease liabilities	39	48	63
Net lease cost	$ 13,384	$ 12,213	$ 14,097

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Liabilities, Payments Due [Abstract]
Year 1	$ 6,575
Year 2	6,775
Year 3	6,555
Year 4	6,602
Year 5	6,792
Years thereafter	565,152
Total future minimum lease payments	598,451
Less amount representing interest	(484,681)
Total present value of minimum payments	113,770	$ 107,569
Finance Lease Liabilities, Payments, Due [Abstract]
Year 1	234
Year 2	199
Year 3	46
Year 4	46
Year 5	46
Years thereafter	520
Total future minimum lease payments	1,091
Less amount representing interest	(207)
Total present value of minimum payments	$ 884	$ 1,095
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Debt and Capital Lease Obligations	Debt and Capital Lease Obligations

Leases - Discount Rate (Details)	Dec. 31, 2021
Weighted-average remaining lease term (years):
Operating leases	48 years 1 month 6 days
Finance leases	10 years 7 months 6 days
Operating leases	6.80%
Finance leases	4.00%

Stock Plans - Common Stock Available for Issuance (Details) shares in Millions	Dec. 31, 2021 shares
Stock Plans
Maximum grant of stock options, restricted stock, and restricted stock units to directors and employees	0.8

Stock Plans - Restricted Stock Units - Vesting (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	1 year
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	4 years

Stock Plans - Restricted Stock Units - Weighted-Average Grant Date Fair Value of Units Granted (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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)	336,199
Weighted-average grant-date fair value of restricted stock awards granted (in dollars per share)	$ 73.96	$ 84.26	$ 89.29
Restricted stock award, outstanding (in shares)	561,216	359,903

Stock Plans - Restricted Stock Units - Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares, beginning balance (in shares)	359,903
Granted (in shares)	336,199
Vested (in shares)	(127,419)
Canceled (in shares)	(7,467)
Nonvested shares, ending balance (in shares)	561,216	359,903
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares, weighted-average grant-date fair value (in dollars per share)	$ 78.41
Granted (in dollars per share)	73.96	$ 84.26	$ 89.29
Vested (in dollars per share)	68.36
Canceled (in dollars per share)	80.20
Nonvested shares, weighted-average grant-date fair value (in dollars per share)	$ 78.02	$ 78.41

Stock Plans - Restricted Stock Units - Fair Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Fair value of restricted stock awards vested	$ 10.6	$ 4.9	$ 12.7

Stock Plans - Restricted Stock Units - Unrecognized Compensation Cost (Details) - Restricted Stock Units (RSUs) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized [Abstract]
Unrecognized compensation cost	$ 26.4
Weighted-average period to recognize compensation cost	2 years 3 months 18 days

Stock Plans - Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Plans
Compensation cost on stock-based compensation plans	$ 12.1	$ 8.7	$ 7.8

Stock Plans - Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Tax benefit recognized from all stock-based employee compensation plans	$ 2.9	$ 2.1	$ 1.8

Stock Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Plans
Employee service share-based compensation tax benefit (expense) realized from share-based compensation plans	$ 0.4	$ (0.7)	$ 1.5

Pension Plans - Qualified Plan - General Information (Details) - Pension Plan [Member] - Qualified Plan [Member]	12 Months Ended
	Dec. 31, 2021 age
Defined Benefit Plan Disclosure [Line Items]
Rate of qualified earnings credited to the account of the participant of benefit plan	3.00%
Retirement age benefit payable to a terminated vested participant upon retirement	65
Retirement age for benefit payments, earliest age allowed contingent of minimum service requirement	55
Number of years of service at the time plan was frozen for the eligibility of benefit payable to terminated vested participant at age 55	15 years
Defined benefit plan, funding status	us-gaap:UnderfundedPlanMember

- Definition

Indicates status of funding for defined benefit plan designed to provide retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
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+ Details

Pension Plans - Qualified Plan - Net Settlement Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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	$ 1,379	$ 1,740	$ 1,904

Pension Plans - Qualified Plan - Change in Benefit Obligation (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 86,748	$ 82,518
Interest cost	1,715	1,969	$ 2,713
Actuarial (gain) loss	(4,547)	8,568
Benefits paid	(7,236)	(6,307)
Benefit obligation at end of year	$ 76,680	$ 86,748	$ 82,518

Pension Plans - Qualified Plan - Change in Plan Assets (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 71,221	$ 66,000
Actual return on plan assets	8,202	9,801
Employer contributions	299	1,727
Benefits paid	(7,236)	(6,307)
Fair value of plan assets at end of year	72,486	71,221
Funded status and accrued pension cost	$ (4,194)	$ (15,527)

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Pension Plans - Qualified Plan - Net Periodic Pension (Income) Expense (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 1,715	$ 1,969	$ 2,713
Expected return on plan assets	(4,253)	(4,101)	(3,849)
Recognized net actuarial loss	689	1,004	970
Net settlement loss	1,379	1,740	1,904
Total net periodic pension expense	$ (470)	$ 612	$ 1,738

Pension Plans - Qualified Plan - Weighted-Average Assumptions Used to Determine Benefit Obligation (Details) - Pension Plan [Member] - Qualified Plan [Member]	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)	2.42%	1.95%	2.85%
Rate of compensation increase (as a percent)	0.00%	0.00%	0.00%

Pension Plans - Qualified Plan - Weighted-Average Assumptions Used in Determining Net Periodic Pension Expense (Details) - Pension Plan [Member] - Qualified Plan [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	2.13%	2.40%	3.51%
Rate of compensation increase	0.00%	0.00%	0.00%
Expected long-term rate of return on plan assets	6.00%	6.50%	6.50%

Pension Plans - Qualified Plan - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021
Pension Plans
Minimum time period for expected rate of return	10 years
Maximum time period for expected rate of return	20 years

Pension Plans - Qualified Plan - Allocation of Defined Benefit Pension Plans Assets (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	$ 72,486	$ 71,221	$ 66,000
Defined Benefit Plan, Cash [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	935	2,457
Mutual Funds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	$ 71,551	$ 68,764

- Definition

+ References + Details

Pension Plans - Qualified Plan - Expected Future Benefit Payments (Details) - Pension Plan [Member] - Qualified Plan [Member] $ in Thousands	Dec. 31, 2021 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2022	$ 7,460
2023	4,771
2024	4,709
2025	6,535
2026	5,452
2027 - 2031	$ 26,985

Pension Plans - Non-Qualified Plans (Details) - Nonqualified Plan [Member] $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, type	us-gaap:PensionPlansDefinedBenefitMember
Defined benefit plan, funding status	us-gaap:UnfundedPlanMember
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Plan with projected benefit obligation in excess of plan assets, accumulated benefit obligation	$ 14.2
Plan with projected benefit obligation in excess of plan assets, projected benefit obligation	$ 14.2

- Definition

Indicates status of funding for defined benefit plan designed to provide retirement benefits.

+ References

+ Details

- Definition

Indicates type of defined benefit plan. Includes, but is not limited to, pension plan, other postretirement plan and special and contractual termination benefits payable upon retirement.

+ References

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+ Details

Pension Plans - Qualified and Non-Qualified Plans - Accrued Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Liability, Defined Benefit Plan [Abstract]
Pension and postretirement benefits liability	$ 20,061	$ 32,686
Pension Plan [Member]
Liability, Defined Benefit Plan [Abstract]
Pension and postretirement benefits liability	$ 18,400	$ 30,800

Pension Plans - Qualified and Non-Qualified Plans - Adjustments to Equity (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Change in equity as a result of change in deferred net loss	$ 9.9	$ (2.3)	$ 2.1
Change in equity as result of change in deferred net loss taxes	$ 0.0	$ 0.0	$ 0.5

Pension Plans - Qualified and Non-Qualified Plans - Amounts Recognized in Other Comprehensive Income (Details) - Pension Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax [Abstract]
Net gain (loss) recognized in other comprehensive income	$ 9.9	$ (2.3)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss, net of tax	19.3	30.7
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss	$ 26.1	$ 37.4

Equity - Equity Offering (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Equity
Shares issued	3.5
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Share price (in dollars per share)	$ 85.60
Other expenses	$ 282,908

Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Apr. 23, 2020
Subsidiary or Equity Method Investee [Line Items]
Aggregated dividend paid		$ 52.2	$ 188.3
Dividends permitted amount per quarter				$ 0.01
Minimum percentage of adjusted funds from operations as cash dividend (as a percent)	50.00%
Percentage of REIT taxable income as cash dividend (as a percent)	100.00%
Conversion of outstanding Operating Partnership Units into the Company's common stock ( in shares)	1
Outstanding Operating Partnership Units	400,000
Noncontrolling Limited Partners [Member]
Subsidiary or Equity Method Investee [Line Items]
Percentage of outstanding Operating Partnership Units held by the noncontrolling limited partners	1.00%
Ryman Hospitality Properties, Inc [Member]
Subsidiary or Equity Method Investee [Line Items]
Percentage of outstanding Operating Partnership Units held by the company	99.30%
Sixth Amended And Restated Credit Agreement [Member]
Subsidiary or Equity Method Investee [Line Items]
Dividends permitted amount per quarter				$ 0.01

Equity - ATM Equity Distribution Agreement (Details) - shares		12 Months Ended
	May 27, 2021	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)		400,000,000		400,000,000
Shares issued			3,500,000
At-the-Market Equity Distribution Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Maximum commission percent of gross sales	2.00%
Shares issued		0
At-the-Market Equity Distribution Agreement [Member] \| Maximum
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)	4,000,000.0

Equity - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 205,301
Income tax expense			$ (185)
Net other comprehensive income (loss)	28,871	$ (31,950)	2,572
Transition adjustment related to adoption	(22,393)	219,817	644,729	$ 469,577
Ending balance	(22,234)	205,301
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(57,951)	(28,159)	(28,024)
Gains arising during period	12,269	(42,859)	4,232
Amounts reclassified from accumulated other comprehensive loss	16,602	10,909	(1,475)
Income tax expense			(185)
Net other comprehensive income (loss)	28,871	(31,950)	2,572
Transition adjustment related to adoption	(29,080)	(57,951)	(28,159)	$ (28,024)
Ending balance	(29,080)	(57,951)	(28,159)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(26,623)	(23,916)	(21,814)
Gains arising during period	10,314	(2,901)	693
Amounts reclassified from accumulated other comprehensive loss	(110)	194	97
Income tax expense			(185)
Net other comprehensive income (loss)	10,204	(2,707)	605
Ending balance	(16,419)	(26,623)	(23,916)
Accumulated Other-than-Temporary Impairment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3,509)	(5,877)	(6,210)
Amounts reclassified from accumulated other comprehensive loss	211	210	333
Net other comprehensive income (loss)	211	210	333
Ending balance	(3,298)	(3,509)	(5,877)
Interest Rate Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(27,819)	1,634
Gains arising during period	1,955	(39,958)	3,539
Amounts reclassified from accumulated other comprehensive loss	16,501	10,505	(1,905)
Net other comprehensive income (loss)	18,456	(29,453)	1,634
Ending balance	$ (9,363)	(27,819)	1,634
Cumulative Effect, Period of Adoption, Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption		(3,185)
Cumulative Effect, Period of Adoption, Adjustment [Member] \| AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption		2,158	(2,707)
ASU 2018-02 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption			(2,707)
ASU 2018-02 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption			$ (2,707)
ASU 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption		2,158
ASU 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Accumulated Other-than-Temporary Impairment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Transition adjustment related to adoption		$ 2,158

Income Taxes - (Provision) Benefit for Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CURRENT:
Federal		$ 126	$ (101)	$ (120)
State		(1,077)	(457)	(3,941)
Total current provision		(951)	(558)	(4,061)
DEFERRED:
Federal		(3,646)	(13,565)	(13,715)
State		(360)	(12,961)	(699)
Total deferred (provision) benefit		(4,006)	(26,526)	(14,414)
Total (provision) benefit for income taxes		(4,957)	(27,084)	$ (18,475)
Valuation allowance		$ 125,387	$ 97,700
Valuation allowance	$ 26,700

Income Taxes - Tax Rate (Details)	36 Months Ended
Income Taxes - Tax Rate (Details)	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Corporate income tax rate (as a percent)	21.00%

Income Taxes - Taxability of Cash Distributions Paid on Common Shares (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Ordinary income		$ 2.55
Capital gains	$ 0.05	0.05
Return of capital	1.80	0.88
Total	$ 1.85	$ 3.48

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Corporate income tax rate (as a percent)				21.00%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision	$ 39,868	$ 91,085	$ (30,822)
Adjustment for nontaxable income of the REIT	(16,379)	(33,116)	15,803
Adjustment for noncontrolling interest in consolidated joint venture	(1,834)	(5,010)	(662)
State tax (provision) benefit (net of federal taxes)	8,581	5,876	(4,596)
Permanent share-based compensation adjustment	329	(579)	1,257
Other permanent items	(281)	(200)	(377)
Other	(279)	(479)	410
Total (provision) benefit for income taxes	(4,957)	(27,084)	(18,475)
Domestic Tax Authority [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowance	(25,698)	(65,368)	556
State and Local Jurisdiction [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowance	$ (9,264)	$ (19,293)	$ (44)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$ 26,340	$ 17,545
Defined benefit plan	1,074	3,924
Deferred management rights proceeds	43,009	42,424
Federal and State net operating loss carryforwards	105,484	110,869
Tax credits and other carryforwards	1,484	1,114
Other assets	4,477	5,022
Total deferred tax assets	181,868	180,898
Valuation allowance	(125,387)	(97,700)
Total deferred tax assets, net of valuation allowance	56,481	83,198
DEFERRED TAX LIABILITIES:
Property and equipment, net	57,035	71,940
Investment in joint ventures	101	11,048
Other liabilities	4,016	875
Total deferred tax liabilities	61,152	83,863
Net deferred tax liabilities	$ (4,671)	$ (665)

Income Taxes - Net Operating Loss Carryforwards (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Operating Loss Carryforwards [Line Items]
State net operating loss carryforward, deferred tax benefit	$ 28.4
TRS federal net operating loss carryforwards	$ 40.3
Percentage of taxable income	100.00%
Operating loss carryforwards not subject to expiration	$ 326.9
Percentage of taxable income not subject to expiration	80.00%
TRS [Member]
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforward, deferred tax benefit	$ 77.1
REIT [Member]
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforward, deferred tax benefit	0.0
Domestic Tax Authority [Member] \| TRS [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	367.2
Domestic Tax Authority [Member] \| REIT [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 88.4
Domestic Tax Authority [Member] \| Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2033
Domestic Tax Authority [Member] \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2037
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 597.4
State and Local Jurisdiction [Member] \| Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2024
State and Local Jurisdiction [Member] \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2037

Income Taxes - Tax Credit Carryforwards (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Tax credits and other carryforwards, deferred tax benefit	$ 1,484	$ 1,114

Income Taxes - Change in Valuation Allowance (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance	$ 26,700
Domestic Tax Authority [Member]
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance		$ 23,000	$ 65,900	$ (500)
Change in valuation allowance		(25,698)	(65,368)	556
State and Local Jurisdiction [Member]
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance		4,700	19,400	(1,300)
Change in valuation allowance		$ (9,264)	$ (19,293)	$ (44)

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Unrecognized tax benefits	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Income tax penalties accrued related to uncertain tax positions	0	$ 0
Interest on income taxes accrued related to uncertain tax positions	$ 0	$ 0

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Operating Partnership Units		400,000
Redemption of Operating Partnership Units into Company's common stock (in shares)		1
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	65.00%
Capital contribution	$ 188.0
Gaylord Rockies [Member] \| Put Right Holders [Member]
Schedule of Equity Method Investments [Line Items]
Capital contribution			$ 2.9
Percentage of interest of put right owners			0.50%
Gaylord Rockies [Member] \| Remaining Put Right Holders [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of interest of put right owners			2.40%
Value of warrants or rights exercised			$ 14.0
Operating Partnership Units			400,000
New Country Ventures [Member] \| Maximum
Schedule of Equity Method Investments [Line Items]
Additional possible contribution		$ 12.0
Circle [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)		50.00%		50.00%
Capital contribution		$ 21.0

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	$ 9,362	$ 27,819
Deferred compensation plan investments	31,183	31,277
Total assets measured at fair value	31,183	31,277
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	9,362	27,819
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	9,362	27,819
Fair Value, Inputs, Level 2 [Member] \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	9,362	27,819
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	31,183	31,277
Total assets measured at fair value	$ 31,183	$ 31,277

Fair Value Measurements - Narrative (Details) - Senior Notes [Member] - USD ($)	Dec. 31, 2021	Feb. 17, 2021	Feb. 09, 2021	Oct. 31, 2019	Sep. 30, 2019	Apr. 15, 2015
$400 Million 5% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 400,000,000	$ 400,000,000	$ 400,000,000			$ 400,000,000.0
Stated interest rate (as a percent)	5.00%	5.00%	5.00%			5.00%
$600 Million 4.50% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 600,000,000	$ 600,000,000.0
Stated interest rate (as a percent)	4.50%	4.50%
Debt amount	$ 590,600,000
Fair value of notes	598,700,000
$700 Million 4.75% Senior Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 700,000,000			$ 700,000,000	$ 700,000,000
Stated interest rate (as a percent)	4.75%			4.75%	4.75%
Debt amount	$ 692,600,000
Fair value of notes	$ 722,300,000

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Financial Reporting By Business Segments - General Information (Details) - segment	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of business segments	3	3	3

Financial Reporting By Business Segments - Internal Financial Reports (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	$ 939,373	$ 524,475	$ 1,604,566
Depreciation and amortization	220,357	215,082	213,847
Preopening costs	(737)	(1,665)	(3,122)
Gain on sale of assets	317	1,161
Credit loss on held-to-maturity securities		(32,784)
Operating income (loss)	(58,675)	(303,831)	267,531
Interest expense	(125,347)	(115,783)	(131,620)
Interest income	5,685	7,304	11,769
Loss on extinguishment of debt	2,949		494
Loss from unconsolidated joint ventures	(8,963)	(6,451)	(1,110)
Other gains and (losses), net	405	(14,976)	693
Loss before income taxes	(189,844)	(433,737)	146,769
Hospitality [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	786,583	466,045	1,421,446
Depreciation and amortization	203,675	198,073	201,068
Preopening costs		(300)	(1,300)
Operating income (loss)	(38,013)	(204,868)	263,203
Entertainment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	152,790	58,430	183,120
Depreciation and amortization	14,655	14,371	11,150
Preopening costs		(1,400)	(1,900)
Operating income (loss)	20,382	(34,242)	45,361
Corporate and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Depreciation and amortization	2,027	2,638	1,629
Operating income (loss)	(40,624)	(31,433)	(37,911)
Notes Receivable [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Interest income	$ 5,500	$ 6,200	$ 10,200

Financial Reporting By Business Segments - Identifiable Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Preopening costs	$ 737	$ 1,665	$ 3,122
Identifiable assets	3,580,525	3,556,495
Hospitality [Member]
Segment Reporting Information [Line Items]
Preopening costs		300	1,300
Identifiable assets	3,266,679	3,279,238
Entertainment [Member]
Segment Reporting Information [Line Items]
Preopening costs		1,400	$ 1,900
Identifiable assets	214,270	185,178
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Identifiable assets	$ 99,576	$ 92,079

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Financial Reporting By Business Segments - Capital Expenditures for Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	$ 77,426	$ 165,463	$ 152,541
Hospitality [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	73,199	146,654	120,899
Entertainment [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	3,560	13,697	25,000
Corporate and Other [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	$ 667	$ 5,112	$ 6,642

Subsequent Events (Details) - Block 21 [Member] $ in Millions	1 Months Ended
	Oct. 31, 2021 USD ($) ft² room item
Subsequent Event [Line Items]
Purchase price	$ 260
Liabilities assumed	135
Cash reserves, received	$ 11
W Austin Hotel [Member]
Subsequent Event [Line Items]
Number of hotel rooms \| room	251
Class A Commercial Space [Member]
Subsequent Event [Line Items]
Net rentable area, commercial space \| ft²	53,000
ACL Live at Moody Theater [Member]
Subsequent Event [Line Items]
Seat capacity \| item	2,750

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Credit loss reserve on notes receivable
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS [Line items]
Balance at Beginning of Year	$ 37,962
Additions Charged to Expenses/Other Accounts		$ 37,962
Balance at End of Year	37,962	37,962
Valuation allowance for deferred tax assets
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS [Line items]
Balance at Beginning of Year	97,700	12,387	$ 14,210
Additions Charged to Expenses/Other Accounts	27,687	85,313
Net (Deductions) Recoveries			(1,823)
Balance at End of Year	$ 125,387	$ 97,700	$ 12,387

SCHEDULE III Real Estate and Accumulated Depreciation - Property Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 205,958
Initial cost, buildings & improvements	2,412,280
Costs capitalized subsequent to acquisition	1,173,773
Gross amount, land	329,494
Gross amount, buildings & improvements	3,462,517
Gross amount, total	3,792,011	$ 3,642,007	$ 3,615,025	$ 3,563,304
Accumulated depreciation	$ 1,229,727	$ 1,140,564	$ 1,044,689	$ 949,630
Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Opryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 11,482
Initial cost, buildings & improvements	77,125
Costs capitalized subsequent to acquisition	691,991
Gross amount, land	71,200
Gross amount, buildings & improvements	709,398
Gross amount, total	780,598
Accumulated depreciation	$ 415,006
Date of Construction	Jan. 01, 1983
Gaylord Opryland [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Opryland [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Palms [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 21,564
Initial cost, buildings & improvements	314,661
Costs capitalized subsequent to acquisition	197,255
Gross amount, land	39,190
Gross amount, buildings & improvements	494,290
Gross amount, total	533,480
Accumulated depreciation	$ 200,561
Date of Construction	Jan. 01, 2002
Gaylord Palms [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Palms [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Texan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 21,235
Initial cost, buildings & improvements	388,030
Costs capitalized subsequent to acquisition	185,144
Gross amount, land	49,003
Gross amount, buildings & improvements	545,406
Gross amount, total	594,409
Accumulated depreciation	$ 218,248
Date of Construction	Jan. 01, 2004
Gaylord Texan [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Texan [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord National [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 43,212
Initial cost, buildings & improvements	840,261
Costs capitalized subsequent to acquisition	61,095
Gross amount, land	47,609
Gross amount, buildings & improvements	896,959
Gross amount, total	944,568
Accumulated depreciation	$ 298,182
Date of Construction	Jan. 01, 2008
Gaylord National [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord National [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Rockies [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 53,374
Initial cost, buildings & improvements	760,898
Costs capitalized subsequent to acquisition	5,317
Gross amount, land	55,538
Gross amount, buildings & improvements	764,051
Gross amount, total	819,589
Accumulated depreciation	$ 69,434
Date of Acquisition	Dec. 31, 2018
Inn at Opryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 2,675
Initial cost, buildings & improvements	7,248
Costs capitalized subsequent to acquisition	19,233
Gross amount, land	3,049
Gross amount, buildings & improvements	26,107
Gross amount, total	29,156
Accumulated depreciation	$ 11,763
Date of Construction	Jan. 01, 1998
Inn at Opryland [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Inn at Opryland [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
AC Hotel [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 9,079
Initial cost, buildings & improvements	17,340
Costs capitalized subsequent to acquisition	3,781
Gross amount, land	9,099
Gross amount, buildings & improvements	21,101
Gross amount, total	30,200
Accumulated depreciation	$ 3,749
Date of Acquisition	Jan. 01, 2014
AC Hotel [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
AC Hotel [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Miscellaneous [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 43,337
Initial cost, buildings & improvements	6,717
Costs capitalized subsequent to acquisition	9,957
Gross amount, land	54,806
Gross amount, buildings & improvements	5,205
Gross amount, total	60,011
Accumulated depreciation	$ 12,784
Miscellaneous [Member] \| Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Miscellaneous [Member] \| Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years

SCHEDULE III Real Estate and Accumulated Depreciation - Investment in Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	$ 3,642,007	$ 3,615,025	$ 3,563,304
Other acquisitions	22,227	0	0
Improvements	146,030	27,911	53,373
Disposals	(2,058)	(929)	(1,652)
Other deductions	(16,195)
Balance at end of year	$ 3,792,011	$ 3,642,007	$ 3,615,025

SCHEDULE III Real Estate and Accumulated Depreciation - Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	$ 1,140,564	$ 1,044,689	$ 949,630
Depreciation	99,104	96,263	95,415
Disposals	(1,346)	(388)	(356)
Other deductions	(8,595)
Balance at end of year	$ 1,229,727	$ 1,140,564	$ 1,044,689

SCHEDULE III Real Estate and Accumulated Depreciation - Additional Information (Details) - USD ($)	Dec. 31, 2021	Jul. 31, 2019
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Amount outstanding under credit facility	$ 866,500,000
Aggregate cost of properties for federal income tax	3,400,000,000
$800M Gaylord Rockies Term Loan [Member] \| Secured Debt [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Face amount	$ 800,000,000	$ 800,000,000.0