Ryman Hospitality Properties (RHP) 10-K 26 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2019	Jun. 29, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Ryman Hospitality Properties, Inc.
Entity Central Index Key	1,040,829
Trading Symbol	RHP
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,335,739
Entity Listing, Par Value Per Share	$ 0.01
Entity Public Float			$ 3,694,974,051

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS:
Property and equipment, net of accumulated depreciation (including $1,018,499 and $0 from VIE's, respectively)	$ 3,149,095	$ 2,065,657
Cash and cash equivalents - unrestricted	103,437	57,557	$ 59,128
Cash and cash equivalents - restricted	45,652	21,153	$ 22,062
Notes receivable	122,209	111,423
Investment in Gaylord Rockies joint venture		88,685
Trade receivables, less allowance of $763 and $651, respectively	67,923	57,520
Deferred income tax assets, net	40,557	50,117
Prepaid expenses and other assets (including $20,419 and $0 from VIEs, respectively)	78,240	67,831
Intangible assets (including $241,973 and $0 from VIE's, respectively)	246,770	4,285
Total assets	3,853,883	2,524,228
LIABILITIES AND EQUITY:
Debt and capital lease obligations (including $494,578 and $0 from VIE's, respectively)	2,441,895	1,591,392
Accounts payable and accrued liabilities (including $70,215 and $0 from VIE's, respectively)	274,890	179,649
Dividends payable	45,019	42,129
Deferred management rights proceeds	174,026	177,057
Other liabilities	161,043	155,845
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	287,433
Stockholders' equity:
Preferred stock, $.01 par value, 100,000 shares authorized, no shares issued or outstanding
Common stock, $.01 par value, 400,000 shares authorized, 51,336 and 51,198 shares issued and outstanding, respectively	513	512
Additional paid-in capital	900,795	896,759
Treasury stock of 592 and 567 shares, at cost	(15,183)	(13,253)
Accumulated deficit	(388,524)	(479,170)
Accumulated other comprehensive loss	(28,024)	(26,692)
Total stockholders' equity	469,577	378,156
Total liabilities and stockholders' equity	$ 3,853,883	$ 2,524,228

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 3,149,095	$ 2,065,657
Prepaid expenses and other assets	78,240	67,831
Intangible assets	246,770	4,285
Debt and capital lease obligations	2,441,895	1,591,392
Accounts payable and accrued liabilities	274,890	179,649
Accounts Receivable, Net [Abstract]
Allowance for doubtful accounts receivable	$ 763	$ 651
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	51,336,000	51,198,000
Common stock, shares outstanding (in shares)	51,336,000	51,198,000
Treasury Stock, Shares [Abstract]
Treasury stock, shares (in shares)	592,000	567,000
Variable Interest Entity [Member]
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 1,018,499	$ 0
Prepaid expenses and other assets	20,419	0
Intangible assets	241,973	0
Debt and capital lease obligations	494,578	0
Accounts payable and accrued liabilities	$ 70,215	$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Operating expenses:
Total hotel operating expenses									771,239	733,599	722,439
Entertainment									109,249	84,513	74,627
Corporate									30,833	31,387	26,883
Preopening costs									4,869	1,926
Depreciation and amortization	31,221	30,994	29,995	28,666	28,097	28,546	27,679	27,637	120,876	111,959	109,816
Impairment charges									23,783
Other-than-temporary impairment loss on held-to-maturity securities:
Total other-than-temporary impairment loss										41,961
Less portion recognized in other comprehensive income										(6,543)
Net impairment loss recognized in earnings on held-to-maturity securities										35,418
Total operating expenses									1,060,849	998,802	933,765
Operating income	51,526	40,100	76,699	45,944	36,788	37,510	64,644	46,975	214,269	185,917	215,442
Interest expense									(74,961)	(66,051)	(63,906)
Interest income									10,469	11,818	11,500
Income (loss) from joint ventures									125,005	(4,402)	(2,794)
Other gains and (losses), net									1,633	(337)	2,524
Income before income taxes	161,191	24,454	61,222	29,548	21,141	24,400	48,191	33,213	276,415	126,945	162,766
(Provision) benefit for income taxes	(1,997)	(1,863)	(5,676)	(2,209)	51,177	(530)	(899)	(593)	(11,745)	49,155	(3,400)
Net income	$ 159,194	$ 22,591	$ 55,546	$ 27,339	$ 72,318	$ 23,870	$ 47,292	$ 32,620	$ 264,670	$ 176,100	$ 159,366
Basic income per share	$ 3.10	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.47	$ 0.92	$ 0.64	$ 5.16	$ 3.44	$ 3.12
Diluted income per share	$ 3.09	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.46	$ 0.92	$ 0.63	5.14	3.43	3.11
Dividends declared per common share									$ 3.40	$ 3.20	$ 3
Rooms [Member]
Revenues:
Total revenues									$ 454,370	$ 431,768	$ 420,011
Operating expenses:
Total hotel operating expenses									118,060	112,636	109,618
Food and Beverage [Member]
Revenues:
Total revenues									519,843	483,945	477,493
Operating expenses:
Total hotel operating expenses									282,906	269,824	267,307
Hotel, Other [Member]
Revenues:
Total revenues									153,690	143,947	142,139
Operating expenses:
Total hotel operating expenses									339,529	327,283	323,320
Management Fees [Member]
Operating expenses:
Total hotel operating expenses									30,744	23,856	22,194
Entertainment [Member]
Revenues:
Total revenues									$ 147,215	$ 125,059	$ 109,564

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 264,670	$ 176,100	$ 159,366
Other comprehensive income (loss), before tax:
Unrealized gains (losses) arising during the period	(2,231)	3,111	2,599
Amount reclassified from accumulated other comprehensive loss	(64)	60	180
Total minimum pension liability	(2,295)	3,171	2,779
Other-than-temporary impairment loss on held-to-maturity securities:
Non-credit loss on other-than-temporary impairment		(6,543)
Amount reclassified from accumulated other comprehensive loss	333
Total non-credit loss on other-than-temporary impairment	333	(6,543)
Other comprehensive income (loss), before tax	(1,962)	(3,372)	2,779
Income tax (provision) benefit related to items of comprehensive income (loss)	630	(1,052)
Other comprehensive income (loss), net of tax	(1,332)	(4,424)	2,779
Comprehensive income	$ 263,338	$ 171,676	$ 162,145

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net income	$ 264,670	$ 176,100	$ 159,366
Amounts to reconcile net income to net cash flows provided by operating activities:
Provision (benefit) for deferred income taxes	10,190	(52,637)	321
Depreciation and amortization	120,876	111,959	109,816
Amortization of deferred financing costs	5,632	5,350	4,863
Impairment charges	23,783
Net impairment loss recognized in earnings on held-to-maturity securities		35,418
Write-off of deferred financing costs	1,956	925
(Income) loss from joint ventures	(125,005)	4,402	2,794
Stock-based compensation expense	7,656	6,640	6,128
Changes in:
Trade receivables	(8,320)	(9,702)	7,215
Accounts payable and accrued liabilities	22,201	17,189	1,148
Other assets and liabilities	(1,720)	186	1,950
Net cash flows provided by operating activities	321,919	295,830	293,601
Cash Flows from Investing Activities:
Purchases of property and equipment	(188,217)	(182,565)	(117,977)
Proceeds from sale of Peterson LOI			6,785
Other investing activities	(5,367)	(7,234)	4,299
Net cash flows used in investing activities	(423,310)	(215,421)	(179,534)
Cash Flows from Financing Activities:
Net borrowings (repayments) under revolving credit facility	354,000	(211,400)	76,000
Repayments under term loan B	(5,000)	(393,750)	(4,000)
Repayment of note payable related to purchase of AC Hotel			(6,000)
Deferred financing costs paid	(642)	(12,268)
Repurchase of Company stock for retirement			(24,811)
Payment of dividends	(172,415)	(161,706)	(151,160)
Payment of tax withholdings for share-based compensation	(4,164)	(3,810)	(3,235)
Other financing activities	(9)	45	1,683
Net cash flows provided by (used in) financing activities	171,770	(82,889)	(111,523)
Net change in cash, cash equivalents, and restricted cash	70,379	(2,480)	2,544
Cash, cash equivalents, and restricted cash, beginning of period	78,710	81,190	78,646
Cash, cash equivalents, and restricted cash, end of period	149,089	78,710	81,190
$200 Million Term Loan A [Member]
Cash Flows from Financing Activities:
Borrowings under term loan		200,000
$500 Million Term Loan B [Member]
Cash Flows from Financing Activities:
Borrowings under term loan		500,000
Gaylord Rockies [Member]
Amounts to reconcile net income to net cash flows provided by operating activities:
(Income) loss from joint ventures	(124,400)	1,900	1,200
Cash Flows from Investing Activities:
Investment in joint venture		(16,309)	(70,141)
Purchase of additional/remaining interest, net of cash acquired	(223,564)
Opry City Stage [Member]
Cash Flows from Investing Activities:
Purchase of additional/remaining interest, net of cash acquired	(3,963)
Other Joint Ventures [Member]
Cash Flows from Investing Activities:
Investment in joint venture	$ (2,199)	$ (9,313)	$ (2,500)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents - unrestricted	$ 103,437	$ 57,557	$ 59,128
Cash and cash equivalents - restricted	45,652	21,153	22,062
Cash, cash equivalents, and restricted cash, end of period	$ 149,089	$ 78,710	$ 81,190	$ 78,646

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance at Dec. 31, 2015	$ 513	$ 887,501	$ (10,001)	$ (473,404)	$ (25,047)	$ 379,562
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				159,366		159,366
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2016-09 [Member]) at Dec. 31, 2016				75		75
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					2,779	2,779
Repurchase of Company stock for retirement	(5)			(24,806)		(24,811)
Payment of dividend		883	(1,541)	(153,036)		(153,694)
Exercise of stock options		1,702				1,702
Restricted stock units and stock options surrendered	2	(3,112)				(3,110)
Stock-based compensation expense		6,128				6,128
Ending balance at Dec. 31, 2016	510	893,102	(11,542)	(491,805)	(22,268)	367,997
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				176,100		176,100
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2014-09 [Member]) at Dec. 31, 2017						(100)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					(4,424)	(4,424)
Payment of dividend		745	(1,711)	(163,465)		(164,431)
Exercise of stock options		65				65
Restricted stock units and stock options surrendered	2	(3,793)				(3,791)
Stock-based compensation expense		6,640				6,640
Ending balance at Dec. 31, 2017	512	896,759	(13,253)	(479,170)	(26,692)	378,156
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				264,670		264,670
Tax benefit or Translation adjustment related to adoption of ASU (ASU 2014-09 [Member]) at Dec. 31, 2018				(134)		(134)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), net of income taxes					(1,332)	(1,332)
Payment of dividend		514	(1,930)	(173,890)		(175,306)
Exercise of stock options		11				11
Restricted stock units and stock options surrendered	1	(4,145)				(4,144)
Stock-based compensation expense		7,656				7,656
Ending balance at Dec. 31, 2018	$ 513	$ 900,795	$ (15,183)	$ (388,524)	$ (28,024)	$ 469,577

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Summary of Significant Accounting Policies	1. Description of the Business and Summary of Significant Accounting Policies For financial statement presentation and reporting purposes, the Company is the successor to Gaylord Entertainment Company, a Delaware corporation (“Gaylord”). As part of the plan to restructure the business operations of Gaylord to facilitate its qualification as a real estate investment trust (“REIT”) for federal income tax purposes, Gaylord merged with and into its wholly-owned subsidiary, Ryman Hospitality Properties, Inc., a Delaware corporation (“Ryman”), on October 1, 2012, with Ryman as the surviving corporation (the “Merger”). At 12:01 a.m. on October 1, 2012, the effective time of the Merger, Ryman succeeded to and began conducting, directly or indirectly, all of the business conducted by Gaylord immediately prior to the Merger. The “Company” refers to Ryman and its subsidiaries and to Gaylord. On January 1, 2013, the Company began operating as a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of upscale, meetings-focused resorts that are managed by Marriott International, Inc. (“Marriott”) under the Gaylord Hotels brand. These resorts, which the Company refers to as the Gaylord Hotels properties, consist of the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee (“Gaylord Opryland”), the Gaylord Palms Resort & Convention Center near Orlando, Florida (“Gaylord Palms”), the Gaylord Texan Resort & Convention Center near Dallas, Texas (“Gaylord Texan”) and the Gaylord National Resort & Convention Center near Washington D.C. (“Gaylord National”). The Company’s other owned hotel assets managed by Marriott include the Inn at Opryland, an overflow hotel adjacent to Gaylord Opryland, and the AC Hotel at National Harbor, Washington D.C. (“AC Hotel”), an overflow hotel adjacent to Gaylord National. The Company also owns a 61.2% interest in a joint venture (the “Gaylord Rockies joint venture”) that owns the Gaylord Rockies Resort & Convention Center near Denver, Colorado (“Gaylord Rockies”), which opened in December 2018 and is managed by Marriott. For more information regarding the Company’s increase in its ownership percentage in the Gaylord Rockies joint venture as of December 31, 2018, see Note 4. The Company also owns a number of media and entertainment assets, including the Grand Ole Opry, the legendary weekly showcase of country music’s finest performers; the Ryman Auditorium, the storied live music venue and former home of the Grand Ole Opry located in downtown Nashville; WSM-AM, the Opry’s radio home; Ole Red, a brand of Blake Shelton-themed bar, music venue and event spaces, with a flagship location in Nashville that opened in May 2018; and three Nashville-based assets managed by Marriott – Gaylord Springs Golf Links (“Gaylord Springs”), the Wildhorse Saloon, and the General Jackson Showboat (“General Jackson”). The Company previously owned Opry City Stage, a four-level entertainment complex in Times Square that opened in December 2017 under a joint venture agreement of which the Company owned 50%. In the second quarter of 2018, the Company acquired the remaining 50% joint venture interest in Opry City Stage for a combination of $3.9 million in cash and the forgiveness of a note receivable previously due to the Company from the other joint venture partner of $7.9 million. Subsequent to the Company’s purchase of the remaining 50% joint venture interest, the Company determined that current ongoing operations were not meeting the revenue expectations from the time of purchase. In September 2018, the Company announced that it was temporarily suspending operations at Opry City Stage to appropriately reposition the venue and its operations, and in December 2018, the Company determined that it would permanently close the venue. During 2018, the Company performed impairment assessments of the carrying amount of Opry City Stage assets and recorded impairment charges of $22.6 million, which represents substantially all of the assets associated with the venue, and are reflected as impairment charges in the accompanying consolidated statements of operations and comprehensive income for 2018. The Company conducts its business through an umbrella partnership REIT, in which all of its assets are held by, and all of its operations are conducted through, RHP Hotel Properties, LP, a subsidiary operating partnership (the “Operating Partnership”) that the Company formed in connection with its REIT conversion. Ryman 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 Annual Report on Form 10‑K and Ryman’s other reports, documents or other information filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended. On December 31, 2018, the Company amended the limited partnership agreement of the Operating Partnership to provide that its partnership units may be exchanged on a one-for-one basis for shares of the Company’s common stock. Under certain circumstances, the Company may issue such partnership units as consideration to acquire hotel properties. The Company principally operates, through its subsidiaries and its property managers, as applicable, in the following business segments: Hospitality; Entertainment; and Corporate and Other. The Company’s fiscal year ends on December 31 for all periods presented. Business Segments Hospitality The Hospitality segment includes the Gaylord Hotels branded hotels, the Inn at Opryland and the AC Hotel, as well as the Company’s equity investment in Gaylord Rockies. See Note 4 for further discussion of this investment. Each of the Company’s hotels, as well as Gaylord Rockies, is managed by Marriott pursuant to a management agreement for each hotel. Entertainment The Entertainment segment includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the General Jackson, the Wildhorse Saloon, and Gaylord Springs, among others. Marriott manages the day-to-day operations of the General Jackson, Gaylord Springs and the Wildhorse Saloon pursuant to management agreements. Corporate and Other The Corporate and Other segment includes operating and general and administrative expenses related to the overall management of the Company which are not allocated to the other reportable segments, including certain costs for the Company’s retirement plans, equity-based compensation plans, information technology, human resources, accounting, and other administrative expenses. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s investments in non-controlled entities in which it has the ability to exercise significant influence over operating and financial policies are accounted for by the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company analyzes its variable interests, including loans, guarantees, management agreements, leasing arrangements and equity investments, to determine if an entity in which it has a variable interest is a variable interest entity (“VIE”). This analysis primarily includes a qualitative review, which is based on a review of the design of the entity, its organizational structure, including decision-making ability, and relevant financial agreements. This analysis is also used to determine if the Company must consolidate the VIE as the primary beneficiary. The terms of the Company’s increased investment in the Gaylord Rockies joint venture and certain related agreements provide that a subsidiary of the Company is the managing member and is responsible for day-to-day management of the joint venture and for future financings meeting certain parameters. Designated decisions, such as refinancings that do not meet established parameters, future expansions of the hotel, transactions with affiliates, selling the hotel, and admitting additional members of the joint venture, are to be approved by a majority vote of a committee consisting of two members designated by the Company and two members designated by the minority partner. Based on management’s analysis of these updated agreements, management concluded the Company’s responsibility for the day-to-day management of the joint venture and for future financings meeting certain parameters results in the Company having the power to direct the activities that most significantly impact the economic performance of the joint venture. In addition, the shared decisions represent protective rights of both parties. Thus, the Company is the primary beneficiary of this variable interest entity at December 31, 2018. As such, the Company consolidated the assets and liabilities of the joint venture effective December 31, 2018 and will begin consolidating the ongoing operations of the joint venture effective January 1, 2019. See “Noncontrolling Interest in Consolidated Joint Venture” and Note 4 below for further discussion. Property and Equipment Property and equipment are stated at cost or at estimated fair value if recorded in connection with purchase accounting. Improvements and significant renovations that extend the lives of existing assets are capitalized. Interest on funds borrowed to finance the construction of major capital additions not funded through furniture, fixtures and equipment reserves is included in the cost of the applicable capital addition. Maintenance and repairs are charged to expense as incurred. Property and equipment are generally depreciated using the straight-line method over the following estimated useful lives: Buildings 40 years Land improvements 20 years Furniture, fixtures and equipment 5-8 years Leasehold improvements The shorter of the lease term or useful life Cash and Cash Equivalents — Unrestricted The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and Cash Equivalents — Restricted Restricted cash and cash equivalents primarily represent funds held by our property managers for furniture, fixtures and equipment reserves. In addition, the Company holds certificates of deposit with an original maturity of greater than three months in order to secure its Tennessee workers’ compensation self-insurance obligations. Supplemental Cash Flow Information Cash paid for interest for the years ended December 31 was comprised of (amounts in thousands): 2018 2017 2016 Debt interest paid $ 74,821 $ 63,325 $ 60,780 Capitalized interest (10,013) (6,645) (1,721) Cash paid for interest, net of capitalized interest $ 64,808 $ 56,680 $ 59,059 Net cash payments of income taxes in 2018, 2017 and 2016 were $1.6 million, $4.1 million and $1.7 million, respectively. Accounts Receivable The Company’s accounts receivable are primarily generated by meetings and convention attendees’ room nights and food and beverage. Receivables arising from these sales are not collateralized. Credit risk associated with the accounts receivable is minimized due to the large and diverse nature of the customer base. Allowance for Doubtful Accounts The Company provides allowances for doubtful accounts based upon a percentage of revenue and periodic evaluations of the aging of accounts receivable. Prepaid Expenses and Other Assets Prepaid expenses and other assets at December 31 consist of (amounts in thousands): 2018 2017 Prepaid expenses $ 15,732 $ 14,526 Inventories 9,823 8,052 Supplemental deferred compensation plan assets 24,687 25,055 Other 27,998 20,198 Total prepaid expenses and other assets $ 78,240 $ 67,831 Prepaid expenses consist of prepayments for property taxes, insurance and other contracts that will be expensed during the subsequent year. Inventories consist primarily of food and beverage inventory for resale and retail inventory sold in the Entertainment segment. Inventory is carried at the lower of cost or net realizable value. Cost is computed on an average cost basis. Other assets include capitalized software costs, non-trade receivables, and investments in joint ventures, among others. Intangible Assets In connection with the Company’s purchase price allocation of the Gaylord Rockies joint venture, as discussed further in Note 4, the Company acquired certain definite-lived intangibles, which are shown on the accompanying consolidated balance sheet as of December 31, 2018. Included in these intangibles are advanced bookings of $125.5 million and value in the Gaylord Hotels trade name, which Marriott owns, of $115.3 million. The advanced bookings will be amortized on a straight-line basis over a period of 3.5 years, which corresponds with the period in which the advanced deposits relate, and the value in the trade name will be amortized on a straight-line basis over 30 years, which is the period of the Marriott management agreement. The estimated amounts of amortization expense for the next five years are as follows (amounts in thousands): 2019 $ 40,125 2020 40,125 2021 40,125 2022 22,196 2023 4,267 $ 146,838 Investments From time to time, the Company has owned minority interest investments in certain businesses. Generally, non-marketable investments (excluding limited partnerships and limited liability company interests) in which the Company owns less than 20 percent are accounted for using the cost method of accounting and investments in which the Company owns between 20 percent and 50 percent and limited partnerships are accounted for using the equity method of accounting. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at December 31 consist of (amounts in thousands): 2018 2017 Trade accounts payable $ 77,620 $ 32,663 Property and other taxes payable 35,947 34,282 Deferred revenues 69,280 51,232 Accrued salaries and benefits 21,544 25,178 Accrued interest payable 16,027 11,179 Other accrued liabilities 54,472 25,115 Total accounts payable and accrued liabilities $ 274,890 $ 179,649 Deferred revenues consist primarily of deposits on advance bookings of hotel rooms and advance ticket sales at the Company’s tourism properties, as well as uncollected attrition and cancellation fees. Other accrued liabilities include accruals for, among others, purchasing, meeting planner commissions and utilities. The increase in trade accounts payable and other accrued liabilities from 2017 to 2018 primarily results from liabilities incurred from consolidation of the Gaylord Rockies joint venture. Income Taxes The Company establishes deferred tax assets and liabilities based on the difference between the financial statement and income tax carrying amounts of assets and liabilities using existing tax laws and tax rates. The Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. See Note 11 for more detail on the Company’s income taxes. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company has considered projected future taxable income and ongoing feasible tax planning strategies in assessing the need for a valuation allowance. Deferred Management Rights Proceeds The Company has deferred and amortizes the proceeds received from Marriott that were allocated to the sale of the management rights, as discussed further in Note 6, on a straight-line basis over the 65‑year term of the hotel management agreements, including extensions, as a reduction in management fee expense in the accompanying consolidated statements of operations. Other Liabilities Other liabilities at December 31 consist of (amounts in thousands): 2018 2017 Pension and postretirement benefits liability $ 34,712 $ 34,763 Straight-line lease liability 100,068 95,078 Deferred compensation liability 24,687 25,055 Other 1,576 949 Total other liabilities $ 161,043 $ 155,845 Deferred Financing Costs Deferred financing costs (“DFCs”) consist of loan fees and other costs of financing that are amortized over the term of the related financing agreements, using the effective interest method, and are presented as a reduction of the related debt liability. During 2018, 2017 and 2016, DFCs of $5.6 million, $5.4 million and $4.9 million, respectively, were amortized and recorded as interest expense in the accompanying consolidated statements of operations. As a result of refinancing of the Company’s credit facility in 2018 and 2017, the Company wrote off $2.0 million and $0.9 million of DFCs during 2018 and 2017, respectively, which are included in interest expense in the accompanying consolidated statements of operations. Noncontrolling Interest in Consolidated Joint Venture The noncontrolling interest in the Gaylord Rockies joint venture represents the minority partners’ proportionate share of the assets and liabilities of the joint venture at December 31, 2018. The noncontrolling interest is classified in the mezzanine section of the consolidated balance sheet as the related redemption options do not meet the requirements for permanent equity classification because these redemption options may be redeemed by the holder as described in Note 4. Beginning in 2019, an adjustment will also be made for the minority partners’ proportionate share of income or loss. The initial value of the noncontrolling interest, which includes certain put rights, was estimated based on the purchase price allocation performed and is discussed further in Note 4. In general, the carrying value on a go-forward basis will be based on the greater of the accumulated historical cost or the put right redemption value, but at December 31, 2018, the amount represents the fair value of the noncontrolling interest on the date that the Company acquired a controlling interest. Revenue Recognition Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and a ttrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase, but are not included in revenue. The Company records a liability upon collection from the customer and relieves the liability when payments are remitted to the applicable governmental agency. The Company’s revenues disaggregated by major source are as follows (in thousands): 2018 2017 2016 Hotel group rooms $ 312,364 $ 294,411 $ 291,950 Hotel transient rooms 142,006 137,357 128,061 Hotel food and beverage - banquets 360,181 329,655 324,246 Hotel food and beverage - outlets 159,662 154,290 153,247 Hotel other 153,690 143,947 142,139 Entertainment admissions/ticketing 69,291 63,586 54,028 Entertainment food and beverage 45,961 31,901 28,059 Entertainment retail and other 31,963 29,572 27,477 Total revenues $ 1,275,118 $ 1,184,719 $ 1,149,207 The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands): 2018 2017 2016 Gaylord Opryland $ 365,999 $ 337,764 $ 331,828 Gaylord Palms 200,763 195,735 195,719 Gaylord Texan 260,418 230,085 231,179 Gaylord National 274,299 268,313 255,846 AC Hotel 10,761 11,805 9,992 Inn at Opryland and other 15,663 15,958 15,079 Total Hospitality segment revenues $ 1,127,903 $ 1,059,660 $ 1,039,643 Almost all of the Company’s Entertainment segment revenues are concentrated in Nashville, Tennessee. The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment. At December 31, 2018 and December 31, 2017, the Company had $69.3 million and $51.2 million, respectively, in deferred revenues, which are included in accounts payable and accrued liabilities in the accompanying condensed consolidated balance sheets. Of the amount outstanding at December 31, 2017, approximately $44.2 million was recognized in revenues during 2018. Management Fees The Company pays Marriott a base management fee of approximately 2% of revenues for the wholly-owned properties that Marriott manages and a base management fee of approximately 3% of revenues for Gaylord Rockies, as well as an incentive fee for each managed property that is based on profitability. The Company incurred $23.3 million, $22.0 million and $21.4 million in base management fees to Marriott during 2018, 2017 and 2016, respectively. The Company incurred $11.8 million, $6.1 million and $4.8 million in incentive fees to Marriott during 2018, 2017 and 2016, respectively. Management fees are presented in the consolidated statements of operations net of the amortization of the deferred management rights proceeds discussed further in Note 6. Leases The Company is a lessee of a 65.3 acre site in Osceola County, Florida on which the Gaylord Palms is located, a 10.0 acre site in Grapevine, Texas on which a portion of the Gaylord Texan is located, and office and other equipment. The Company’s leases are discussed further in Note 12. Advertising Costs Advertising costs are expensed as incurred and were $41.2 million, $38.4 million, and $36.7 million for 2018, 2017 and 2016, respectively. Stock-Based Compensation The Company has stock-based employee compensation plans, which are described more fully in Note 7. The Company accounts for its stock-based compensation plan under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, “ Compensation – Stock Compensation .” Preopening Costs The Company expenses the costs associated with start-up activities and organization costs associated with its development or reopening of hotels and significant attractions as incurred. The Company’s preopening costs during 2018 include costs associated with an expansion of the guest rooms and convention space at Gaylord Texan, which opened in May 2018, costs associated with Ole Red Nashville, which opened in May 2018, and costs associated with SoundWaves, an indoor/outdoor luxury waterpark at Gaylord Opryland, the indoor portion of which opened in December 2018. The Company’s preopening costs during 2017 include costs associated with a riverfront ballroom at Gaylord National, which opened in May 2017, and costs associated with various Entertainment segment development projects. Impairment of Long-Lived and Other Assets In accounting for the Company’s long-lived and other assets (including its notes receivable associated with the development of Gaylord National and Gaylord Rockies), the Company assesses its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets or asset group may not be recoverable. Recoverability of long-lived assets that will continue to be used is measured by comparing the carrying amount of the asset or asset group to the related total future undiscounted net cash flows. If an asset or asset group’s carrying value is not recoverable through those cash flows, the asset group is considered to be impaired. The impairment is measured by the difference between the assets’ carrying amount and their fair value, which is estimated using discounted cash flow analyses that utilize comprehensive cash flow projections, as well as observable market data to the extent available. Recoverability of the notes receivable associated with Gaylord National and Gaylord Rockies is measured by comparing the carrying amount of the notes to the fair value of the notes. If the carrying value is greater than the fair value, the Company then assesses if the decline in fair value is other than temporary. If the decline in fair value is deemed to be other than temporary, which is based on the Company’s intent and ability to hold the notes receivable to maturity and whether it expects to receive all debt service payments due under the notes, then the notes receivable are impaired. Subsequent to the recognition of an other-than-temporary impairment, the Company accounts for the notes receivable as if it had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment previously recognized in earnings. The difference between the new amortized cost basis and the cash flows expected to be collected is accreted into interest income. See Note 3 for further disclosure. Income Per Share Earnings per share is measured as basic earnings per share and diluted earnings per share. Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding after considering the effect of conversion of dilutive instruments, calculated using the treasury stock method. Net income per share amounts are calculated as follows for the years ended December 31 (income and share amounts in thousands): 2018 Income Shares Per Share Net income $ 264,670 51,294 $ 5.16 Effect of dilutive stock-based compensation — 213 — Net income — assuming dilution $ 264,670 51,507 $ 5.14 2017 Income Shares Per Share Net income $ 176,100 51,147 $ 3.44 Effect of dilutive stock-based compensation — 224 — Net income — assuming dilution $ 176,100 51,371 $ 3.43 2016 Income Shares Per Share Net income $ 159,366 51,009 $ 3.12 Effect of dilutive stock-based compensation — 303 — Net income — assuming dilution $ 159,366 51,312 $ 3.11 Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Newly Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014‑09, “ Revenue from Contracts with Customers ,” the core principle of which is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. Under this guidance, companies will need to use more judgment and make more estimates than under previous guidance. These judgments may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Due to the short-term, day-to-day nature of the Company’s hospitality and entertainment segment revenues, the pattern of revenue recognition did not change significantly upon adoption. The Company adopted this ASU in the first quarter of 2018 using the modified retrospective approach and has applied the standard to all contracts at the date of initial application. As such, prior period amounts have not been restated, and the Company recorded a transition adjustment to retained earnings of $0.1 million, which is reflected in the consolidated balance sheet and consolidated statement of stockholders’ equity for December 31, 2018 included herein. See “Revenue Recognition” within Note 1 for further disclosures. In February 2016, the FASB issued ASU No. 2016‑02, “ Leases ,” that requires lessees to put most leases on their balance sheet, but recognize expenses on their income statements in a manner similar to previous accounting. The ASU also eliminates the required use of bright-line tests for determining lease classification. The ASU is effective for the Company in the first quarter of 2019, and the Company plans to adopt this standard at that time using the modified retrospective approach, with a cumulative-effect adjustment, if any, to retained earnings in the period of adoption. Prior period amounts will not be restated. In July 2018, the FASB issued ASU 2018-10, “ Codification Improvements to Topic 842, Leases ,” and ASU 2018-11, “ Leases (Topic 842): Targeted Improvements ,” both of which provide practical expedients that the Company plans to adopt. By adopting these practical expedients, the Company will not be required to reassess (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The Company has substantially completed its evaluation of its inventory of leases, determined the appropriate discount rates that will be used to determine the right-of-use assets and lease liabilities, and expects to record a right-of-use asset and corresponding lease liability of approximately $95 million to $105 million as of January 1, 2019. However, the Company expects a net impact to its assets and liabilities of less than $5 million after consideration of its current straight-line lease liability noted in the Other Liabilities table above. See Note 12 for a further disclosure of the Company’s outstanding leases. In June 2016, the FASB issued ASU No. 2016‑13, “ Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments ,” which will change how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The ASU will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowances for losses. The ASU is effective for the Company in the first quarter of 2020. The Company is currently evaluating the effects of this ASU on its financial statements, and such effects have not yet been determined. In November 2016, the FASB issued ASU No. 2016‑18, “ Restricted Cash ,” which requires entities to disclose changes in the total of cash and restricted cash in the statement of cash flows. As a result, entities no longer present transfers between cash and restricted cas

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2018
Property and Equipment
Property and Equipment	2. Property and Equipment Property and equipment at December 31 is recorded at cost, with the exception of the Gaylord Rockies joint venture as discussed below, and summarized as follows (amounts in thousands): 2018 2017 Land and land improvements $ 347,654 $ 267,051 Buildings 3,379,041 2,440,471 Furniture, fixtures and equipment 913,528 647,988 Construction-in-progress 48,295 138,702 4,688,518 3,494,212 Accumulated depreciation (1,539,423) (1,428,555) Property and equipment, net $ 3,149,095 $ 2,065,657 Property and equipment as of December 31, 2018 includes all property and equipment of the Gaylord Rockies joint venture reflected at fair value according to the Company’s purchase price allocation described in Note 4. Depreciation expense, including amortization of assets under capital lease obligations, during 2018, 2017 and 2016 was $119.5 million, $110.4 million, and $108.1 million, respectively. In June 2017, the Company entered into an agreement with the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County (the “Board”) to implement a tax abatement plan related to Gaylord Opryland. The tax abatement plan provides for the capping of real property taxes for a period of eight years by legally transferring title to the Gaylord Opryland real property to the Board. The Board financed the acquisition of the Gaylord Opryland real property by issuing a $650 million industrial revenue bond to the Company. The Board then leased this property back to the Company. The Company is obligated to make lease payments equal to the debt service on the industrial revenue bond. No cash was exchanged, and no cash will be exchanged in connection with the Company’s lease payments under the lease. The tax abatement period extends through the term of the lease, which coincides with the nine-year maturity of the bond. At any time, the Company has the option to repurchase the real property at a de minimis amount. Due to the form of these transactions, the Company has not recorded the bond or the lease obligation associated with the sale lease-back transaction, and the cost of the Gaylord Opryland real property remains recorded on the balance sheet and is being depreciated over its estimated useful life.

Notes Receivable

Notes Receivable	12 Months Ended
	Dec. 31, 2018
Notes Receivable
Notes Receivable	3. Notes Receivable In connection with the development of Gaylord National, Prince George’s County, Maryland (“the County”) issued a bond with a face value of $95 million (“Series A Bond”) and an additional bond with a face value of $50 million (“Series B Bond”), which were delivered to the Company upon substantial completion and opening of the Gaylord National on April 2, 2008. The interest rate on the Series A Bond and Series B Bond is 8.0% and 10.0%, respectively. The maturity date of the Series A Bond and the Series B Bond is July 1, 2034 and September 1, 2037, respectively. Upon receipt in 2008, the Company calculated the present value of the future debt service payments from the Series A Bond and Series B Bond based on their effective interest rates of 8.04% and 11.42%, respectively, and recorded the notes receivable at their discounted values of $93.8 million and $38.3 million, respectively. The Company is currently holding the Series A Bond and Series B Bond, which have aggregate carrying values and approximate fair values of $77.7 million and $33.3 million, respectively, at December 31, 2018. The Company based its estimates of fair value on the projected future cash flows of the bonds utilizing a discount rate, which the Company considers to be Level 3 fair value estimates. The Company is receiving the debt service and principal payments thereon, which are payable from tax increments, hotel taxes and special hotel rental taxes generated from the development through the maturity date. The Company is recording the amortization of discount on these notes receivable as interest income over the lives of the notes. The Company has the intent and ability to hold the Series A Bond and Series B Bond to maturity and had previously expected to receive all debt service payments due. In the fourth quarter and year ended December 31, 2017, as part of its impairment analysis related to the Series B Bond, the Company considered reduced projected tax revenues, which will service the bond, as compared to previous impairment analyses, over the remaining term of the Series B Bond. These long-range tax revenue projections were reduced in 2017 primarily as the result of two factors. First, transient rooms revenue growth rates had been reduced as the initial impact of the opening of the new nearby MGM casino on overnight regional guests had been less than originally anticipated. Second, while the anticipated recovery of the Washington D.C. market had materialized in the central business district, recovery of National Harbor and the surrounding areas had been at a slower pace than previously projected. In response, Gaylord National developed marketing campaigns targeted to regional customers to help drive transient business among regional customers. While these campaigns had proven successful, this change resulted in a lower average daily rate (“ADR”) than previously forecasted. As a result, the level of anticipated transient occupancy and ADR increase included in previous long-range projections had not materialized. As a result of these reduced long-range tax revenue projections over the remaining life of the Series B Bond, the Company no longer believed it would receive all debt service payments due under the note, and the Company considered the Series B Bond to be other-than-temporarily impaired (“OTTI”) in 2017. The Company compared the expected cash flows to be collected at the original discount rate of 11.42% to the carrying value and determined that the present value of the future cash flows was less than the carrying value. The Company then compared the expected cash flows to be collected at a then-current discount rate of 14.0% to the carrying value of the Series B Bond. The resulting discounted cash flows resulted in an OTTI of $42.0 million, which was recorded as a reduction in the carrying value of notes receivable in the accompanying consolidated balance sheet at December 31, 2017. The amount of the OTTI related to the credit loss, or the decrease in expected cash flows, of $35.4 million was recorded as an impairment in the accompanying consolidated statement of operations for 2017. The amount of the OTTI related to changing market conditions, or the increase in the discount rate, of $6.5 million was recorded as an increase to other comprehensive loss in the accompanying consolidated statement of comprehensive income and consolidated statement of stockholders’ equity for 2017. The Company considers the projected future cash flows and the discount rate to be Level 3 fair value estimates. The discount rate was determined based on current market interest rates of notes receivable with comparable market ratings and current expectations about the timing of debt service payments under the note. During 2018, 2017 and 2016, the Company recorded interest income of $10.1 million, $11.6 million and $11.4 million, respectively, on these bonds. The Company received payments of $10.9 million, $11.1 million and $11.1 million during 2018, 2017 and 2016, respectively, relating to these notes receivable, which includes principal and interest payments. In connection with the development of certain infrastructure adjacent to Gaylord Rockies, in December 2015, Colorado International Center Metropolitan District No. 4 (“CIC4”) issued a bond with a face value of $20.4 million (“GR Series A Bond”) and an additional bond with a face value of $1.5 million (“GR Series B Bond”), of which $9.0 million of the GR Series A Bond and all of the GR Series B Bond were purchased by the Gaylord Rockies joint venture at issuance at face value. The interest rate on both bonds is 2.5% through November 30, 2020; 6.0% from December 1, 2020 through November 30, 2024; and 8.0% from December 1, 2024 through the respective maturity date. The maturity date of the GR Series A Bond and the GR Series B Bond is December 1, 2030 and December 1, 2040, respectively. The Gaylord Rockies joint venture is currently holding its portion of the GR Series A Bond and the GR Series B Bond as held-to-maturity debt securities, which have aggregate carrying values and approximate fair values of $9.7 million and $1.5 million, respectively, at December 31, 2018. The joint venture bases its estimates of fair value on the projected future cash flows of the bonds utilizing a discount rate, which the Company considers to be Level 3 fair value estimates. The debt service and principal payments on such bonds are payable from tax increments and special hotel rental taxes generated from the surrounding development through the maturity date. The bonds may be refinanced prior to maturity.

Investment in Gaylord Rockies J

Investment in Gaylord Rockies Joint Venture	12 Months Ended
	Dec. 31, 2018
Investment in Gaylord Rockies Joint Venture
Investment in Gaylord Rockies Joint Venture	4. Investment in Gaylord Rockies Joint Venture 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 the Gaylord Rockies joint venture, which developed Gaylord Rockies. The hotel is managed by Marriott pursuant to a long-term management contract and consists of a 1,501‑room resort hotel with over 485,000 square feet of exhibition, meeting, pre-function and outdoor space. The hotel opened in December 2018 and has a total project cost of approximately $800 million. In 2016, the Company acquired a 35% interest in a limited liability company which owns the real property comprising the hotel, which the Company purchased for a capital contribution of approximately $86.5 million. The Company also acquired a 35% interest in a limited liability company which leases the hotel from the property owner and assumed the Marriott management agreement prior to the opening of the hotel. The equity method income (losses) in this investment were $124.4 million, $(1.9) million and $(1.2) million for 2018, 2017 and 2016, respectively. A subsidiary of the Company provides 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. On December 31, 2018, the Company completed its purchase of additional interests in the Gaylord Rockies joint venture, pursuant to a Purchase Agreement by and among the Company and affiliates of RIDA and Ares, and now owns a 61.2% interest in each of the limited liability companies discussed above. The purchase price paid by the Company was approximately $235.2 million, funded with cash on hand and borrowings under the Company’s revolving credit facility. The terms of the Company’s increased investment in the Gaylord Rockies joint venture and certain related agreements provide that a subsidiary of the Company is the managing member and is responsible for day-to-day management of the joint venture and for future financings meeting certain parameters. Designated decisions, such as refinancings that do not meet established parameters, future expansions of the hotel, transactions with affiliates, selling the hotel, and admitting additional members of the joint venture, are to be approved by majority vote of a committee consisting of two members designated by the Company and two members designated by the minority partner. Based on management’s analysis of these updated agreements, management concluded that the Company’s responsibility for the day-to-day management of the joint venture and for future financings meeting certain parameters results in the Company holding the power to direct the activities that most significantly impact the economic performance of the joint venture. In addition, the shared decisions represent protective rights of both parties. Thus, the Company is the primary beneficiary of this variable interest entity at December 31, 2018. As such, the Company consolidated the assets and liabilities of the joint venture effective December 31, 2018 and will begin consolidating the ongoing operations of the joint venture effective January 1, 2019. The Company performed a valuation of the overall fair value of the Gaylord Rockies joint venture and the acquired assets and liabilities as of December 31, 2018. This valuation was determined based on a variety of factors and inputs, including future projected cash flows, market data for similar assets, future projected occupancy and ADR, replacement values of land and property, and advanced bookings already received for the hotel, all of which the Company considers as Level 3 fair value measurements. This valuation resulted in an estimation that the fair value of the Company’s existing joint venture interest immediately prior to the purchase of additional interest was $218.4 million, which exceeded the carrying value of the Company’s existing interest in the joint venture. The resulting gain of $131.4 million related to the re-measurement of the pre-existing equity method investment prior to consolidation was recorded as income from joint ventures in the accompanying consolidated statement of operations for 2018. Utilizing the valuation, the Company performed a purchase price allocation for the acquired assets and liabilities of the Gaylord Rockies joint venture. As a result, the following assets, liabilities and obligations were recorded in the Company’s accompanying balance sheet at December 31, 2018 (amounts in thousands): Property and equipment (Note 2) $ 1,018,499 Cash and cash equivalents - unrestricted 11,653 Notes receivable (Note 3) 11,230 Trade receivables 2,019 Prepaid expenses and other assets 20,419 Intangible assets (Note 1) 241,973 Total assets acquired 1,305,793 Debt and capital lease obligations (Note 5) (494,578) Accounts payable and accrued liabilities (70,215) Total liabilities assumed (564,793) Noncontrolling interest in consolidated joint venture (287,433) Previously unconsolidated investment in joint venture (86,913) Gain on re-measurement of pre-existing equity method investment (131,437) Purchase price of additional interest in Gaylord Rockies joint venture $ 235,217 Pursuant to the amended and restated joint venture agreements, certain affiliates of Ares have a put right to require the Company to purchase their joint venture interests at an appraised value during an annual window period, or under certain other circumstances, in consideration of cash or OP Units of the Operating Partnership. Such put right may be exercised for a number of OP Units, which have economic terms that are substantially similar to shares of the Company’s common stock. Any OP Units issued by the Operating Partnership will be redeemable at the option of the holders thereof for cash or shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments. Affiliates of RIDA also have a put right at an appraised value, for cash, which will become exercisable at the earlier of five years after the closing under the Purchase Agreement or the date on which a certain change of control of RIDA occurs. The Company also entered into a tax protection agreement in connection with the December 31, 2018 purchase of additional interests in the Gaylord Rockies joint venture, which will generally require the Company to, among other things, indemnify certain Ares affiliates that are members of the Gaylord Rockies joint venture that remain invested in the Gaylord Rockies joint venture for 50% of any income taxes incurred by them as a result of a direct or indirect sale or other disposition of the Gaylord Rockies joint venture, within seven years of closing, and for 100% of any income taxes incurred by them as a result of the failure to comply with certain obligations related to nonrecourse liability allocations and debt guarantee opportunities for the purpose of protecting such parties’ tax bases. In connection with its investment, the Company has provided a completion guarantee under each of the construction loan and mezzanine 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. As of December 31, 2018, the Company had not recorded any liability in the consolidated balance sheet associated with these guarantees.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt
Debt	5. Debt The Company’s debt and capital lease obligations at December 31 consisted of (amounts in thousands): 2018 2017 $700M Revolving Credit Facility, less unamortized DFCs of $6,542 and $9,076 $ 518,458 $ 161,924 $200M Term Loan A, less unamortized DFCs of $1,220 and $1,557 198,780 198,443 $500M Term Loan B, less unamortized DFCs of $5,307 and $7,595 485,943 488,655 $350M Senior Notes, less unamortized DFCs of $2,385 and $3,340 347,615 346,660 $400M Senior Notes, less unamortized DFCs of $4,097 and $4,929 395,903 395,071 $500M Construction Loan (Gaylord Rockies JV), less unamortized DFCs of $1,807 and $0 457,090 — $39M Mezzanine Loan (Gaylord Rockies JV), less unamortized DFCs of $227 and $0 37,488 — Capital lease obligations 618 639 Total debt $ 2,441,895 $ 1,591,392 At December 31, 2018, the Company was in compliance with all covenants related to its outstanding debt. Annual maturities of long-term debt, excluding capital lease obligations, are as follows (amounts in thousands): Years 2019 2020 2021 2022 2023 Thereafter Total $700M Revolving Credit Facility $ — $ — $ 525,000 $ — $ — $ — $ 525,000 $200M Term Loan A — — — 200,000 — — 200,000 $500M Term Loan B 5,000 5,000 5,000 5,000 5,000 466,250 491,250 $350M 5% Senior Notes — — 350,000 — — — 350,000 $400M 5% Senior Notes — — — — 400,000 — 400,000 $500M Construction Loan (1) 458,897 — — — — — 458,897 $39M Mezzanine Loan (1) 37,715 — — — — — 37,715 Total $ 501,612 $ 5,000 $ 880,000 $ 205,000 $ 405,000 $ 466,250 $ 2,462,862 (1) The $500 million construction loan and the $39 million mezzanine loan are indebtedness of the Gaylord Rockies joint venture. Credit Facility On May 11, 2017, the Company entered into a Fifth Amended and Restated Credit Agreement (the “Credit Agreement”) among the Company, as guarantor, the Operating Partnership, as borrower, certain other subsidiaries of the Company party thereto, as guarantors, certain subsidiaries of the Company party thereto, as pledgors, the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent, which amended and restated the Company’s existing credit facility. In addition, on May 23, 2017, the Company entered into Amendment No. 1 (the “Amendment No. 1”) and on June 26, 2018, the Company entered into Amendment No. 2 (the “Amendment No. 2”) to the Credit Agreement among the same parties, as discussed below. As amended, the Company’s credit facility consists of a $700.0 million senior secured revolving credit facility (the “Revolver”), a $200.0 million senior secured term loan A (the “Term Loan A”), and a $500.0 million senior secured term loan B (the “Term Loan B”), each as discussed below. Each of the Revolver, Term Loan A and Term Loan B is guaranteed by the Company, each of the four wholly-owned subsidiaries that own the Gaylord Hotels properties, and certain other of the Company’s subsidiaries. Each is secured by (i) a first mortgage lien on the real property of each of the four owned Gaylord Hotels properties, (ii) pledges of equity interests in the Company’s subsidiaries that own the Gaylord Hotels properties, (iii) the personal property of the Company, the Operating Partnership and the subsidiaries that guarantee the Credit Agreement and (iv) all proceeds and products from the Company’s Gaylord Hotels properties. Advances are subject to a 55% borrowing base, based on the appraisal value of the Gaylord Hotels properties (reduced to 50% in the event one of the Gaylord Hotel properties is sold). Assets of the Gaylord Rockies joint venture are not subject to the liens of the credit facility. In addition, each of the Revolver, Term Loan A and Term Loan B contains certain covenants which, among other things, limit the incurrence of additional indebtedness, investments, dividends, transactions with affiliates, asset sales, acquisitions, mergers and consolidations, liens and encumbrances and other matters customarily restricted in such agreements. If an event of default shall occur and be continuing under the Credit Agreement, the commitments under the Credit Agreement may be terminated and the principal amount outstanding under the Credit Agreement, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable. As a result of the refinancing of its previous credit facility, the Company wrote off $0.9 million of DFCs during 2017. $700 Million Revolving Credit Facility Pursuant to Amendment No. 1, the Company extended the maturity of the Revolver to May 23, 2021. Borrowings under the Revolver bear interest at an annual rate equal to, at the Company’s option, either (i) LIBOR plus the applicable margin ranging from 1.55% to 2.40%, dependent upon the Company’s funded debt to total asset value ratio (as defined in the Credit Agreement) or (ii) a base rate as set in the Credit Agreement. At December 31, 2018, the interest rate on the Revolver is LIBOR plus 1.55%. No additional amounts were borrowed under the Revolver at closing. $200 Million Term Loan A Amendment No. 1 also provides for the Term Loan A, which has a maturity date of May 23, 2022. Borrowings under the Term Loan A bear interest at an annual rate equal to, at the Company’s option, either (i) LIBOR plus the applicable margin ranging from 1.50% to 2.35%, dependent upon the Company’s funded debt to total asset value ratio (as defined in the Credit Agreement) or (ii) a base rate as set in the Credit Agreement. At December 31, 2018, the interest rate on the Term Loan A was LIBOR plus 1.50%. Amounts borrowed under the Term Loan A that are repaid or prepaid may not be reborrowed. At closing, the Company drew down on the Term Loan A in full. Net proceeds, after certain transaction expenses payable at closing, were approximately $194.6 million and were used to pay down a portion of the Revolver. $500 Million Term Loan B In May 2017, pursuant to the Credit Agreement discussed above, the Company increased its previous $400 million term loan B facility to the $500 million Term Loan B and extended the maturity to May 11, 2024. Amendment No. 2 reduced the interest on borrowings under the Term Loan B to an annual rate equal to, at the Company’s option, either (i) LIBOR plus 2.00% or (ii) a base rate as set in the Credit Agreement. At December 31, 2018, the interest rate on the Term Loan B was LIBOR plus 2.00%. The Term Loan B amortizes in equal quarterly installments in aggregate annual amounts equal to 1.0% of the original principal amount of $500.0 million, with the balance due at maturity. Amounts borrowed under the Term Loan B that are repaid or prepaid may not be reborrowed. At closing, the Company drew down on the Term Loan B in full. Net proceeds, after the repayment of the previous $400 million term loan B and certain transaction expenses payable at closing, were approximately $114.3 million and were used to pay down a portion of the Revolver. Amendment No. 2 did not change the maturity dates existing under the Credit Agreement or result in any increase or decrease in outstanding borrowings. As a result of the repricing of the Term Loan B, the Company wrote off $2.0 million in DFCs in 2018, which are included in interest expense in the accompanying consolidated statement of operations. $350 Million 5% Senior Notes Due 2021 On April 3, 2013, the Operating Partnership and Finco completed the private placement of $350.0 million in aggregate principal amount of senior notes due 2021 (the “$350 Million 5% Senior Notes”), which are guaranteed by the Company and its subsidiaries that guarantee the Credit Facility. The $350 Million 5% Senior Notes and guarantees were issued pursuant to an indenture by and among the issuing subsidiaries and the guarantors and U.S. Bank National Association, as trustee. The $350 Million 5% Senior Notes have a maturity date of April 15, 2021 and bear interest at 5% per annum, payable semi-annually in cash in arrears on April 15 and October 15 of each year. The $350 Million 5% Senior Notes are general unsecured and unsubordinated obligations of the issuing subsidiaries and rank equal in right of payment with such subsidiaries’ existing and future senior unsecured indebtedness and senior in right of payment to future subordinated indebtedness, if any. The $350 Million 5% Senior Notes are effectively subordinated to the issuing subsidiaries’ secured indebtedness to the extent of the value of the assets securing such indebtedness. The guarantees rank equally in right of payment with the applicable guarantor’s existing and future senior unsecured indebtedness and senior in right of payment to any future subordinated indebtedness of such guarantor. The $350 Million 5% Senior Notes are effectively subordinated to any secured indebtedness of any guarantor to the extent of the value of the assets securing such indebtedness and structurally subordinated to all indebtedness and other obligations of the Operating Partnership’s subsidiaries that do not guarantee the $350 Million 5% Senior Notes. The $350 Million 5% Senior Notes are redeemable, in whole or in part, at a redemption price expressed as a percentage of the principal amount thereof, which percentage is 101.25% and 100.00% beginning on April 15, 2018 and 2019, respectively, plus accrued and unpaid interest thereon to, but not including, the redemption date. In connection with the issuance of the $350 Million 5% Senior Notes, in November 2013, the Company completed a registered offer to exchange the $350 Million 5% Senior Notes for registered notes with substantially identical terms as the $350 Million 5% Senior Notes. $400 Million 5% Senior Notes Due 2023 On April 14, 2015, the Operating Partnership and Finco completed the private placement of $400.0 million in aggregate principal amount of senior notes due 2023 (the “$400 Million 5% Senior Notes”), which are guaranteed by the Company and its subsidiaries that guarantee the Credit Facility. The $400 Million 5% Senior Notes and guarantees were issued pursuant to an indenture by and among the issuing subsidiaries and the guarantors and U.S. Bank National Association as trustee. The $400 Million 5% Senior Notes have a maturity date of April 15, 2023 and bear interest at 5% per annum, payable semi-annually in cash in arrears on April 15 and October 15 of each year. The $400 Million 5% Senior Notes are general unsecured and unsubordinated obligations of the issuing subsidiaries and rank equal in right of payment with such subsidiaries’ existing and future senior unsecured indebtedness and senior in right of payment to future subordinated indebtedness, if any. The $400 Million 5% Senior Notes are effectively subordinated to the issuing subsidiaries’ secured indebtedness to the extent of the value of the assets securing such indebtedness. The guarantees rank equally in right of payment with the applicable guarantor’s existing and future senior unsecured indebtedness and senior in right of payment to any future subordinated indebtedness of such guarantor. The $400 Million 5% Senior Notes are effectively subordinated to any secured indebtedness of any guarantor to the extent of the value of the assets securing such indebtedness and structurally subordinated to all indebtedness and other obligations of the Operating Partnership’s subsidiaries that do not guarantee the $400 Million 5% Senior Notes. The $400 Million 5% Senior Notes will be redeemable, in whole or in part, at any time on or after April 15, 2018 at a redemption price expressed as a percentage of the principal amount thereof, which percentage is 103.75%, 102.50%, 101.25% and 100.00% beginning on April 15 of 2018, 2019, 2020 and 2021, respectively, plus accrued and unpaid interest thereon to, but not including, the redemption date. In connection with the issuance of the $400 Million 5% Senior Notes, in September 2015, the Company completed a registered offer to exchange the $400 Million 5% Senior Notes for registered notes with substantially identical terms as the $400 Million 5% Senior Notes. $500 Million Construction Loan (Gaylord Rockies Joint Venture) In December 2015, Aurora Convention Hotel, LLC (“Hotel Owner”) and Aurora Convention Center Hotel Lessee, LLC (collectively, “Borrower”), subsidiaries of the entities comprising the Gaylord Rockies joint venture, entered into a Building Loan Agreement (the “Construction Loan”) with Wells Fargo Bank, N.A., as administrative agent, for a senior loan with available borrowings of up to $500.0 million. The Construction Loan bears interest at an annual rate equal to LIBOR plus 3.25% and matures on December 18, 2019, with three optional one-year extensions at the Borrower’s option, subject to certain requirements as defined in the Construction Loan. The Construction Loan is secured by substantially all of the assets of Hotel Owner and an assignment of the hotel’s management agreement. See Note 4 for additional information regarding guarantees the Company has provided under the Construction Loan. $39 Million Mezzanine Loan (Gaylord Rockies Joint Venture) In December 2015, Aurora Convention Hotel Mezz, LLC (“Mezz”) and Aurora Convention Center Hotel Lessee Midco Member, LLC (collectively, “Mezz Borrower”), subsidiaries of the entities comprising the Gaylord Rockies joint venture, entered into a Mezzanine Loan Agreement (the “Mezzanine Loan”) with Marriott International Capital Corporation, for a mezzanine loan with available borrowings, as amended, of up to $39.0 million. The Mezzanine Loan bears interest at an annual rate of LIBOR plus 7.00% and matures on December 18, 2019, with three optional one-year extensions that mirror the Construction Loan. The Mezzanine Loan is secured by Mezz Borrower’s interests in the joint venture. See Note 4 for additional information regarding guarantees the Company has provided under the Mezzanine Loan.

Deferred Management Rights Proc

Deferred Management Rights Proceeds	12 Months Ended
	Dec. 31, 2018
Deferred Management Rights Proceeds
Deferred Management Rights Proceeds	6. Deferred Management Rights Proceeds On October 1, 2012, the Company consummated its agreement to sell the Gaylord Hotels brand and rights to manage the Gaylord Hotels properties (the “Management Rights”) to Marriott for $210.0 million in cash. Effective October 1, 2012, Marriott assumed responsibility for managing the day-to-day operations of the Gaylord Hotels properties pursuant to a management agreement for each Gaylord Hotel property. The Company allocated $190.0 million of the purchase price to the Management Rights, based on the Company’s estimates of the fair values for the respective components. For financial reporting purposes, the amount related to the Management Rights was deferred and is amortized on a straight-line basis over the 65‑year term of the hotel management agreements, including extensions, as a reduction in management fee expense in the accompanying consolidated statements of operations.

Stock Plans

Stock Plans	12 Months Ended
	Dec. 31, 2018
Stock Plans
Stock Plans	7. Stock Plans The Company’s 2016 Omnibus Incentive Plan (the “Plan”) permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other share-based awards to its directors, employees and consultants. At December 31, 2018, approximately 1.5 million shares of common stock remained available for issuance pursuant to future grants of awards under the Plan. The Company does not currently grant stock options under the Plan. There are approximately 16,000 options outstanding and exercisable at December 31, 2018, with an aggregate intrinsic value of $0.7 million. The total intrinsic value of options exercised during 2018, 2017, and 2016 was $0.1 million, $0.1 million, and $3.9 million, respectively. Restricted stock units granted to employees vest one to four years from the date of grant, and restricted stock units granted to non-employee directors vest after one year from the date of grant, unless the recipient chooses to defer the vesting for a period of time. Depending on the type of award, the fair value of restricted stock units is determined either based on the market price of the Company’s stock at the date of grant or based on a Monte-Carlo valuation. Forfeitures are estimated based on historical experience. The Company generally records compensation expense equal to the fair value of each restricted stock unit granted over the vesting period. The weighted-average grant-date fair value of restricted stock units granted during 2018, 2017, and 2016 was $71.74, $66.54, and $47.71, respectively. A summary of the status of the Company’s restricted stock units as of December 31, 2018 and changes during the year ended December 31, 2018, is presented below: Weighted Average Grant-Date Restricted Stock Units Shares Fair Value Nonvested shares at January 1, 2018 413,764 $ 54.57 Granted 160,025 71.74 Vested (189,865) 54.35 Canceled (20,802) 58.44 Nonvested shares at December 31, 2018 363,122 60.24 The fair value of all restricted stock units that vested during 2018, 2017 and 2016 was $11.7 million, $10.2 million and $8.9 million, respectively. At December 31, 2018, there was $11.6 million of total unrecognized compensation cost related to restricted stock units granted under the Company’s equity incentive plans. That cost is expected to be recognized over a weighted-average period of 2.3 years . The compensation cost that has been charged against pre-tax income for all of the Company’s stock-based compensation plans was $7.7 million, $6.6 million, and $6.1 million for 2018, 2017, and 2016, respectively. The total income tax benefit recognized in the accompanying consolidated statements of operations for all of the Company’s stock-based employee compensation plans was $1.7 million, $1.5 million, and $2.0 million for 2018, 2017, and 2016, respectively. Cash received from option exercises under all stock-based employee compensation arrangements for 2018, 2017, and 2016 was $0, $0.1 million, and $1.7 million, respectively. The actual tax benefit realized from exercise, vesting or cancellation of the stock-based employee compensation arrangements during 2018, 2017, and 2016 totaled $1.0 million, $1.0 million, and $1.7 million, respectively, and is reflected as an adjustment to deferred tax liabilities in the accompanying consolidated balance sheets.

Pension Plans

Pension Plans	12 Months Ended
	Dec. 31, 2018
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension Plans	8. Pension Plans Prior to January 1, 2001, the Company maintained a noncontributory defined benefit pension plan in which substantially all of its employees were eligible to participate upon meeting the pension plan’s participation requirements. The benefits were based on years of service and compensation levels. On December 31, 2000, benefits credited under the plan’s previous formula were frozen. On January 1, 2001, the Company amended its defined benefit pension plan to determine future benefits using a cash balance formula. Under the cash formula, each participant had an account which was credited monthly with 3% of qualified earnings and the interest earned on their previous month-end cash balance. In addition, the Company included a “grandfather” clause which assures that those participating at January 1, 2001 will receive the greater of the benefit calculated under the cash balance plan and the benefit that would have been payable if the defined benefit plan had remained in existence. The benefit payable to a terminated vested participant upon retirement at age 65, or as early as age 55 if the participant had 15 years of service at the time the plan was frozen, is equal to the participant’s account balance, which increases with interest credits over time. At retirement, the employee generally receives the balance in the account as a lump sum. The funding policy of the Company is to contribute annually an amount which equals or exceeds the minimum required by applicable law. On December 31, 2001, the plan was frozen such that no new participants were allowed to enter the plan and existing participants were no longer eligible to earn service credits. As a result of increased lump-sum distributions from the retirement plan during 2018, 2017 and 2016, net settlement losses of $1.6 million, $1.7 million and $1.7 million were recognized in 2018, 2017 and 2016, respectively. These settlement losses have been classified as other gains and (losses), net in the accompanying consolidated statements of operations. The following table sets forth the funded status at December 31 (amounts in thousands): 2018 2017 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 85,695 $ 85,360 Interest cost 2,829 3,019 Actuarial (gain) loss (4,459) 3,624 Benefits paid (6,218) (6,308) Benefit obligation at end of year 77,847 85,695 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year 69,245 65,446 Actual return on plan assets (4,937) 10,107 Employer contributions 1,563 — Benefits paid (6,218) (6,308) Fair value of plan assets at end of year 59,653 69,245 Funded status and accrued pension cost $ (18,194) $ (16,450) Net periodic pension expense reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands): 2018 2017 2016 Interest cost $ 2,829 $ 3,019 $ 3,173 Expected return on plan assets (4,363) (4,202) (4,131) Amortization of net actuarial loss 750 919 1,047 Net settlement loss 1,559 1,734 1,715 Total net periodic pension expense $ 775 $ 1,470 $ 1,804 Assumptions The weighted-average assumptions used to determine the benefit obligation at December 31 are as follows: 2018 2017 2016 Discount rate 3.95 % 3.30 % 3.72 % Rate of compensation increase N/A N/A N/A The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows: 2018 2017 2016 Discount rate 3.47 % 3.59 % 3.70 % Rate of compensation increase N/A N/A N/A Expected long-term rate of return on plan assets 6.50 % 6.50 % 6.50 % The rate of increase in future compensation levels was not applicable for any reported years due to the Company amending the plan to freeze the cash balance benefit as described above. The Company determines the overall expected long-term rate of return on plan assets based on its estimate of the return that plan assets will provide over the period that benefits are expected to be paid out. In preparing this estimate, the Company assesses the rates of return on each current allocation of plan assets, and advice from its third-party actuary and investment consultants. The expected return on plan assets is a long-term assumption and generally does not significantly change annually. While historical returns are considered, the rate of return assumption is primarily based on projections of expected returns based on fair value, using economic data and financial models to estimate the probability of returns. The probability distribution of annualized returns for the portfolio using current asset allocations is used to determine the expected range of returns for a ten-to-twenty-year horizon. While management believes that the assumptions used are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension obligations and expense. Plan Assets The plan’s overall strategy is to achieve a rate of return necessary to fund benefit payments by utilizing a variety of asset types, investment strategies and investment managers. The plan seeks to achieve a real long-term rate of return over inflation resulting from income, capital gains, or both, which assists the plan in meeting its long-term objectives. The long-term target allocations for the plan’s assets are managed dynamically according to a sliding scale correlating with the funded status of the plan. As the plan’s funded status increases, allocations are moved away from equity securities toward fixed income securities. Equity securities primarily include large cap and mid cap companies. Fixed income securities primarily include corporate bonds of companies in diversified industries, mortgage-backed securities and U.S. Treasuries. Investments in hedge funds and private equity funds are not held by the plan. The allocation of the defined benefit pension plan’s assets at December 31 are as follows (amounts in thousands): Asset Class 2018 2017 Cash $ 162 $ 642 Mutual funds 59,491 68,603 Total $ 59,653 $ 69,245 All of the assets held by the plan consist of money market and mutual funds traded in an active market. The Company determined the fair value of these assets based on the net asset value per unit of the funds or the portfolio, which is based upon quoted market prices in an active market. Therefore, the Company has categorized these investments as Level 1. Periodically, and based on market conditions, the entire account is rebalanced to maintain the desired allocation and the investment policy is reviewed. Within each asset class, plan assets are allocated to various investment styles. Professional managers manage all assets of the plan and professional advisors assist the plan in the attainment of its objectives. Expected Contributions and Benefit Payments The Company expects to contribute approximately $1.5 million to its defined benefit pension plan in 2019. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands): 2019 $ 4,073 2020 4,694 2021 4,930 2022 5,882 2023 5,066 2024 - 2028 30,061 Other Information The Company also maintains non-qualified pension plans (the “Non-Qualified Plans”) to provide benefits to certain key employees. The Non-Qualified Plans are not funded and the beneficiaries’ rights to receive distributions under these plans constitute unsecured claims to be paid from the Company’s general assets. At December 31, 2018, the Non-Qualified Plans’ projected benefit obligations and accumulated benefit obligations were $13.7 million. The Company’s accrued cost related to its qualified and non-qualified pension plans of $31.9 million and $31.6 million at December 31, 2018 and 2017, respectively, is included in other liabilities in the accompanying consolidated balance sheets. The change in the deferred net loss related to the Company’s retirement plans during 2018, 2017 and 2016 resulted in an increase (decrease) in equity of $(1.3) million, $4.5 million and $3.8 million, respectively, net of taxes of $(0.4) million, $1.5 million, and $0, respectively. Each of these adjustments to equity due to the change in the minimum liability are included in other comprehensive loss in the accompanying consolidated statements of stockholders’ equity. The net gain (loss) recognized in other comprehensive income for the years ended December 31, 2018 and 2017 was $(1.3) million and $4.5 million, respectively. Included in accumulated other comprehensive loss at December 31, 2018 and 2017 are unrecognized actuarial losses of $37.2 million and $35.9 million ($25.9 million and $25.0 million net of tax), respectively, that have not yet been recognized in net periodic pension expense. Net losses are amortized into net periodic pension expense based on the life expectancy of plan participants expected to receive benefits, using a corridor approach based on the greater of projected benefit obligation or fair value of plan assets. The estimated actuarial loss for the retirement plans included in accumulated other comprehensive loss that will be amortized from accumulated other comprehensive loss into net periodic pension expense over the next fiscal year is $1.1 million.

Postretirement Benefits Other t

Postretirement Benefits Other than Pensions	12 Months Ended
	Dec. 31, 2018
Postretirement Health Coverage [Member]
Defined Benefit Plan Disclosure [Line Items]
Postretirement Benefits Other than Pensions	9. Postretirement Benefits Other than Pensions The Company sponsors an unfunded defined benefit postretirement health care plan for certain employees and contributes toward the cost of health insurance benefits. In order to be eligible for these postretirement benefits, an employee must retire after attainment of age 55 and completion of 15 years of service, or attainment of age 65 and completion of 10 years of service. The Company’s Benefits Trust Committee determines retiree premiums. The Company amended the plans effective December 31, 2001 such that only retirees who were receiving benefits under the plans at that time and active employees at that time whose age plus years of service totaled at least 60 and who had at least 10 years of service as of December 31, 2001 remain eligible. The following table reconciles the change in benefit obligation of the postretirement plans to the accrued postretirement liability as reflected in other liabilities in the accompanying consolidated balance sheets at December 31 (amounts in thousands): 2018 2017 Benefit obligation at beginning of year $ 3,167 $ 3,214 Interest cost 96 108 Actuarial (gain) loss (96) 264 Benefits paid (393) (419) Benefit obligation at end of year $ 2,774 $ 3,167 Net postretirement benefit income reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands): 2018 2017 2016 Interest cost $ 96 $ 108 $ 120 Amortization of net actuarial loss 257 245 242 Amortization of prior service credit (1,314) (1,314) (1,314) Total net postretirement benefit income $ (961) $ (961) $ (952) The discount rate used to determine the benefit obligation at December 31, 2018, 2017 and 2016 was 3.83%, 3.15% and 3.47%, respectively. The discount rate used to determine the net postretirement benefit expense for years ended December 31, 2018, 2017 and 2016 was 3.15%, 3.47% and 3.57%, respectively. The Company expects to contribute $0.3 million to the plan in 2019. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands): 2019 $ 326 2020 305 2021 283 2022 264 2023 245 2024 - 2028 995 The net gain, amortization of net loss and amortization of prior service credit recognized in other comprehensive income for 2018 was $0.1 million, $0.3 million, and $1.3 million, respectively. Included in accumulated other comprehensive loss at December 31, 2018 are the following amounts that have not yet been recognized in net postretirement benefit expense: unrecognized actuarial losses of $3.1 million ($1.7 million net of tax) and unrecognized prior service credits of $11.1 million ($6.1 million net of tax). The net loss, amortization of net loss and amortization of prior service credit recognized in other comprehensive income for 2017 was $0.3 million, $0.2 million, and $1.3 million, respectively. Included in accumulated other comprehensive loss at December 31, 2017 are the following amounts that have not yet been recognized in net postretirement benefit expense: unrecognized actuarial losses of $3.5 million ($1.9 million net of tax) and unrecognized prior service credits of $12.4 million ($6.9 million net of tax). The amortization of net loss and amortization of prior service credit recognized in other comprehensive income for 2016 was $0.2 million and $1.3 million, respectively.

Equity

Equity	12 Months Ended
	Dec. 31, 2018
Equity
Equity	10. 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. The repurchases were 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 were made during open trading window periods or pursuant to any applicable Rule 10b5‑1 trading plans. The authorization expired December 31, 2016. During 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 were repurchased under the authorization, was cancelled by the Company and has been reflected as an increase in accumulated deficit at December 31, 2016 in the accompanying consolidated financial statements. Dividends During 2018, the Company’s board of directors declared quarterly dividends totaling $3.40 per share of common stock for the full year, or an aggregate of $174.5 million in cash. During 2017, the Company’s board of directors declared quarterly dividends totaling $3.20 per share of common stock for the full year, or an aggregate of $163.7 million in cash. During 2016, the Company’s board of directors declared quarterly dividends totaling $3.00 per share of common stock for the full year, or an aggregate of $153.0 million in cash. To maintain its qualification as a REIT for federal income tax purposes, the Company must distribute at least 90% of its REIT taxable income each year. The Company’s board of directors has approved the Company’s current dividend policy pursuant to which the Company plans to pay a quarterly cash dividend to stockholders in an amount equal to an annualized payment of at least 50% of adjusted funds from operations (as defined by the Company) less maintenance capital expenditures or 100% of REIT taxable income on an annual basis, whichever is greater. The declaration, timing and amount of dividends will be determined by future action of the Company’s board of directors. The dividend policy may be altered at any time by the Company’s board of directors. Treasury Stock On December 18, 2008, following approval by the Human Resources Committee and the Board of Directors, the Company and the Company’s Chairman of the Board of Directors and Chief Executive Officer (“Executive”) entered into an amendment to Executive’s employment agreement. The amendment provided Executive with the option of making an irrevocable election to invest his existing Supplemental Employee Retirement Plan (“SERP”) benefit in Company common stock, which election Executive subsequently made. The investment was made by a rabbi trust in which, during January 2009, the independent trustee of the rabbi trust purchased shares of Company common stock in the open market in compliance with applicable law. Executive is only entitled to a distribution of the Company common stock held by the rabbi trust in satisfaction of his SERP benefit. As such, the Company believes that the ownership of shares of common stock by the rabbi trust and the distribution of those shares to Executive in satisfaction of his SERP benefit meets the requirements necessary so that the Company will not recognize any increase or decrease in expense as a result of subsequent changes in the value of the Company common stock and the purchased shares are treated as treasury stock and the SERP benefit is included in additional paid-in capital in the Company’s accompanying consolidated financial statements. The increase in treasury stock for a particular year represents dividends received on shares of Company common stock held by the rabbi trust. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component consisted of the following (amounts in thousands): Other-Than- Minimum Temporary Pension Impairment of Liability Investment Total Balance, December 31, 2015 $ (25,047) $ — $ (25,047) Unrealized gains arising during period 2,599 — 2,599 Amounts reclassified from accumulated other comprehensive loss 180 — 180 Income tax expense — — — Net other comprehensive income 2,779 — 2,779 Balance, December 31, 2016 $ (22,268) $ — $ (22,268) Unrealized gains (losses) arising during period 3,111 (6,543) (3,432) Amounts reclassified from accumulated other comprehensive loss 60 — 60 Income tax expense (1,052) — (1,052) Net other comprehensive income (loss) 2,119 (6,543) (4,424) Balance, December 31, 2017 $ (20,149) $ (6,543) $ (26,692) Unrealized losses arising during period (2,231) — (2,231) Amounts reclassified from accumulated other comprehensive loss (64) 333 269 Income tax benefit 630 — 630 Net other comprehensive income (loss) (1,665) 333 (1,332) Balance, December 31, 2018 $ (21,814) $ (6,210) $ (28,024) Amounts reclassified from accumulated comprehensive loss related to the Company’s minimum pension liability are presented in other gains and (losses), net in the accompanying consolidated statements of operations.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	11. Income Taxes The Company has elected to be taxed as a REIT effective January 1, 2013, pursuant to the U.S. Internal Revenue Code of 1986, as amended. As a REIT, generally the Company will not be subject to federal corporate income taxes on ordinary taxable income and capital gains income from real estate investments that it distributes to its stockholders. The Company will continue to be required to pay federal and state corporate income taxes on earnings of its taxable REIT subsidiaries (“TRSs”). The income tax (provision) benefit for continuing operations consists of the following (amounts in thousands): 2018 2017 2016 CURRENT: Federal $ (118) $ (1,107) $ (1,788) State (1,437) (2,375) (1,291) Total current provision (1,555) (3,482) (3,079) DEFERRED: Federal (7,271) 32,308 321 State (2,919) 18,299 (642) Effect of federal tax law change — 2,030 — Total deferred (provision) benefit (10,190) 52,637 (321) Total (provision) benefit for income taxes $ (11,745) $ 49,155 $ (3,400) On December 22, 2017, the TCJA was enacted and included a reduction to the U.S. federal corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017. At December 31, 2017, the Company had not completed its accounting for the tax effects of the enactment; however, based on a reasonable estimate, the Company recorded a non-cash tax benefit of $2.0 million during the fourth quarter of 2017 to reflect the impact of this rate change on existing deferred tax amounts, which is included above as a component of the benefit for income taxes for 2017. During 2018, the Company completed its accounting for all of the enactment-date income tax effects of the TCJA and made no adjustments to the provisional amounts recorded at December 31, 2017. The Company evaluates its deferred tax assets each reporting period to determine if it is more likely than not that those assets will be realized or if a valuation allowance is needed. In the fourth quarter of 2017, due to projected future taxable income of our TRSs driven by fourth quarter 2017 modifications to internal hotel leases, the Company determined that the release of a significant portion of its federal and state valuation allowance was appropriate. This release of valuation allowance totaling $53.4 million was the primary factor for the large income tax benefit for 2017 and is included as a component of the benefit for income taxes for 2017. The Company is required to distribute at least 90% of its annual taxable income, excluding net capital gains, to its stockholders in order to maintain its qualification as a REIT. The taxability of distributions to stockholders is determined by the Company’s earnings and profits, which differs from net income reported for financial reporting purposes. The estimated taxability of cash distributions to common shareholders is as follows (per common share): 2018 2017 2016 Ordinary income $ 2.67 $ 2.97 $ 2.98 Capital gains 0.05 0.03 0.17 Return of capital — 0.15 — $ 2.72 $ 3.15 $ 3.15 The differences between the income tax provision calculated at the statutory U.S. federal income tax rate of 21% for 2018 and 35% for 2017 and 2016 and the actual income tax (provision) benefit recorded for continuing operations are as follows (amounts in thousands): 2018 2017 2016 Statutory federal income tax provision $ (58,047) $ (44,431) $ (56,914) Adjustment for nontaxable income of the REIT 50,075 38,272 48,680 State taxes (net of federal tax benefit) (4,268) (1,317) (1,705) Permanent share-based compensation adjustment 821 1,446 1,571 Other permanent items (46) (251) (200) Federal valuation allowance reversal 46 36,156 5,519 State valuation allowance reversal (net of federal tax benefit) (88) 17,241 (228) Effect of federal tax law change — 2,030 — Other (238) 9 (123) $ (11,745) $ 49,155 $ (3,400) In 2016, the Company adopted ASU 2016‑09, “ Improvements to Employee Share-Based Payment Accounting ”. Upon adoption, the Company recorded an immaterial one-time adjustment to retained earnings for prior unrecognized excess tax benefits, net of allowance, as shown in the accompanying consolidated statement of stockholders’ equity for the year ended December 31, 2016. Beginning in 2016, any excess tax benefit or tax deficiency from share-based payment vesting or settlement is recorded as part of a permanent share-based compensation adjustment. Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands): 2018 2017 DEFERRED TAX ASSETS: Accounting reserves and accruals $ 14,594 $ 14,830 Defined benefit plan 4,620 4,148 Deferred management rights proceeds 44,189 44,651 Federal and State net operating loss carryforwards 59,382 44,789 Tax credits and other carryforwards 870 640 Investment in joint ventures — 317 Other assets 4,427 4,353 Total deferred tax assets 128,082 113,728 Valuation allowance (14,210) (14,616) Total deferred tax assets, net of valuation allowance 113,872 99,112 DEFERRED TAX LIABILITIES: Property and equipment, net 57,931 47,416 Investment in joint ventures 14,135 — Goodwill and other intangibles 478 705 Other liabilities 771 874 Total deferred tax liabilities 73,315 48,995 Net deferred tax assets $ 40,557 $ 50,117 Federal net operating loss carryforwards at December 31, 2018 totaled $169.5 million, resulting in a deferred tax benefit of $35.6 million, which will begin to expire in 2032. Charitable contribution carryforwards at December 31, 2018 totaled $3.6 million, resulting in a deferred tax benefit of $0.7 million, which will begin to expire in 2019. The use of certain federal net operating losses, credits and other deferred tax assets are limited to the Company’s future taxable earnings. As a result, a valuation allowance has been provided for certain federal deferred tax assets. The valuation allowance related to federal deferred tax assets increased (decreased) $0, $(60.6) million and $0.6 million in 2018, 2017 and 2016, respectively. State net operating loss carryforwards at December 31, 2018 totaled $410.3 million, resulting in a deferred tax benefit of $23.8 million, which will expire between 2019 and 2038. The use of certain state net operating losses, credits and other state deferred tax assets are limited to the future taxable earnings of separate legal entities. As a result, a valuation allowance has been provided for certain state deferred tax assets, including loss carryforwards. The valuation allowance related to state deferred tax assets decreased $0.4 million, $13.4 million and $0.2 million in 2018, 2017 and 2016, respectively. The total 2017 decrease in federal and state valuation allowance of $74.0 million differs from the amounts shown in the rate reconciliation of $53.4 million due primarily to the effects of the rate change enacted as a result of the TCJA, which resulted in a reduction in deferred tax assets and liabilities offset by a reduction in the corresponding valuation allowance. Management believes that it is more likely than not that the results of operations will generate sufficient taxable income to realize the deferred tax assets after giving consideration to the valuation allowance. The Company has concluded IRS examinations of the TRS through the 2015 tax year. For federal income tax purposes and substantially all the states with which the Company has nexus, the statute of limitations has expired through 2014. However, the Company has state net operating loss carryforwards from closed years, which could be adjusted upon audit. The Company is routinely subject to other various jurisdictional income tax audits; however, there were no outstanding state or local audits at December 31, 2018. At December 31, 2018 and 2017, the Company had no accruals for unrecognized tax benefits. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. At December 31, 2018 and 2017, the Company has accrued no interest or penalties related to uncertain tax positions.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Commitments and Contingencies	12. Commitments and Contingencies Leases In the accompanying consolidated balance sheets, the following amounts of assets under capitalized lease agreements are included as shown and the related obligations are included in debt (amounts in thousands): 2018 2017 Property and equipment $ 3,636 $ 3,636 Prepaid expenses and other assets 130 130 Accumulated depreciation (3,006) (2,717) Net assets under capital leases $ 760 $ 1,049 Rental expense for operating leases was $14.3 million, $12.5 million, and $12.4 million for 2018, 2017 and 2016, respectively. The Company entered into a 75‑year operating lease agreement during 1999 for 65.3 acres of land located in Osceola County, Florida for the development of Gaylord Palms. The lease requires the Company to make annual base lease payments, which were approximately $4.3 million in 2018. The lease agreement provides for an annual 3% escalation of base rent. The terms of this lease result in the Company recognizing lease expense on a straight-line basis, which resulted in an annual base lease expense of approximately $9.4 million for 2018, 2017, and 2016. This rent included approximately $5.0 million, $5.1 million, and $5.2 million of non-cash expenses during 2018, 2017, and 2016, respectively. The Company also records contingent rental expense based upon net revenues associated with the Gaylord Palms operations. The Company recorded $2.2 million of contingent rental expense related to the Gaylord Palms in each of 2018, 2017, and 2016. At the end of the 75‑year lease term, the Company may extend the operating lease to January 31, 2101, at which point the buildings and fixtures will be transferred to the lessor. Future minimum cash lease commitments under all non-cancelable leases in effect at December 31, 2018 are as follows (amounts in thousands): Capital Operating Leases Leases 2019 $ 46 $ 5,566 2020 46 5,505 2021 46 5,482 2022 46 5,316 2023 46 5,465 Years thereafter 658 577,727 Total minimum lease payments 888 $ 605,061 Less amount representing interest (270) Total present value of minimum payments $ 618 Other Commitments and Contingencies The Company is self-insured up to a stop loss for certain losses relating to workers’ compensation claims and general liability claims through September 30, 2012, and for certain losses related to employee medical benefits through December 31, 2012. The Company’s insurance program has 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 after a change of control. The Company, in the ordinary course of business, is involved in certain legal actions and claims on a variety of other matters. It is the opinion of management that such legal actions will not have a material effect on the financial statements of the Company.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
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 December 31, 2018 and 2017, the Company held certain assets that are required to be measured at fair value on a recurring basis. These included investments held in connection with the Company’s non-qualified contributory deferred compensation plan. These investments consist of money market and mutual funds traded in an active market. The Company determined the fair value of these assets based on the net asset value per unit of the funds or the portfolio, which is based upon quoted market prices in an active market. Therefore, the Company has categorized these investments as Level 1. The Company has consistently applied these valuation techniques in all periods presented and believes it has obtained the most accurate information available for the types of instruments it holds. The Company had no liabilities required to be measured at fair value at December 31, 2018 and December 31, 2017. The Company’s assets measured at fair value on a recurring basis at December 31, were as follows (in thousands): Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 24,687 $ 24,687 $ — $ — Total assets measured at fair value $ 24,687 $ 24,687 $ — $ — Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 25,055 $ 25,055 $ — $ — Total assets measured at fair value $ 25,055 $ 25,055 $ — $ — The remainder of the assets and liabilities held by the Company at December 31, 2018 and 2017 are not required to be measured at fair value, and the carrying value of these assets and liabilities approximates fair value. See Note 4 for additional disclosures related to the fair value measurements used in accounting for the purchase of an additional interest in the Gaylord Rockies joint venture.

Financial Reporting By Business

Financial Reporting By Business Segments	12 Months Ended
	Dec. 31, 2018
Financial Reporting By Business Segments
Financial Reporting By Business Segments	14. Financial Reporting By Business Segments The Company’s continuing operations are organized into the following principal business segments: · Hospitality , which includes the Gaylord Hotels properties, the Inn at Opryland, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture; · Entertainment , which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, and the Company’s other Nashville-based attractions; and · Corporate and Other , which includes the Company’s corporate expenses. The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes. 2018 2017 2016 Revenues: Hospitality $ 1,127,903 $ 1,059,660 $ 1,039,643 Entertainment 147,215 125,059 109,564 Corporate and Other — — — Total $ 1,275,118 $ 1,184,719 $ 1,149,207 Depreciation and amortization: Hospitality $ 108,779 $ 102,759 $ 100,186 Entertainment 10,280 7,074 7,034 Corporate and Other 1,817 2,126 2,596 Total $ 120,876 $ 111,959 $ 109,816 Operating income: Hospitality $ 247,885 $ 223,302 $ 217,018 Entertainment 27,686 33,472 27,903 Corporate and Other (32,650) (33,513) (29,479) Preopening costs (1) (4,869) (1,926) — Impairment charges (2) (23,783) (35,418) — Total operating income 214,269 185,917 215,442 Interest expense (74,961) (66,051) (63,906) Interest income 10,469 11,818 11,500 Income (loss) from joint ventures (3) 125,005 (4,402) (2,794) Other gains and (losses), net 1,633 (337) 2,524 Income before income taxes $ 276,415 $ 126,945 $ 162,766 (1) Preopening costs for 2018 include $2.9 million and $1.9 million for the Hospitality and Entertainment segments, respectively. Preopening costs for 2017 include $0.3 million and $1.6 million for the Hospitality and Entertainment segments, respectively. (2) Impairment charges for 2018 relate to the Entertainment segment. Impairment charges for 2017 relate to the Hospitality segment. (3) Income from joint ventures for 2018 includes $124.4 million (which includes the gain discussed in Note 4) and $0.6 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2017 includes $1.9 million and $2.5 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2016 includes $1.2 million and $1.6 million for the Hospitality and Entertainment segments, respectively. December 31, December 31, 2018 2017 Identifiable assets: Hospitality $ 3,547,638 $ 2,256,395 Entertainment 155,412 132,671 Corporate and Other 150,833 135,162 Total identifiable assets $ 3,853,883 $ 2,524,228 The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands): 2018 2017 2016 Hospitality $ 142,738 $ 163,227 $ 96,372 Entertainment 44,863 18,814 20,940 Corporate and other 616 524 665 Total capital expenditures $ 188,217 $ 182,565 $ 117,977

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited)	15. Quarterly Financial Information (Unaudited) The following is selected unaudited quarterly financial data for the fiscal years ended December 31, 2018 and 2017 (amounts in thousands, except per share data). The sum of the quarterly per share amounts may not equal the annual totals due to rounding. 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Revenues $ 288,370 $ 333,934 $ 292,249 $ 360,565 Depreciation and amortization 28,666 29,995 30,994 31,221 Operating income 45,944 76,699 40,100 51,526 Income before income taxes 29,548 61,222 24,454 161,191 Provision for income taxes (2,209) (5,676) (1,863) (1,997) Net income 27,339 55,546 22,591 159,194 Net income per share 0.53 1.08 0.44 3.10 Net income per share — assuming dilution 0.53 1.08 0.44 3.09 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Revenues $ 276,042 $ 298,778 $ 264,724 $ 345,175 Depreciation and amortization 27,637 27,679 28,546 28,097 Operating income 46,975 64,644 37,510 36,788 Income before income taxes 33,213 48,191 24,400 21,141 (Provision) benefit for income taxes (593) (899) (530) 51,177 Net income 32,620 47,292 23,870 72,318 Net income per share 0.64 0.92 0.47 1.41 Net income per share — assuming dilution 0.63 0.92 0.46 1.41 During the fourth quarter of 2018, the Company recognized a $131.4 million gain associated with the revaluation of its investment interest in the Gaylord Rockies joint venture, as described in Note 4. This gain is included in income from joint ventures in the accompanying consolidated statement of operations. During the fourth quarter of 2018, the Company incurred an impairment charge of $18.0 million associated with the closure of Opry City Stage, as described in Note 1. This impairment charge is included in impairment charges in the accompanying consolidated statement of operations. During the fourth quarter of 2017, the Company incurred an impairment charge of $35.4 million associated with the bonds it received in 2008 related to the Gaylord National construction, which it holds as notes receivable, as described in Note 3. This impairment charge is included in other-than-temporary impairment loss on held-to-maturity securities in the accompanying consolidated statement of operations. During the fourth quarter of 2017, the Company recognized an income tax benefit of $53.4 million associated with the release of valuation allowance, as described in Note 11, which is included in benefit for income taxes in the accompanying consolidated statement of operations.

Information Concerning Guaranto

Information Concerning Guarantor and Non-Guarantor Subsidiaries	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Information Concerning Guarantor and Non-Guarantor Subsidiaries	16. 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 Credit Agreement (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 $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 Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ — $ — $ 1,646,946 $ 1,502,149 $ — $ 3,149,095 Cash and cash equivalents - unrestricted 81 657 54 102,645 — 103,437 Cash and cash equivalents - restricted — — — 45,652 — 45,652 Notes receivable — — — 122,209 — 122,209 Trade receivables, less allowance — — — 67,923 — 67,923 Deferred income tax assets, net — — (444) 41,001 — 40,557 Prepaid expenses and other assets — 34 — 79,460 (1,254) 78,240 Amortized intangible assets — — — 246,770 — 246,770 Intercompany receivables, net — — 1,895,086 — (1,895,086) — Investments 1,101,740 2,950,457 710,516 1,898,756 (6,661,469) — Total assets $ 1,101,821 $ 2,951,148 $ 4,252,158 $ 4,106,565 $ (8,557,809) $ 3,853,883 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,946,699 $ — $ 495,196 $ — $ 2,441,895 Accounts payable and accrued liabilities 50 13,752 7,253 255,089 (1,254) 274,890 Dividends payable 45,019 — — — — 45,019 Deferred management rights proceeds — — — 174,026 — 174,026 Other liabilities — — 100,068 60,975 — 161,043 Intercompany payables, net 587,175 846,478 — 461,433 (1,895,086) — Commitments and contingencies Noncontrolling interest in consolidated joint venture — — — 287,433 — 287,433 Stockholders’ equity: Preferred stock — — — — — — Common stock 513 1 1 2,387 (2,389) 513 Additional paid-in-capital 900,795 499,122 2,895,842 2,668,134 (6,063,098) 900,795 Treasury stock (15,183) — — — — (15,183) Accumulated deficit (388,524) (354,904) 1,248,994 (270,084) (624,006) (388,524) Accumulated other comprehensive loss (28,024) — — (28,024) 28,024 (28,024) Total stockholders' equity 469,577 144,219 4,144,837 2,372,413 (6,661,469) 469,577 Total liabilities and stockholders' equity $ 1,101,821 $ 2,951,148 $ 4,252,158 $ 4,106,565 $ (8,557,809) $ 3,853,883 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ — $ — $ 1,640,274 $ 425,383 $ — $ 2,065,657 Cash and cash equivalents - unrestricted 38 759 36 56,724 — 57,557 Cash and cash equivalents - restricted — — — 21,153 — 21,153 Notes receivable — — — 111,423 — 111,423 Investment in Gaylord Rockies joint venture — — — 88,685 — 88,685 Trade receivables, less allowance — — — 57,520 — 57,520 Deferred income tax assets, net — — (301) 50,418 — 50,117 Prepaid expenses and other assets — — 5 67,826 — 67,831 Intangible assets — — — 4,285 — 4,285 Intercompany receivables, net — — 1,717,157 — (1,717,157) — Investments 1,006,461 2,890,032 651,006 1,364,814 (5,912,313) — Total assets $ 1,006,499 $ 2,890,791 $ 4,008,177 $ 2,248,231 $ (7,629,470) $ 2,524,228 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,590,753 $ — $ 639 $ — $ 1,591,392 Accounts payable and accrued liabilities 150 11,180 15,795 152,524 — 179,649 Dividends payable 42,129 — — — — 42,129 Deferred management rights proceeds — — — 177,057 — 177,057 Other liabilities — — 95,078 60,767 — 155,845 Intercompany payables, net 586,064 895,408 — 235,685 (1,717,157) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 512 1 1 2,387 (2,389) 512 Additional paid-in-capital 896,759 671,875 2,835,468 2,073,818 (5,581,161) 896,759 Treasury stock (13,253) — — — — (13,253) Accumulated deficit (479,170) (278,426) 1,061,835 (427,954) (355,455) (479,170) Accumulated other comprehensive loss (26,692) — — (26,692) 26,692 (26,692) Total stockholders' equity 378,156 393,450 3,897,304 1,621,559 (5,912,313) 378,156 Total liabilities and stockholders' equity $ 1,006,499 $ 2,890,791 $ 4,008,177 $ 2,248,231 $ (7,629,470) $ 2,524,228 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 454,393 $ (23) $ 454,370 Food and beverage — — — 519,890 (47) 519,843 Other hotel revenue — — 305,802 168,071 (320,183) 153,690 Entertainment — — — 147,993 (778) 147,215 Total revenues — — 305,802 1,290,347 (321,031) 1,275,118 Operating expenses: Rooms — — — 118,060 — 118,060 Food and beverage — — — 282,906 — 282,906 Other hotel expenses — — 45,576 600,207 (306,254) 339,529 Management fees, net — — — 30,744 — 30,744 Total hotel operating expenses — — 45,576 1,031,917 (306,254) 771,239 Entertainment — — — 109,120 129 109,249 Corporate 481 1,542 2 28,909 (101) 30,833 Preopening costs — — — 4,869 — 4,869 Corporate overhead allocation 3,400 — 11,405 — (14,805) — Depreciation and amortization — — 61,380 59,496 — 120,876 Impairment charges — — — 23,783 — 23,783 Total operating expenses 3,881 1,542 118,363 1,258,094 (321,031) 1,060,849 Operating income (loss) (3,881) (1,542) 187,439 32,253 — 214,269 Interest expense — (74,936) — (25) — (74,961) Interest income — — — 10,469 — 10,469 Income from joint ventures — — — 125,005 — 125,005 Other gains and (losses), net — — — 1,633 — 1,633 Income (loss) before income taxes (3,881) (76,478) 187,439 169,335 — 276,415 Provision for income taxes — — (280) (11,465) — (11,745) Equity in subsidiaries’ earnings, net 268,551 — — — (268,551) — Net income (loss) $ 264,670 $ (76,478) $ 187,159 $ 157,870 $ (268,551) $ 264,670 Comprehensive income (loss) $ 263,338 $ (76,478) $ 187,159 $ 156,538 $ (267,219) $ 263,338 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 431,768 $ — $ 431,768 Food and beverage — — — 483,945 — 483,945 Other hotel revenue — — 316,402 159,162 (331,617) 143,947 Entertainment — — — 125,844 (785) 125,059 Total revenues — — 316,402 1,200,719 (332,402) 1,184,719 Operating expenses: Rooms — — — 112,636 — 112,636 Food and beverage — — — 269,824 — 269,824 Other hotel expenses — — 44,386 599,760 (316,863) 327,283 Management fees, net — — — 23,856 — 23,856 Total hotel operating expenses — — 44,386 1,006,076 (316,863) 733,599 Entertainment — — — 84,404 109 84,513 Corporate 253 1,596 2 29,536 — 31,387 Preopening costs — — — 1,926 — 1,926 Impairment charges — — — 35,418 — 35,418 Corporate overhead allocation 8,615 — 7,033 — (15,648) — Depreciation and amortization — — 59,534 52,425 — 111,959 Total operating expenses 8,868 1,596 110,955 1,209,785 (332,402) 998,802 Operating income (loss) (8,868) (1,596) 205,447 (9,066) — 185,917 Interest expense — (66,025) — (26) — (66,051) Interest income — — — 11,818 — 11,818 Loss from joint ventures — — — (4,402) — (4,402) Other gains and (losses), net — — — (337) — (337) Income (loss) before income taxes (8,868) (67,621) 205,447 (2,013) — 126,945 (Provision) benefit for income taxes — — (37) 49,192 — 49,155 Equity in subsidiaries’ earnings, net 184,968 — — — (184,968) — Net income (loss) $ 176,100 $ (67,621) $ 205,410 $ 47,179 $ (184,968) $ 176,100 Comprehensive income (loss) $ 171,676 $ (67,621) $ 205,410 $ 42,755 $ (180,544) $ 171,676 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 420,011 $ — $ 420,011 Food and beverage — — — 477,493 — 477,493 Other hotel revenue — — 307,840 157,274 (322,975) 142,139 Entertainment 209 — — 110,333 (978) 109,564 Total revenues 209 — 307,840 1,165,111 (323,953) 1,149,207 Operating expenses: Rooms — — — 109,618 — 109,618 Food and beverage — — — 267,307 — 267,307 Other hotel expenses — — 43,197 588,454 (308,331) 323,320 Management fees, net — — — 22,194 — 22,194 Total hotel operating expenses — — 43,197 987,573 (308,331) 722,439 Entertainment — — — 74,681 (54) 74,627 Corporate 355 1,615 2 24,911 — 26,883 Corporate overhead allocation 8,735 — 6,833 — (15,568) — Depreciation and amortization 156 — 59,076 50,584 — 109,816 Total operating expenses 9,246 1,615 109,108 1,137,749 (323,953) 933,765 Operating income (loss) (9,037) (1,615) 198,732 27,362 — 215,442 Interest expense — (63,880) — (26) — (63,906) Interest income 28 — — 11,472 — 11,500 Loss from joint ventures — — — (2,794) — (2,794) Other gains and (losses), net — — 1,868 656 — 2,524 Income (loss) before income taxes (9,009) (65,495) 200,600 36,670 — 162,766 Provision for income taxes (752) — (273) (2,375) — (3,400) Equity in subsidiaries’ earnings, net 169,127 — — — (169,127) — Net income (loss) $ 159,366 $ (65,495) $ 200,327 $ 34,295 $ (169,127) $ 159,366 Comprehensive income (loss) $ 162,145 $ (65,495) $ 200,327 $ 37,074 $ (171,906) $ 162,145 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 176,611 $ (348,460) $ 74,430 $ 419,338 $ — $ 321,919 Purchases of property and equipment — — (74,412) (113,805) — (188,217) Purchase of additional interest in Gaylord Rockies joint venture — — — (223,564) — (223,564) Purchase of remaining interest in Opry City Stage — — — (3,963) — (3,963) Investment in other joint ventures — — — (2,199) — (2,199) Other investing activities — — — (5,367) — (5,367) Net cash used in investing activities — — (74,412) (348,898) — (423,310) Net borrowings under revolving credit facility — 354,000 — — — 354,000 Repayments under term loan B — (5,000) — — — (5,000) Deferred financing costs paid — (642) — — — (642) Payment of dividends (172,415) — — — — (172,415) Payment of tax withholdings for share-based compensation (4,164) — — — — (4,164) Other financing activities 11 — — (20) — (9) Net cash provided by (used in) financing activities (176,568) 348,358 — (20) — 171,770 Net change in cash, cash equivalents, and restricted cash 43 (102) 18 70,420 — 70,379 Cash, cash equivalents, and restricted cash, beginning of period 38 759 36 77,877 — 78,710 Cash, cash equivalents, and restricted cash, end of period $ 81 $ 657 $ 54 $ 148,297 $ — $ 149,089 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 165,461 $ (83,057) $ 96,529 $ 116,897 $ — $ 295,830 Purchases of property and equipment — — (96,516) (86,049) — (182,565) Investment in Gaylord Rockies joint venture — — — (16,309) — (16,309) Investment in other joint ventures — — — (9,313) — (9,313) Other investing activities — — — (7,234) — (7,234) Net cash used in investing activities — — (96,516) (118,905) — (215,421) Net repayments under revolving credit facility — (211,400) — — — (211,400) Borrowings under term loan A — 200,000 — — — 200,000 Borrowings under term loan B — 500,000 — — — 500,000 Repayments under term loan B — (393,750) — — — (393,750) Deferred financing costs paid — (12,268) — — — (12,268) Payment of dividends (161,706) — — — — (161,706) Payment of tax withholdings for share-based compensation (3,810) — — — — (3,810) Other financing activities 65 — — (20) — 45 Net cash provided by (used in) financing activities (165,451) 82,582 — (20) — (82,889) Net change in cash, cash equivalents, and restricted cash 10 (475) 13 (2,028) — (2,480) Cash, cash equivalents, and restricted cash, beginning of period 28 1,234 23 79,905 — 81,190 Cash, cash equivalents, and restricted cash, end of period $ 38 $ 759 $ 36 $ 77,877 $ — $ 78,710 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES (in thousands) Parent Non- Guarantor Issuer Guarantor Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 171,231 $ (66,344) $ 31,365 $ 157,349 $ — $ 293,601 Purchases of property and equipment (507) — (36,122) (81,348) — (117,977) Investment in Gaylord Rockies joint venture — — — (70,141) — (70,141) Investment in other joint ventures — — — (2,500) — (2,500) Proceeds from sale of Peterson LOI 6,785 — — — — 6,785 Other investing activities — — 4,622 (323) — 4,299 Net cash provided by (used in) investing activities 6,278 — (31,500) (154,312) — (179,534) Net borrowings under revolving credit facility — 76,000 — — — 76,000 Repayments under term loan B — (4,000) — — — (4,000) 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 dividends (151,160) — — — — (151,160) Payment of tax withholdings for share-based compensation (3,235) — — — — (3,235) Other financing activities, net 1,702 — — (19) — 1,683 Net cash provided by (used in) financing activities (177,504) 66,000 — (19) — (111,523) Net change in cash and cash equivalents 5 (344) (135) 3,018 — 2,544 Cash and cash equivalents at beginning of period 23 1,578 158 76,887 — 78,646 Cash and cash equivalents at end of period $ 28 $ 1,234 $ 23 $ 79,905 $ — $ 81,190

SCHEDULE III Real Estate and Ac

SCHEDULE III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SCHEDULE III Real Estate and Accumulated Depreciation
SCHEDULE III Real Estate and Accumulated Depreciation	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Costs Initital Cost to Company Capitalized Gross Amount at End of Year Date Acq/ Depr Life Encmbr Land Bldgs & Impr Subs to Acq Land Bldgs & Impr Total (2) Acc Depr Constr (yrs) Gaylord Opryland (1) $ 9,817 $ 77,125 $ 656,373 $ 65,230 $ 678,085 $ 743,315 $ 352,407 1983 20-40 Gaylord Palms (1) 21,564 314,661 53,101 35,049 354,278 389,327 163,852 2002 20-40 Gaylord Texan (1) 21,235 388,030 174,227 47,903 535,588 583,491 171,749 2004 20-40 Gaylord National (1) 43,212 840,261 38,777 47,428 874,822 922,250 230,723 2008 20-40 Gaylord Rockies (3) — 57,478 757,287 — 57,478 757,287 814,765 — 2018 20-40 Inn at Opryland — 2,675 7,248 16,098 2,980 23,042 26,022 9,147 1998 20-40 AC Hotel — 9,079 17,340 3,656 9,099 20,975 30,074 2,138 2014 20-40 Miscellaneous — 21,290 16,250 16,519 36,016 18,044 54,060 19,614 N/A 20-40 — $ 186,350 $ 2,418,202 $ 958,751 $ 301,183 $ 3,262,121 $ 3,563,304 $ 949,630 2018 2017 2016 Investment in real estate: Balance at beginning of year $ 2,570,390 $ 2,529,641 $ 2,510,579 Acquisitions 814,765 — — Improvements 179,787 40,749 21,899 Disposals (1,638) — (2,837) Balance at end of year $ 3,563,304 $ 2,570,390 $ 2,529,641 Accumulated depreciation: Balance at beginning of year $ 883,445 $ 818,323 $ 754,861 Depreciation 67,652 65,122 63,718 Disposals (1,467) — (256) Balance at end of year $ 949,630 $ 883,445 $ 818,323 (1) Pledged as collateral under the Company’s credit facility. At December 31, 2018, $527.3 million in borrowings and letters of credit were outstanding under such facility. (2) The aggregate cost of properties for federal income tax purposes is approximately $3.2 billion at December 31, 2018. (3) The Company owns a 61.2% investment in the joint venture that owns Gaylord Rockies.

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Segments	Business Segments Hospitality The Hospitality segment includes the Gaylord Hotels branded hotels, the Inn at Opryland and the AC Hotel, as well as the Company’s equity investment in Gaylord Rockies. See Note 4 for further discussion of this investment. Each of the Company’s hotels, as well as Gaylord Rockies, is managed by Marriott pursuant to a management agreement for each hotel. Entertainment The Entertainment segment includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the General Jackson, the Wildhorse Saloon, and Gaylord Springs, among others. Marriott manages the day-to-day operations of the General Jackson, Gaylord Springs and the Wildhorse Saloon pursuant to management agreements. Corporate and Other The Corporate and Other segment includes operating and general and administrative expenses related to the overall management of the Company which are not allocated to the other reportable segments, including certain costs for the Company’s retirement plans, equity-based compensation plans, information technology, human resources, accounting, and other administrative expenses.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s investments in non-controlled entities in which it has the ability to exercise significant influence over operating and financial policies are accounted for by the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company analyzes its variable interests, including loans, guarantees, management agreements, leasing arrangements and equity investments, to determine if an entity in which it has a variable interest is a variable interest entity (“VIE”). This analysis primarily includes a qualitative review, which is based on a review of the design of the entity, its organizational structure, including decision-making ability, and relevant financial agreements. This analysis is also used to determine if the Company must consolidate the VIE as the primary beneficiary. The terms of the Company’s increased investment in the Gaylord Rockies joint venture and certain related agreements provide that a subsidiary of the Company is the managing member and is responsible for day-to-day management of the joint venture and for future financings meeting certain parameters. Designated decisions, such as refinancings that do not meet established parameters, future expansions of the hotel, transactions with affiliates, selling the hotel, and admitting additional members of the joint venture, are to be approved by a majority vote of a committee consisting of two members designated by the Company and two members designated by the minority partner. Based on management’s analysis of these updated agreements, management concluded the Company’s responsibility for the day-to-day management of the joint venture and for future financings meeting certain parameters results in the Company having the power to direct the activities that most significantly impact the economic performance of the joint venture. In addition, the shared decisions represent protective rights of both parties. Thus, the Company is the primary beneficiary of this variable interest entity at December 31, 2018. As such, the Company consolidated the assets and liabilities of the joint venture effective December 31, 2018 and will begin consolidating the ongoing operations of the joint venture effective January 1, 2019. See “Noncontrolling Interest in Consolidated Joint Venture” and Note 4 below for further discussion.
Property and Equipment	Property and Equipment Property and equipment are stated at cost or at estimated fair value if recorded in connection with purchase accounting. Improvements and significant renovations that extend the lives of existing assets are capitalized. Interest on funds borrowed to finance the construction of major capital additions not funded through furniture, fixtures and equipment reserves is included in the cost of the applicable capital addition. Maintenance and repairs are charged to expense as incurred. Property and equipment are generally depreciated using the straight-line method over the following estimated useful lives: Buildings 40 years Land improvements 20 years Furniture, fixtures and equipment 5-8 years Leasehold improvements The shorter of the lease term or useful life
Cash and Cash Equivalents - Unrestricted	Cash and Cash Equivalents — Unrestricted The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Cash and Cash Equivalents - Restricted	Cash and Cash Equivalents — Restricted Restricted cash and cash equivalents primarily represent funds held by our property managers for furniture, fixtures and equipment reserves. In addition, the Company holds certificates of deposit with an original maturity of greater than three months in order to secure its Tennessee workers’ compensation self-insurance obligations.
Accounts Receivable	Accounts Receivable The Company’s accounts receivable are primarily generated by meetings and convention attendees’ room nights and food and beverage. Receivables arising from these sales are not collateralized. Credit risk associated with the accounts receivable is minimized due to the large and diverse nature of the customer base.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company provides allowances for doubtful accounts based upon a percentage of revenue and periodic evaluations of the aging of accounts receivable.
Inventory	Inventories consist primarily of food and beverage inventory for resale and retail inventory sold in the Entertainment segment. Inventory is carried at the lower of cost or net realizable value. Cost is computed on an average cost basis.
Intangible Assets	Intangible Assets In connection with the Company’s purchase price allocation of the Gaylord Rockies joint venture, as discussed further in Note 4, the Company acquired certain definite-lived intangibles, which are shown on the accompanying consolidated balance sheet as of December 31, 2018. Included in these intangibles are advanced bookings of $125.5 million and value in the Gaylord Hotels trade name, which Marriott owns, of $115.3 million. The advanced bookings will be amortized on a straight-line basis over a period of 3.5 years, which corresponds with the period in which the advanced deposits relate, and the value in the trade name will be amortized on a straight-line basis over 30 years, which is the period of the Marriott management agreement. The estimated amounts of amortization expense for the next five years are as follows (amounts in thousands): 2019 $ 40,125 2020 40,125 2021 40,125 2022 22,196 2023 4,267 $ 146,838
Investments	Investments From time to time, the Company has owned minority interest investments in certain businesses. Generally, non-marketable investments (excluding limited partnerships and limited liability company interests) in which the Company owns less than 20 percent are accounted for using the cost method of accounting and investments in which the Company owns between 20 percent and 50 percent and limited partnerships are accounted for using the equity method of accounting.
Income Taxes	Income Taxes The Company establishes deferred tax assets and liabilities based on the difference between the financial statement and income tax carrying amounts of assets and liabilities using existing tax laws and tax rates. The Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. See Note 11 for more detail on the Company’s income taxes. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company has considered projected future taxable income and ongoing feasible tax planning strategies in assessing the need for a valuation allowance.
Deferred Management Rights Proceeds	Deferred Management Rights Proceeds The Company has deferred and amortizes the proceeds received from Marriott that were allocated to the sale of the management rights, as discussed further in Note 6, on a straight-line basis over the 65‑year term of the hotel management agreements, including extensions, as a reduction in management fee expense in the accompanying consolidated statements of operations.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs (“DFCs”) consist of loan fees and other costs of financing that are amortized over the term of the related financing agreements, using the effective interest method, and are presented as a reduction of the related debt liability.
Noncontrolling Interest in Consolidated Joint Venture	Noncontrolling Interest in Consolidated Joint Venture The noncontrolling interest in the Gaylord Rockies joint venture represents the minority partners’ proportionate share of the assets and liabilities of the joint venture at December 31, 2018. The noncontrolling interest is classified in the mezzanine section of the consolidated balance sheet as the related redemption options do not meet the requirements for permanent equity classification because these redemption options may be redeemed by the holder as described in Note 4. Beginning in 2019, an adjustment will also be made for the minority partners’ proportionate share of income or loss. The initial value of the noncontrolling interest, which includes certain put rights, was estimated based on the purchase price allocation performed and is discussed further in Note 4. In general, the carrying value on a go-forward basis will be based on the greater of the accumulated historical cost or the put right redemption value, but at December 31, 2018, the amount represents the fair value of the noncontrolling interest on the date that the Company acquired a controlling interest.
Revenue Recognition	Revenue Recognition Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and a ttrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase, but are not included in revenue. The Company records a liability upon collection from the customer and relieves the liability when payments are remitted to the applicable governmental agency.
Deferred Revenue	The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment.
Management Fees	Management Fees The Company pays Marriott a base management fee of approximately 2% of revenues for the wholly-owned properties that Marriott manages and a base management fee of approximately 3% of revenues for Gaylord Rockies, as well as an incentive fee for each managed property that is based on profitability. Management fees are presented in the consolidated statements of operations net of the amortization of the deferred management rights proceeds discussed further in Note 6.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred and were $41.2 million, $38.4 million, and $36.7 million for 2018, 2017 and 2016, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company has stock-based employee compensation plans, which are described more fully in Note 7. The Company accounts for its stock-based compensation plan under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, “ Compensation – Stock Compensation .”
Preopening Costs	Preopening Costs The Company expenses the costs associated with start-up activities and organization costs associated with its development or reopening of hotels and significant attractions as incurred.
Impairment of Long-Lived and Other Assets	Impairment of Long-Lived and Other Assets In accounting for the Company’s long-lived and other assets (including its notes receivable associated with the development of Gaylord National and Gaylord Rockies), the Company assesses its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets or asset group may not be recoverable. Recoverability of long-lived assets that will continue to be used is measured by comparing the carrying amount of the asset or asset group to the related total future undiscounted net cash flows. If an asset or asset group’s carrying value is not recoverable through those cash flows, the asset group is considered to be impaired. The impairment is measured by the difference between the assets’ carrying amount and their fair value, which is estimated using discounted cash flow analyses that utilize comprehensive cash flow projections, as well as observable market data to the extent available. Recoverability of the notes receivable associated with Gaylord National and Gaylord Rockies is measured by comparing the carrying amount of the notes to the fair value of the notes. If the carrying value is greater than the fair value, the Company then assesses if the decline in fair value is other than temporary. If the decline in fair value is deemed to be other than temporary, which is based on the Company’s intent and ability to hold the notes receivable to maturity and whether it expects to receive all debt service payments due under the notes, then the notes receivable are impaired. Subsequent to the recognition of an other-than-temporary impairment, the Company accounts for the notes receivable as if it had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment previously recognized in earnings. The difference between the new amortized cost basis and the cash flows expected to be collected is accreted into interest income. See Note 3 for further disclosure.
Income Per Share	Income Per Share Earnings per share is measured as basic earnings per share and diluted earnings per share. Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding after considering the effect of conversion of dilutive instruments, calculated using the treasury stock method. Net income per share amounts are calculated as follows for the years ended December 31 (income and share amounts in thousands): 2018 Income Shares Per Share Net income $ 264,670 51,294 $ 5.16 Effect of dilutive stock-based compensation — 213 — Net income — assuming dilution $ 264,670 51,507 $ 5.14 2017 Income Shares Per Share Net income $ 176,100 51,147 $ 3.44 Effect of dilutive stock-based compensation — 224 — Net income — assuming dilution $ 176,100 51,371 $ 3.43 2016 Income Shares Per Share Net income $ 159,366 51,009 $ 3.12 Effect of dilutive stock-based compensation — 303 — Net income — assuming dilution $ 159,366 51,312 $ 3.11
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.
Newly Issued Accounting Standards	Newly Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014‑09, “ Revenue from Contracts with Customers ,” the core principle of which is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. Under this guidance, companies will need to use more judgment and make more estimates than under previous guidance. These judgments may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Due to the short-term, day-to-day nature of the Company’s hospitality and entertainment segment revenues, the pattern of revenue recognition did not change significantly upon adoption. The Company adopted this ASU in the first quarter of 2018 using the modified retrospective approach and has applied the standard to all contracts at the date of initial application. As such, prior period amounts have not been restated, and the Company recorded a transition adjustment to retained earnings of $0.1 million, which is reflected in the consolidated balance sheet and consolidated statement of stockholders’ equity for December 31, 2018 included herein. See “Revenue Recognition” within Note 1 for further disclosures. In February 2016, the FASB issued ASU No. 2016‑02, “ Leases ,” that requires lessees to put most leases on their balance sheet, but recognize expenses on their income statements in a manner similar to previous accounting. The ASU also eliminates the required use of bright-line tests for determining lease classification. The ASU is effective for the Company in the first quarter of 2019, and the Company plans to adopt this standard at that time using the modified retrospective approach, with a cumulative-effect adjustment, if any, to retained earnings in the period of adoption. Prior period amounts will not be restated. In July 2018, the FASB issued ASU 2018-10, “ Codification Improvements to Topic 842, Leases ,” and ASU 2018-11, “ Leases (Topic 842): Targeted Improvements ,” both of which provide practical expedients that the Company plans to adopt. By adopting these practical expedients, the Company will not be required to reassess (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The Company has substantially completed its evaluation of its inventory of leases, determined the appropriate discount rates that will be used to determine the right-of-use assets and lease liabilities, and expects to record a right-of-use asset and corresponding lease liability of approximately $95 million to $105 million as of January 1, 2019. However, the Company expects a net impact to its assets and liabilities of less than $5 million after consideration of its current straight-line lease liability noted in the Other Liabilities table above. See Note 12 for a further disclosure of the Company’s outstanding leases. In June 2016, the FASB issued ASU No. 2016‑13, “ Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments ,” which will change how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The ASU will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowances for losses. The ASU is effective for the Company in the first quarter of 2020. The Company is currently evaluating the effects of this ASU on its financial statements, and such effects have not yet been determined. In November 2016, the FASB issued ASU No. 2016‑18, “ Restricted Cash ,” which requires entities to disclose changes in the total of cash and restricted cash in the statement of cash flows. As a result, entities no longer present transfers between cash and restricted cash in the statement of cash flows, and present a reconciliation of the totals in the statement of cash flows to the related captions on the balance sheet. The Company adopted this ASU in the first quarter of 2018, and this adoption did not have a material impact on the Company’s financial statements. The prior period presentation has been updated to conform to the current year presentation. In March 2017, the FASB issued ASU No. 2017‑07, “ Compensation – Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ,” which changes how employers that sponsor defined benefit pension and/or other postretirement benefit plans present the cost of benefits in the income statement. Under the new guidance, the service cost component of net periodic benefit cost is presented in the same statement of operations line item as other employee compensation costs. In addition, the other components of net periodic benefit cost are presented separately from service cost and outside of operating income, which the Company has included in other gains and (losses), net in the accompanying consolidated statements of operations. The Company adopted this ASU in the first quarter of 2018, and this adoption did not have a material impact on the Company’s financial statements. The prior period presentation has been updated to conform to the current period presentation. In February 2018, the FASB issued ASU No. 2018‑02, “ Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ,” which gives entities the option to reclassify to retained earnings tax effects related to items that have been stranded in accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act (“TCJA”). An entity that elects to reclassify these amounts must reclassify stranded tax effects related to the TCJA’s change in US federal tax rate for all items accounted for in other comprehensive income. These entities can also elect to reclassify other stranded effects that relate to the TCJA but do not directly relate to the change in the federal tax rate. The ASU is effective for the Company in the first quarter of 2019. The Company is currently evaluating the effects of this ASU on its financial statements, and such effects have not yet been determined.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Estimated Useful Lives of Property and Equipment	Property and equipment are generally depreciated using the straight-line method over the following estimated useful lives: Buildings 40 years Land improvements 20 years Furniture, fixtures and equipment 5-8 years Leasehold improvements The shorter of the lease term or useful life
Cash Paid for Interest	Cash paid for interest for the years ended December 31 was comprised of (amounts in thousands): 2018 2017 2016 Debt interest paid $ 74,821 $ 63,325 $ 60,780 Capitalized interest (10,013) (6,645) (1,721) Cash paid for interest, net of capitalized interest $ 64,808 $ 56,680 $ 59,059
Summary of Prepaid Expense and Other Assets	Prepaid expenses and other assets at December 31 consist of (amounts in thousands): 2018 2017 Prepaid expenses $ 15,732 $ 14,526 Inventories 9,823 8,052 Supplemental deferred compensation plan assets 24,687 25,055 Other 27,998 20,198 Total prepaid expenses and other assets $ 78,240 $ 67,831
Summary of Estimated Amounts of Amortization Expense for Next Five Years	The estimated amounts of amortization expense for the next five years are as follows (amounts in thousands): 2019 $ 40,125 2020 40,125 2021 40,125 2022 22,196 2023 4,267 $ 146,838
Accounts Payable and Accrued Liabilities of Continuing Operations	Accounts payable and accrued liabilities at December 31 consist of (amounts in thousands): 2018 2017 Trade accounts payable $ 77,620 $ 32,663 Property and other taxes payable 35,947 34,282 Deferred revenues 69,280 51,232 Accrued salaries and benefits 21,544 25,178 Accrued interest payable 16,027 11,179 Other accrued liabilities 54,472 25,115 Total accounts payable and accrued liabilities $ 274,890 $ 179,649
Other Liabilities	Other liabilities at December 31 consist of (amounts in thousands): 2018 2017 Pension and postretirement benefits liability $ 34,712 $ 34,763 Straight-line lease liability 100,068 95,078 Deferred compensation liability 24,687 25,055 Other 1,576 949 Total other liabilities $ 161,043 $ 155,845
Revenues Disaggregated by Major Source	The Company’s revenues disaggregated by major source are as follows (in thousands): 2018 2017 2016 Hotel group rooms $ 312,364 $ 294,411 $ 291,950 Hotel transient rooms 142,006 137,357 128,061 Hotel food and beverage - banquets 360,181 329,655 324,246 Hotel food and beverage - outlets 159,662 154,290 153,247 Hotel other 153,690 143,947 142,139 Entertainment admissions/ticketing 69,291 63,586 54,028 Entertainment food and beverage 45,961 31,901 28,059 Entertainment retail and other 31,963 29,572 27,477 Total revenues $ 1,275,118 $ 1,184,719 $ 1,149,207
Hospitality Segment Revenues Disaggregated by Location	The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands): 2018 2017 2016 Gaylord Opryland $ 365,999 $ 337,764 $ 331,828 Gaylord Palms 200,763 195,735 195,719 Gaylord Texan 260,418 230,085 231,179 Gaylord National 274,299 268,313 255,846 AC Hotel 10,761 11,805 9,992 Inn at Opryland and other 15,663 15,958 15,079 Total Hospitality segment revenues $ 1,127,903 $ 1,059,660 $ 1,039,643
Income Per Share	Net income per share amounts are calculated as follows for the years ended December 31 (income and share amounts in thousands): 2018 Income Shares Per Share Net income $ 264,670 51,294 $ 5.16 Effect of dilutive stock-based compensation — 213 — Net income — assuming dilution $ 264,670 51,507 $ 5.14 2017 Income Shares Per Share Net income $ 176,100 51,147 $ 3.44 Effect of dilutive stock-based compensation — 224 — Net income — assuming dilution $ 176,100 51,371 $ 3.43 2016 Income Shares Per Share Net income $ 159,366 51,009 $ 3.12 Effect of dilutive stock-based compensation — 303 — Net income — assuming dilution $ 159,366 51,312 $ 3.11

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property and Equipment
Property and Equipment	Property and equipment at December 31 is recorded at cost, with the exception of the Gaylord Rockies joint venture as discussed below, and summarized as follows (amounts in thousands): 2018 2017 Land and land improvements $ 347,654 $ 267,051 Buildings 3,379,041 2,440,471 Furniture, fixtures and equipment 913,528 647,988 Construction-in-progress 48,295 138,702 4,688,518 3,494,212 Accumulated depreciation (1,539,423) (1,428,555) Property and equipment, net $ 3,149,095 $ 2,065,657

Investment in Gaylord Rockies_2

Investment in Gaylord Rockies Joint Venture (Tables)	12 Months Ended
	Dec. 31, 2018
Gaylord Rockies [Member]
Business Acquisition [Line Items]
Summary of purchase price allocation for the acquired assets and liabilities	As a result, the following assets, liabilities and obligations were recorded in the Company’s accompanying balance sheet at December 31, 2018 (amounts in thousands): Property and equipment (Note 2) $ 1,018,499 Cash and cash equivalents - unrestricted 11,653 Notes receivable (Note 3) 11,230 Trade receivables 2,019 Prepaid expenses and other assets 20,419 Intangible assets (Note 1) 241,973 Total assets acquired 1,305,793 Debt and capital lease obligations (Note 5) (494,578) Accounts payable and accrued liabilities (70,215) Total liabilities assumed (564,793) Noncontrolling interest in consolidated joint venture (287,433) Previously unconsolidated investment in joint venture (86,913) Gain on re-measurement of pre-existing equity method investment (131,437) Purchase price of additional interest in Gaylord Rockies joint venture $ 235,217

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt
Summary of Debt and Capital Lease Obligations	The Company’s debt and capital lease obligations at December 31 consisted of (amounts in thousands): 2018 2017 $700M Revolving Credit Facility, less unamortized DFCs of $6,542 and $9,076 $ 518,458 $ 161,924 $200M Term Loan A, less unamortized DFCs of $1,220 and $1,557 198,780 198,443 $500M Term Loan B, less unamortized DFCs of $5,307 and $7,595 485,943 488,655 $350M Senior Notes, less unamortized DFCs of $2,385 and $3,340 347,615 346,660 $400M Senior Notes, less unamortized DFCs of $4,097 and $4,929 395,903 395,071 $500M Construction Loan (Gaylord Rockies JV), less unamortized DFCs of $1,807 and $0 457,090 — $39M Mezzanine Loan (Gaylord Rockies JV), less unamortized DFCs of $227 and $0 37,488 — Capital lease obligations 618 639 Total debt $ 2,441,895 $ 1,591,392
Annual Maturities of Long-Term Debt Excluding Capital Lease Obligations	Annual maturities of long-term debt, excluding capital lease obligations, are as follows (amounts in thousands): Years 2019 2020 2021 2022 2023 Thereafter Total $700M Revolving Credit Facility $ — $ — $ 525,000 $ — $ — $ — $ 525,000 $200M Term Loan A — — — 200,000 — — 200,000 $500M Term Loan B 5,000 5,000 5,000 5,000 5,000 466,250 491,250 $350M 5% Senior Notes — — 350,000 — — — 350,000 $400M 5% Senior Notes — — — — 400,000 — 400,000 $500M Construction Loan (1) 458,897 — — — — — 458,897 $39M Mezzanine Loan (1) 37,715 — — — — — 37,715 Total $ 501,612 $ 5,000 $ 880,000 $ 205,000 $ 405,000 $ 466,250 $ 2,462,862 (1) The $500 million construction loan and the $39 million mezzanine loan are indebtedness of the Gaylord Rockies joint venture.

Stock Plans (Tables)

Stock Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Stock Plans
Share-Based Compensation Activity	A summary of the status of the Company’s restricted stock units as of December 31, 2018 and changes during the year ended December 31, 2018, is presented below: Weighted Average Grant-Date Restricted Stock Units Shares Fair Value Nonvested shares at January 1, 2018 413,764 $ 54.57 Granted 160,025 71.74 Vested (189,865) 54.35 Canceled (20,802) 58.44 Nonvested shares at December 31, 2018 363,122 60.24

Pension Plans (Tables)

Pension Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Funded Status and Accrued Pension Cost	The following table sets forth the funded status at December 31 (amounts in thousands): 2018 2017 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 85,695 $ 85,360 Interest cost 2,829 3,019 Actuarial (gain) loss (4,459) 3,624 Benefits paid (6,218) (6,308) Benefit obligation at end of year 77,847 85,695 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year 69,245 65,446 Actual return on plan assets (4,937) 10,107 Employer contributions 1,563 — Benefits paid (6,218) (6,308) Fair value of plan assets at end of year 59,653 69,245 Funded status and accrued pension cost $ (18,194) $ (16,450)
Assumptions Used to Determine Benefit Obligations	The weighted-average assumptions used to determine the benefit obligation at December 31 are as follows: 2018 2017 2016 Discount rate 3.95 % 3.30 % 3.72 % Rate of compensation increase N/A N/A N/A The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows: 2018 2017 2016 Discount rate 3.47 % 3.59 % 3.70 % Rate of compensation increase N/A N/A N/A Expected long-term rate of return on plan assets 6.50 % 6.50 % 6.50 %
Allocation of Defined Benefit Pension Plans Assets	The allocation of the defined benefit pension plan’s assets at December 31 are as follows (amounts in thousands): Asset Class 2018 2017 Cash $ 162 $ 642 Mutual funds 59,491 68,603 Total $ 59,653 $ 69,245
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net periodic pension expense reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands): 2018 2017 2016 Interest cost $ 2,829 $ 3,019 $ 3,173 Expected return on plan assets (4,363) (4,202) (4,131) Amortization of net actuarial loss 750 919 1,047 Net settlement loss 1,559 1,734 1,715 Total net periodic pension expense $ 775 $ 1,470 $ 1,804
Expected Future Benefit Payments	The Company expects to contribute approximately $1.5 million to its defined benefit pension plan in 2019. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands): 2019 $ 4,073 2020 4,694 2021 4,930 2022 5,882 2023 5,066 2024 - 2028 30,061

Postretirement Benefits Other_2

Postretirement Benefits Other than Pensions (Tables)	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Change in Benefit Obligation of the Postretirement Plans to the Accrued Postretirement Liability	The following table reconciles the change in benefit obligation of the postretirement plans to the accrued postretirement liability as reflected in other liabilities in the accompanying consolidated balance sheets at December 31 (amounts in thousands): 2018 2017 Benefit obligation at beginning of year $ 3,167 $ 3,214 Interest cost 96 108 Actuarial (gain) loss (96) 264 Benefits paid (393) (419) Benefit obligation at end of year $ 2,774 $ 3,167
Postretirement Health Coverage [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net postretirement benefit income reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands): 2018 2017 2016 Interest cost $ 96 $ 108 $ 120 Amortization of net actuarial loss 257 245 242 Amortization of prior service credit (1,314) (1,314) (1,314) Total net postretirement benefit income $ (961) $ (961) $ (952)
Expected Future Benefit Payments	The Company expects to contribute $0.3 million to the plan in 2019. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands): 2019 $ 326 2020 305 2021 283 2022 264 2023 245 2024 - 2028 995

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Equity
Summary of Changes in Accumulated Other Comprehensive Loss by Component	Changes in accumulated other comprehensive loss by component consisted of the following (amounts in thousands): Other-Than- Minimum Temporary Pension Impairment of Liability Investment Total Balance, December 31, 2015 $ (25,047) $ — $ (25,047) Unrealized gains arising during period 2,599 — 2,599 Amounts reclassified from accumulated other comprehensive loss 180 — 180 Income tax expense — — — Net other comprehensive income 2,779 — 2,779 Balance, December 31, 2016 $ (22,268) $ — $ (22,268) Unrealized gains (losses) arising during period 3,111 (6,543) (3,432) Amounts reclassified from accumulated other comprehensive loss 60 — 60 Income tax expense (1,052) — (1,052) Net other comprehensive income (loss) 2,119 (6,543) (4,424) Balance, December 31, 2017 $ (20,149) $ (6,543) $ (26,692) Unrealized losses arising during period (2,231) — (2,231) Amounts reclassified from accumulated other comprehensive loss (64) 333 269 Income tax benefit 630 — 630 Net other comprehensive income (loss) (1,665) 333 (1,332) Balance, December 31, 2018 $ (21,814) $ (6,210) $ (28,024)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
(Provision) Benefit for Income Taxes from Continuing Operations	The income tax (provision) benefit for continuing operations consists of the following (amounts in thousands): 2018 2017 2016 CURRENT: Federal $ (118) $ (1,107) $ (1,788) State (1,437) (2,375) (1,291) Total current provision (1,555) (3,482) (3,079) DEFERRED: Federal (7,271) 32,308 321 State (2,919) 18,299 (642) Effect of federal tax law change — 2,030 — Total deferred (provision) benefit (10,190) 52,637 (321) Total (provision) benefit for income taxes $ (11,745) $ 49,155 $ (3,400)
Summary of Taxability of Cash Distributions Paid on Common Shares	The estimated taxability of cash distributions to common shareholders is as follows (per common share): 2018 2017 2016 Ordinary income $ 2.67 $ 2.97 $ 2.98 Capital gains 0.05 0.03 0.17 Return of capital — 0.15 — $ 2.72 $ 3.15 $ 3.15
Differences Between the Income Tax (Provision) Benefit Calculated at the Statutory U.S. Federal Income Tax Rate of 35% and the Actual Income Tax Benefit Recorded for Continuing Operations	The differences between the income tax provision calculated at the statutory U.S. federal income tax rate of 21% for 2018 and 35% for 2017 and 2016 and the actual income tax (provision) benefit recorded for continuing operations are as follows (amounts in thousands): 2018 2017 2016 Statutory federal income tax provision $ (58,047) $ (44,431) $ (56,914) Adjustment for nontaxable income of the REIT 50,075 38,272 48,680 State taxes (net of federal tax benefit) (4,268) (1,317) (1,705) Permanent share-based compensation adjustment 821 1,446 1,571 Other permanent items (46) (251) (200) Federal valuation allowance reversal 46 36,156 5,519 State valuation allowance reversal (net of federal tax benefit) (88) 17,241 (228) Effect of federal tax law change — 2,030 — Other (238) 9 (123) $ (11,745) $ 49,155 $ (3,400)
Components of Company's Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands): 2018 2017 DEFERRED TAX ASSETS: Accounting reserves and accruals $ 14,594 $ 14,830 Defined benefit plan 4,620 4,148 Deferred management rights proceeds 44,189 44,651 Federal and State net operating loss carryforwards 59,382 44,789 Tax credits and other carryforwards 870 640 Investment in joint ventures — 317 Other assets 4,427 4,353 Total deferred tax assets 128,082 113,728 Valuation allowance (14,210) (14,616) Total deferred tax assets, net of valuation allowance 113,872 99,112 DEFERRED TAX LIABILITIES: Property and equipment, net 57,931 47,416 Investment in joint ventures 14,135 — Goodwill and other intangibles 478 705 Other liabilities 771 874 Total deferred tax liabilities 73,315 48,995 Net deferred tax assets $ 40,557 $ 50,117

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Amounts of Assets Under Capitalized Lease Agreements and Related Obligations are Included in Debt	In the accompanying consolidated balance sheets, the following amounts of assets under capitalized lease agreements are included as shown and the related obligations are included in debt (amounts in thousands): 2018 2017 Property and equipment $ 3,636 $ 3,636 Prepaid expenses and other assets 130 130 Accumulated depreciation (3,006) (2,717) Net assets under capital leases $ 760 $ 1,049
Future Minimum Cash Lease Commitments Under All Non-Cancelable Leases in Effect for Continuing Operations	Future minimum cash lease commitments under all non-cancelable leases in effect at December 31, 2018 are as follows (amounts in thousands): Capital Operating Leases Leases 2019 $ 46 $ 5,566 2020 46 5,505 2021 46 5,482 2022 46 5,316 2023 46 5,465 Years thereafter 658 577,727 Total minimum lease payments 888 $ 605,061 Less amount representing interest (270) Total present value of minimum payments $ 618

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
Assets Measured at Fair Value on Recurring Basis	The Company had no liabilities required to be measured at fair value at December 31, 2018 and December 31, 2017. The Company’s assets measured at fair value on a recurring basis at December 31, were as follows (in thousands): Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 24,687 $ 24,687 $ — $ — Total assets measured at fair value $ 24,687 $ 24,687 $ — $ — Markets for Observable Unobservable December 31, Identical Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Deferred compensation plan investments $ 25,055 $ 25,055 $ — $ — Total assets measured at fair value $ 25,055 $ 25,055 $ — $ —

Financial Reporting By Busine_2

Financial Reporting By Business Segments (Tables)	12 Months Ended
	Dec. 31, 2018
Financial Reporting By Business Segments
Segments' Internal Financial Reports	The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes. 2018 2017 2016 Revenues: Hospitality $ 1,127,903 $ 1,059,660 $ 1,039,643 Entertainment 147,215 125,059 109,564 Corporate and Other — — — Total $ 1,275,118 $ 1,184,719 $ 1,149,207 Depreciation and amortization: Hospitality $ 108,779 $ 102,759 $ 100,186 Entertainment 10,280 7,074 7,034 Corporate and Other 1,817 2,126 2,596 Total $ 120,876 $ 111,959 $ 109,816 Operating income: Hospitality $ 247,885 $ 223,302 $ 217,018 Entertainment 27,686 33,472 27,903 Corporate and Other (32,650) (33,513) (29,479) Preopening costs (1) (4,869) (1,926) — Impairment charges (2) (23,783) (35,418) — Total operating income 214,269 185,917 215,442 Interest expense (74,961) (66,051) (63,906) Interest income 10,469 11,818 11,500 Income (loss) from joint ventures (3) 125,005 (4,402) (2,794) Other gains and (losses), net 1,633 (337) 2,524 Income before income taxes $ 276,415 $ 126,945 $ 162,766 (1) Preopening costs for 2018 include $2.9 million and $1.9 million for the Hospitality and Entertainment segments, respectively. Preopening costs for 2017 include $0.3 million and $1.6 million for the Hospitality and Entertainment segments, respectively. (2) Impairment charges for 2018 relate to the Entertainment segment. Impairment charges for 2017 relate to the Hospitality segment. (3) Income from joint ventures for 2018 includes $124.4 million (which includes the gain discussed in Note 4) and $0.6 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2017 includes $1.9 million and $2.5 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2016 includes $1.2 million and $1.6 million for the Hospitality and Entertainment segments, respectively. December 31, December 31, 2018 2017 Identifiable assets: Hospitality $ 3,547,638 $ 2,256,395 Entertainment 155,412 132,671 Corporate and Other 150,833 135,162 Total identifiable assets $ 3,853,883 $ 2,524,228
Capital Expenditures for Continuing Operations	The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands): 2018 2017 2016 Hospitality $ 142,738 $ 163,227 $ 96,372 Entertainment 44,863 18,814 20,940 Corporate and other 616 524 665 Total capital expenditures $ 188,217 $ 182,565 $ 117,977

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information (Unaudited)
Unaudited Quarterly Financial Data	The following is selected unaudited quarterly financial data for the fiscal years ended December 31, 2018 and 2017 (amounts in thousands, except per share data). The sum of the quarterly per share amounts may not equal the annual totals due to rounding. 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Revenues $ 288,370 $ 333,934 $ 292,249 $ 360,565 Depreciation and amortization 28,666 29,995 30,994 31,221 Operating income 45,944 76,699 40,100 51,526 Income before income taxes 29,548 61,222 24,454 161,191 Provision for income taxes (2,209) (5,676) (1,863) (1,997) Net income 27,339 55,546 22,591 159,194 Net income per share 0.53 1.08 0.44 3.10 Net income per share — assuming dilution 0.53 1.08 0.44 3.09 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Revenues $ 276,042 $ 298,778 $ 264,724 $ 345,175 Depreciation and amortization 27,637 27,679 28,546 28,097 Operating income 46,975 64,644 37,510 36,788 Income before income taxes 33,213 48,191 24,400 21,141 (Provision) benefit for income taxes (593) (899) (530) 51,177 Net income 32,620 47,292 23,870 72,318 Net income per share 0.64 0.92 0.47 1.41 Net income per share — assuming dilution 0.63 0.92 0.46 1.41

Information Concerning Guaran_2

Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ — $ — $ 1,646,946 $ 1,502,149 $ — $ 3,149,095 Cash and cash equivalents - unrestricted 81 657 54 102,645 — 103,437 Cash and cash equivalents - restricted — — — 45,652 — 45,652 Notes receivable — — — 122,209 — 122,209 Trade receivables, less allowance — — — 67,923 — 67,923 Deferred income tax assets, net — — (444) 41,001 — 40,557 Prepaid expenses and other assets — 34 — 79,460 (1,254) 78,240 Amortized intangible assets — — — 246,770 — 246,770 Intercompany receivables, net — — 1,895,086 — (1,895,086) — Investments 1,101,740 2,950,457 710,516 1,898,756 (6,661,469) — Total assets $ 1,101,821 $ 2,951,148 $ 4,252,158 $ 4,106,565 $ (8,557,809) $ 3,853,883 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,946,699 $ — $ 495,196 $ — $ 2,441,895 Accounts payable and accrued liabilities 50 13,752 7,253 255,089 (1,254) 274,890 Dividends payable 45,019 — — — — 45,019 Deferred management rights proceeds — — — 174,026 — 174,026 Other liabilities — — 100,068 60,975 — 161,043 Intercompany payables, net 587,175 846,478 — 461,433 (1,895,086) — Commitments and contingencies Noncontrolling interest in consolidated joint venture — — — 287,433 — 287,433 Stockholders’ equity: Preferred stock — — — — — — Common stock 513 1 1 2,387 (2,389) 513 Additional paid-in-capital 900,795 499,122 2,895,842 2,668,134 (6,063,098) 900,795 Treasury stock (15,183) — — — — (15,183) Accumulated deficit (388,524) (354,904) 1,248,994 (270,084) (624,006) (388,524) Accumulated other comprehensive loss (28,024) — — (28,024) 28,024 (28,024) Total stockholders' equity 469,577 144,219 4,144,837 2,372,413 (6,661,469) 469,577 Total liabilities and stockholders' equity $ 1,101,821 $ 2,951,148 $ 4,252,158 $ 4,106,565 $ (8,557,809) $ 3,853,883 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated ASSETS: Property and equipment, net of accumulated depreciation $ — $ — $ 1,640,274 $ 425,383 $ — $ 2,065,657 Cash and cash equivalents - unrestricted 38 759 36 56,724 — 57,557 Cash and cash equivalents - restricted — — — 21,153 — 21,153 Notes receivable — — — 111,423 — 111,423 Investment in Gaylord Rockies joint venture — — — 88,685 — 88,685 Trade receivables, less allowance — — — 57,520 — 57,520 Deferred income tax assets, net — — (301) 50,418 — 50,117 Prepaid expenses and other assets — — 5 67,826 — 67,831 Intangible assets — — — 4,285 — 4,285 Intercompany receivables, net — — 1,717,157 — (1,717,157) — Investments 1,006,461 2,890,032 651,006 1,364,814 (5,912,313) — Total assets $ 1,006,499 $ 2,890,791 $ 4,008,177 $ 2,248,231 $ (7,629,470) $ 2,524,228 LIABILITIES AND STOCKHOLDERS’ EQUITY: Debt and capital lease obligations $ — $ 1,590,753 $ — $ 639 $ — $ 1,591,392 Accounts payable and accrued liabilities 150 11,180 15,795 152,524 — 179,649 Dividends payable 42,129 — — — — 42,129 Deferred management rights proceeds — — — 177,057 — 177,057 Other liabilities — — 95,078 60,767 — 155,845 Intercompany payables, net 586,064 895,408 — 235,685 (1,717,157) — Commitments and contingencies Stockholders’ equity: Preferred stock — — — — — — Common stock 512 1 1 2,387 (2,389) 512 Additional paid-in-capital 896,759 671,875 2,835,468 2,073,818 (5,581,161) 896,759 Treasury stock (13,253) — — — — (13,253) Accumulated deficit (479,170) (278,426) 1,061,835 (427,954) (355,455) (479,170) Accumulated other comprehensive loss (26,692) — — (26,692) 26,692 (26,692) Total stockholders' equity 378,156 393,450 3,897,304 1,621,559 (5,912,313) 378,156 Total liabilities and stockholders' equity $ 1,006,499 $ 2,890,791 $ 4,008,177 $ 2,248,231 $ (7,629,470) $ 2,524,228
Condensed Consolidating Statement of Operations and Comprehensive Income	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 454,393 $ (23) $ 454,370 Food and beverage — — — 519,890 (47) 519,843 Other hotel revenue — — 305,802 168,071 (320,183) 153,690 Entertainment — — — 147,993 (778) 147,215 Total revenues — — 305,802 1,290,347 (321,031) 1,275,118 Operating expenses: Rooms — — — 118,060 — 118,060 Food and beverage — — — 282,906 — 282,906 Other hotel expenses — — 45,576 600,207 (306,254) 339,529 Management fees, net — — — 30,744 — 30,744 Total hotel operating expenses — — 45,576 1,031,917 (306,254) 771,239 Entertainment — — — 109,120 129 109,249 Corporate 481 1,542 2 28,909 (101) 30,833 Preopening costs — — — 4,869 — 4,869 Corporate overhead allocation 3,400 — 11,405 — (14,805) — Depreciation and amortization — — 61,380 59,496 — 120,876 Impairment charges — — — 23,783 — 23,783 Total operating expenses 3,881 1,542 118,363 1,258,094 (321,031) 1,060,849 Operating income (loss) (3,881) (1,542) 187,439 32,253 — 214,269 Interest expense — (74,936) — (25) — (74,961) Interest income — — — 10,469 — 10,469 Income from joint ventures — — — 125,005 — 125,005 Other gains and (losses), net — — — 1,633 — 1,633 Income (loss) before income taxes (3,881) (76,478) 187,439 169,335 — 276,415 Provision for income taxes — — (280) (11,465) — (11,745) Equity in subsidiaries’ earnings, net 268,551 — — — (268,551) — Net income (loss) $ 264,670 $ (76,478) $ 187,159 $ 157,870 $ (268,551) $ 264,670 Comprehensive income (loss) $ 263,338 $ (76,478) $ 187,159 $ 156,538 $ (267,219) $ 263,338 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 431,768 $ — $ 431,768 Food and beverage — — — 483,945 — 483,945 Other hotel revenue — — 316,402 159,162 (331,617) 143,947 Entertainment — — — 125,844 (785) 125,059 Total revenues — — 316,402 1,200,719 (332,402) 1,184,719 Operating expenses: Rooms — — — 112,636 — 112,636 Food and beverage — — — 269,824 — 269,824 Other hotel expenses — — 44,386 599,760 (316,863) 327,283 Management fees, net — — — 23,856 — 23,856 Total hotel operating expenses — — 44,386 1,006,076 (316,863) 733,599 Entertainment — — — 84,404 109 84,513 Corporate 253 1,596 2 29,536 — 31,387 Preopening costs — — — 1,926 — 1,926 Impairment charges — — — 35,418 — 35,418 Corporate overhead allocation 8,615 — 7,033 — (15,648) — Depreciation and amortization — — 59,534 52,425 — 111,959 Total operating expenses 8,868 1,596 110,955 1,209,785 (332,402) 998,802 Operating income (loss) (8,868) (1,596) 205,447 (9,066) — 185,917 Interest expense — (66,025) — (26) — (66,051) Interest income — — — 11,818 — 11,818 Loss from joint ventures — — — (4,402) — (4,402) Other gains and (losses), net — — — (337) — (337) Income (loss) before income taxes (8,868) (67,621) 205,447 (2,013) — 126,945 (Provision) benefit for income taxes — — (37) 49,192 — 49,155 Equity in subsidiaries’ earnings, net 184,968 — — — (184,968) — Net income (loss) $ 176,100 $ (67,621) $ 205,410 $ 47,179 $ (184,968) $ 176,100 Comprehensive income (loss) $ 171,676 $ (67,621) $ 205,410 $ 42,755 $ (180,544) $ 171,676 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: Rooms $ — $ — $ — $ 420,011 $ — $ 420,011 Food and beverage — — — 477,493 — 477,493 Other hotel revenue — — 307,840 157,274 (322,975) 142,139 Entertainment 209 — — 110,333 (978) 109,564 Total revenues 209 — 307,840 1,165,111 (323,953) 1,149,207 Operating expenses: Rooms — — — 109,618 — 109,618 Food and beverage — — — 267,307 — 267,307 Other hotel expenses — — 43,197 588,454 (308,331) 323,320 Management fees, net — — — 22,194 — 22,194 Total hotel operating expenses — — 43,197 987,573 (308,331) 722,439 Entertainment — — — 74,681 (54) 74,627 Corporate 355 1,615 2 24,911 — 26,883 Corporate overhead allocation 8,735 — 6,833 — (15,568) — Depreciation and amortization 156 — 59,076 50,584 — 109,816 Total operating expenses 9,246 1,615 109,108 1,137,749 (323,953) 933,765 Operating income (loss) (9,037) (1,615) 198,732 27,362 — 215,442 Interest expense — (63,880) — (26) — (63,906) Interest income 28 — — 11,472 — 11,500 Loss from joint ventures — — — (2,794) — (2,794) Other gains and (losses), net — — 1,868 656 — 2,524 Income (loss) before income taxes (9,009) (65,495) 200,600 36,670 — 162,766 Provision for income taxes (752) — (273) (2,375) — (3,400) Equity in subsidiaries’ earnings, net 169,127 — — — (169,127) — Net income (loss) $ 159,366 $ (65,495) $ 200,327 $ 34,295 $ (169,127) $ 159,366 Comprehensive income (loss) $ 162,145 $ (65,495) $ 200,327 $ 37,074 $ (171,906) $ 162,145
Condensed Consolidating Statement of Cash Flows	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 176,611 $ (348,460) $ 74,430 $ 419,338 $ — $ 321,919 Purchases of property and equipment — — (74,412) (113,805) — (188,217) Purchase of additional interest in Gaylord Rockies joint venture — — — (223,564) — (223,564) Purchase of remaining interest in Opry City Stage — — — (3,963) — (3,963) Investment in other joint ventures — — — (2,199) — (2,199) Other investing activities — — — (5,367) — (5,367) Net cash used in investing activities — — (74,412) (348,898) — (423,310) Net borrowings under revolving credit facility — 354,000 — — — 354,000 Repayments under term loan B — (5,000) — — — (5,000) Deferred financing costs paid — (642) — — — (642) Payment of dividends (172,415) — — — — (172,415) Payment of tax withholdings for share-based compensation (4,164) — — — — (4,164) Other financing activities 11 — — (20) — (9) Net cash provided by (used in) financing activities (176,568) 348,358 — (20) — 171,770 Net change in cash, cash equivalents, and restricted cash 43 (102) 18 70,420 — 70,379 Cash, cash equivalents, and restricted cash, beginning of period 38 759 36 77,877 — 78,710 Cash, cash equivalents, and restricted cash, end of period $ 81 $ 657 $ 54 $ 148,297 $ — $ 149,089 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES Parent Non- (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 165,461 $ (83,057) $ 96,529 $ 116,897 $ — $ 295,830 Purchases of property and equipment — — (96,516) (86,049) — (182,565) Investment in Gaylord Rockies joint venture — — — (16,309) — (16,309) Investment in other joint ventures — — — (9,313) — (9,313) Other investing activities — — — (7,234) — (7,234) Net cash used in investing activities — — (96,516) (118,905) — (215,421) Net repayments under revolving credit facility — (211,400) — — — (211,400) Borrowings under term loan A — 200,000 — — — 200,000 Borrowings under term loan B — 500,000 — — — 500,000 Repayments under term loan B — (393,750) — — — (393,750) Deferred financing costs paid — (12,268) — — — (12,268) Payment of dividends (161,706) — — — — (161,706) Payment of tax withholdings for share-based compensation (3,810) — — — — (3,810) Other financing activities 65 — — (20) — 45 Net cash provided by (used in) financing activities (165,451) 82,582 — (20) — (82,889) Net change in cash, cash equivalents, and restricted cash 10 (475) 13 (2,028) — (2,480) Cash, cash equivalents, and restricted cash, beginning of period 28 1,234 23 79,905 — 81,190 Cash, cash equivalents, and restricted cash, end of period $ 38 $ 759 $ 36 $ 77,877 $ — $ 78,710 RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES (in thousands) Parent Non- Guarantor Issuer Guarantor Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities $ 171,231 $ (66,344) $ 31,365 $ 157,349 $ — $ 293,601 Purchases of property and equipment (507) — (36,122) (81,348) — (117,977) Investment in Gaylord Rockies joint venture — — — (70,141) — (70,141) Investment in other joint ventures — — — (2,500) — (2,500) Proceeds from sale of Peterson LOI 6,785 — — — — 6,785 Other investing activities — — 4,622 (323) — 4,299 Net cash provided by (used in) investing activities 6,278 — (31,500) (154,312) — (179,534) Net borrowings under revolving credit facility — 76,000 — — — 76,000 Repayments under term loan B — (4,000) — — — (4,000) 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 dividends (151,160) — — — — (151,160) Payment of tax withholdings for share-based compensation (3,235) — — — — (3,235) Other financing activities, net 1,702 — — (19) — 1,683 Net cash provided by (used in) financing activities (177,504) 66,000 — (19) — (111,523) Net change in cash and cash equivalents 5 (344) (135) 3,018 — 2,544 Cash and cash equivalents at beginning of period 23 1,578 158 76,887 — 78,646 Cash and cash equivalents at end of period $ 28 $ 1,234 $ 23 $ 79,905 $ — $ 81,190

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies - Ownership in Joint Ventures (Details)	Dec. 31, 2018	Mar. 31, 2018	Mar. 31, 2016
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	61.20%		35.00%
Opry City Stage [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)		50.00%

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Joint Venture Interests Acquired - Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2018
Gaylord Rockies [Member]
Business Combination, Consideration Transferred [Abstract]
Purchase price		$ 235,217
Opry City Stage [Member]
Business Combination, Consideration Transferred [Abstract]
Cash paid for acquisition	$ 3,900
Note receivable forgiven	$ 7,900

Description of the Business a_6

Description of the Business and Summary of Significant Accounting Policies - Joint Venture Interests Acquired - Ownership Percentages (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018
Opry City Stage [Member]
Business Combination, Step Acquisition [Abstract]
Impairment charges	$ 22.6
Opry City Stage [Member]
Business Combination, Description [Abstract]
Interest acquired (as a percent)		50.00%
Business Combination, Step Acquisition [Abstract]
Equity interest immediately before the acquisition (as a percent)		50.00%
Total equity interest (as a percent)		100.00%

Description of the Business a_7

Description of the Business and Summary of Significant Accounting Policies - Joint Venture Interests Acquired - Impairment (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Asset Impairment Charges [Abstract]
Impairment and other charges		$ 23,783
Opry City Stage [Member]
Asset Impairment Charges [Abstract]
Impairment and other charges	$ 18,000

Description of the Business a_8

Description of the Business and Summary of Significant Accounting Policies - Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of owned subsidiaries	100.00%
Exchange ratio	1

Description of the Business a_9

Description of the Business and Summary of Significant Accounting Policies - Principles of Consolidation (Details) - Gaylord Rockies [Member]	12 Months Ended
	Dec. 31, 2018item
Schedule of Equity Method Investments [Line Items]
Variable Interest Entity, Conclusion to Consolidate, Change in Facts and Circumstances, Description	The terms of the Company's increased investment in the Gaylord Rockies joint venture and certain related agreements provide that a subsidiary of the Company is the managing member and is responsible for day-to-day management of the joint venture and for future financings meeting certain parameters. Designated decisions, such as refinancings that do not meet established parameters, future expansions of the hotel, transactions with affiliates, selling the hotel, and admitting additional members of the joint venture, are to be approved by a majority vote of a committee consisting of two members designated by the Company and two members designated by the minority partner. Based on management's analysis of these updated agreements, management concluded the Company's responsibility for the day-to-day management of the joint venture and for future financings meeting certain parameters results in the Company having the power to direct the activities that most significantly impact the economic performance of the joint venture. In addition, the shared decisions represent protective rights of both parties. Thus, the Company is the primary beneficiary of this variable interest entity at December 31, 2018. As such, the Company consolidated the assets and liabilities of the joint venture effective December 31, 2018 and will begin consolidating the ongoing operations of the joint venture effective January 1, 2019. See "Noncontrolling Interest in Consolidated Joint Venture" and Note 4 below for further discussion.
Number of committee members	2
Number of minority partners	2

Description of the Business _10

Description of the Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2018
Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	40 years
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	20 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	8 years
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	8 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	The shorter of the lease term or useful life

Description of the Business _11

Description of the Business and Summary of Significant Accounting Policies - Cash Paid for Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest Paid, Including Capitalized Interest, Operating and Investing Activities [Abstract]
Debt interest paid	$ 74,821	$ 63,325	$ 60,780
Capitalized interest	(10,013)	(6,645)	(1,721)
Cash paid for interest, net of capitalized interest	$ 64,808	$ 56,680	$ 59,059

Description of the Business _12

Description of the Business and Summary of Significant Accounting Policies - Cash Paid for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Paid, Net [Abstract]
Net cash payments of income taxes	$ 1.6	$ 4.1	$ 1.7

Description of the Business _13

Description of the Business and Summary of Significant Accounting Policies - Prepaid Expense and Other Assets & Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	$ 15,732	$ 14,526
Inventories	9,823	8,052
Supplemental deferred compensation plan assets	24,687	25,055
Other	27,998	20,198
Total prepaid expenses and other assets	78,240	$ 67,831
Intangible Assets
2,019	40,125
2,020	40,125
2,021	40,125
2,022	22,196
2,023	4,267
Estimated amount of amortization expenses	$ 146,838
Gaylord Rockies [Member] | Advanced Bookings [Member]
Intangible Assets
Useful life (in years)	3 years 6 months
Estimated amount of amortization expenses	$ 125,500
Gaylord Rockies [Member] | Trade Names [Member]
Intangible Assets
Useful life (in years)	30 years
Estimated amount of amortization expenses	$ 115,300

Description of the Business _14

Description of the Business and Summary of Significant Accounting Policies - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Trade accounts payable	$ 77,620	$ 32,663
Property and other taxes payable	35,947	34,282
Deferred revenues	69,280	51,232
Accrued salaries and benefits	21,544	25,178
Accrued interest payable	16,027	11,179
Other accrued liabilities	54,472	25,115
Total accounts payable and accrued liabilities	$ 274,890	$ 179,649

Description of the Business _15

Description of the Business and Summary of Significant Accounting Policies - Deferred Management Rights Proceeds (Details)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Term of management rights for income amortization	65 years

Description of the Business _16

Description of the Business and Summary of Significant Accounting Policies - Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Liabilities [Abstract]
Pension and postretirement benefits liability	$ 34,712	$ 34,763
Straight-line lease liability	100,068	95,078
Deferred compensation liability	24,687	25,055
Other	1,576	949
Total other liabilities	$ 161,043	$ 155,845

Description of the Business _17

Description of the Business and Summary of Significant Accounting Policies - Deferred Financing Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest Expense, Debt [Abstract]
Amortization of deferred financing costs	$ 5,632	$ 5,350	$ 4,863
Gain (Loss) on Extinguishment of Debt [Abstract]
Write-off of deferred financing costs	1,956	925
Interest Expense [Member]
Gain (Loss) on Extinguishment of Debt [Abstract]
Write-off of deferred financing costs	$ 2,000	$ 900

Description of the Business _18

Description of the Business and Summary of Significant Accounting Policies - Revenue Recognition - Revenues Disaggregated by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Total revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues									454,370	431,768	420,011
Hotel Group Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues									312,364	294,411	291,950
Hotel Transient Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues									142,006	137,357	128,061
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues									519,843	483,945	477,493
Hotel Food And Beverage Banquets [Member]
Disaggregation of Revenue [Line Items]
Total revenues									360,181	329,655	324,246
Hotel Food And Beverage Outlets [Member]
Disaggregation of Revenue [Line Items]
Total revenues									159,662	154,290	153,247
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues									153,690	143,947	142,139
Entertainment [Member]
Disaggregation of Revenue [Line Items]
Total revenues									147,215	125,059	109,564
Entertainment Admissions And Ticketing [Member]
Disaggregation of Revenue [Line Items]
Total revenues									69,291	63,586	54,028
Entertainment Food And Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues									45,961	31,901	28,059
Entertainment Retail And Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues									$ 31,963	$ 29,572	$ 27,477

Description of the Business _19

Description of the Business and Summary of Significant Accounting Policies - Revenue Recognition - Hospitality Segment Revenues Disaggregated by Location (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Total revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Gaylord Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues									365,999	337,764	331,828
Gaylord Palms [Member]
Disaggregation of Revenue [Line Items]
Total revenues									200,763	195,735	195,719
Gaylord Texan [Member]
Disaggregation of Revenue [Line Items]
Total revenues									260,418	230,085	231,179
Gaylord National [Member]
Disaggregation of Revenue [Line Items]
Total revenues									274,299	268,313	255,846
AC Hotel [Member]
Disaggregation of Revenue [Line Items]
Total revenues									10,761	11,805	9,992
Inn at Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues									15,663	15,958	15,079
Hospitality [Member]
Disaggregation of Revenue [Line Items]
Total revenues									$ 1,127,903	$ 1,059,660	$ 1,039,643

Description of the Business _20

Description of the Business and Summary of Significant Accounting Policies - Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Contract with Customer, Liability [Abstract]
Deferred revenues	$ 69,280	$ 51,232
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 44,200

Description of the Business _21

Description of the Business and Summary of Significant Accounting Policies - Management Fees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Base management fee (as a percent)	2.00%
Total base management fee	$ 23.3	$ 22	$ 21.4
Incentive fees	$ 11.8	$ 6.1	$ 4.8
Gaylord Rockies [Member]
Business Acquisition [Line Items]
Base management fee (as a percent)	3.00%

Description of the Business _22

Description of the Business and Summary of Significant Accounting Policies - Leases (Details)	Dec. 31, 2018a
Land in Osceola County, Florida [Member]
Operating Leased Assets [Line Items]
Land area covered under operating lease agreement	65.3
Land in Grapevine, Texas [Member]
Operating Leased Assets [Line Items]
Land area covered under operating lease agreement	10

Description of the Business _23

Description of the Business and Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Marketing and Advertising Expense [Abstract]
Advertising costs	$ 41.2	$ 38.4	$ 36.7

Description of the Business _24

Description of the Business and Summary of Significant Accounting Policies - Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net income									$ 264,670	$ 176,100	$ 159,366
Net income - assuming dilution									$ 264,670	$ 176,100	$ 159,366
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average shares outstanding - basic (in shares)									51,294	51,147	51,009
Effect of dilutive stock-based compensation (in shares)									213	224	303
Weighted average shares outstanding - diluted (in shares)									51,507	51,371	51,312
Earnings Per Share, Diluted [Abstract]
Net income, per share (in dollars per share)	$ 3.10	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.47	$ 0.92	$ 0.64	$ 5.16	$ 3.44	$ 3.12
Net income, per share - assuming dilution (in dollars per share)	$ 3.09	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.46	$ 0.92	$ 0.63	$ 5.14	$ 3.43	$ 3.11

Description of the Business _25

Description of the Business and Summary of Significant Accounting Policies - ASU 2014-09 (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative prior period adjustment to retained earnings	$ 134	$ 100

Description of the Business _26

Description of the Business and Summary of Significant Accounting Policies - ASU 2016-02 (Details) - Accounting Standards Update 2016-02 [Member] - Scenario, Forecast [Member] $ in Millions	Jan. 01, 2019USD ($)
Minimum [Member]
Assets and Liabilities, Lessee [Abstract]
Right-of-use asset	$ 95
Lease liability	95
Maximum [Member]
Assets and Liabilities, Lessee [Abstract]
Right-of-use asset	105
Lease liability	105
Expected net impact to assets and liabilities	$ 5

Property and Equipment - Tabula

Property and Equipment - Tabular Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,688,518	$ 3,494,212
Accumulated depreciation	(1,539,423)	(1,428,555)
Property and equipment, net	3,149,095	2,065,657
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	347,654	267,051
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,379,041	2,440,471
Furniture, fixtures and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	913,528	647,988
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 48,295	$ 138,702

Property and Equipment - Deprec

Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Depreciation, Depletion and Amortization [Abstract]
Depreciation expense, including amortization of assets under capital lease obligations	$ 119.5	$ 110.4	$ 108.1

Property and Equipment - Additi

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

Notes Receivable - General Info

Notes Receivable - General Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Dec. 31, 2015	Apr. 30, 2008	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Effective interest rates on bonds (as a percent)		11.42%
Aggregate carrying values			$ 122,209,000	$ 111,423,000
Bonds A Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Bond issued, face value			$ 95,000,000
Interest rates on bonds (as a percent)			8.00%
Maturity date of notes receivable			Jul. 1, 2034
Effective interest rates on bonds (as a percent)		8.04%
Present value of future debt service payments discounted		$ 93,800,000
Aggregate carrying values			$ 77,700,000
Bonds A Series [Member] | Gaylord Rockies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of Bond					Dec. 1, 2030
Payments to acquire held-to-maturity securities	$ 9,000,000
Aggregate carrying values			9,700,000
Aggregate carrying value	$ 20,400,000				$ 20,400,000
Bonds A Series [Member] | November 30, 2020 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	2.50%
Bonds A Series [Member] | December 1, 2020 through November 30, 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	6.00%
Bonds A Series [Member] | From December 1, 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	8.00%
Bonds B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Bond issued, face value			$ 50,000,000
Interest rates on bonds (as a percent)			10.00%
Maturity date of notes receivable			Sep. 1, 2037
Effective interest rates on bonds (as a percent)		11.42%		14.00%
Present value of future debt service payments discounted		$ 38,300,000
Aggregate carrying values			$ 33,300,000
Bonds B Series [Member] | Gaylord Rockies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of Bond					Dec. 1, 2040
Aggregate carrying values			$ 1,500,000
Aggregate carrying value	$ 1,500,000				$ 1,500,000
Bonds B Series [Member] | November 30, 2020 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	2.50%
Bonds B Series [Member] | December 1, 2020 through November 30, 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	6.00%
Bonds B Series [Member] | From December 1, 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rates on bonds (as a percent)	8.00%

Notes Receivable - Additional I

Notes Receivable - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2008	Dec. 31, 2017	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Effective interest rates on bonds (as a percent)	11.42%
Total other-than-temporary impairment loss			$ 41,961
Impairment charges			35,418
Less portion recognized in other comprehensive income			$ 6,543
Bonds B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Effective interest rates on bonds (as a percent)	11.42%		14.00%
Total other-than-temporary impairment loss			$ 42,000
Impairment charges		$ 35,400
Less portion recognized in other comprehensive income			$ 6,500

Notes Receivable - Interest Inc

Notes Receivable - Interest Income and Payments Received (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 10,469	$ 11,818	$ 11,500
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	10,100	11,600	11,400
Payment received relating to notes receivables	$ 10,900	$ 11,100	$ 11,100

Investment in Gaylord Rockies_3

Investment in Gaylord Rockies Joint Venture - General Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)ft²room	Mar. 31, 2016USD ($)
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Purchase price	$ 235,217
Put rights exercisable period (in years)	5 years
Gaylord Rockies [Member] | Tax Protection Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Threshold limit for indemnification of tax losses due to sale or disposition	50.00%
Indemnification period (in years)	7 years
Threshold limit for indemnification of tax losses due to failure to comply obligations	100.00%
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Number of hotel rooms | room	1,501
Area of exhibition, meeting, pre-functional and outdoor space | ft²	485,000
Opening date of hotel	2018-12
Estimated project cost	$ 800,000
Equity interest (as a percent)	61.20%	35.00%
Purchase price	$ 235,217
OP redemption ratio	1
Expected total contribution to the project		$ 86,500

Investment in Gaylord Rockies_4

Investment in Gaylord Rockies Joint Venture - Gaylord Rockies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2016
Business Acquisition
Equity method income (losses) in investment	$ 125,005	$ (4,402)	$ (2,794)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Noncontrolling interest in consolidated joint venture	(287,433)
Gaylord Rockies [Member]
Business Acquisition
Equity method income (losses) in investment	$ 124,400	$ (1,900)	$ (1,200)
Equity interest (as a percent)	61.20%			35.00%
Purchase price	$ 235,217
Number of committee members | item	2
Number of minority partners | item	2
Purchase of additional interest	$ 218,400
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Purchase price of additional interest in Gaylord Rockies joint venture	235,217
Gaylord Rockies [Member]
Business Acquisition
Purchase price	235,217
Gain of pre-existing equity method investment	131,437
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Property and equipment (Note 2)	1,018,499
Cash and cash equivalents - unrestricted	11,653
Notes receivable (Note 3)	11,230
Trade receivables	2,019
Prepaid expenses and other assets	20,419
Intangible assets (Note 1)	241,973
Total assets acquired	1,305,793
Debt and capital lease obligations (Note 5)	(494,578)
Accounts payable and accrued liabilities	(70,215)
Total liabilities assumed	(564,793)
Noncontrolling interest in consolidated joint venture	(287,433)
Previously unconsolidated investment in joint venture	(86,913)
Gain of pre-existing equity method investment	131,437
Purchase price of additional interest in Gaylord Rockies joint venture	$ 235,217

Debt - Summary of Debt and Capi

Debt - Summary of Debt and Capital Lease Obligations - Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Capital lease obligations	$ 618	$ 639
Total debt	2,441,895	1,591,392
$500M Construction Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt	457,090
Unamortized deferred financing costs	1,807	0
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt	37,488
Unamortized deferred financing costs	227	0
Line of Credit [Member] | Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	518,458	161,924
Unamortized deferred financing costs	6,542	9,076
Secured Debt [Member] | $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Long-term debt	198,780	198,443
Unamortized deferred financing costs	1,220	1,557
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Long-term debt	485,943	488,655
Unamortized deferred financing costs	5,307	7,595
Senior Notes [Member] | $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	347,615	346,660
Unamortized deferred financing costs	2,385	3,340
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	395,903	395,071
Unamortized deferred financing costs	$ 4,097	$ 4,929

Debt - Annual Maturities of Lon

Debt - Annual Maturities of Long-Term Debt Excluding Capital Lease Obligations (Details) - USD ($)	Dec. 31, 2018	May 11, 2017	Dec. 31, 2015	Apr. 15, 2015	Apr. 03, 2013
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	$ 501,612,000
2,020	5,000,000
2,021	880,000,000
2,022	205,000,000
2,023	405,000,000
Years thereafter	466,250,000
Total	2,462,862,000
$500M Construction Loan (Gaylord Rockies JV) [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	458,897,000
Total	458,897,000
Face amount			$ 500,000,000
$39M Mezzanine Loan (Gaylord Rockies JV) [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	37,715,000
Total	37,715,000
Face amount			$ 39,000,000
Line of Credit [Member] | $700 Million Revolving Credit Facility [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,021	525,000,000
Total	525,000,000
Secured Debt [Member] | $200 Million Term Loan A [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,022	200,000,000
Total	200,000,000
Face amount	200,000,000
Secured Debt [Member] | $500 Million Term Loan B [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	5,000,000
2,020	5,000,000
2,021	5,000,000
2,022	5,000,000
2,023	5,000,000
Years thereafter	466,250,000
Total	491,250,000
Face amount	500,000,000	$ 500,000,000
Senior Notes [Member] | $350 Million 5% Senior Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,021	350,000,000
Total	350,000,000
Face amount	350,000,000				$ 350,000,000
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,023	400,000,000
Total	400,000,000
Face amount	$ 400,000,000			$ 400,000,000

Debt - Summary of Debt and Ca_2

Debt - Summary of Debt and Capital Lease Obligations - General Information (Details) - USD ($)	May 11, 2017	Dec. 31, 2018	Apr. 15, 2015	Apr. 03, 2013
Line of Credit [Member] | Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 700,000,000
Credit facility, maturity date		May 23, 2021
Line of Credit [Member] | Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.55%
Secured Debt [Member] | $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount		$ 200,000,000
Debt instrument, maturity date		May 23, 2022
Secured Debt [Member] | $200 Million Term Loan A [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.50%
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 500,000,000	$ 500,000,000
Debt instrument, maturity date		May 11, 2024
Secured Debt [Member] | $500 Million Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.00%	2.00%
Senior Notes [Member] | $350 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 350,000,000		$ 350,000,000
Stated interest rate (as a percent)		5.00%		5.00%
Debt instrument, maturity date		Apr. 15, 2021
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)		5.00%	5.00%
Debt instrument, maturity date		Apr. 15, 2023

Debt - Credit Facility (Details

Debt - Credit Facility (Details)	12 Months Ended
	Dec. 31, 2018USD ($)entity	Dec. 31, 2017USD ($)	May 11, 2017USD ($)
Debt Instrument [Line Items]
Number of wholly-owned subsidiaries | entity	4
Percentage of advance borrowing based on appraisal value of hotel properties (as a percent)	55.00%
Percentage of advance borrowing based on appraisal value of hotel properties in the event of hotel property sold (as a percent)	50.00%
Write-off of deferred financing costs	$ 1,956,000	$ 925,000
Line of Credit [Member] | Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	700,000,000
Secured Debt [Member] | $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount	200,000,000
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 500,000,000		$ 500,000,000

Debt - $700 Million Revolving C

Debt - $700 Million Revolving Credit Facility (Details) - Line of Credit [Member] - $700 Million Revolving Credit Facility [Member] - Revolving Credit Facility [Member]	12 Months Ended
	Dec. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 700,000,000
Credit facility, maturity date	May 23, 2021
Additional borrowings	$ 0
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Spread rate (as a percent)	1.55%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Spread rate (as a percent)	1.55%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Spread rate (as a percent)	2.40%

Debt - $200 Million Term Loan A

Debt - $200 Million Term Loan A (Details) - Secured Debt [Member] - $200 Million Term Loan A [Member] - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2017	Dec. 31, 2018
Debt Instrument [Line Items]
Face amount		$ 200,000,000
Debt instrument, maturity date		May 23, 2022
Net proceeds, after certain transaction expenses payable at closing	$ 194,600,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.50%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		1.50%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)		2.35%

Debt - $500 Million Term Loan B

Debt - $500 Million Term Loan B (Details) - USD ($)	May 11, 2017	Dec. 31, 2018	Dec. 31, 2017	May 10, 2017
Debt Instrument [Line Items]
Write-off of deferred financing costs		$ 1,956,000	$ 925,000
Secured Debt [Member] | $400 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount				$ 400,000,000
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 500,000,000	$ 500,000,000
Debt instrument, maturity date		May 11, 2024
Percentage of amortization of original principal balance (as a percent)		1.00%
Net proceeds, after certain transaction expenses payable at closing	$ 114,300,000
Secured Debt [Member] | $500 Million Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.00%	2.00%

Debt - $350 Million 5% Senior N

Debt - $350 Million 5% Senior Notes (Details) - Senior Notes [Member] - $350 Million 5% Senior Notes [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Apr. 03, 2013
Debt Instrument [Line Items]
Face amount	$ 350,000,000	$ 350,000,000
Stated interest rate (as a percent)	5.00%	5.00%
Debt instrument, maturity date	Apr. 15, 2021
Debt instrument, frequency of periodic payment	semi-annually
Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	101.25%
Redemption date	Apr. 15, 2018
Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%
Redemption date	Apr. 15, 2019

Debt - $400 Million 5% Senior N

Debt - $400 Million 5% Senior Notes (Details) - Senior Notes [Member] - $400 Million 5% Senior Notes [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Apr. 15, 2015
Debt Instrument [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)	5.00%	5.00%
Debt instrument, maturity date	Apr. 15, 2023
Debt instrument, frequency of periodic payment	semi-annually
Redemption date	Apr. 15, 2018
Redemption Period One [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	103.75%
Redemption Period Two [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	102.50%
Redemption date	Apr. 15, 2019
Redemption Period Three [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	101.25%
Redemption date	Apr. 15, 2020
Redemption Period Four [Member]
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%
Redemption date	Apr. 15, 2021

Debt - $500M Construction Loan

Debt - $500M Construction Loan (Gaylord Rockies JV (Details) - $500M Construction Loan (Gaylord Rockies JV) [Member] $ in Millions	1 Months Ended
	Dec. 31, 2015USD ($)item
Debt Instrument [Line Items]
Face amount	$ 500
Number of options | item	3
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	3.25%
Extended term	1 year
Senior Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500

Debt - $39M Mezzanine Loan (Gay

Debt - $39M Mezzanine Loan (Gaylord Rockies JV) (Details) - $39M Mezzanine Loan (Gaylord Rockies JV) [Member] $ in Millions	1 Months Ended
	Dec. 31, 2015USD ($)item
Debt Instrument [Line Items]
Face amount	$ 39
Maximum borrowing capacity	$ 39
Number of options | item	3
Extended term	1 year
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	7.00%

Deferred Management Rights Pr_2

Deferred Management Rights Proceeds (Details) - USD ($) $ in Millions	Oct. 01, 2012	Dec. 31, 2018
Deferred Management Rights Proceeds
Sales price of management rights and intellectual property	$ 210
Purchase price to the Management Rights	$ 190
Term of management rights for income amortization		65 years

Stock Plans - Common Stock Avai

Stock Plans - Common Stock Available for Issuance (Details) shares in Millions	Dec. 31, 2018shares
Stock Plans
Maximum grant of stock options, restricted stock, and restricted stock units to directors and employees	1.5

Stock Plans - Stock Options (De

Stock Plans - Stock Options (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Plans
Number of options outstanding (in shares)	16
Number of options exercisable (in shares)	16
Aggregate intrinsic value of options exercisable	$ 0.7
Total intrinsic value of options exercised	$ 0.1	$ 0.1	$ 3.9

Stock Plans - Restricted Stock

Stock Plans - Restricted Stock Units - Vesting (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2018
Employee | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	1 year
Employee | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	4 years
Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period from the date of grant for restricted stock awards granted	1 year

Stock Plans - Restricted Stoc_2

Stock Plans - Restricted Stock Units - Weighted-Average Grant-Date Fair Value of Units Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant-date fair value of restricted stock awards granted (in dollars per share)	$ 71.74	$ 66.54	$ 47.71

Stock Plans - Restricted Stoc_3

Stock Plans - Restricted Stock Units - Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares, beginning balance (in shares)	413,764
Granted (in shares)	160,025
Vested (in shares)	(189,865)
Canceled (in shares)	(20,802)
Nonvested shares, ending balance (in shares)	363,122	413,764
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares, weighted-average grant-date fair value (in dollars per share)	$ 54.57
Granted (in dollars per share)	71.74	$ 66.54	$ 47.71
Vested (in dollars per share)	54.35
Canceled (in dollars per share)	58.44
Nonvested shares, weighted-average grant-date fair value (in dollars per share)	$ 60.24	$ 54.57

Stock Plans - Restricted Stoc_4

Stock Plans - Restricted Stock Units - Fair Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Fair value of restricted stock awards vested	$ 11.7	$ 10.2	$ 8.9

Stock Plans - Restricted Stoc_5

Stock Plans - Restricted Stock Units - Unrecognized Compensation Cost (Details) - Restricted Stock Units (RSUs) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized [Abstract]
Unrecognized compensation cost	$ 11.6
Weighted-average period to recognize compensation cost	2 years 3 months 18 days

Stock Plans - Compensation Expe

Stock Plans - Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Plans
Compensation cost on stock-based compensation plans	$ 7.7	$ 6.6	$ 6.1

Stock Plans - Income Tax Benefi

Stock Plans - Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Tax benefit recognized from all stock-based employee compensation plans	$ 1.7	$ 1.5	$ 2

Stock Plans - Additional Inform

Stock Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Plans
Cash received from stock option exercises	$ 0	$ 0.1	$ 1.7
Employee service share-based compensation tax benefit realized from share-based compensation plans	$ 1	$ 1	$ 1.7

Pension Plans - Qualified Plan

Pension Plans - Qualified Plan - General Information (Details) - Pension Plan [Member] - Qualified Plan [Member]	12 Months Ended
	Dec. 31, 2018age
Defined Benefit Plan Disclosure [Line Items]
Rate of qualified earnings credited to the account of the participant of benefit plan	3.00%
Retirement age benefit payable to a terminated vested participant upon retirement	65
Retirement age for benefit payments, earliest age allowed contingent of minimum service requirement	55
Number of years of service at the time plan was frozen for the eligibility of benefit payable to terminated vested participant at age 55	15 years
Defined benefit plan, funding status	us-gaap:UnderfundedPlanMember

Pension Plans - Qualified Pla_2

Pension Plans - Qualified Plan - Net Settlement Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension Plan [Member] | Qualified Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment [Abstract]
Net settlement loss	$ 1,559	$ 1,734	$ 1,715

Pension Plans - Qualified Pla_3

Pension Plans - Qualified Plan - Change in Benefit Obligation (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 85,695	$ 85,360
Interest cost	2,829	3,019	$ 3,173
Actuarial (gain) loss	(4,459)	3,624
Benefits paid	(6,218)	(6,308)
Benefit obligation at end of year	$ 77,847	$ 85,695	$ 85,360

Pension Plans - Qualified Pla_4

Pension Plans - Qualified Plan - Change in Plan Assets (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 69,245	$ 65,446
Actual return on plan assets	(4,937)	10,107
Employer contributions	1,563
Benefits paid	(6,218)	(6,308)
Fair value of plan assets at end of year	59,653	69,245
Funded status and accrued pension cost	$ (18,194)	$ (16,450)

Pension Plans - Qualified Pla_5

Pension Plans - Qualified Plan - Net Periodic Pension Expense (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 2,829	$ 3,019	$ 3,173
Expected return on plan assets	(4,363)	(4,202)	(4,131)
Recognized net actuarial loss	750	919	1,047
Net settlement loss	1,559	1,734	1,715
Total net periodic benefit cost (credit)	$ 775	$ 1,470	$ 1,804

Pension Plans - Qualified Pla_6

Pension Plans - Qualified Plan - Weighted-Average Assumptions Used to Determine Benefit Obligation (Details) - Pension Plan [Member] - Qualified Plan [Member]	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)	3.95%	3.30%	3.72%
Rate of compensation increase (as a percent)	0.00%	0.00%	0.00%

Pension Plans - Qualified Pla_7

Pension Plans - Qualified Plan - Weighted-Average Assumptions Used in Determining Net Periodic Pension Expense (Details) - Pension Plan [Member] - Qualified Plan [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	3.47%	3.59%	3.70%
Rate of compensation increase	0.00%	0.00%	0.00%
Expected long-term rate of return on plan assets	6.50%	6.50%	6.50%

Pension Plans - Qualified Pla_8

Pension Plans - Qualified Plan - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Minimum time period for expected rate of return	10 years
Maximum time period for expected rate of return	20 years

Pension Plans - Qualified Pla_9

Pension Plans - Qualified Plan - Allocation of Defined Benefit Pension Plans Assets (Details) - Pension Plan [Member] - Qualified Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	$ 59,653	$ 69,245	$ 65,446
Defined Benefit Plan, Cash [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	162	642
Mutual Funds [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Plan assets	$ 59,491	$ 68,603

Pension Plans - Qualified Pl_10

Pension Plans - Qualified Plan - Expected Future Contributions (Details) $ in Millions	Dec. 31, 2018USD ($)
Pension Plan [Member] | Qualified Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions [Abstract]
Expected contribution to defined benefit plan	$ 1.5

Pension Plans - Qualified Pl_11

Pension Plans - Qualified Plan - Expected Future Benefit Payments (Details) - Pension Plan [Member] - Qualified Plan [Member] $ in Thousands	Dec. 31, 2018USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2,019	$ 4,073
2,020	4,694
2,021	4,930
2,022	5,882
2,023	5,066
2024 - 2028	$ 30,061

Pension Plans - Non-Qualified P

Pension Plans - Non-Qualified Plans (Details) - Non-Qualified Plan [Member] $ in Millions	Dec. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, type	us-gaap:PensionPlansDefinedBenefitMember
Defined benefit plan, funding status	us-gaap:UnfundedPlanMember
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Plan with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	$ 13.7
Plan with accumulated benefit obligation in excess of plan assets, projected benefit obligation	13.7
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Plan with projected benefit obligation in excess of plan assets, accumulated benefit obligation	13.7
Plan with projected benefit obligation in excess of plan assets, projected benefit obligation	$ 13.7

Pension Plans - Qualified and N

Pension Plans - Qualified and Non-Qualified Plans - Accrued Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Liability, Defined Benefit Plan [Abstract]
Pension and postretirement benefits liability	$ 34,712	$ 34,763
Pension Plan [Member]
Liability, Defined Benefit Plan [Abstract]
Pension and postretirement benefits liability	$ 31,900	$ 31,600

Pension Plans - Qualified and_2

Pension Plans - Qualified and Non-Qualified Plans - Adjustments to Equity (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Change in equity as a result of change in deferred net loss	$ (1.3)	$ 4.5	$ 3.8
Change in equity as result of change in deferred net loss taxes	$ (0.4)	$ 1.5	$ 0

Pension Plans - Qualified and_3

Pension Plans - Qualified and Non-Qualified Plans - Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss, net of tax	$ 1.7
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss	3.1
Pension Plan [Member]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax [Abstract]
Net gain (loss) recognized in other comprehensive income	(1.3)	$ 4.5
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss, net of tax	25.9	25
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized actuarial losses included in other comprehensive loss	$ 37.2	$ 35.9

Pension Plans - Qualified and_4

Pension Plans - Qualified and Non-Qualified Plans - Expected Amortization Next Fiscal Year (Details) $ in Millions	Dec. 31, 2018USD ($)
Pension Plan [Member]
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract]
Defined benefit plan amounts that will be amortized from accumulated other comprehensive loss in the next fiscal year	$ 1.1

Postretirement Benefits Other_3

Postretirement Benefits Other than Pensions - General Information (Details) - Postretirement Health Coverage [Member] - age	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2001
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, funding status	us-gaap:UnfundedPlanMember
Minimum age of retirement under option one to avail benefit of post retirement	55 years
Minimum service period served at the time of retirement under option one to avail benefit of post retirement	15 years
Minimum age of retirement under option two to avail benefit of post retirement	65
Minimum service period served at time of retirement under option two to avail benefit of post retirement	10 years
Minimum for age plus years of service of retirement under amended plan to avail benefit of post retirement		60
Minimum service period served at the time of retirement under amended plan to avail benefit of post retirement		10 years

Postretirement Benefits Other_4

Postretirement Benefits Other than Pensions - Change in Benefit Obligation (Details) - Postretirement Health Coverage [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 3,167	$ 3,214
Interest cost	96	108	$ 120
Actuarial (gain) loss	(96)	264
Benefits paid	(393)	(419)
Benefit obligation at end of year	$ 2,774	$ 3,167	$ 3,214

Postretirement Benefits Other_5

Postretirement Benefits Other than Pensions - Net Periodic Postretirement Benefit (Income) Expense (Details) - Postretirement Health Coverage [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 96	$ 108	$ 120
Amortization of net actuarial loss	257	245	242
Amortization of prior service credit	(1,314)	(1,314)	(1,314)
Total net periodic benefit cost (credit)	$ (961)	$ (961)	$ (952)

Postretirement Benefits Other_6

Postretirement Benefits Other than Pensions - Discount Rate to Determine the Benefit Obligation (Details)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)	3.83%	3.15%	3.47%

Postretirement Benefits Other_7

Postretirement Benefits Other than Pensions - Discount Rate to Determine the Net Postretirement Benefit Expense (Details) - Other Postretirement Benefit Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate (as a percent)	3.15%	3.47%	3.57%
Expected contribution to plan in 2019	$ 0.3

Postretirement Benefits Other_8

Postretirement Benefits Other than Pensions - Expected Future Contributions (Details) $ in Millions	Dec. 31, 2018USD ($)
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions [Abstract]
Expected contribution to defined benefit plan	$ 0.3

Postretirement Benefits Other_9

Postretirement Benefits Other than Pensions - Expected Future Benefit Payments (Details) - Postretirement Health Coverage [Member] $ in Thousands	Dec. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
2,019	$ 326
2,020	305
2,021	283
2,022	264
2,023	245
2024-2028	$ 995

Postretirement Benefits Othe_10

Postretirement Benefits Other than Pensions - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Unrecognized actuarial losses	$ 3.1
Unrecognized actuarial losses, net of tax	1.7
Unrecognized prior service credit	11.1
Unrecognized prior service credit, net of tax	6.1
Postretirement Health Coverage [Member]
Defined Benefit Plan Disclosure [Line Items]
Net gain (loss) recognized in other comprehensive income	0.1	$ (0.3)
Amortization of net loss	0.3	0.2	$ 0.2
Amortization of prior service credit recognized in other comprehensive income	$ 1.3	1.3	$ 1.3
Unrecognized actuarial losses		3.5
Unrecognized actuarial losses, net of tax		1.9
Unrecognized prior service credit		12.4
Unrecognized prior service credit, net of tax		$ 6.9

Equity - Stock Repurchase Autho

Equity - Stock Repurchase Authorization (Details) shares in Millions	12 Months Ended
	Dec. 31, 2016USD ($)shares
Equity
Authorized amount for share repurchase program	$ 100,000,000
Company repurchased, shares (in shares) | shares	0.5
Repurchase of Company stock for retirement	$ 24,811,000

Equity - Dividends (Details)

Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Equity
Dividends declared per common share (in dollars per share)	$ 3.40	$ 3.20	$ 3
Aggregated dividend paid	$ 174.5	$ 163.7	$ 153
Minimum percentage of adjusted funds from operations as cash dividend (as a percent)	50.00%
Percentage of REIT taxable income as cash dividend (as a percent)	100.00%

Equity - Changes in Accumulated

Equity - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 378,156
Income tax (expense) benefit	630	$ (1,052)
Other comprehensive income (loss), net of tax	(1,332)	(4,424)	$ 2,779
Ending balance	469,577	378,156
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(26,692)	(22,268)	(25,047)
Unrealized gains (losses) arising during period	(2,231)	(3,432)	2,599
Amounts reclassified from accumulated other comprehensive loss	269	60	180
Income tax (expense) benefit	630	(1,052)
Other comprehensive income (loss), net of tax	(1,332)	(4,424)	2,779
Ending balance	(28,024)	(26,692)	(22,268)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(20,149)	(22,268)	(25,047)
Unrealized gains (losses) arising during period	(2,231)	3,111	2,599
Amounts reclassified from accumulated other comprehensive loss	(64)	60	180
Income tax (expense) benefit	630	(1,052)
Other comprehensive income (loss), net of tax	(1,665)	2,119	2,779
Ending balance	(21,814)	(20,149)	$ (22,268)
Accumulated Other-than-Temporary Impairment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(6,543)
Unrealized gains (losses) arising during period		(6,543)
Amounts reclassified from accumulated other comprehensive loss	333
Other comprehensive income (loss), net of tax	333	(6,543)
Ending balance	$ (6,210)	$ (6,543)

Income Taxes - (Provision) Bene

Income Taxes - (Provision) Benefit for Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CURRENT:
Federal									$ (118)	$ (1,107)	$ (1,788)
State									(1,437)	(2,375)	(1,291)
Total current provision									(1,555)	(3,482)	(3,079)
DEFERRED:
Federal									(7,271)	32,308	321
State									(2,919)	18,299	(642)
Effect of federal tax law change					$ 2,000					2,030
Total deferred (provision) benefit									(10,190)	52,637	(321)
Total (provision) benefit for income taxes	$ (1,997)	$ (1,863)	$ (5,676)	$ (2,209)	$ 51,177	$ (530)	$ (899)	$ (593)	$ (11,745)	$ 49,155	$ (3,400)

Income Taxes - Tax Rate (Detail

Income Taxes - Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Corporate income tax rate (as a percent)		21.00%	35.00%	35.00%
Effect of federal tax law change	$ 2,000		$ 2,030

Income Taxes - Release of Valua

Income Taxes - Release of Valuation Allowance (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Income Taxes
Valuation allowance reversal	$ 53.4	$ 53.4

Income Taxes - Taxability of Ca

Income Taxes - Taxability of Cash Distributions Paid on Common Shares (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Ordinary income	$ 2.67	$ 2.97	$ 2.98
Capital gains	0.05	0.03	0.17
Return of capital		0.15
Total	$ 2.72	$ 3.15	$ 3.15

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Corporate income tax rate (as a percent)									21.00%	35.00%	35.00%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision									$ (58,047)	$ (44,431)	$ (56,914)
Adjustment for nontaxable income of the REIT									50,075	38,272	48,680
State taxes (net of federal tax benefit)									(4,268)	(1,317)	(1,705)
Permanent share-based compensation adjustment									821	1,446	1,571
Other permanent items									(46)	(251)	(200)
Valuation allowance reversal					$ 53,400				53,400
Effect of federal tax law change					2,000					2,030
Other									(238)	9	(123)
Total (provision) benefit for income taxes	$ (1,997)	$ (1,863)	$ (5,676)	$ (2,209)	$ 51,177	$ (530)	$ (899)	$ (593)	(11,745)	49,155	(3,400)
Domestic Tax Authority [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Valuation allowance reversal									46	36,156	5,519
State and Local Jurisdiction [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Valuation allowance reversal									$ (88)	$ 17,241	$ (228)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$ 14,594	$ 14,830
Defined benefit plan	4,620	4,148
Deferred management rights proceeds	44,189	44,651
Federal and State net operating loss carryforwards	59,382	44,789
Tax credits and other carryforwards	870	640
Investment in joint ventures		317
Other assets	4,427	4,353
Total deferred tax assets	128,082	113,728
Valuation allowance	(14,210)	(14,616)
Total deferred tax assets, net of valuation allowance	113,872	99,112
DEFERRED TAX LIABILITIES:
Property and equipment, net	57,931	47,416
Investment in joint ventures	14,135
Goodwill and other intangibles	478	705
Other liabilities	771	874
Total deferred tax liabilities	73,315	48,995
Net deferred tax assets	$ 40,557	$ 50,117

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss Carryforwards (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforward, deferred tax benefit	$ 35.6
State net operating loss carryforward, deferred tax benefit	23.8
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 169.5
Domestic Tax Authority [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2032
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 410.3
State and Local Jurisdiction [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2019
State and Local Jurisdiction [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expire date	Dec. 31, 2038

Income Taxes - Tax Credit Carry

Income Taxes - Tax Credit Carryforwards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Tax Credit Carryforward [Line Items]
Tax credits and other carryforwards, deferred tax benefit	$ 870	$ 640
Charitable Contributions [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward	3,600
Tax credits and other carryforwards, deferred tax benefit	$ 700
Charitable Contributions [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2019

Income Taxes - Change in Valuat

Income Taxes - Change in Valuation Allowance (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance			$ (74,000)
Valuation allowance reversal	$ 53,400	$ 53,400
Domestic Tax Authority [Member]
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance		0	(60,600)	$ 600
Valuation allowance reversal		46	36,156	5,519
State and Local Jurisdiction [Member]
Valuation Allowance [Line Items]
Increase (decrease) in deferred tax asset valuation allowance		(400)	(13,400)	(200)
Valuation allowance reversal		$ (88)	$ 17,241	$ (228)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Unrecognized tax benefits	$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Income tax penalties accrued related to uncertain tax positions	0	0
Interest on income taxes accrued related to uncertain tax positions	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Amounts of Assets Under Capitalized Lease Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract]
Accumulated depreciation	$ (3,006)	$ (2,717)
Net assets under capital leases	760	1,049
Property, Plant and Equipment [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract]
Assets under capital lease, gross	3,636	3,636
Prepaid Expenses and Other Assets [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract]
Assets under capital lease, gross	$ 130	$ 130

Commitments and Contingencies_2

Commitments and Contingencies - Rent Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
General and Administrative Expense [Abstract]
Rental expense related to continuing operations for operating leases	$ 14.3	$ 12.5	$ 12.4

Commitments and Contingencies_3

Commitments and Contingencies - Operating Lease Agreements (Details) - Land in Osceola County, Florida [Member] $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2018USD ($)a	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018USD ($)a
Operating Leased Assets [Line Items]
Operating lease term	75 years			75 years
Expiration date of lease under extension	Jan. 31, 2101
Area of leased property | a	65.3			65.3
Annual base payment for operating lease	$ 4.3
Annual base lease expense for operating lease	$ 9.4	$ 9.4	$ 9.4
Percentage of escalation of base rent (as a percent)	3.00%
Contingent rentals				$ 2.2
Non-cash lease expense	$ 5	$ 5.1	$ 5.2

Commitments and Contingencies_4

Commitments and Contingencies - Future Minimum Cash Lease Commitments - Capital Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Capital Leases, 2019	$ 46
Capital Leases, 2020	46
Capital Leases, 2021	46
Capital Leases, 2022	46
Capital Leases, 2023	46
Capital Leases, Years thereafter	658
Capital Leases, Total minimum lease payments	888
Capital Leases, Less amount representing interest	(270)
Capital Leases, Total present value of minimum payments	$ 618

Commitments and Contingencies_5

Commitments and Contingencies - Future Minimum Cash Lease Commitments - Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Operating Leases, 2019	$ 5,566
Operating Leases, 2020	5,505
Operating Leases, 2021	5,482
Operating Leases, 2022	5,316
Operating Leases, 2023	5,465
Operating Leases, Years thereafter	577,727
Operating Leases, Total minimum lease payments	$ 605,061

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 24,687	$ 25,055
Total assets measured at fair value	24,687	25,055
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	24,687	25,055
Total assets measured at fair value	$ 24,687	$ 25,055

Financial Reporting By Busine_3

Financial Reporting By Business Segments - General Information (Details) - segment	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of business segments	3	3	3

Financial Reporting By Busine_4

Financial Reporting By Business Segments - Internal Financial Reports (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Depreciation and amortization	31,221	30,994	29,995	28,666	28,097	28,546	27,679	27,637	120,876	111,959	109,816
Preopening costs									(4,869)	(1,926)
Impairment charges										(35,418)
Operating income	51,526	40,100	76,699	45,944	36,788	37,510	64,644	46,975	214,269	185,917	215,442
Interest expense									(74,961)	(66,051)	(63,906)
Interest income									10,469	11,818	11,500
Income (loss) from joint ventures									125,005	(4,402)	(2,794)
Other gains and (losses), net									1,633	(337)	2,524
Income before income taxes	$ 161,191	$ 24,454	$ 61,222	$ 29,548	$ 21,141	$ 24,400	$ 48,191	$ 33,213	276,415	126,945	162,766
Hospitality [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues									1,127,903	1,059,660	1,039,643
Depreciation and amortization									108,779	102,759	100,186
Preopening costs									(2,900)	(300)
Operating income									247,885	223,302	217,018
Income (loss) from joint ventures									124,400	(1,900)	(1,200)
Entertainment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues									147,215	125,059	109,564
Depreciation and amortization									10,280	7,074	7,034
Preopening costs									(1,900)	(1,600)
Operating income									27,686	33,472	27,903
Income (loss) from joint ventures									600	(2,500)	(1,600)
Corporate and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Depreciation and amortization									1,817	2,126	2,596
Operating income									$ (32,650)	$ (33,513)	$ (29,479)

Financial Reporting By Busine_5

Financial Reporting By Business Segments - Identifiable Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Preopening costs	$ 4,869	$ 1,926
Identifiable assets	3,853,883	2,524,228
Hospitality [Member]
Segment Reporting Information [Line Items]
Preopening costs	2,900	300
Identifiable assets	3,547,638	2,256,395
Entertainment [Member]
Segment Reporting Information [Line Items]
Preopening costs	1,900	1,600
Identifiable assets	155,412	132,671
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Identifiable assets	$ 150,833	$ 135,162

Financial Reporting By Busine_6

Financial Reporting By Business Segments - Capital Expenditures for Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	$ 188,217	$ 182,565	$ 117,977
Hospitality [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	142,738	163,227	96,372
Entertainment [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	44,863	18,814	20,940
Corporate and Other [Member]
Payments to Acquire Property, Plant, and Equipment [Abstract]
Capital expenditures	$ 616	$ 524	$ 665

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Selected Quarterly Financial Information [Abstract]
Revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Depreciation and amortization	31,221	30,994	29,995	28,666	28,097	28,546	27,679	27,637	120,876	111,959	109,816
Operating income	51,526	40,100	76,699	45,944	36,788	37,510	64,644	46,975	214,269	185,917	215,442
Income before income taxes	161,191	24,454	61,222	29,548	21,141	24,400	48,191	33,213	276,415	126,945	162,766
(Provision) benefit for income taxes	(1,997)	(1,863)	(5,676)	(2,209)	51,177	(530)	(899)	(593)	(11,745)	49,155	(3,400)
Net income	$ 159,194	$ 22,591	$ 55,546	$ 27,339	$ 72,318	$ 23,870	$ 47,292	$ 32,620	$ 264,670	$ 176,100	$ 159,366
Net income, per share (in dollars per share)	$ 3.10	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.47	$ 0.92	$ 0.64	$ 5.16	$ 3.44	$ 3.12
Net income, per share - assuming dilution (in dollars per share)	$ 3.09	$ 0.44	$ 1.08	$ 0.53	$ 1.41	$ 0.46	$ 0.92	$ 0.63	$ 5.14	$ 3.43	$ 3.11

Quarterly Financial Informati_4

Quarterly Financial Information (Unaudited) - Gain on Revaluation of Investment Interest (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Nonoperating Gains (Losses) [Abstract]
Other gains and (losses), net		$ 1,633	$ (337)	$ 2,524
Gaylord Rockies [Member]
Nonoperating Gains (Losses) [Abstract]
Other gains and (losses), net	$ 131,400

Quarterly Financial Informati_5

Quarterly Financial Information (Unaudited) - Impairment of Carrying Value of Acquired Assets (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Asset Impairment Charges [Abstract]
Impairment charges		$ 23,783
Opry City Stage [Member]
Asset Impairment Charges [Abstract]
Impairment charges	$ 18,000

Quarterly Financial Informati_6

Quarterly Financial Information (Unaudited) - Other-than-temporary Impairment Loss on Held-to-maturity Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017
Other-than-temporary Impairment Loss, Debt Securities, Held-to-maturity, before Tax [Abstract]
Net impairment loss recognized in earnings on held-to-maturity securities		$ 35,418
Bonds B Series [Member]
Other-than-temporary Impairment Loss, Debt Securities, Held-to-maturity, before Tax [Abstract]
Net impairment loss recognized in earnings on held-to-maturity securities	$ 35,400

Quarterly Financial Informati_7

Quarterly Financial Information (Unaudited) - Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount [Abstract]
Valuation allowance reversal	$ 53.4	$ 53.4

Information Concerning Guaran_3

Information Concerning Guarantor and Non-Guarantor Subsidiaries - General Information (Details)	12 Months Ended
	Dec. 31, 2018USD ($)entity	Apr. 15, 2015USD ($)	Apr. 03, 2013USD ($)
Condensed Financial Statements, Captions [Line Items]
Number of wholly-owned subsidiaries | entity	4
Ownership percentage in subsidiaries (as a percent)	100.00%
Senior Notes [Member] | $350 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 350,000,000		$ 350,000,000
Stated interest rate (as a percent)	5.00%		5.00%
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)	5.00%	5.00%

Information Concerning Guaran_4

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS:
Property and equipment, net of accumulated depreciation	$ 3,149,095	$ 2,065,657
Cash and cash equivalents - unrestricted	103,437	57,557	$ 59,128
Cash and cash equivalents - restricted	45,652	21,153	$ 22,062
Notes receivable	122,209	111,423
Investment in Gaylord Rockies joint venture		88,685
Trade receivables, less allowance	67,923	57,520
Deferred income tax assets, net	40,557	50,117
Prepaid expenses and other assets	78,240	67,831
Intangible assets	246,770	4,285
Total assets	3,853,883	2,524,228
LIABILITIES AND EQUITY:
Debt and capital lease obligations	2,441,895	1,591,392
Accounts payable and accrued liabilities	274,890	179,649
Dividends payable	45,019	42,129
Deferred management rights proceeds	174,026	177,057
Other liabilities	161,043	155,845
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	287,433
Stockholders' equity:
Preferred stock
Common stock	513	512
Additional paid-in-capital	900,795	896,759
Treasury stock	(15,183)	(13,253)
Accumulated deficit	(388,524)	(479,170)
Accumulated other comprehensive loss	(28,024)	(26,692)
Total stockholders' equity	469,577	378,156
Total liabilities and stockholders' equity	3,853,883	2,524,228
Reportable Legal Entities [Member] | Parent Company [Member]
ASSETS:
Cash and cash equivalents - unrestricted	81	38
Investments	1,101,740	1,006,461
Total assets	1,101,821	1,006,499
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	50	150
Dividends payable	45,019	42,129
Intercompany payables, net	587,175	586,064
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	513	512
Additional paid-in-capital	900,795	896,759
Treasury stock	(15,183)	(13,253)
Accumulated deficit	(388,524)	(479,170)
Accumulated other comprehensive loss	(28,024)	(26,692)
Total stockholders' equity	469,577	378,156
Total liabilities and stockholders' equity	1,101,821	1,006,499
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
ASSETS:
Cash and cash equivalents - unrestricted	657	759
Prepaid expenses and other assets	34
Investments	2,950,457	2,890,032
Total assets	2,951,148	2,890,791
LIABILITIES AND EQUITY:
Debt and capital lease obligations	1,946,699	1,590,753
Accounts payable and accrued liabilities	13,752	11,180
Intercompany payables, net	846,478	895,408
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	499,122	671,875
Accumulated deficit	(354,904)	(278,426)
Total stockholders' equity	144,219	393,450
Total liabilities and stockholders' equity	2,951,148	2,890,791
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,646,946	1,640,274
Cash and cash equivalents - unrestricted	54	36
Deferred income tax assets, net	(444)	(301)
Prepaid expenses and other assets		5
Intercompany receivables, net	1,895,086	1,717,157
Investments	710,516	651,006
Total assets	4,252,158	4,008,177
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	7,253	15,795
Other liabilities	100,068	95,078
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	2,895,842	2,835,468
Accumulated deficit	1,248,994	1,061,835
Total stockholders' equity	4,144,837	3,897,304
Total liabilities and stockholders' equity	4,252,158	4,008,177
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,502,149	425,383
Cash and cash equivalents - unrestricted	102,645	56,724
Cash and cash equivalents - restricted	45,652	21,153
Notes receivable	122,209	111,423
Investment in Gaylord Rockies joint venture		88,685
Trade receivables, less allowance	67,923	57,520
Deferred income tax assets, net	41,001	50,418
Prepaid expenses and other assets	79,460	67,826
Intangible assets	246,770	4,285
Investments	1,898,756	1,364,814
Total assets	4,106,565	2,248,231
LIABILITIES AND EQUITY:
Debt and capital lease obligations	495,196	639
Accounts payable and accrued liabilities	255,089	152,524
Deferred management rights proceeds	174,026	177,057
Other liabilities	60,975	60,767
Intercompany payables, net	461,433	235,685
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	287,433
Stockholders' equity:
Preferred stock
Common stock	2,387	2,387
Additional paid-in-capital	2,668,134	2,073,818
Accumulated deficit	(270,084)	(427,954)
Accumulated other comprehensive loss	(28,024)	(26,692)
Total stockholders' equity	2,372,413	1,621,559
Total liabilities and stockholders' equity	4,106,565	2,248,231
Consolidation, Eliminations [Member]
ASSETS:
Prepaid expenses and other assets	(1,254)
Intercompany receivables, net	(1,895,086)	(1,717,157)
Investments	(6,661,469)	(5,912,313)
Total assets	(8,557,809)	(7,629,470)
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	(1,254)
Intercompany payables, net	(1,895,086)	(1,717,157)
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	(2,389)	(2,389)
Additional paid-in-capital	(6,063,098)	(5,581,161)
Accumulated deficit	(624,006)	(355,455)
Accumulated other comprehensive loss	28,024	26,692
Total stockholders' equity	(6,661,469)	(5,912,313)
Total liabilities and stockholders' equity	$ (8,557,809)	$ (7,629,470)

Information Concerning Guaran_5

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total revenues	$ 360,565	$ 292,249	$ 333,934	$ 288,370	$ 345,175	$ 264,724	$ 298,778	$ 276,042	$ 1,275,118	$ 1,184,719	$ 1,149,207
Operating expenses:
Total hotel operating expenses									771,239	733,599	722,439
Entertainment									109,249	84,513	74,627
Corporate									30,833	31,387	26,883
Preopening costs									4,869	1,926
Impairment charges										(35,418)
Depreciation and amortization	31,221	30,994	29,995	28,666	28,097	28,546	27,679	27,637	120,876	111,959	109,816
Impairment charges									23,783
Total operating expenses									1,060,849	998,802	933,765
Operating income (loss)	51,526	40,100	76,699	45,944	36,788	37,510	64,644	46,975	214,269	185,917	215,442
Interest expense									(74,961)	(66,051)	(63,906)
Interest income									10,469	11,818	11,500
Income (loss) from joint ventures									125,005	(4,402)	(2,794)
Other gains and (losses), net									1,633	(337)	2,524
Income (loss) before income taxes	161,191	24,454	61,222	29,548	21,141	24,400	48,191	33,213	276,415	126,945	162,766
(Provision) benefit for income taxes	(1,997)	(1,863)	(5,676)	(2,209)	51,177	(530)	(899)	(593)	(11,745)	49,155	(3,400)
Net income	$ 159,194	$ 22,591	$ 55,546	$ 27,339	$ 72,318	$ 23,870	$ 47,292	$ 32,620	264,670	176,100	159,366
Comprehensive income (loss)									263,338	171,676	162,145
Rooms [Member]
Revenues:
Total revenues									454,370	431,768	420,011
Operating expenses:
Total hotel operating expenses									118,060	112,636	109,618
Food and Beverage [Member]
Revenues:
Total revenues									519,843	483,945	477,493
Operating expenses:
Total hotel operating expenses									282,906	269,824	267,307
Hotel, Other [Member]
Revenues:
Total revenues									153,690	143,947	142,139
Operating expenses:
Total hotel operating expenses									339,529	327,283	323,320
Management Fees [Member]
Operating expenses:
Total hotel operating expenses									30,744	23,856	22,194
Entertainment [Member]
Revenues:
Total revenues									147,215	125,059	109,564
Reportable Legal Entities [Member] | Parent Company [Member]
Revenues:
Total revenues											209
Operating expenses:
Corporate									481	253	355
Corporate overhead allocation									3,400	8,615	8,735
Depreciation and amortization											156
Total operating expenses									3,881	8,868	9,246
Operating income (loss)									(3,881)	(8,868)	(9,037)
Interest income											28
Income (loss) before income taxes									(3,881)	(8,868)	(9,009)
(Provision) benefit for income taxes											(752)
Equity in subsidiaries' earnings, net									268,551	184,968	169,127
Net income									264,670	176,100	159,366
Comprehensive income (loss)									263,338	171,676	162,145
Reportable Legal Entities [Member] | Parent Company [Member] | Entertainment [Member]
Revenues:
Total revenues											209
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Operating expenses:
Corporate									1,542	1,596	1,615
Total operating expenses									1,542	1,596	1,615
Operating income (loss)									(1,542)	(1,596)	(1,615)
Interest expense									(74,936)	(66,025)	(63,880)
Income (loss) before income taxes									(76,478)	(67,621)	(65,495)
Net income									(76,478)	(67,621)	(65,495)
Comprehensive income (loss)									(76,478)	(67,621)	(65,495)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Total revenues									305,802	316,402	307,840
Operating expenses:
Total hotel operating expenses									45,576	44,386	43,197
Corporate									2	2	2
Corporate overhead allocation									11,405	7,033	6,833
Depreciation and amortization									61,380	59,534	59,076
Total operating expenses									118,363	110,955	109,108
Operating income (loss)									187,439	205,447	198,732
Other gains and (losses), net											1,868
Income (loss) before income taxes									187,439	205,447	200,600
(Provision) benefit for income taxes									(280)	(37)	(273)
Net income									187,159	205,410	200,327
Comprehensive income (loss)									187,159	205,410	200,327
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Hotel, Other [Member]
Revenues:
Total revenues									305,802	316,402	307,840
Operating expenses:
Total hotel operating expenses									45,576	44,386	43,197
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Revenues:
Total revenues									1,290,347	1,200,719	1,165,111
Operating expenses:
Total hotel operating expenses									1,031,917	1,006,076	987,573
Entertainment									109,120	84,404	74,681
Corporate									28,909	29,536	24,911
Preopening costs									4,869	1,926
Impairment charges										(35,418)
Depreciation and amortization									59,496	52,425	50,584
Impairment charges									23,783
Total operating expenses									1,258,094	1,209,785	1,137,749
Operating income (loss)									32,253	(9,066)	27,362
Interest expense									(25)	(26)	(26)
Interest income									10,469	11,818	11,472
Income (loss) from joint ventures									125,005	(4,402)	(2,794)
Other gains and (losses), net									1,633	(337)	656
Income (loss) before income taxes									169,335	(2,013)	36,670
(Provision) benefit for income taxes									(11,465)	49,192	(2,375)
Net income									157,870	47,179	34,295
Comprehensive income (loss)									156,538	42,755	37,074
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Rooms [Member]
Revenues:
Total revenues									454,393	431,768	420,011
Operating expenses:
Total hotel operating expenses									118,060	112,636	109,618
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Food and Beverage [Member]
Revenues:
Total revenues									519,890	483,945	477,493
Operating expenses:
Total hotel operating expenses									282,906	269,824	267,307
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Hotel, Other [Member]
Revenues:
Total revenues									168,071	159,162	157,274
Operating expenses:
Total hotel operating expenses									600,207	599,760	588,454
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Management Fees [Member]
Operating expenses:
Total hotel operating expenses									30,744	23,856	22,194
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Entertainment [Member]
Revenues:
Total revenues									147,993	125,844	110,333
Consolidation, Eliminations [Member]
Revenues:
Total revenues									(321,031)	(332,402)	(323,953)
Operating expenses:
Total hotel operating expenses									(306,254)	(316,863)	(308,331)
Entertainment									129	109	(54)
Corporate									(101)
Corporate overhead allocation									(14,805)	(15,648)	(15,568)
Total operating expenses									(321,031)	(332,402)	(323,953)
Equity in subsidiaries' earnings, net									(268,551)	(184,968)	(169,127)
Net income									(268,551)	(184,968)	(169,127)
Comprehensive income (loss)									(267,219)	(180,544)	(171,906)
Consolidation, Eliminations [Member] | Rooms [Member]
Revenues:
Total revenues									(23)
Consolidation, Eliminations [Member] | Food and Beverage [Member]
Revenues:
Total revenues									(47)
Consolidation, Eliminations [Member] | Hotel, Other [Member]
Revenues:
Total revenues									(320,183)	(331,617)	(322,975)
Operating expenses:
Total hotel operating expenses									(306,254)	(316,863)	(308,331)
Consolidation, Eliminations [Member] | Entertainment [Member]
Revenues:
Total revenues									$ (778)	$ (785)	$ (978)

Information Concerning Guaran_6

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	$ 321,919	$ 295,830	$ 293,601
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(188,217)	(182,565)	(117,977)
Proceeds from sale of Peterson LOI			6,785
Other investing activities	(5,367)	(7,234)	4,299
Net cash used in investing activities	(423,310)	(215,421)	(179,534)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings (repayments) under revolving credit facility	354,000	(211,400)	76,000
Repayments under term loan B	(5,000)	(393,750)	(4,000)
Repayment of note payable related to purchase of AC Hotel			(6,000)
Repurchase of Company stock for retirement			(24,811)
Deferred financing costs paid	(642)	(12,268)
Payment of dividends	(172,415)	(161,706)	(151,160)
Payment of tax withholdings for share-based compensation	(4,164)	(3,810)	(3,235)
Other financing activities	(9)	45	1,683
Net cash flows used in financing activities	171,770	(82,889)	(111,523)
Net change in cash, cash equivalents, and restricted cash	70,379	(2,480)	2,544
Cash, cash equivalents, and restricted cash, beginning of period	78,710	81,190	78,646
Cash, cash equivalents, and restricted cash, end of period	149,089	78,710	81,190
$200 Million Term Loan A [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		200,000
$500 Million Term Loan B [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		500,000
Gaylord Rockies [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Investment in joint venture		(16,309)	(70,141)
Purchase of additional/remaining interest, net of cash acquired	(223,564)
Other Joint Ventures [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Investment in joint venture	(2,199)	(9,313)	(2,500)
Opry City Stage [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest, net of cash acquired	(3,963)
Reportable Legal Entities [Member] | Parent Company [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	176,611	165,461	171,231
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment			(507)
Proceeds from sale of Peterson LOI			6,785
Net cash used in investing activities			6,278
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repurchase of Company stock for retirement			(24,811)
Payment of dividends	(172,415)	(161,706)	(151,160)
Payment of tax withholdings for share-based compensation	(4,164)	(3,810)	(3,235)
Other financing activities	11	65	1,702
Net cash flows used in financing activities	(176,568)	(165,451)	(177,504)
Net change in cash, cash equivalents, and restricted cash	43	10	5
Cash, cash equivalents, and restricted cash, beginning of period	38	28	23
Cash, cash equivalents, and restricted cash, end of period	81	38	28
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	(348,460)	(83,057)	(66,344)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings (repayments) under revolving credit facility	354,000	(211,400)	76,000
Repayments under term loan B	(5,000)	(393,750)	(4,000)
Repayment of note payable related to purchase of AC Hotel			(6,000)
Deferred financing costs paid	(642)	(12,268)
Net cash flows used in financing activities	348,358	82,582	66,000
Net change in cash, cash equivalents, and restricted cash	(102)	(475)	(344)
Cash, cash equivalents, and restricted cash, beginning of period	759	1,234	1,578
Cash, cash equivalents, and restricted cash, end of period	657	759	1,234
Reportable Legal Entities [Member] | Subsidiary Issuer [Member] | $200 Million Term Loan A [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		200,000
Reportable Legal Entities [Member] | Subsidiary Issuer [Member] | $500 Million Term Loan B [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		500,000
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	74,430	96,529	31,365
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(74,412)	(96,516)	(36,122)
Other investing activities			4,622
Net cash used in investing activities	(74,412)	(96,516)	(31,500)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net change in cash, cash equivalents, and restricted cash	18	13	(135)
Cash, cash equivalents, and restricted cash, beginning of period	36	23	158
Cash, cash equivalents, and restricted cash, end of period	54	36	23
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	419,338	116,897	157,349
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(113,805)	(86,049)	(81,348)
Other investing activities	(5,367)	(7,234)	(323)
Net cash used in investing activities	(348,898)	(118,905)	(154,312)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Other financing activities	(20)	(20)	(19)
Net cash flows used in financing activities	(20)	(20)	(19)
Net change in cash, cash equivalents, and restricted cash	70,420	(2,028)	3,018
Cash, cash equivalents, and restricted cash, beginning of period	77,877	79,905	76,887
Cash, cash equivalents, and restricted cash, end of period	148,297	77,877	79,905
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Gaylord Rockies [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Investment in joint venture		(16,309)	(70,141)
Purchase of additional/remaining interest, net of cash acquired	(223,564)
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Other Joint Ventures [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Investment in joint venture	(2,199)	$ (9,313)	$ (2,500)
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Opry City Stage [Member]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of additional/remaining interest, net of cash acquired	$ (3,963)

SCHEDULE III Real Estate and _2

SCHEDULE III Real Estate and Accumulated Depreciation - Property Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 186,350
Initial cost, buildings & improvements	2,418,202
Costs capitalized subsequent to acquisition	958,751
Gross amount, land	301,183
Gross amount, buildings & improvements	3,262,121
Gross amount, total	3,563,304	$ 2,570,390	$ 2,529,641	$ 2,510,579
Accumulated depreciation	$ 949,630	$ 883,445	$ 818,323	$ 754,861
Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Opryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 9,817
Initial cost, buildings & improvements	77,125
Costs capitalized subsequent to acquisition	656,373
Gross amount, land	65,230
Gross amount, buildings & improvements	678,085
Gross amount, total	743,315
Accumulated depreciation	$ 352,407
Date of Construction	Jan. 1, 1983
Gaylord Opryland [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Opryland [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Palms [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 21,564
Initial cost, buildings & improvements	314,661
Costs capitalized subsequent to acquisition	53,101
Gross amount, land	35,049
Gross amount, buildings & improvements	354,278
Gross amount, total	389,327
Accumulated depreciation	$ 163,852
Date of Construction	Jan. 1, 2002
Gaylord Palms [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Palms [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Texan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 21,235
Initial cost, buildings & improvements	388,030
Costs capitalized subsequent to acquisition	174,227
Gross amount, land	47,903
Gross amount, buildings & improvements	535,588
Gross amount, total	583,491
Accumulated depreciation	$ 171,749
Date of Construction	Jan. 1, 2004
Gaylord Texan [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord Texan [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord National [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 43,212
Initial cost, buildings & improvements	840,261
Costs capitalized subsequent to acquisition	38,777
Gross amount, land	47,428
Gross amount, buildings & improvements	874,822
Gross amount, total	922,250
Accumulated depreciation	$ 230,723
Date of Construction	Jan. 1, 2008
Gaylord National [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Gaylord National [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Gaylord Rockies [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 57,478
Initial cost, buildings & improvements	757,287
Gross amount, land	57,478
Gross amount, buildings & improvements	757,287
Gross amount, total	$ 814,765
Date of Acquisition	Dec. 31, 2018
Inn at Opryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 2,675
Initial cost, buildings & improvements	7,248
Costs capitalized subsequent to acquisition	16,098
Gross amount, land	2,980
Gross amount, buildings & improvements	23,042
Gross amount, total	26,022
Accumulated depreciation	$ 9,147
Date of Construction	Jan. 1, 1998
Inn at Opryland [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Inn at Opryland [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
AC Hotel [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 9,079
Initial cost, buildings & improvements	17,340
Costs capitalized subsequent to acquisition	3,656
Gross amount, land	9,099
Gross amount, buildings & improvements	20,975
Gross amount, total	30,074
Accumulated depreciation	$ 2,138
Date of Acquisition	Jan. 1, 2014
AC Hotel [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
AC Hotel [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years
Miscellaneous [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial cost, land	$ 21,290
Initial cost, buildings & improvements	16,250
Costs capitalized subsequent to acquisition	16,519
Gross amount, land	36,016
Gross amount, buildings & improvements	18,044
Gross amount, total	54,060
Accumulated depreciation	$ 19,614
Miscellaneous [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	20 years
Miscellaneous [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation life	40 years

SCHEDULE III Real Estate and _3

SCHEDULE III Real Estate and Accumulated Depreciation - Investment in Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	$ 2,570,390	$ 2,529,641	$ 2,510,579
Acquisitions	814,765	0	0
Improvements	179,787	40,749	21,899
Disposals	(1,638)		(2,837)
Balance at end of year	$ 3,563,304	$ 2,570,390	$ 2,529,641

SCHEDULE III Real Estate and _4

SCHEDULE III Real Estate and Accumulated Depreciation - Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	$ 883,445	$ 818,323	$ 754,861
Depreciation	67,652	65,122	63,718
Disposals	(1,467)		(256)
Balance at end of year	$ 949,630	$ 883,445	$ 818,323

SCHEDULE III Real Estate and _5

SCHEDULE III Real Estate and Accumulated Depreciation - Additional Information (Details) $ in Millions	Dec. 31, 2018USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Amount outstanding under credit facility	$ 527.3
Aggregate cost of properties for federal income tax	$ 3,200
Gaylord Rockies [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Equity interest (as a percent)	61.20%