Ryman Hospitality Properties (RHP) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	RHP
Entity Registrant Name	Ryman Hospitality Properties, Inc.
Entity Central Index Key	1,040,829
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		51,001,434

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
ASSETS:
Property and equipment, net of accumulated depreciation	$ 1,984,035	$ 1,982,816
Cash and cash equivalents - unrestricted	50,732	56,291	$ 41,319	$ 76,408
Cash and cash equivalents - restricted	29,966	22,355
Notes receivable	155,357	152,560
Trade receivables, less allowance of $642 and $919, respectively	52,568	55,033
Prepaid expenses and other assets	83,230	62,379
Total assets	2,355,888	2,331,434
LIABILITIES AND STOCKHOLDERS' EQUITY:
Debt and capital lease obligations	1,493,632	1,431,710
Accounts payable and accrued liabilities	136,683	153,383
Dividends payable	38,949	36,868
Deferred management rights proceeds	181,603	183,119
Deferred income tax liabilities, net	520	1,163
Other liabilities	147,536	145,629
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value, 100,000 shares authorized, no shares issued or outstanding
Common stock, $.01 par value, 400,000 shares authorized, 51,000 and 51,291 shares issued and outstanding, respectively	510	513
Additional paid-in capital	889,085	887,501
Treasury stock of 526 and 511 shares, at cost	(10,748)	(10,001)
Accumulated deficit	(496,883)	(473,404)
Accumulated other comprehensive loss	(24,999)	(25,047)
Total stockholders' equity	356,965	379,562
Total liabilities and stockholders' equity	$ 2,355,888	$ 2,331,434

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 642	$ 919
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	51,000,000	51,291,000
Common stock, shares outstanding	51,000,000	51,291,000
Treasury stock, shares	526,000	511,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Rooms	$ 111,331	$ 104,540	$ 208,300	$ 199,261
Food and beverage	127,217	119,042	249,450	237,373
Other hotel revenue	23,781	22,253	48,770	45,655
Entertainment	33,886	28,201	51,192	44,895
Total revenues	296,215	274,036	557,712	527,184
Operating expenses:
Rooms	28,140	26,802	54,121	52,869
Food and beverage	67,998	64,789	136,255	129,864
Other hotel expenses	73,491	70,109	146,179	140,405
Management fees	5,501	3,791	10,838	7,303
Total hotel operating expenses	175,130	165,491	347,393	330,441
Entertainment	20,834	16,659	35,530	29,821
Corporate	6,897	6,273	13,868	13,367
Preopening costs		199		791
Impairment and other charges				2,890
Depreciation and amortization	26,409	28,399	55,182	56,969
Total operating expenses	229,270	217,021	451,973	434,279
Operating income	66,945	57,015	105,739	92,905
Interest expense	(16,016)	(17,814)	(32,055)	(31,627)
Interest income	3,008	3,393	6,151	6,401
Loss from joint ventures	(1,058)		(1,448)
Other gains and (losses), net	(133)	(339)	(180)	(20,571)
Income before income taxes	52,746	42,255	78,207	47,108
Provision for income taxes	(1,415)	(866)	(530)	(1,187)
Net income	$ 51,331	$ 41,389	$ 77,677	$ 45,921
Basic income per share	$ 1.01	$ 0.81	$ 1.52	$ 0.90
Fully diluted income per share	1	0.80	1.51	0.89
Dividends declared per common share	$ 0.75	$ 0.65	$ 1.50	$ 1.30
Comprehensive income, net of taxes	$ 51,334	$ 41,426	$ 77,725	$ 46,017

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 77,677	$ 45,921
Amounts to reconcile net income to net cash flows provided by operating activities:
Provision (benefit) for deferred income taxes	(598)	244
Depreciation and amortization	55,182	56,969
Amortization of deferred financing costs	2,432	2,854
Impairment and other charges		2,890
Loss on repurchase of warrants		20,246
Write-off of deferred financing costs		1,928
Stock-based compensation expense	3,062	3,057
Changes in:
Trade receivables	2,465	(23,324)
Accounts payable and accrued liabilities	(16,638)	(29,104)
Other assets and liabilities	3,320	(2,425)
Net cash flows provided by operating activities	126,902	79,256
Cash Flows from Investing Activities:
Purchases of property and equipment	(55,878)	(38,818)
Proceeds from sale of Peterson LOI	6,785	10,000
Investment in Gaylord Rockies joint venture	(31,944)
Increase in restricted cash and cash equivalents	(7,611)	(7,860)
Other investing activities	(1,900)	340
Net cash flows used in investing activities	(90,548)	(36,338)
Cash Flows from Financing Activities:
Net borrowings (repayments) under credit facility	67,500	(246,000)
Repayments under term loan B	(2,000)	(2,000)
Issuance of senior notes		400,000
Repayment of note payable related to purchase of AC Hotel	(6,000)
Repurchase of common stock warrants		(154,681)
Deferred financing costs paid		(10,723)
Repurchase of Company stock for retirement	(24,811)
Payment of dividend	(74,648)	(62,070)
Proceeds from exercise of stock options	1,142	1,430
Payment of tax withholdings for share-based compensation	(3,087)	(3,646)
Other financing activities	(9)	(317)
Net cash flows used in financing activities	(41,913)	(78,007)
Net change in cash and cash equivalents	(5,559)	(35,089)
Cash and cash equivalents - unrestricted, beginning of period	56,291	76,408
Cash and cash equivalents - unrestricted, end of period	$ 50,732	$ 41,319

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. BASIS OF PRESENTATION: On January 1, 2013, Ryman Hospitality Properties, Inc. (“Ryman”) and its subsidiaries (collectively with Ryman, the “Company”) began operating as a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of upscale, meetings-focused resorts that are managed by Marriott International, Inc. (“Marriott”) under the Gaylord Hotels brand. These resorts, which the Company refers to as the Gaylord Hotels properties, consist of the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee (“Gaylord Opryland”), the Gaylord Palms Resort & Convention Center near Orlando, Florida (“Gaylord Palms”), the Gaylord Texan Resort & Convention Center near Dallas, Texas (“Gaylord Texan”) and the Gaylord National Resort & Convention Center near Washington D.C. (“Gaylord National”). The Company’s other owned assets managed by Marriott include Gaylord Springs Golf Links (“Gaylord Springs”), the Wildhorse Saloon, the General Jackson Showboat (“General Jackson”), 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 that opened in April 2015. The Company also owns and operates 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; and WSM-AM, the Opry’s radio home. The condensed consolidated financial statements include the accounts of Ryman and its subsidiaries and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. In the opinion of management, all adjustments necessary for a fair statement of the results of operations for the interim periods have been included. All adjustments are of a normal, recurring nature. The results of operations for such interim periods are not necessarily indicative of the results for the full year because of seasonal and short-term variations. The Company conducts its business through an umbrella partnership real estate investment trust (“REIT”), in which substantially 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 discussed in Note 2. Ryman is the sole limited partner of the Operating Partnership and currently owns, either directly or indirectly, all 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 Quarterly Report on Form 10-Q and Ryman’s other reports filed with the SEC 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. Acquisitions and Investments In December 2014, the Company purchased from an affiliate of The Peterson Companies (the developer of the National Harbor, Maryland development in which Gaylord National is located) the AC Hotel, a 192-room hotel previously operated as the Aloft Hotel at National Harbor for a purchase price of $21.8 million. The transaction required that the property be transferred to the Company unencumbered by any existing hotel franchise or management agreements. The Company has rebranded the hotel and Marriott is now operating the property in conjunction with the Gaylord National pursuant to a separate management agreement. The hotel opened in April 2015. Simultaneously with the purchase of this hotel, the Company also acquired from an affiliate of The Peterson Companies a vacant one-half acre parcel of land located in close proximity to Gaylord National, suitable for development of a hotel or other permitted uses. In December 2014, the Company paid $21.2 million of the combined purchase price, including transaction costs, in cash and issued a $6.0 million note payable to an affiliate of The Peterson Companies, which was paid in January 2016 and bore interest at an Applicable Federal Rate as determined by the Internal Revenue Service and is shown in Note 7. In March 2016, certain subsidiaries of the Company entered into a series of agreements with respect to an equity investment in the Gaylord Rockies Resort & Convention Center in Aurora, Colorado (“Gaylord Rockies”). See Note 11 for further discussion of this investment. Newly Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers In February 2015, the FASB issued ASU No. 2015-02, “ Consolidation – Amendments to the Consolidation Guidance In February 2016, the FASB issued ASU No. 2016-02, “ Leases In March 2016, the FASB issued ASU No. 2016-09, “ Improvements to Employee Share-Based Payment Accounting

Deferred Management Rights Proc

Deferred Management Rights Proceeds	6 Months Ended
	Jun. 30, 2016
Deferred Revenue Disclosure [Abstract]
Deferred Management Rights Proceeds	2. DEFERRED MANAGEMENT RIGHTS PROCEEDS: The Company restructured its business operations to facilitate its qualification as a REIT for federal income tax purposes (the “REIT conversion”) during 2012 and has elected to be taxed as a REIT commencing with the year ended December 31, 2013. On October 1, 2012, the Company consummated its agreement to sell the Gaylord Hotels brand and rights to manage Gaylord Opryland, Gaylord Palms, Gaylord Texan and Gaylord National to Marriott for $210.0 million in cash. Effective October 1, 2012, Marriott assumed responsibility for managing the day-to-day operations of the Gaylord Hotels properties pursuant to a management agreement for each Gaylord Hotel property. On October 1, 2012, the Company received $210.0 million in cash from Marriott in exchange for rights to manage the Gaylord Hotels properties (the “Management Rights”) and certain intellectual property (the “IP Rights”). The Company allocated $190.0 million of the purchase price to the Management Rights and $20.0 million to the IP Rights. The allocation was based on the Company’s estimates of the fair values for the respective components. The Company estimated the fair value of each component by constructing distinct discounted cash flow models. For financial accounting purposes, the amount related to the Management Rights was deferred and is amortized on a straight line basis over the 65-year term of the hotel management agreements, including extensions, as a reduction in management fee expense. The amount related to the IP Rights was recognized into income as other gains and losses during the fourth quarter of 2012. In addition, pursuant to additional management agreements, Marriott manages the day-to-day operations of the Inn at Opryland, the AC Hotel, General Jackson Showboat, Gaylord Springs Golf Links and the Wildhorse Saloon. To comply with certain REIT qualification requirements, the Company will be required to engage third-party managers to operate and manage its future hotel properties, if any. Additionally, non-REIT operations, which consist of the activities of taxable REIT subsidiaries that act as lessees of the Company’s hotels, as well as the businesses within the Company’s Entertainment segment, continue to be subject, as applicable, to federal corporate and state income taxes following the REIT conversion.

Income Per Share

Income Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Income Per Share	3. INCOME PER SHARE: The weighted average number of common shares outstanding is calculated as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted average shares outstanding - basic 50,977 51,269 51,011 51,196 Effect of dilutive stock-based compensation 244 332 285 366 Weighted average shares outstanding - diluted 51,221 51,601 51,296 51,562

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	4. ACCUMULATED OTHER COMPREHENSIVE LOSS: The Company’s balance in accumulated other comprehensive loss is composed of amounts related to the Company’s minimum pension liability. During the three months and six months ended June 30, 2016 and 2015, the Company recorded no other comprehensive income. During the three months and six months ended June 30, 2016, the Company reclassified $0.1 million, and during the three months and six months ended June 30, 2015, the Company reclassified $0.1 million and $0.2 million, respectively, from accumulated other comprehensive loss into operating expenses in the Company’s condensed consolidated statements of operations included herein.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	5. PROPERTY AND EQUIPMENT: Property and equipment at June 30, 2016 and December 31, 2015 is recorded at cost and summarized as follows (in thousands): June 30, December 31, 2016 2015 Land and land improvements $ 263,170 $ 255,179 Buildings 2,381,759 2,369,851 Furniture, fixtures and equipment 612,000 603,529 Construction-in-progress 32,027 10,576 3,288,956 3,239,135 Accumulated depreciation (1,304,921 ) (1,256,319 ) Property and equipment, net $ 1,984,035 $ 1,982,816

Notes Receivable

Notes Receivable	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Notes Receivable	6. NOTES RECEIVABLE: As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, in connection with the development of Gaylord National, the Company is currently holding two issuances of governmental bonds and receives debt service thereon, payable from property tax increments, hotel taxes and special hotel rental taxes generated from Gaylord National through the maturity date. The Company is recording the amortization of discount on these notes receivable as interest income over the life of the notes. During the three months ended June 30, 2016 and 2015, the Company recorded interest income of $3.0 million and $3.4 million, respectively, on these bonds. During the six months ended June 30, 2016 and 2015, the Company recorded interest income of $6.1 million and $6.4 million, respectively, on these bonds. The Company received payments of $3.3 million and $3.4 million during the six months ended June 30, 2016 and 2015, respectively, relating to these notes receivable. See additional discussion regarding the fair value of these notes receivable in Note 13.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	7. DEBT: The Company’s debt and capital lease obligations at June 30, 2016 and December 31, 2015 consisted of (in thousands): June 30, December 31, 2016 2015 $700 Million Revolving Credit Facility, interest at LIBOR plus 1.65%, maturing June 5, 2019, less unamortized deferred financing costs of $6,301 and $7,335 $ 367,599 $ 299,065 $400 Million Term Loan B, interest at LIBOR plus 2.75%, maturing January 15, 2021, less unamortized deferred financing costs of $5,865 and $6,457 386,135 387,543 $350 Million Senior Notes, interest at 5.0%, maturing April 15, 2021, less unamortized deferred financing costs of $4,676 and $5,107 345,324 344,893 $400 Million Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $6,094 and $6,469 393,906 393,531 AC Hotel Note Payable — 6,000 Capital lease obligations 668 678 Total debt 1,493,632 1,431,710 Less amounts due within one year (19 ) (6,019 ) Total long-term debt $ 1,493,613 $ 1,425,691 At June 30, 2016, the Company was in compliance with all of its covenants related to its outstanding debt. Warrants Related to Former 3.75% Convertible Senior Notes Separately and concurrently with the 2009 issuance of its previous convertible notes, the Company also entered into warrant transactions whereby it sold common stock purchase warrants to counterparties affiliated with the initial purchasers of the convertible notes. The warrants entitled the counterparties to purchase shares of the Company’s common stock. Pursuant to December 2014 agreements with the remaining counterparties, the Company cash settled the remaining 4.7 million warrants in the first quarter of 2015. As the modification required the warrants to be cash settled, the fair value of the warrants was reclassified from stockholders’ equity to a derivative liability on the modification date. In the first quarter of 2015, the Company settled this repurchase for total consideration of $154.7 million and recorded a $20.2 million loss on the change in the fair value of the derivative liability from December 31, 2014 through the settlement date, which is included in other gains and losses, net in the accompanying condensed consolidated statement of operations for the six months ended June 30, 2015.

Stock Plans

Stock Plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans	8. STOCK PLANS: In addition to grants of stock options to its directors and employees, which the Company no longer actively grants, the Company’s incentive plans permit the award of restricted stock and restricted stock units. The fair value of restricted stock and restricted stock units with time-based vesting is determined based on the market price of the Company’s stock at the date of grant. The fair value of restricted stock and restricted stock units with performance conditions is determined using a Monte-Carlo simulation model. The Company generally records compensation expense equal to the fair value of each restricted stock award granted over the vesting period. During the six months ended June 30, 2016, the Company granted 0.1 million restricted stock units with a weighted-average grant date fair value of $47.53 per award. There were 0.5 million restricted stock units outstanding at June 30, 2016 and December 31, 2015. The compensation expense that has been charged against pre-tax income for all of the Company’s stock-based compensation plans was $1.5 million for the three months ended June 30, 2016 and 2015, and $3.1 million for the six months ended June 30, 2016 and 2015.

Pension and Postretirement Bene

Pension and Postretirement Benefits Other Than Pension Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Postretirement Benefits Other Than Pension Plans	9. PENSION AND POSTRETIREMENT BENEFITS OTHER THAN PENSION PLANS: Net periodic pension expense reflected in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest cost $ 953 $ 986 $ 1,930 $ 1,972 Expected return on plan assets (1,006 ) (1,188 ) (2,040 ) (2,376 ) Amortization of net actuarial loss 322 309 614 617 Total net periodic pension expense $ 269 $ 107 $ 504 $ 213 Net postretirement benefit income reflected in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest cost $ 30 $ 53 $ 60 $ 106 Amortization of net actuarial loss 62 118 121 236 Amortization of prior service credit (329 ) (329 ) (657 ) (657 ) Total net postretirement benefit income $ (237 ) $ (158 ) $ (476 ) $ (315 )

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
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 will, however, be subject to corporate income taxes on built-in gains (the excess of fair market value over tax basis at January 1, 2013) that result from gains on the sale of certain assets occurring prior to January 1, 2018. In addition, the Company will continue to be required to pay federal and state corporate income taxes on earnings of its taxable REIT subsidiaries (“TRSs”). The Company recorded an income tax provision of $1.4 million and $0.9 million for the three months ended June 30, 2016 and 2015, respectively, and $0.5 million and $1.2 million for the six months ended June 30, 2016 and 2015, respectively, related to the current period operations of the Company. These results differ from the statutory rate primarily due to the REIT dividends paid deduction and the change in valuation allowance required at the TRSs. Included in the income tax provision for the six months ended June 30, 2016 is a discrete benefit related to the adoption of ASU 2016-09 discussed in Note 1. At June 30, 2016 and December 31, 2015, the Company had no unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. COMMITMENTS AND CONTINGENCIES: Gaylord Rockies Resort & Convention Center In March 2016, certain subsidiaries of the Company entered into a series of agreements with affiliates of RIDA Development Corporation (“RIDA”) and Ares Management, L.P. (“Ares”) with respect to an equity investment in Gaylord Rockies, which is currently being developed by RIDA and Ares. The hotel will be managed by an affiliate of Marriott pursuant to a long-term management contract and is expected to consist of a 1,500-room resort hotel with over 485,000 square feet of exhibition, meeting, pre-function and outdoor space. The hotel is expected to be completed in late 2018 and has a total estimated project cost of approximately $800 million. The Company acquired a 35% interest in a limited liability company which will own the real property comprising the hotel for a capital contribution expected to total $86.1 million. Simultaneously, the Company also acquired a 35% interest in a limited liability company which will lease the hotel from the property owner and assume the Marriott management agreement prior to the opening of the hotel. The Company has funded $31.9 million of its capital contribution, which is included in Prepaid Expenses and Other Assets in the accompanying condensed consolidated balance sheet at June 30, 2016, and expects to fund the remainder of its capital contribution during the remainder of 2016 and the first half of 2017. The Company’s capital contributions will be funded from available cash on hand and borrowings under its revolving credit facility. The terms of the Company’s investment provide that the Company will have the ability to approve certain major decisions affecting the hotel, including, but not limited to, operating budgets, major capital expenditures, material transactions involving the hotel, and approval of designated hotel senior management. The Company also has a right of first offer to acquire the remainder of the project and designated rights to participate in any sales process with respect to the project after exercise of its first offer rights. However, because the power to direct the activities that most significantly impact the economic performance of the hotel are either shared or are held by some combination of RIDA, Ares and Marriott, the Company is not the primary beneficiary of this variable interest entity, and thus, accounts for its investment in this joint venture under the equity method of accounting. As such, the Company does not consolidate any part of the assets or liabilities of this investment. The Company’s share of equity method net income or loss will increase or decrease, as applicable, the carrying value of our equity method investment. A subsidiary of the Company will provide designated asset management services on behalf of the hotel during the pre-construction period in exchange for a flat fee and after opening of the hotel in exchange for a fee based on the hotel’s gross revenues on an annual basis. In connection with the agreements, the Company agreed to provide guarantees of the hotel’s construction loan, including a principal repayment guaranty of up to $21 million of the total $500 million principal amount of the construction loan previously obtained from a consortium of eight banks, with such amount reducing to $14 million and further reducing to $8.75 million upon the hotel’s satisfaction of designated debt service coverage requirements following completion and opening of the hotel. The Company has also provided a completion guarantee under the construction loan capped at its pro rata share of all costs necessary to complete the project within the time specified in the joint venture’s loan documents. Further, the Company has agreed to a guaranty capped at its pro rata share of the joint venture’s obligations under the construction loan prior to the hotel’s opening related to interest accruing under the construction loan and the operating expenses of the property (estimated pro rata share of interest prior to the hotel opening is $9.8 million). In addition to guaranties related to the construction loan, the Company agreed to provide a guaranty of the mezzanine debt related to the hotel including a payment guaranty capped at $8.75 million for which the Company is only liable in the event there is a casualty or condemnation event at the hotel and the construction lenders elect to apply those proceeds to the construction loan balance and release the construction loan guaranties and liens. The guaranty related to the mezzanine debt also includes an uncapped completion guaranty and an uncapped guaranty of the joint venture’s obligations under the mezzanine loan prior to the hotel’s opening related to interest accruing under the mezzanine loan and the operating expenses of the property to the extent not already satisfied by the parties under the guaranties related to the construction loan. As of June 30, 2016, the Company had not recorded any liability in the condensed consolidated balance sheet associated with these guarantees. Other Commitments and Contingencies The Company is self-insured up to a stop loss for certain losses related 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. The Company has entered into employment agreements with certain officers, which provide for severance payments upon certain events, including certain terminations in connection with a change of control. The Company, in the ordinary course of business, is involved in certain legal actions and claims on a variety of matters. It is the opinion of management that such legal actions will not have a material effect on the results of operations, financial condition or liquidity of the Company.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	12. STOCKHOLDERS’ EQUITY: Stock Repurchase Authorization On August 20, 2015, the Company announced that its board of directors authorized a share repurchase program for up to $100 million of the Company’s common stock using cash on hand and borrowings under its revolving credit line. The repurchases are intended to be implemented through open market transactions on U.S. exchanges or in privately negotiated transactions, in accordance with applicable securities laws, and any market purchases will be made during open trading window periods or pursuant to any applicable Rule 10b5-1 trading plans. The authorization extends until December 31, 2016. The timing, prices, and sizes of repurchases will depend upon prevailing market prices, general economic and market conditions and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of stock. During the three months ended March 31, 2016, the Company repurchased 0.5 million shares of its common stock for an aggregate purchase price of $24.8 million, which the Company funded using cash on hand and borrowings under its revolving credit facility. The repurchased stock, which represents the entirety of shares that have been repurchased under the current authorization, was cancelled by the Company and has been reflected as a reduction of retained earnings at June 30, 2016 in the accompanying condensed consolidated financial statements. Dividends On February 26, 2016, the Company’s board of directors declared the Company’s first quarter 2016 cash dividend in the amount of $0.75 per share of common stock, or an aggregate of approximately $38.2 million in cash, which was paid on April 15, 2016 to stockholders of record as of the close of business on March 31, 2016. On June 13, 2016, the Company’s board of directors declared the Company’s second quarter 2016 cash dividend in the amount of $0.75 per share of common stock, or an aggregate of approximately $38.3 million in cash, which was paid on July 15, 2016 to stockholders of record as of the close of business on June 30, 2016.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. FAIR VALUE MEASUREMENTS: The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. At June 30, 2016 and December 31, 2015, the Company held certain assets that are required to be measured at fair value on a recurring basis. These included investments held in conjunction with the Company’s non-qualified contributory deferred compensation plan. These investments consist of mutual funds traded in an active market. The Company determined the fair value of these mutual funds based on the net asset value per unit of the funds or the portfolio, which is based upon quoted market prices in an active market. Therefore, the Company has categorized these investments as Level 1. The Company has consistently applied the above valuation techniques in all periods presented and believes it has obtained the most accurate information available for each type of instrument. The Company had no liabilities required to be measured at fair value at June 30, 2016 and December 31, 2015. The Company’s assets measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015, were as follows (in thousands): Markets for Observable Unobservable June 30, Identical Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 19,605 $ 19,605 $ — $ — Total assets measured at fair value $ 19,605 $ 19,605 $ — $ — Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 19,289 $ 19,289 $ — $ — Total assets measured at fair value $ 19,289 $ 19,289 $ — $ — The remainder of the assets and liabilities held by the Company at June 30, 2016 are not required to be measured at fair value. The carrying value of certain of these assets and liabilities do not approximate fair value, as described below. As further discussed in Note 6 and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, in connection with the development of Gaylord National, the Company received two bonds (“Series A Bond” and “Series B Bond”) from Prince George’s County, Maryland which had aggregate carrying values of $84.9 million and $70.4 million, respectively, at June 30, 2016. The maturity dates of the Series A Bond and the Series B Bond are July 1, 2034 and September 1, 2037, respectively. Based upon current market interest rates of notes receivable with comparable market ratings and current expectations about the timing of debt service payments under the notes, which the Company considers as Level 3, the fair value of the Series A Bond, which has the senior claim to the cash flows supporting these bonds, approximated carrying value at June 30, 2016 and the fair value of the Series B Bond was approximately $62 million at June 30, 2016. While the fair value of the Series B Bond decreased to less than its carrying value during 2011 due to a change in the timing of the debt service payments, the Company has the intent and ability to hold this bond to maturity and expects to receive all debt service payments due under the note. Therefore, the Company does not consider the Series B Bond to be other than temporarily impaired at June 30, 2016. The carrying amount of short-term financial instruments held by the Company (cash, short-term investments, trade receivables, accounts payable and accrued liabilities) approximates fair value due to the short maturity of those instruments. The concentration of credit risk on trade receivables is minimized by the large and diverse nature of the Company’s customer base.

Financial Reporting By Business

Financial Reporting By Business Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Financial Reporting By Business Segments	14. FINANCIAL REPORTING BY BUSINESS SEGMENTS: The Company’s operations are organized into three principal business segments: • Hospitality • Entertainment • Corporate and Other The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues: Hospitality $ 262,329 $ 245,835 $ 506,520 $ 482,289 Entertainment 33,886 28,201 51,192 44,895 Corporate and Other — — — — Total $ 296,215 $ 274,036 $ 557,712 $ 527,184 Depreciation and amortization: Hospitality $ 24,181 $ 26,349 $ 50,650 $ 52,792 Entertainment 1,561 1,353 3,208 2,765 Corporate and Other 667 697 1,324 1,412 Total $ 26,409 $ 28,399 $ 55,182 $ 56,969 Operating income: Hospitality $ 63,018 $ 53,995 $ 108,477 $ 99,056 Entertainment 11,491 10,189 12,454 12,309 Corporate and Other (7,564 ) (6,970 ) (15,192 ) (14,779 ) Preopening costs — (199 ) — (791 ) Impairment and other charges — — — (2,890 ) Total operating income 66,945 57,015 105,739 92,905 Interest expense (16,016 ) (17,814 ) (32,055 ) (31,627 ) Interest income 3,008 3,393 6,151 6,401 Loss from joint ventures (1,058 ) — (1,448 ) — Other gains and (losses), net (133 ) (339 ) (180 ) (20,571 ) Income before income taxes $ 52,746 $ 42,255 $ 78,207 $ 47,108

Information Concerning Guaranto

Information Concerning Guarantor and Non-Guarantor Subsidiaries	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Information Concerning Guarantor and Non-Guarantor Subsidiaries	15. INFORMATION CONCERNING GUARANTOR AND NON-GUARANTOR SUBSIDIARIES: The $350 Million 5% Senior Notes and the $400 Million 5% Senior Notes were each issued by the Operating Partnership and Finco and are guaranteed on a senior unsecured basis by the Company, each of the Company’s four wholly-owned subsidiaries that own the Gaylord Hotels properties, and certain other of the Company’s subsidiaries, each of which guarantees the Operating Partnership’s Credit Facility (such subsidiary guarantors, together with the Company, the “Guarantors”). The subsidiary Guarantors are 100% owned, and the guarantees are full and unconditional and joint and several. Not all of the Company’s subsidiaries have guaranteed the Company’s $350 Million 5% Senior Notes and the $400 Million 5% Senior Notes. The following condensed consolidating financial information includes certain allocations of expenses based on management’s best estimates, which are not necessarily indicative of financial position, results of operations and cash flows that these entities would have achieved on a stand-alone basis. RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ 14,894 $ — $ 1,605,596 $ 363,545 $ — $ 1,984,035 Cash and cash equivalents - unrestricted 67 353 15 50,297 — 50,732 Cash and cash equivalents - restricted — — — 29,966 — 29,966 Notes receivable — — — 155,357 — 155,357 Trade receivables, less allowance — — — 52,568 — 52,568 Prepaid expenses and other assets 32 92 71,046 84,559 (72,499 ) 83,230 Intercompany receivables, net — — 1,451,915 — (1,451,915 ) — Investments 960,919 2,795,064 531,134 697,380 (4,984,497 ) — Total assets $ 975,912 $ 2,795,509 $ 3,659,706 $ 1,433,672 $ (6,508,911 ) $ 2,355,888 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,492,964 $ — $ 668 $ — $ 1,493,632 Accounts payable and accrued liabilities 42 8,066 1,796 199,265 (72,486 ) 136,683 Dividends payable 38,949 — — — — 38,949 Deferred management rights proceeds — — — 181,603 — 181,603 Deferred income tax liabilities, net 1,216 — 544 (1,240 ) — 520 Other liabilities — — 87,367 60,182 (13 ) 147,536 Intercompany payables, net 578,740 575,301 — 297,874 (1,451,915 ) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 510 1 1 2,387 (2,389 ) 510 Additional paid-in-capital 889,085 897,746 2,812,431 1,213,325 (4,923,502 ) 889,085 Treasury stock (10,748 ) — — — — (10,748 ) Accumulated deficit (496,883 ) (178,569 ) 757,567 (495,393 ) (83,605 ) (496,883 ) Accumulated other comprehensive loss (24,999 ) — — (24,999 ) 24,999 (24,999 ) Total stockholders’ equity 356,965 719,178 3,569,999 695,320 (4,984,497 ) 356,965 Total liabilities and stockholders’ equity $ 975,912 $ 2,795,509 $ 3,659,706 $ 1,433,672 $ (6,508,911 ) $ 2,355,888 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ 6,869 $ — $ 1,622,674 $ 353,273 $ — $ 1,982,816 Cash and cash equivalents - unrestricted 23 1,578 158 54,532 — 56,291 Cash and cash equivalents - restricted — — — 22,355 — 22,355 Notes receivable — — — 152,560 — 152,560 Trade receivables, less allowance — — — 55,033 — 55,033 Prepaid expenses and other assets 7,111 — 116,218 57,264 (118,214 ) 62,379 Intercompany receivables, net — — 1,284,587 — (1,284,587 ) — Investments 976,809 2,795,064 531,628 697,381 (5,000,882 ) — Total assets $ 990,812 $ 2,796,642 $ 3,555,265 $ 1,392,398 $ (6,403,683 ) $ 2,331,434 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,431,032 $ — $ 678 $ — $ 1,431,710 Accounts payable and accrued liabilities 103 8,153 1,390 262,234 (118,497 ) 153,383 Dividends payable 36,868 — — — — 36,868 Deferred management rights proceeds — — — 183,119 — 183,119 Deferred income tax liabilities, net 1,609 — 599 (1,045 ) — 1,163 Other liabilities — — 84,746 60,600 283 145,629 Intercompany payables, net 572,670 506,341 — 205,576 (1,284,587 ) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 513 1 1 2,387 (2,389 ) 513 Additional paid-in-capital 887,501 996,425 2,812,431 1,213,324 (5,022,180 ) 887,501 Treasury stock (10,001 ) — — — — (10,001 ) Accumulated deficit (473,404 ) (145,310 ) 656,098 (509,428 ) (1,360 ) (473,404 ) Accumulated other comprehensive loss (25,047 ) — — (25,047 ) 25,047 (25,047 ) Total stockholders’ equity 379,562 851,116 3,468,530 681,236 (5,000,882 ) 379,562 Total liabilities and stockholders’ equity $ 990,812 $ 2,796,642 $ 3,555,265 $ 1,392,398 $ (6,403,683 ) $ 2,331,434 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 111,331 $ — $ 111,331 Food and beverage — — — 127,217 — 127,217 Other hotel revenue — — 77,689 27,745 (81,653 ) 23,781 Entertainment 59 — — 33,873 (46 ) 33,886 Total revenues 59 — 77,689 300,166 (81,699 ) 296,215 Operating expenses: Rooms — — — 28,140 — 28,140 Food and beverage — — — 67,998 — 67,998 Other hotel expenses — — 10,944 140,127 (77,580 ) 73,491 Management fees — — — 5,501 — 5,501 Total hotel operating expenses — — 10,944 241,766 (77,580 ) 175,130 Entertainment — — — 20,880 (46 ) 20,834 Corporate 111 433 1 6,352 — 6,897 Corporate overhead allocation 2,303 — 1,770 — (4,073 ) — Depreciation and amortization 48 — 14,755 11,606 — 26,409 Total operating expenses 2,462 433 27,470 280,604 (81,699 ) 229,270 Operating income (loss) (2,403 ) (433 ) 50,219 19,562 — 66,945 Interest expense — (16,339 ) 94 229 — (16,016 ) Interest income — — — 3,008 — 3,008 Loss from joint ventures — — — (1,058 ) — (1,058 ) Other gains and (losses), net — — (87 ) (46 ) — (133 ) Income (loss) before income taxes (2,403 ) (16,772 ) 50,226 21,695 — 52,746 Provision for income taxes — — (97 ) (1,318 ) — (1,415 ) Equity in subsidiaries’ earnings, net 53,734 — — — (53,734 ) — Net income (loss) $ 51,331 $ (16,772 ) $ 50,129 $ 20,377 $ (53,734 ) $ 51,331 Comprehensive income (loss) $ 51,334 $ (16,772 ) $ 50,129 $ 20,380 $ (53,737 ) $ 51,334 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 104,540 $ — $ 104,540 Food and beverage — — — 119,042 — 119,042 Other hotel revenue — — 74,776 26,685 (79,208 ) 22,253 Entertainment 58 — — 28,190 (47 ) 28,201 Total revenues 58 — 74,776 278,457 (79,255 ) 274,036 Operating expenses: Rooms — — — 26,802 — 26,802 Food and beverage — — — 64,789 — 64,789 Other hotel expenses — — 10,900 133,878 (74,669 ) 70,109 Management fees — — — 3,791 — 3,791 Total hotel operating expenses — — 10,900 229,260 (74,669 ) 165,491 Entertainment — — — 16,705 (46 ) 16,659 Corporate 121 333 2 5,817 — 6,273 Corporate overhead allocation 2,534 — 2,006 — (4,540 ) — Preopening costs — — — 199 — 199 Depreciation and amortization 31 — 14,729 13,639 — 28,399 Total operating expenses 2,686 333 27,637 265,620 (79,255 ) 217,021 Operating income (loss) (2,628 ) (333 ) 47,139 12,837 — 57,015 Interest expense — (17,912 ) 2 96 — (17,814 ) Interest income — — — 3,393 — 3,393 Other gains and (losses), net (60 ) — — (279 ) — (339 ) Income (loss) before income taxes (2,688 ) (18,245 ) 47,141 16,047 — 42,255 (Provision) benefit for income taxes — 22 (123 ) (765 ) — (866 ) Equity in subsidiaries’ earnings, net 44,077 — — — (44,077 ) — Net income (loss) $ 41,389 $ (18,223 ) $ 47,018 $ 15,282 $ (44,077 ) $ 41,389 Comprehensive income (loss) $ 41,426 $ (18,223 ) $ 47,018 $ 15,319 $ (44,114 ) $ 41,426 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Six Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 208,300 $ — $ 208,300 Food and beverage — — — 249,450 — 249,450 Other hotel revenue — — 156,336 56,459 (164,025 ) 48,770 Entertainment 148 — — 51,166 (122 ) 51,192 Total revenues 148 — 156,336 565,375 (164,147 ) 557,712 Operating expenses: Rooms — — — 54,121 — 54,121 Food and beverage — — — 136,255 — 136,255 Other hotel expenses — — 21,889 280,409 (156,119 ) 146,179 Management fees — — — 10,838 — 10,838 Total hotel operating expenses — — 21,889 481,623 (156,119 ) 347,393 Entertainment — — — 35,652 (122 ) 35,530 Corporate 194 807 2 12,865 — 13,868 Corporate overhead allocation 4,470 — 3,436 — (7,906 ) — Depreciation and amortization 80 — 29,498 25,604 — 55,182 Total operating expenses 4,744 807 54,825 555,744 (164,147 ) 451,973 Operating income (loss) (4,596 ) (807 ) 101,511 9,631 — 105,739 Interest expense — (32,452 ) 135 262 — (32,055 ) Interest income 28 — — 6,123 — 6,151 Loss from joint ventures — — — (1,448 ) — (1,448 ) Other gains and (losses), net — — (87 ) (93 ) — (180 ) Income (loss) before income taxes (4,568 ) (33,259 ) 101,559 14,475 — 78,207 Provision for income taxes — — (90 ) (440 ) — (530 ) Equity in subsidiaries’ earnings, net 82,245 — — — (82,245 ) — Net income (loss) $ 77,677 $ (33,259 ) $ 101,469 $ 14,035 $ (82,245 ) $ 77,677 Comprehensive income (loss) $ 77,725 $ (33,259 ) $ 101,469 $ 14,083 $ (82,293 ) $ 77,725 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 199,261 $ — $ 199,261 Food and beverage — — — 237,373 — 237,373 Other hotel revenue — — 150,336 54,353 (159,034 ) 45,655 Entertainment 115 — — 44,897 (117 ) 44,895 Total revenues 115 — 150,336 535,884 (159,151 ) 527,184 Operating expenses: Rooms — — — 52,869 — 52,869 Food and beverage — — — 129,864 — 129,864 Other hotel expenses — — 21,868 268,657 (150,120 ) 140,405 Management fees — — — 7,303 — 7,303 Total hotel operating expenses — — 21,868 458,693 (150,120 ) 330,441 Entertainment — — — 29,938 (117 ) 29,821 Corporate 173 649 2 12,543 — 13,367 Corporate overhead allocation 4,999 — 3,915 — (8,914 ) — Preopening costs — — — 791 — 791 Impairment and other charges — — — 2,890 — 2,890 Depreciation and amortization 63 — 29,515 27,391 — 56,969 Total operating expenses 5,235 649 55,300 532,246 (159,151 ) 434,279 Operating income (loss) (5,120 ) (649 ) 95,036 3,638 — 92,905 Interest expense — (31,763 ) 2 134 — (31,627 ) Interest income — — — 6,401 — 6,401 Other gains and (losses), net (20,246 ) — — (325 ) — (20,571 ) Income (loss) before income taxes (25,366 ) (32,412 ) 95,038 9,848 — 47,108 (Provision) benefit for income taxes — 22 (124 ) (1,085 ) — (1,187 ) Equity in subsidiaries’ earnings, net 71,287 — — — (71,287 ) — Net income (loss) $ 45,921 $ (32,390 ) $ 94,914 $ 8,763 $ (71,287 ) $ 45,921 Comprehensive income (loss) $ 46,017 $ (32,390 ) $ 94,914 $ 8,859 $ (71,383 ) $ 46,017 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ 102,768 $ (60,725 ) $ 12,326 $ 72,533 $ — $ 126,902 Purchases of property and equipment (8,105 ) — (12,497 ) (35,276 ) — (55,878 ) Proceeds from sale of Peterson LOI 6,785 — — — — 6,785 Investment in Gaylord Rockies joint venture — — — (31,944 ) — (31,944 ) Increase in restricted cash and cash equivalents — — — (7,611 ) — (7,611 ) Other investing activities — — 28 (1,928 ) — (1,900 ) Net cash used in investing activities (1,320 ) — (12,469 ) (76,759 ) — (90,548 ) Net borrowings under credit facility — 67,500 — — — 67,500 Repayments under term loan B — (2,000 ) — — — (2,000 ) Repayment of note payable related to purchase of AC Hotel — (6,000 ) — — — (6,000 ) Repurchase of Company stock for retirement (24,811 ) — — — — (24,811 ) Payment of dividend (74,648 ) — — — — (74,648 ) Proceeds from exercise of stock options 1,142 — — — — 1,142 Payment of tax withholdings for share-based compensation (3,087 ) — — — — (3,087 ) Other financing activities — — — (9 ) — (9 ) Net cash provided by (used in) financing activities (101,404 ) 59,500 — (9 ) — (41,913 ) Net change in cash and cash equivalents 44 (1,225 ) (143 ) (4,235 ) — (5,559 ) Cash and cash equivalents at beginning of period 23 1,578 158 54,532 — 56,291 Cash and cash equivalents at end of period $ 67 $ 353 $ 15 $ 50,297 $ — $ 50,732 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ 208,725 $ (140,988 ) $ 398 $ 11,121 $ — $ 79,256 Purchases of property and equipment (53 ) — (387 ) (38,378 ) — (38,818 ) Proceeds from sale of Peterson LOI 10,000 — — — — 10,000 Increase in restricted cash and cash equivalents — — — (7,860 ) — (7,860 ) Other investing activities — — — 340 — 340 Net cash provide by (used in) investing activities 9,947 — (387 ) (45,898 ) — (36,338 ) Net repayments under credit facility — (246,000 ) — — — (246,000 ) Repayments under term loan B — (2,000 ) — — — (2,000 ) Issuance of senior notes — 400,000 — — — 400,000 Repurchase of common stock warrants (154,681 ) — — — — (154,681 ) Deferred financing costs paid — (10,723 ) — — — (10,723 ) Payment of dividend (62,070 ) — — — — (62,070 ) Proceeds from exercise of stock option and purchase plans 1,430 — — — — 1,430 Payment of tax withholdings for share-based compensation (3,646 ) — — — — (3,646 ) Other financing activities — — — (317 ) — (317 ) Net cash provided by (used in) financing activities (218,967 ) 141,277 — (317 ) — (78,007 ) Net change in cash and cash equivalents (295 ) 289 11 (35,094 ) — (35,089 ) Cash and cash equivalents at beginning of period 392 1,001 36 74,979 — 76,408 Cash and cash equivalents at end of period $ 97 $ 1,290 $ 47 $ 39,885 $ — $ 41,319

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Newly Issued Accounting Standards	Newly Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers In February 2015, the FASB issued ASU No. 2015-02, “ Consolidation – Amendments to the Consolidation Guidance In February 2016, the FASB issued ASU No. 2016-02, “ Leases In March 2016, the FASB issued ASU No. 2016-09, “ Improvements to Employee Share-Based Payment Accounting

Income Per Share (Tables)

Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Weighted Average Number of Common Shares Outstanding	The weighted average number of common shares outstanding is calculated as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted average shares outstanding - basic 50,977 51,269 51,011 51,196 Effect of dilutive stock-based compensation 244 332 285 366 Weighted average shares outstanding - diluted 51,221 51,601 51,296 51,562

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment at June 30, 2016 and December 31, 2015 is recorded at cost and summarized as follows (in thousands): June 30, December 31, 2016 2015 Land and land improvements $ 263,170 $ 255,179 Buildings 2,381,759 2,369,851 Furniture, fixtures and equipment 612,000 603,529 Construction-in-progress 32,027 10,576 3,288,956 3,239,135 Accumulated depreciation (1,304,921 ) (1,256,319 ) Property and equipment, net $ 1,984,035 $ 1,982,816

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Summary of Debt and Capital Lease Obligations	The Company’s debt and capital lease obligations at June 30, 2016 and December 31, 2015 consisted of (in thousands): June 30, December 31, 2016 2015 $700 Million Revolving Credit Facility, interest at LIBOR plus 1.65%, maturing June 5, 2019, less unamortized deferred financing costs of $6,301 and $7,335 $ 367,599 $ 299,065 $400 Million Term Loan B, interest at LIBOR plus 2.75%, maturing January 15, 2021, less unamortized deferred financing costs of $5,865 and $6,457 386,135 387,543 $350 Million Senior Notes, interest at 5.0%, maturing April 15, 2021, less unamortized deferred financing costs of $4,676 and $5,107 345,324 344,893 $400 Million Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $6,094 and $6,469 393,906 393,531 AC Hotel Note Payable — 6,000 Capital lease obligations 668 678 Total debt 1,493,632 1,431,710 Less amounts due within one year (19 ) (6,019 ) Total long-term debt $ 1,493,613 $ 1,425,691

Pension and Postretirement Be25

Pension and Postretirement Benefits Other Than Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Pension Plan [Member]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net periodic pension expense reflected in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest cost $ 953 $ 986 $ 1,930 $ 1,972 Expected return on plan assets (1,006 ) (1,188 ) (2,040 ) (2,376 ) Amortization of net actuarial loss 322 309 614 617 Total net periodic pension expense $ 269 $ 107 $ 504 $ 213
Other Postretirement Benefit Plan [Member]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net postretirement benefit income reflected in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest cost $ 30 $ 53 $ 60 $ 106 Amortization of net actuarial loss 62 118 121 236 Amortization of prior service credit (329 ) (329 ) (657 ) (657 ) Total net postretirement benefit income $ (237 ) $ (158 ) $ (476 ) $ (315 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company had no liabilities required to be measured at fair value at June 30, 2016 and December 31, 2015. The Company’s assets measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015, were as follows (in thousands): Markets for Observable Unobservable June 30, Identical Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 19,605 $ 19,605 $ — $ — Total assets measured at fair value $ 19,605 $ 19,605 $ — $ — Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 19,289 $ 19,289 $ — $ — Total assets measured at fair value $ 19,289 $ 19,289 $ — $ —

Financial Reporting By Busine27

Financial Reporting By Business Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segments Internal Financial Reports	The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues: Hospitality $ 262,329 $ 245,835 $ 506,520 $ 482,289 Entertainment 33,886 28,201 51,192 44,895 Corporate and Other — — — — Total $ 296,215 $ 274,036 $ 557,712 $ 527,184 Depreciation and amortization: Hospitality $ 24,181 $ 26,349 $ 50,650 $ 52,792 Entertainment 1,561 1,353 3,208 2,765 Corporate and Other 667 697 1,324 1,412 Total $ 26,409 $ 28,399 $ 55,182 $ 56,969 Operating income: Hospitality $ 63,018 $ 53,995 $ 108,477 $ 99,056 Entertainment 11,491 10,189 12,454 12,309 Corporate and Other (7,564 ) (6,970 ) (15,192 ) (14,779 ) Preopening costs — (199 ) — (791 ) Impairment and other charges — — — (2,890 ) Total operating income 66,945 57,015 105,739 92,905 Interest expense (16,016 ) (17,814 ) (32,055 ) (31,627 ) Interest income 3,008 3,393 6,151 6,401 Loss from joint ventures (1,058 ) — (1,448 ) — Other gains and (losses), net (133 ) (339 ) (180 ) (20,571 ) Income before income taxes $ 52,746 $ 42,255 $ 78,207 $ 47,108

Information Concerning Guaran28

Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ 14,894 $ — $ 1,605,596 $ 363,545 $ — $ 1,984,035 Cash and cash equivalents - unrestricted 67 353 15 50,297 — 50,732 Cash and cash equivalents - restricted — — — 29,966 — 29,966 Notes receivable — — — 155,357 — 155,357 Trade receivables, less allowance — — — 52,568 — 52,568 Prepaid expenses and other assets 32 92 71,046 84,559 (72,499 ) 83,230 Intercompany receivables, net — — 1,451,915 — (1,451,915 ) — Investments 960,919 2,795,064 531,134 697,380 (4,984,497 ) — Total assets $ 975,912 $ 2,795,509 $ 3,659,706 $ 1,433,672 $ (6,508,911 ) $ 2,355,888 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,492,964 $ — $ 668 $ — $ 1,493,632 Accounts payable and accrued liabilities 42 8,066 1,796 199,265 (72,486 ) 136,683 Dividends payable 38,949 — — — — 38,949 Deferred management rights proceeds — — — 181,603 — 181,603 Deferred income tax liabilities, net 1,216 — 544 (1,240 ) — 520 Other liabilities — — 87,367 60,182 (13 ) 147,536 Intercompany payables, net 578,740 575,301 — 297,874 (1,451,915 ) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 510 1 1 2,387 (2,389 ) 510 Additional paid-in-capital 889,085 897,746 2,812,431 1,213,325 (4,923,502 ) 889,085 Treasury stock (10,748 ) — — — — (10,748 ) Accumulated deficit (496,883 ) (178,569 ) 757,567 (495,393 ) (83,605 ) (496,883 ) Accumulated other comprehensive loss (24,999 ) — — (24,999 ) 24,999 (24,999 ) Total stockholders’ equity 356,965 719,178 3,569,999 695,320 (4,984,497 ) 356,965 Total liabilities and stockholders’ equity $ 975,912 $ 2,795,509 $ 3,659,706 $ 1,433,672 $ (6,508,911 ) $ 2,355,888 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ 6,869 $ — $ 1,622,674 $ 353,273 $ — $ 1,982,816 Cash and cash equivalents - unrestricted 23 1,578 158 54,532 — 56,291 Cash and cash equivalents - restricted — — — 22,355 — 22,355 Notes receivable — — — 152,560 — 152,560 Trade receivables, less allowance — — — 55,033 — 55,033 Prepaid expenses and other assets 7,111 — 116,218 57,264 (118,214 ) 62,379 Intercompany receivables, net — — 1,284,587 — (1,284,587 ) — Investments 976,809 2,795,064 531,628 697,381 (5,000,882 ) — Total assets $ 990,812 $ 2,796,642 $ 3,555,265 $ 1,392,398 $ (6,403,683 ) $ 2,331,434 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,431,032 $ — $ 678 $ — $ 1,431,710 Accounts payable and accrued liabilities 103 8,153 1,390 262,234 (118,497 ) 153,383 Dividends payable 36,868 — — — — 36,868 Deferred management rights proceeds — — — 183,119 — 183,119 Deferred income tax liabilities, net 1,609 — 599 (1,045 ) — 1,163 Other liabilities — — 84,746 60,600 283 145,629 Intercompany payables, net 572,670 506,341 — 205,576 (1,284,587 ) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 513 1 1 2,387 (2,389 ) 513 Additional paid-in-capital 887,501 996,425 2,812,431 1,213,324 (5,022,180 ) 887,501 Treasury stock (10,001 ) — — — — (10,001 ) Accumulated deficit (473,404 ) (145,310 ) 656,098 (509,428 ) (1,360 ) (473,404 ) Accumulated other comprehensive loss (25,047 ) — — (25,047 ) 25,047 (25,047 ) Total stockholders’ equity 379,562 851,116 3,468,530 681,236 (5,000,882 ) 379,562 Total liabilities and stockholders’ equity $ 990,812 $ 2,796,642 $ 3,555,265 $ 1,392,398 $ (6,403,683 ) $ 2,331,434
Condensed Consolidating Statement of Operations and Comprehensive Income	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 111,331 $ — $ 111,331 Food and beverage — — — 127,217 — 127,217 Other hotel revenue — — 77,689 27,745 (81,653 ) 23,781 Entertainment 59 — — 33,873 (46 ) 33,886 Total revenues 59 — 77,689 300,166 (81,699 ) 296,215 Operating expenses: Rooms — — — 28,140 — 28,140 Food and beverage — — — 67,998 — 67,998 Other hotel expenses — — 10,944 140,127 (77,580 ) 73,491 Management fees — — — 5,501 — 5,501 Total hotel operating expenses — — 10,944 241,766 (77,580 ) 175,130 Entertainment — — — 20,880 (46 ) 20,834 Corporate 111 433 1 6,352 — 6,897 Corporate overhead allocation 2,303 — 1,770 — (4,073 ) — Depreciation and amortization 48 — 14,755 11,606 — 26,409 Total operating expenses 2,462 433 27,470 280,604 (81,699 ) 229,270 Operating income (loss) (2,403 ) (433 ) 50,219 19,562 — 66,945 Interest expense — (16,339 ) 94 229 — (16,016 ) Interest income — — — 3,008 — 3,008 Loss from joint ventures — — — (1,058 ) — (1,058 ) Other gains and (losses), net — — (87 ) (46 ) — (133 ) Income (loss) before income taxes (2,403 ) (16,772 ) 50,226 21,695 — 52,746 Provision for income taxes — — (97 ) (1,318 ) — (1,415 ) Equity in subsidiaries’ earnings, net 53,734 — — — (53,734 ) — Net income (loss) $ 51,331 $ (16,772 ) $ 50,129 $ 20,377 $ (53,734 ) $ 51,331 Comprehensive income (loss) $ 51,334 $ (16,772 ) $ 50,129 $ 20,380 $ (53,737 ) $ 51,334 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 104,540 $ — $ 104,540 Food and beverage — — — 119,042 — 119,042 Other hotel revenue — — 74,776 26,685 (79,208 ) 22,253 Entertainment 58 — — 28,190 (47 ) 28,201 Total revenues 58 — 74,776 278,457 (79,255 ) 274,036 Operating expenses: Rooms — — — 26,802 — 26,802 Food and beverage — — — 64,789 — 64,789 Other hotel expenses — — 10,900 133,878 (74,669 ) 70,109 Management fees — — — 3,791 — 3,791 Total hotel operating expenses — — 10,900 229,260 (74,669 ) 165,491 Entertainment — — — 16,705 (46 ) 16,659 Corporate 121 333 2 5,817 — 6,273 Corporate overhead allocation 2,534 — 2,006 — (4,540 ) — Preopening costs — — — 199 — 199 Depreciation and amortization 31 — 14,729 13,639 — 28,399 Total operating expenses 2,686 333 27,637 265,620 (79,255 ) 217,021 Operating income (loss) (2,628 ) (333 ) 47,139 12,837 — 57,015 Interest expense — (17,912 ) 2 96 — (17,814 ) Interest income — — — 3,393 — 3,393 Other gains and (losses), net (60 ) — — (279 ) — (339 ) Income (loss) before income taxes (2,688 ) (18,245 ) 47,141 16,047 — 42,255 (Provision) benefit for income taxes — 22 (123 ) (765 ) — (866 ) Equity in subsidiaries’ earnings, net 44,077 — — — (44,077 ) — Net income (loss) $ 41,389 $ (18,223 ) $ 47,018 $ 15,282 $ (44,077 ) $ 41,389 Comprehensive income (loss) $ 41,426 $ (18,223 ) $ 47,018 $ 15,319 $ (44,114 ) $ 41,426 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Six Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 208,300 $ — $ 208,300 Food and beverage — — — 249,450 — 249,450 Other hotel revenue — — 156,336 56,459 (164,025 ) 48,770 Entertainment 148 — — 51,166 (122 ) 51,192 Total revenues 148 — 156,336 565,375 (164,147 ) 557,712 Operating expenses: Rooms — — — 54,121 — 54,121 Food and beverage — — — 136,255 — 136,255 Other hotel expenses — — 21,889 280,409 (156,119 ) 146,179 Management fees — — — 10,838 — 10,838 Total hotel operating expenses — — 21,889 481,623 (156,119 ) 347,393 Entertainment — — — 35,652 (122 ) 35,530 Corporate 194 807 2 12,865 — 13,868 Corporate overhead allocation 4,470 — 3,436 — (7,906 ) — Depreciation and amortization 80 — 29,498 25,604 — 55,182 Total operating expenses 4,744 807 54,825 555,744 (164,147 ) 451,973 Operating income (loss) (4,596 ) (807 ) 101,511 9,631 — 105,739 Interest expense — (32,452 ) 135 262 — (32,055 ) Interest income 28 — — 6,123 — 6,151 Loss from joint ventures — — — (1,448 ) — (1,448 ) Other gains and (losses), net — — (87 ) (93 ) — (180 ) Income (loss) before income taxes (4,568 ) (33,259 ) 101,559 14,475 — 78,207 Provision for income taxes — — (90 ) (440 ) — (530 ) Equity in subsidiaries’ earnings, net 82,245 — — — (82,245 ) — Net income (loss) $ 77,677 $ (33,259 ) $ 101,469 $ 14,035 $ (82,245 ) $ 77,677 Comprehensive income (loss) $ 77,725 $ (33,259 ) $ 101,469 $ 14,083 $ (82,293 ) $ 77,725 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 199,261 $ — $ 199,261 Food and beverage — — — 237,373 — 237,373 Other hotel revenue — — 150,336 54,353 (159,034 ) 45,655 Entertainment 115 — — 44,897 (117 ) 44,895 Total revenues 115 — 150,336 535,884 (159,151 ) 527,184 Operating expenses: Rooms — — — 52,869 — 52,869 Food and beverage — — — 129,864 — 129,864 Other hotel expenses — — 21,868 268,657 (150,120 ) 140,405 Management fees — — — 7,303 — 7,303 Total hotel operating expenses — — 21,868 458,693 (150,120 ) 330,441 Entertainment — — — 29,938 (117 ) 29,821 Corporate 173 649 2 12,543 — 13,367 Corporate overhead allocation 4,999 — 3,915 — (8,914 ) — Preopening costs — — — 791 — 791 Impairment and other charges — — — 2,890 — 2,890 Depreciation and amortization 63 — 29,515 27,391 — 56,969 Total operating expenses 5,235 649 55,300 532,246 (159,151 ) 434,279 Operating income (loss) (5,120 ) (649 ) 95,036 3,638 — 92,905 Interest expense — (31,763 ) 2 134 — (31,627 ) Interest income — — — 6,401 — 6,401 Other gains and (losses), net (20,246 ) — — (325 ) — (20,571 ) Income (loss) before income taxes (25,366 ) (32,412 ) 95,038 9,848 — 47,108 (Provision) benefit for income taxes — 22 (124 ) (1,085 ) — (1,187 ) Equity in subsidiaries’ earnings, net 71,287 — — — (71,287 ) — Net income (loss) $ 45,921 $ (32,390 ) $ 94,914 $ 8,763 $ (71,287 ) $ 45,921 Comprehensive income (loss) $ 46,017 $ (32,390 ) $ 94,914 $ 8,859 $ (71,383 ) $ 46,017
Condensed Consolidating Statement of Cash Flows	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2016 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ 102,768 $ (60,725 ) $ 12,326 $ 72,533 $ — $ 126,902 Purchases of property and equipment (8,105 ) — (12,497 ) (35,276 ) — (55,878 ) Proceeds from sale of Peterson LOI 6,785 — — — — 6,785 Investment in Gaylord Rockies joint venture — — — (31,944 ) — (31,944 ) Increase in restricted cash and cash equivalents — — — (7,611 ) — (7,611 ) Other investing activities — — 28 (1,928 ) — (1,900 ) Net cash used in investing activities (1,320 ) — (12,469 ) (76,759 ) — (90,548 ) Net borrowings under credit facility — 67,500 — — — 67,500 Repayments under term loan B — (2,000 ) — — — (2,000 ) Repayment of note payable related to purchase of AC Hotel — (6,000 ) — — — (6,000 ) Repurchase of Company stock for retirement (24,811 ) — — — — (24,811 ) Payment of dividend (74,648 ) — — — — (74,648 ) Proceeds from exercise of stock options 1,142 — — — — 1,142 Payment of tax withholdings for share-based compensation (3,087 ) — — — — (3,087 ) Other financing activities — — — (9 ) — (9 ) Net cash provided by (used in) financing activities (101,404 ) 59,500 — (9 ) — (41,913 ) Net change in cash and cash equivalents 44 (1,225 ) (143 ) (4,235 ) — (5,559 ) Cash and cash equivalents at beginning of period 23 1,578 158 54,532 — 56,291 Cash and cash equivalents at end of period $ 67 $ 353 $ 15 $ 50,297 $ — $ 50,732 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2015 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Net cash provided by (used in) operating activities $ 208,725 $ (140,988 ) $ 398 $ 11,121 $ — $ 79,256 Purchases of property and equipment (53 ) — (387 ) (38,378 ) — (38,818 ) Proceeds from sale of Peterson LOI 10,000 — — — — 10,000 Increase in restricted cash and cash equivalents — — — (7,860 ) — (7,860 ) Other investing activities — — — 340 — 340 Net cash provide by (used in) investing activities 9,947 — (387 ) (45,898 ) — (36,338 ) Net repayments under credit facility — (246,000 ) — — — (246,000 ) Repayments under term loan B — (2,000 ) — — — (2,000 ) Issuance of senior notes — 400,000 — — — 400,000 Repurchase of common stock warrants (154,681 ) — — — — (154,681 ) Deferred financing costs paid — (10,723 ) — — — (10,723 ) Payment of dividend (62,070 ) — — — — (62,070 ) Proceeds from exercise of stock option and purchase plans 1,430 — — — — 1,430 Payment of tax withholdings for share-based compensation (3,646 ) — — — — (3,646 ) Other financing activities — — — (317 ) — (317 ) Net cash provided by (used in) financing activities (218,967 ) 141,277 — (317 ) — (78,007 ) Net change in cash and cash equivalents (295 ) 289 11 (35,094 ) — (35,089 ) Cash and cash equivalents at beginning of period 392 1,001 36 74,979 — 76,408 Cash and cash equivalents at end of period $ 97 $ 1,290 $ 47 $ 39,885 $ — $ 41,319

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Jun. 30, 2016
Accounting Policies [Abstract]
Percentage of owned subsidiaries	100.00%

Basis of Presentation - Acquisi

Basis of Presentation - Acquisitions and Investments - Additional Information (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2014USD ($)aRoom	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Total Debt	$ 1,493,632		$ 1,431,710
AC Hotel Note Payable [Member]
Business Acquisition [Line Items]
Total Debt		$ 6,000	$ 6,000
Aloft Hotel National Harbor [Member]
Business Acquisition [Line Items]
Number of room purchased | Room		192
Purchase price of hotel		$ 21,800
Purchase of additional land | a		0.5
Purchase price paid		$ 21,200
Hotel opened date	2015-04

Deferred Management Rights Pr31

Deferred Management Rights Proceeds - Additional Information (Detail) - USD ($) $ in Millions	Oct. 01, 2012	Jun. 30, 2016
Real Estate [Abstract]
Sales price of management rights and intellectual property	$ 210
Purchase price to the Management Rights	190
Purchase price IP Rights	$ 20
Term of management rights for income amortization		65 years

Income Per Share - Weighted Ave

Income Per Share - Weighted Average Number of Common Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Weighted average shares outstanding - basic	50,977	51,269	51,011	51,196
Effect of dilutive stock-based compensation	244	332	285	366
Weighted average shares outstanding - diluted	51,221	51,601	51,296	51,562

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Equity [Abstract]
Other comprehensive (income) loss, before reclassifications	$ 0	$ 0	$ 0	$ 0
Amounts reclassified from AOCI, before tax	$ 100,000	$ 100,000	$ 100,000	$ 200,000

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 3,288,956	$ 3,239,135
Accumulated depreciation	(1,304,921)	(1,256,319)
Property and equipment, net	1,984,035	1,982,816
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	263,170	255,179
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	2,381,759	2,369,851
Furniture, fixtures and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	612,000	603,529
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 32,027	$ 10,576

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Note	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Note	Jun. 30, 2015USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 3,008	$ 3,393	$ 6,151	$ 6,401
National Bonds [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of notes receivable | Note	2		2
Interest income	$ 3,000	$ 3,400	$ 6,100	6,400
Payment received relating to notes receivables			$ 3,300	$ 3,400

Debt - Summary of Debt and Capi

Debt - Summary of Debt and Capital Lease Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total Debt	$ 1,493,632	$ 1,431,710
Less amounts due within one year	(19)	(6,019)
Total long-term debt	1,493,613	1,425,691
$400 Million Term Loan B [Member]
Debt Instrument [Line Items]
Total Debt	386,135	387,543
$350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Total Debt	345,324	344,893
$400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Total Debt	393,906	393,531
AC Hotel Note Payable [Member]
Debt Instrument [Line Items]
Total Debt		6,000	$ 6,000
$700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total Debt	367,599	299,065
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Total Debt	$ 668	$ 678

Debt - Summary of Debt and Ca37

Debt - Summary of Debt and Capital Lease Obligations (Parenthetical) (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
$400 Million Term Loan B [Member]
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ 5,865,000	$ 6,457,000
Total credit facility	$ 400,000,000
Maturity date for credit facility	Jan. 15, 2021
Spread rate added to LIBOR	2.75%
$350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Total Senior Notes	$ 350,000,000
Interest rate of Senior Notes	5.00%
Unamortized deferred financing costs	$ 4,676,000	5,107,000
Maturity date for Senior Notes	Apr. 15, 2021
$400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Total Senior Notes	$ 400,000,000
Interest rate of Senior Notes	5.00%
Unamortized deferred financing costs	$ 6,094,000	6,469,000
Maturity date for Senior Notes	Apr. 15, 2023
$700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ 6,301,000	$ 7,335,000
Total credit facility	$ 700,000,000
Maturity date for credit facility	Jun. 5, 2019
Spread rate added to LIBOR	1.65%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Total consideration for repurchase of warrants		$ 154,681
3.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Warrants repurchased	4.7
Total consideration for repurchase of warrants	$ 154,700
Gain (loss) on change in the fair value of the derivative liability		$ 20,200

Stock Plans - Additional Inform

Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost on stock-based compensation plans	$ 1.5	$ 1.5	$ 3.1	$ 3.1
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted by Company			0.1
Weighted-average grant-date fair value of restricted stock awards granted			$ 47.53
Restricted stock award, outstanding	0.5		0.5		0.5

Pension and Postretirement Be40

Pension and Postretirement Benefits Other Than Pension Plans - Net Periodic Pension and Postretirement Benefit (Income) Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 953	$ 986	$ 1,930	$ 1,972
Expected return on plan assets	(1,006)	(1,188)	(2,040)	(2,376)
Amortization of net actuarial loss	322	309	614	617
Total net periodic pension/postretirement benefit (income) expense	269	107	504	213
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	30	53	60	106
Amortization of net actuarial loss	62	118	121	236
Amortization of prior service credit	(329)	(329)	(657)	(657)
Total net periodic pension/postretirement benefit (income) expense	$ (237)	$ (158)	$ (476)	$ (315)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 1,415,000	$ 866,000	$ 530,000	$ 1,187,000
Unrecognized tax benefits	$ 0		$ 0		$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)ft²Room
Contingencies And Commitments [Line Items]
Capital contribution	$ 31,944,000
Gaylord Rockies Resort and Convention Center [Member]
Contingencies And Commitments [Line Items]
Number of hotel rooms | Room	1,500
Area of exhibition, meeting, pre-functional and outdoor space | ft²	485,000
Opening date of hotel	2018-11
Estimated project cost	$ 800,000,000
Investment percentage	35.00%
Expected total contribution to the project	$ 86,100,000
Capital contribution	31,900,000
Maximum repayment guarantee of construction loan and mezzanine debt	21,000,000
Principal amount of loan	500,000,000
Repayment guarantee of construction loan and mezzanine debt, amount on completion of first milestone	14,000,000
Repayment guarantee of construction loan and mezzanine debt, amount on completion of final milestone	8,750,000
Estimated pro rata share of interest amount	9,800,000
Guarantee obligations exposure under mezzanine debt	8,750,000
Guarantee Liability	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule Of Equity [Line Items]
Cash Dividend on Common Stock	$ 0.75	$ 0.75	$ 0.65	$ 1.50	$ 1.30
Aggregated Dividend Paid	$ 38,300,000	$ 38,200,000
Dividend payable date declared	Jun. 13, 2016	Feb. 26, 2016
Common stock Dividend Payable Date	Jul. 15, 2016	Apr. 15, 2016
Dividend payable date of record	Jun. 30, 2016	Mar. 31, 2016
2015 Stock Repurchase Program [Member]
Schedule Of Equity [Line Items]
Authorized amount for share repurchase program	$ 100,000,000			$ 100,000,000
Company repurchased, shares		0.5
Repurchase of Company stock for retirement		$ 24,800,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 19,605	$ 19,289
Total assets measured at fair value	19,605	19,289
Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	19,605	19,289
Total assets measured at fair value	$ 19,605	$ 19,289

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivables, carrying value	$ 155,357	$ 152,560
Bonds A Series [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivables, carrying value	$ 84,900
Maturity date	Jul. 1, 2034
Bonds B Series [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivables, carrying value	$ 70,400
Notes receivable, fair value	$ 62,000
Maturity date	Sep. 1, 2037

Financial Reporting By Busine46

Financial Reporting By Business Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Segment
Segment Reporting [Abstract]
Number of business segments	3

Financial Reporting by Busine47

Financial Reporting by Business Segments - Segments Internal Financial Reports (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues	$ 296,215	$ 274,036	$ 557,712	$ 527,184
Depreciation and amortization	26,409	28,399	55,182	56,969
Preopening costs		(199)		(791)
Impairment and other charges				(2,890)
Operating income	66,945	57,015	105,739	92,905
Interest expense	(16,016)	(17,814)	(32,055)	(31,627)
Interest income	3,008	3,393	6,151	6,401
Loss from joint ventures	(1,058)		(1,448)
Other gains and (losses), net	(133)	(339)	(180)	(20,571)
Income before income taxes	52,746	42,255	78,207	47,108
Operating Segments [Member] | Hospitality [Member]
Segment Reporting Information [Line Items]
Revenues	262,329	245,835	506,520	482,289
Depreciation and amortization	24,181	26,349	50,650	52,792
Operating income	63,018	53,995	108,477	99,056
Operating Segments [Member] | Entertainment (Previously Opry and Attractions) [Member]
Segment Reporting Information [Line Items]
Revenues	33,886	28,201	51,192	44,895
Depreciation and amortization	1,561	1,353	3,208	2,765
Operating income	11,491	10,189	12,454	12,309
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	667	697	1,324	1,412
Operating income	$ (7,564)	(6,970)	$ (15,192)	(14,779)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Preopening costs		$ (199)		(791)
Impairment and other charges				$ (2,890)

Information Concerning Guaran48

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)Entity
Condensed Financial Statements, Captions [Line Items]
Number of wholly owned subsidiaries | Entity	4
Ownership percentage in subsidiaries	100.00%
$350 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Interest rate of Senior Notes	5.00%
Senior notes, principal amount	$ 350,000,000
$400 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Interest rate of Senior Notes	5.00%
Senior notes, principal amount	$ 400,000,000

Information Concerning Guaran49

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
ASSETS:
Property and equipment, net of accumulated depreciation	$ 1,984,035	$ 1,982,816
Cash and cash equivalents - unrestricted	50,732	56,291	$ 41,319	$ 76,408
Cash and cash equivalents - restricted	29,966	22,355
Notes receivable	155,357	152,560
Trade receivables, less allowance	52,568	55,033
Prepaid expenses and other assets	83,230	62,379
Total assets	2,355,888	2,331,434
LIABILITIES AND STOCKHOLDERS' EQUITY:
Debt and capital lease obligations	1,493,632	1,431,710
Accounts payable and accrued liabilities	136,683	153,383
Dividends payable	38,949	36,868
Deferred management rights proceeds	181,603	183,119
Deferred income tax liabilities, net	520	1,163
Other liabilities	147,536	145,629
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	510	513
Additional paid-in-capital	889,085	887,501
Treasury stock	(10,748)	(10,001)
Accumulated deficit	(496,883)	(473,404)
Accumulated other comprehensive loss	(24,999)	(25,047)
Total stockholders' equity	356,965	379,562
Total liabilities and stockholders' equity	2,355,888	2,331,434
Parent Guarantor [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	14,894	6,869
Cash and cash equivalents - unrestricted	67	23	97	392
Prepaid expenses and other assets	32	7,111
Investments	960,919	976,809
Total assets	975,912	990,812
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable and accrued liabilities	42	103
Dividends payable	38,949	36,868
Deferred income tax liabilities, net	1,216	1,609
Intercompany payables, net	578,740	572,670
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	510	513
Additional paid-in-capital	889,085	887,501
Treasury stock	(10,748)	(10,001)
Accumulated deficit	(496,883)	(473,404)
Accumulated other comprehensive loss	(24,999)	(25,047)
Total stockholders' equity	356,965	379,562
Total liabilities and stockholders' equity	975,912	990,812
Issuer [Member]
ASSETS:
Cash and cash equivalents - unrestricted	353	1,578	1,290	1,001
Prepaid expenses and other assets	92
Investments	2,795,064	2,795,064
Total assets	2,795,509	2,796,642
LIABILITIES AND STOCKHOLDERS' EQUITY:
Debt and capital lease obligations	1,492,964	1,431,032
Accounts payable and accrued liabilities	8,066	8,153
Intercompany payables, net	575,301	506,341
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	897,746	996,425
Accumulated deficit	(178,569)	(145,310)
Total stockholders' equity	719,178	851,116
Total liabilities and stockholders' equity	2,795,509	2,796,642
Guarantors [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,605,596	1,622,674
Cash and cash equivalents - unrestricted	15	158	47	36
Prepaid expenses and other assets	71,046	116,218
Intercompany receivables, net	1,451,915	1,284,587
Investments	531,134	531,628
Total assets	3,659,706	3,555,265
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable and accrued liabilities	1,796	1,390
Deferred income tax liabilities, net	544	599
Other liabilities	87,367	84,746
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	2,812,431	2,812,431
Accumulated deficit	757,567	656,098
Total stockholders' equity	3,569,999	3,468,530
Total liabilities and stockholders' equity	3,659,706	3,555,265
Non-Guarantors [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	363,545	353,273
Cash and cash equivalents - unrestricted	50,297	54,532	$ 39,885	$ 74,979
Cash and cash equivalents - restricted	29,966	22,355
Notes receivable	155,357	152,560
Trade receivables, less allowance	52,568	55,033
Prepaid expenses and other assets	84,559	57,264
Investments	697,380	697,381
Total assets	1,433,672	1,392,398
LIABILITIES AND STOCKHOLDERS' EQUITY:
Debt and capital lease obligations	668	678
Accounts payable and accrued liabilities	199,265	262,234
Deferred management rights proceeds	181,603	183,119
Deferred income tax liabilities, net	(1,240)	(1,045)
Other liabilities	60,182	60,600
Intercompany payables, net	297,874	205,576
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	2,387	2,387
Additional paid-in-capital	1,213,325	1,213,324
Accumulated deficit	(495,393)	(509,428)
Accumulated other comprehensive loss	(24,999)	(25,047)
Total stockholders' equity	695,320	681,236
Total liabilities and stockholders' equity	1,433,672	1,392,398
Eliminations [Member]
ASSETS:
Prepaid expenses and other assets	(72,499)	(118,214)
Intercompany receivables, net	(1,451,915)	(1,284,587)
Investments	(4,984,497)	(5,000,882)
Total assets	(6,508,911)	(6,403,683)
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable and accrued liabilities	(72,486)	(118,497)
Other liabilities	(13)	283
Intercompany payables, net	(1,451,915)	(1,284,587)
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	(2,389)	(2,389)
Additional paid-in-capital	(4,923,502)	(5,022,180)
Accumulated deficit	(83,605)	(1,360)
Accumulated other comprehensive loss	24,999	25,047
Total stockholders' equity	(4,984,497)	(5,000,882)
Total liabilities and stockholders' equity	$ (6,508,911)	$ (6,403,683)

Information Concerning Guaran50

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Operations and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Rooms	$ 111,331	$ 104,540	$ 208,300	$ 199,261
Food and beverage	127,217	119,042	249,450	237,373
Other hotel revenue	23,781	22,253	48,770	45,655
Entertainment	33,886	28,201	51,192	44,895
Total revenues	296,215	274,036	557,712	527,184
Operating expenses:
Rooms	28,140	26,802	54,121	52,869
Food and beverage	67,998	64,789	136,255	129,864
Other hotel expenses	73,491	70,109	146,179	140,405
Management fees	5,501	3,791	10,838	7,303
Total hotel operating expenses	175,130	165,491	347,393	330,441
Entertainment	20,834	16,659	35,530	29,821
Corporate	6,897	6,273	13,868	13,367
Preopening costs		199		791
Impairment and other charges				2,890
Depreciation and amortization	26,409	28,399	55,182	56,969
Total operating expenses	229,270	217,021	451,973	434,279
Operating income (loss)	66,945	57,015	105,739	92,905
Interest expense	(16,016)	(17,814)	(32,055)	(31,627)
Interest income	3,008	3,393	6,151	6,401
Loss from joint ventures	(1,058)		(1,448)
Other gains and (losses), net	(133)	(339)	(180)	(20,571)
Income (loss) before income taxes	52,746	42,255	78,207	47,108
(Provision) benefit for income taxes	(1,415)	(866)	(530)	(1,187)
Net income	51,331	41,389	77,677	45,921
Comprehensive income (loss)	51,334	41,426	77,725	46,017
Parent Guarantor [Member]
Revenues:
Entertainment	59	58	148	115
Total revenues	59	58	148	115
Operating expenses:
Corporate	111	121	194	173
Corporate overhead allocation	2,303	2,534	4,470	4,999
Depreciation and amortization	48	31	80	63
Total operating expenses	2,462	2,686	4,744	5,235
Operating income (loss)	(2,403)	(2,628)	(4,596)	(5,120)
Interest income			28
Other gains and (losses), net		(60)		(20,246)
Income (loss) before income taxes	(2,403)	(2,688)	(4,568)	(25,366)
Equity in subsidiaries' earnings, net	53,734	44,077	82,245	71,287
Net income	51,331	41,389	77,677	45,921
Comprehensive income (loss)	51,334	41,426	77,725	46,017
Issuer [Member]
Operating expenses:
Corporate	433	333	807	649
Total operating expenses	433	333	807	649
Operating income (loss)	(433)	(333)	(807)	(649)
Interest expense	(16,339)	(17,912)	(32,452)	(31,763)
Income (loss) before income taxes	(16,772)	(18,245)	(33,259)	(32,412)
(Provision) benefit for income taxes		22		22
Net income	(16,772)	(18,223)	(33,259)	(32,390)
Comprehensive income (loss)	(16,772)	(18,223)	(33,259)	(32,390)
Guarantors [Member]
Revenues:
Other hotel revenue	77,689	74,776	156,336	150,336
Total revenues	77,689	74,776	156,336	150,336
Operating expenses:
Other hotel expenses	10,944	10,900	21,889	21,868
Total hotel operating expenses	10,944	10,900	21,889	21,868
Corporate	1	2	2	2
Corporate overhead allocation	1,770	2,006	3,436	3,915
Depreciation and amortization	14,755	14,729	29,498	29,515
Total operating expenses	27,470	27,637	54,825	55,300
Operating income (loss)	50,219	47,139	101,511	95,036
Interest expense	94	2	135	2
Other gains and (losses), net	(87)		(87)
Income (loss) before income taxes	50,226	47,141	101,559	95,038
(Provision) benefit for income taxes	(97)	(123)	(90)	(124)
Net income	50,129	47,018	101,469	94,914
Comprehensive income (loss)	50,129	47,018	101,469	94,914
Non-Guarantors [Member]
Revenues:
Rooms	111,331	104,540	208,300	199,261
Food and beverage	127,217	119,042	249,450	237,373
Other hotel revenue	27,745	26,685	56,459	54,353
Entertainment	33,873	28,190	51,166	44,897
Total revenues	300,166	278,457	565,375	535,884
Operating expenses:
Rooms	28,140	26,802	54,121	52,869
Food and beverage	67,998	64,789	136,255	129,864
Other hotel expenses	140,127	133,878	280,409	268,657
Management fees	5,501	3,791	10,838	7,303
Total hotel operating expenses	241,766	229,260	481,623	458,693
Entertainment	20,880	16,705	35,652	29,938
Corporate	6,352	5,817	12,865	12,543
Preopening costs		199		791
Impairment and other charges				2,890
Depreciation and amortization	11,606	13,639	25,604	27,391
Total operating expenses	280,604	265,620	555,744	532,246
Operating income (loss)	19,562	12,837	9,631	3,638
Interest expense	229	96	262	134
Interest income	3,008	3,393	6,123	6,401
Loss from joint ventures	(1,058)		(1,448)
Other gains and (losses), net	(46)	(279)	(93)	(325)
Income (loss) before income taxes	21,695	16,047	14,475	9,848
(Provision) benefit for income taxes	(1,318)	(765)	(440)	(1,085)
Net income	20,377	15,282	14,035	8,763
Comprehensive income (loss)	20,380	15,319	14,083	8,859
Eliminations [Member]
Revenues:
Other hotel revenue	(81,653)	(79,208)	(164,025)	(159,034)
Entertainment	(46)	(47)	(122)	(117)
Total revenues	(81,699)	(79,255)	(164,147)	(159,151)
Operating expenses:
Other hotel expenses	(77,580)	(74,669)	(156,119)	(150,120)
Total hotel operating expenses	(77,580)	(74,669)	(156,119)	(150,120)
Entertainment	(46)	(46)	(122)	(117)
Corporate overhead allocation	(4,073)	(4,540)	(7,906)	(8,914)
Total operating expenses	(81,699)	(79,255)	(164,147)	(159,151)
Equity in subsidiaries' earnings, net	(53,734)	(44,077)	(82,245)	(71,287)
Net income	(53,734)	(44,077)	(82,245)	(71,287)
Comprehensive income (loss)	$ (53,737)	$ (44,114)	$ (82,293)	$ (71,383)

Information Concerning Guaran51

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 126,902	$ 79,256
Purchases of property and equipment	(55,878)	(38,818)
Proceeds from sale of Peterson LOI	6,785	10,000
Investment in Gaylord Rockies joint venture	(31,944)
Increase in restricted cash and cash equivalents	(7,611)	(7,860)
Other investing activities	(1,900)	340
Net cash provided by (used in) investing activities	(90,548)	(36,338)
Net borrowings under credit facility	67,500	(246,000)
Repayments under term loan B	(2,000)	(2,000)
Repayment of note payable related to purchase of AC Hotel	(6,000)
Issuance of senior notes		400,000
Repurchase of Company stock for retirement	(24,811)
Repurchase of common stock warrants		(154,681)
Deferred financing costs paid		(10,723)
Payment of dividend	(74,648)	(62,070)
Proceeds from exercise of stock option and purchase plans	1,142	1,430
Payment of tax withholdings for share-based compensation	(3,087)	(3,646)
Other financing activities	(9)	(317)
Net cash provided by (used in) financing activities	(41,913)	(78,007)
Net change in cash and cash equivalents	(5,559)	(35,089)
Cash and cash equivalents - unrestricted, beginning of period	56,291	76,408
Cash and cash equivalents - unrestricted, end of period	50,732	41,319
Parent Guarantor [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	102,768	208,725
Purchases of property and equipment	(8,105)	(53)
Proceeds from sale of Peterson LOI	6,785	10,000
Net cash provided by (used in) investing activities	(1,320)	9,947
Repurchase of Company stock for retirement	(24,811)
Repurchase of common stock warrants		(154,681)
Payment of dividend	(74,648)	(62,070)
Proceeds from exercise of stock option and purchase plans	1,142	1,430
Payment of tax withholdings for share-based compensation	(3,087)	(3,646)
Net cash provided by (used in) financing activities	(101,404)	(218,967)
Net change in cash and cash equivalents	44	(295)
Cash and cash equivalents - unrestricted, beginning of period	23	392
Cash and cash equivalents - unrestricted, end of period	67	97
Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(60,725)	(140,988)
Net borrowings under credit facility	67,500	(246,000)
Repayments under term loan B	(2,000)	(2,000)
Repayment of note payable related to purchase of AC Hotel	(6,000)
Issuance of senior notes		400,000
Deferred financing costs paid		(10,723)
Net cash provided by (used in) financing activities	59,500	141,277
Net change in cash and cash equivalents	(1,225)	289
Cash and cash equivalents - unrestricted, beginning of period	1,578	1,001
Cash and cash equivalents - unrestricted, end of period	353	1,290
Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	12,326	398
Purchases of property and equipment	(12,497)	(387)
Other investing activities	28
Net cash provided by (used in) investing activities	(12,469)	(387)
Net change in cash and cash equivalents	(143)	11
Cash and cash equivalents - unrestricted, beginning of period	158	36
Cash and cash equivalents - unrestricted, end of period	15	47
Non-Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	72,533	11,121
Purchases of property and equipment	(35,276)	(38,378)
Investment in Gaylord Rockies joint venture	(31,944)
Increase in restricted cash and cash equivalents	(7,611)	(7,860)
Other investing activities	(1,928)	340
Net cash provided by (used in) investing activities	(76,759)	(45,898)
Other financing activities	(9)	(317)
Net cash provided by (used in) financing activities	(9)	(317)
Net change in cash and cash equivalents	(4,235)	(35,094)
Cash and cash equivalents - unrestricted, beginning of period	54,532	74,979
Cash and cash equivalents - unrestricted, end of period	$ 50,297	$ 39,885