Ryman Hospitality Properties (RHP) 10-Q 7 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-13079
Entity Registrant Name	RYMAN HOSPITALITY PROPERTIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-0664379
Entity Address, Address Line One	One Gaylord Drive
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37214
City Area Code	615
Local Phone Number	316-6000
Title of 12(b) Security	Common stock
Trading Symbol	RHP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,970,480
Entity Central Index Key	0001040829
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
ASSETS:
Property and equipment, net of accumulated depreciation (including $969,130 and $979,012 from VIEs, respectively)	$ 3,129,977	$ 3,130,252
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	662,156	362,430	$ 94,873
Cash and cash equivalents - restricted	64,501	57,966	$ 51,943
Notes receivable	99,900	110,135
Trade receivables, less credit loss reserve of $1,155 and $828, respectively (including $20,688 and $16,523 from VIEs, respectively)	78,952	70,768
Deferred income tax assets, net		25,959
Prepaid expenses and other assets (including $32,247 and $27,888 from VIEs, respectively)	112,236	123,845
Intangible assets (including $192,366 and $202,366 from VIEs, respectively)	197,080	207,113
Total assets	4,344,802	4,088,468
LIABILITIES AND EQUITY:
Debt and finance lease obligations (including $793,174 and $792,696 from VIEs, respectively)	2,951,888	2,559,968
Accounts payable and accrued liabilities (including $44,818 and $57,590 from VIEs, respectively)	240,313	264,915
Dividends payable	53,037	50,711
Deferred management rights proceeds	174,558	175,332
Operating lease liabilities	106,925	106,331
Deferred income tax liabilities, net	600
Other liabilities (including $24,887 and $2,174 from VIEs, respectively)	94,434	64,971
Total liabilities	3,621,755	3,222,228
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	163,026	221,511
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, 54,970 and 54,897 shares issued and outstanding, respectively	550	549
Additional paid-in capital	1,185,885	1,185,168
Treasury stock of 626 and 619 shares, at cost	(17,872)	(17,315)
Accumulated deficit	(545,104)	(495,514)
Accumulated other comprehensive loss	(63,438)	(28,159)
Total stockholders' equity	560,021	644,729
Total liabilities and equity	$ 4,344,802	$ 4,088,468

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 3,129,977	$ 3,130,252
Cash and cash equivalents - unrestricted	662,156	362,430
Cash and cash equivalents - restricted	64,501	57,966
Notes receivable	99,900	110,135
Trade receivables, less allowance	78,952	70,768
Prepaid expenses and other assets	112,236	123,845
Intangible assets	197,080	207,113
Debt and finance lease obligations	2,951,888	2,559,968
Accounts payable and accrued liabilities	240,313	264,915
Other liabilities	94,434	64,971
Accounts Receivable, Net [Abstract]
Credit loss reserve	$ 1,155	$ 828
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)	54,970,000	54,897,000
Common stock, shares outstanding (in shares)	54,970,000	54,897,000
Treasury Stock, Shares [Abstract]
Treasury stock, shares (in shares)	626,000	619,000
Variable Interest Entity [Member]
Assets [Abstract]
Property and equipment, net of accumulated depreciation	$ 969,130	$ 979,012
Cash and cash equivalents - unrestricted	22,072	33,772
Trade receivables, less allowance	20,688	16,523
Prepaid expenses and other assets	32,247	27,888
Intangible assets	192,366	202,366
Debt and finance lease obligations	793,174	792,696
Accounts payable and accrued liabilities	44,818	57,590
Other liabilities	$ 24,887	$ 2,174

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenues	$ 313,030	$ 370,775
Operating expenses:
Total hotel operating expenses	212,085	227,023
Corporate	8,136	9,004
Preopening costs	801	2,134
Gain on sale of assets	(1,261)
Credit loss on held-to-maturity securities	5,828
Depreciation and amortization	53,345	53,009
Total operating expenses	308,280	316,811
Operating income	4,750	53,964
Interest expense	(29,358)	(32,087)
Interest income	2,371	2,908
Loss from unconsolidated joint ventures	(1,895)
Other gains and (losses), net	195	(141)
Income (loss) before income taxes	(23,937)	24,644
Provision for income taxes	(26,799)	(1,974)
Net income (loss)	(50,736)	22,670
Net loss attributable to noncontrolling interest in consolidated joint venture	4,220	6,738
Net income (loss) available to common stockholders	$ (46,516)	$ 29,408
Basic income (loss) per share available to common stockholders	$ (0.85)	$ 0.57
Diluted income (loss) per share available to common stockholders	$ (0.85)	$ 0.57
Comprehensive income (loss), net of taxes	$ (88,173)	$ 22,779
Comprehensive loss, net of taxes, attributable to noncontrolling interest	12,829	6,738
Comprehensive income (loss), net of taxes, available to common stockholders	(75,344)	29,517
Notes Receivable [Member]
Operating expenses:
Interest income	1,500	2,600
Bonds B Series [Member]
Operating expenses:
Credit loss on held-to-maturity securities	5,828
Rooms [Member]
Revenues:
Total revenues	106,128	132,212
Operating expenses:
Total hotel operating expenses	32,308	34,969
Food and Beverage [Member]
Revenues:
Total revenues	145,750	171,143
Operating expenses:
Total hotel operating expenses	83,811	91,359
Hotel, Other [Member]
Revenues:
Total revenues	33,793	34,155
Operating expenses:
Total hotel operating expenses	90,474	90,939
Management Fees [Member]
Operating expenses:
Total hotel operating expenses	5,492	9,756
Entertainment [Member]
Revenues:
Total revenues	27,359	33,265
Operating expenses:
Total hotel operating expenses	$ 29,346	$ 25,641

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net income	$ (50,736)	$ 22,670
Amounts to reconcile net income to net cash flows provided by operating activities:
Provision for deferred income taxes	26,559	1,100
Depreciation and amortization	53,345	53,009
Amortization of deferred financing costs	1,894	1,927
Credit loss on held-to-maturity securities	5,828
(Income) loss from unconsolidated joint ventures	1,895
Stock-based compensation expense	2,230	2,026
Changes in:
Trade receivables	(8,345)	(42,050)
Accounts payable and accrued liabilities	(26,297)	17,632
Other assets and liabilities	(1,702)	(1,754)
Net cash flows provided by operating activities	4,671	54,560
Cash Flows from Investing Activities:
Purchases of property and equipment	(43,168)	(48,873)
Investment in other joint ventures	(3,090)	(102)
Other investing activities	1,004	(127)
Net cash flows used in investing activities	(45,254)	(49,102)
Cash Flows from Financing Activities:
Net borrowings under revolving credit facility	400,000	10,000
Deferred financing costs paid	(106)
Payment of dividends	(50,078)	(44,420)
Payment of tax withholdings for share-based compensation	(1,631)	(3,813)
Other financing activities	(91)	1,605
Net cash flows provided by (used in) financing activities	346,844	(7,731)
Net change in cash, cash equivalents, and restricted cash	306,261	(2,273)
Cash, cash equivalents, and restricted cash, beginning of period	420,396	149,089
Cash, cash equivalents, and restricted cash, end of period	726,657	146,816
Term Loan B
Cash Flows from Financing Activities:
Repayments under term loan B	$ (1,250)
Gaylord Rockies [Member]
Cash Flows from Financing Activities:
Borrowing under Gaylord Rockies term loan		$ 28,897

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Reconciliation of cash, cash equivalents, and restricted cash to balance sheet:
Cash and cash equivalents - unrestricted	$ 662,156	$ 362,430	$ 94,873
Cash and cash equivalents - restricted	64,501	57,966	51,943
Cash, cash equivalents, and restricted cash, end of period	$ 726,657	$ 420,396	$ 146,816	$ 149,089

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity And Noncontrolling Interest - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance at Dec. 31, 2018	$ 513	$ 900,795	$ (15,183)	$ (388,524)	$ (28,024)	$ 287,433	$ 469,577
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)				29,408		(6,738)	29,408
Adjustment of noncontrolling interest to redemption value				(10,420)		10,420	(10,420)
Other comprehensive income (loss), net of income taxes					109		109
Payment of dividends		168	(504)	(46,076)			(46,412)
Restricted stock units and stock options surrendered	1	(3,825)					(3,824)
Stock-based compensation expense		2,026					2,026
Ending balance at Mar. 31, 2019	514	899,164	(15,687)	(412,905)	(30,622)	291,115	440,464
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Translation adjustment related to adoption of ASU | ASU 2018-02 [Member]				2,707	(2,707)
Beginning balance at Dec. 31, 2019	549	1,185,168	(17,315)	(495,514)	(28,159)	221,511	644,729
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)				(46,516)		(4,220)	(46,516)
Adjustment of noncontrolling interest to redemption value				54,265		(54,265)	54,265
Other comprehensive income (loss), net of income taxes					(37,437)		(37,437)
Payment of dividends		147	(557)	(51,996)			(52,406)
Restricted stock units and stock options surrendered	1	(1,660)					(1,659)
Stock-based compensation expense		2,230					2,230
Ending balance at Mar. 31, 2020	$ 550	$ 1,185,885	$ (17,872)	(545,104)	(63,438)	$ 163,026	560,021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Translation adjustment related to adoption of ASU | ASU 2016-13 [Member]				$ (5,343)	$ 2,158		$ (3,185)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity And Noncontrolling Interest (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity And Noncontrolling Interest [Abstract]
Dividend amount for current period (in dollars per share)	$ 0.95	$ 0.90

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Basis of Presentation
Basis of Presentation	1. BASIS OF PRESENTATION: ​ On January 1, 2013, Ryman Hospitality Properties, Inc. (“Ryman”) and its subsidiaries (collectively with Ryman, the “Company”) began operating as a real estate investment trust (“REIT”) for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of upscale, meetings-focused resorts that are managed by Marriott International, Inc. (“Marriott”) under the Gaylord Hotels brand. These resorts, which the Company refers to as the Gaylord Hotels properties, consist of the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee (“Gaylord Opryland”), the Gaylord Palms Resort & Convention Center near Orlando, Florida (“Gaylord Palms”), the Gaylord Texan Resort & Convention Center near Dallas, Texas (“Gaylord Texan”) and the Gaylord National Resort & Convention Center near Washington D.C. (“Gaylord National”). The Company’s other owned hotel assets managed by Marriott include the Inn at Opryland, an overflow hotel adjacent to Gaylord Opryland, and the AC Hotel at National Harbor, Washington D.C. (“AC Hotel”), an overflow hotel adjacent to Gaylord National. The Company also owns a 62.1% interest in a joint venture (the “Gaylord Rockies joint venture”) that owns the Gaylord Rockies Resort & Convention Center near Denver, Colorado (“Gaylord Rockies”), which opened in December 2018 and is managed by Marriott. As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, management has concluded that the Company is the primary beneficiary of this variable interest entity. As such, the Company has consolidated the assets, liabilities and results of operations of the Gaylord Rockies joint venture in the accompanying condensed consolidated financial statements. The portion of the Gaylord Rockies joint venture that the Company does not own is recorded as noncontrolling interest in consolidated joint venture in the accompanying condensed consolidated balance sheet, and any adjustment necessary to reflect the noncontrolling interest at its redemption value is shown in the accompanying condensed consolidated statement of stockholders’ equity. Creditors of the Gaylord Rockies joint venture have no recourse to the general credit of the Company, except with respect to certain limited loan guarantees as discussed in Note 13, “Commitments and Contingencies” to the condensed consolidated financial statements included herein. The Company also owns a number of media and entertainment assets, including the Grand Ole Opry, the legendary weekly showcase of country music’s finest performers; the Ryman Auditorium, the storied live music venue and former home of the Grand Ole Opry; WSM-AM, the Opry’s radio home; Ole Red, a brand of Blake Shelton-themed bar, music venue and event spaces; and three Nashville-based assets managed by Marriott – Gaylord Springs Golf Links (“Gaylord Springs”), the Wildhorse Saloon, and the General Jackson Showboat. The Company also owns a 50% interest in a joint venture intended to create and distribute a linear multicast and over-the-top channel dedicated to the country music lifestyle (“Circle”), which launched its broadcast network on January 1, 2020. See Note 13, “Commitments and Contingencies” to the condensed consolidated financial statements included herein for further disclosure. The condensed consolidated financial statements include the accounts of Ryman and its subsidiaries and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted from this report pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. In the opinion of management, all adjustments necessary for a fair statement of the results of operations for the interim periods have been included. All adjustments are of a normal, recurring nature. The results of operations for such interim periods are not necessarily indicative of the results for the full year because of seasonal and short-term variations. The Company principally operates, through its subsidiaries and its property managers, as applicable, in the following business segments: Hospitality, Entertainment, and Corporate and Other. Impact of COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of a novel coronavirus disease (COVID-19) as a pandemic, which continues to spread throughout the United States. COVID-19 is having an unprecedented impact on the U.S. economy, and due to the COVID-19 pandemic, there is significant uncertainty surrounding the full extent of its impact on the Company’s future results of operations and financial position. The Company, in consultation with local governmental authorities, first determined to close its Nashville-based entertainment venues on March 15, 2020. As cancellations at the Gaylord Hotels properties began to increase, the Company and its hotel manager, Marriott, implemented a series of operational changes, beginning with scaling back operations at the hotels to reflect reduced occupancy, closing food and beverage outlets, and reducing hourly staffing and culminating with the suspension of operations at the Gaylord Hotels properties beginning March 24, 2020. Hotel employees that were laid off or furloughed were generally paid the equivalent of one week of compensation, and benefits for hotel employees are being maintained through June 30, 2020. The Gaylord Hotels properties, as well as substantially all of the Company’s entertainment assets remain closed, and the decision to reopen will be based on a number of factors and made in consultation with local health authorities. In the Company’s Entertainment segment, in addition to the closure of its entertainment assets, the Company has taken steps to reduce operating costs in all areas. The Company is continuing to pay all full-time and part-time employees at its Company-managed properties through May 15, 2020. To preserve liquidity, on March 17, 2020, the Company completed a $400 million draw from its existing $700 million revolving line of credit as a precaution to ensure funds are available to meet the Company’s obligations for a sustained period of time. At March 31, 2020, the Company had an additional $299.1 million available for borrowing under its revolving credit facility and $662.2 million in unrestricted cash on hand. In addition, following the payment of the Company’s first quarter 2020 dividend as discussed in Note 14, “Stockholders Equity,” to the condensed consolidated financial statements included herein, the Company suspended its regular quarterly dividend payments for the remainder of 2020. The Company’s board of directors will consider a future dividend as permitted by the Company’s credit agreement. The Company’s credit agreement amendment described in Note 17, “Subsequent Events,” to the condensed consolidated financial statements included herein, permits payment of dividends as necessary to maintain the Company’s REIT status and permits the Company to pay a dividend of $0.01 per share each quarter. Any future dividend is subject to the Company’s board of director’s determinations as to the amount of distributions and timing thereof. The Company has deferred substantially all non-essential capital projects, in addition to delaying the Gaylord Rockies expansion project, which was scheduled to begin construction in second quarter 2020. The Gaylord Palms expansion project is continuing, and the Company believes the expansion will allow Gaylord Palms to serve groups moving meetings to next year. The Company amended its credit facility on April 23, 2020, as described in Note 17, “Subsequent Events.” The Company continues to pay all required debt service payments on its indebtedness, lease payments, taxes and other payables. The Company’s smaller hotels, the Inn at Opryland and the AC Hotel, as well as Gaylord Springs, remain operational, and the Company currently has no plans to temporarily close these businesses. Revenues from these assets have been negligible during the COVID-19 pandemic. Block 21 Acquisition In December 2019, the Company entered into an agreement to purchase Block 21, a mixed-use entertainment, lodging, office and retail complex located in Austin, Texas, for $275 million, which includes the assumption of approximately $141 million of existing mortgage debt. Block 21 is the home of the Austin City Limits Live at The Moody Theater (“ACL Live”), a 2,750 -seat entertainment venue that serves as the filming location for the Austin City Limits television series. The Block 21 complex also includes the 251 -room W Austin Hotel, the 350 -seat 3TEN at ACL Live club and approximately 53,000 square feet of Class A commercial space. The Company paid a nonrefundable deposit of $15 million with the agreement, and the acquisition is subject to customary closing conditions, including, but not limited to, the consent to the Company’s assumption of the existing mortgage loan by the loan servicer. If the acquisition is completed, the Company intends to fund the acquisition with a portion of the proceeds from the equity offering discussed in Note 11, “Equity” Newly Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “ Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments In March 2020, the FASB issued ASU No. 2020-04, “ Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenues
Revenues	2. REVENUES: Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales, and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and attrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. Almost all of the Company’s revenues are either cash-based or, for meeting and convention groups who meet the Company’s credit criteria, billed and collected on a short-term receivables basis. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase but are not included in revenue. The Company records a liability upon collection of such taxes from the customer and relieves the liability when payments are remitted to the applicable governmental agency. The Company’s revenues disaggregated by major source are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Hotel group rooms ​ $ 82,711 ​ $ 102,692 Hotel transient rooms ​ 23,417 29,520 Hotel food and beverage - banquets ​ 108,170 126,196 Hotel food and beverage - outlets ​ 37,580 44,947 Hotel other ​ 33,793 34,155 Entertainment admissions/ticketing ​ 10,281 13,623 Entertainment food and beverage ​ 10,027 12,039 Entertainment retail and other ​ 7,051 7,603 Total revenues $ 313,030 $ 370,775 ​ The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Gaylord Opryland $ 76,127 ​ $ 88,958 Gaylord Palms ​ 45,375 ​ 59,917 Gaylord Texan ​ 55,996 ​ 72,039 Gaylord National ​ 49,394 ​ 65,630 Gaylord Rockies ​ ​ 54,598 ​ ​ 45,243 AC Hotel ​ 1,849 ​ 2,435 Inn at Opryland and other ​ 2,332 ​ 3,288 Total Hospitality segment revenues ​ $ 285,671 ​ $ 337,510 ​ The majority of the Company’s Entertainment segment revenues are concentrated in Tennessee. The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment. At March 31, 2020 and December 31, 2019, the Company had $77.7 million and $76.7 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, 2019, approximately $43.3 million was recognized in revenue during the three months ended March 31, 2020.

Income Per Share

Income Per Share	3 Months Ended
	Mar. 31, 2020
Income Per Share
Income Per Share	3. INCOME PER SHARE: The weighted average number of common shares outstanding is calculated as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Weighted average shares outstanding - basic ​ 54,911 ​ 51,349 Effect of dilutive stock-based compensation ​ — ​ 215 Effect of dilutive put rights — 385 Weighted average shares outstanding - diluted 54,911 51,949 ​ For the three months ended March 31, 2020, the effect of dilutive stock-based compensation was the equivalent of 141,000 shares of common stock outstanding. Because the Company had a loss from continuing operations in the three months ended March 31, 2020, these incremental shares were excluded from the computation of dilutive earnings per share as the effect of their inclusion would have been anti-dilutive. As more fully discussed in Note 13, “Commitments and Contingencies,” to the condensed consolidated financial statements included herein, certain affiliates of Ares Management, L.P. (“Ares”) each have a put right to require the Company to purchase their joint venture interests in the Gaylord Rockies joint venture in consideration of cash or operating partnership units (“OP Units”) of RHP Hotel Properties, LP (the “Operating Partnership”). Any OP Units issued by the Operating Partnership to the certain affiliates of Ares will be redeemable at the option of the holders thereof for shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments. For the three months ended March 31, 2020, the effect of dilutive put rights was the equivalent of 538,000 shares of common stock outstanding. Because the Company had a loss from continuing operations in the three months ended March 31, 2020, these incremental shares were excluded from the computation of dilutive earnings per share as the effect of their inclusion would have been anti-dilutive.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2020
Equity
Accumulated Other Comprehensive Loss	4. ACCUMULATED OTHER COMPREHENSIVE LOSS: The Company’s balance in accumulated other comprehensive loss is comprised of amounts related to the Company’s minimum pension liability discussed in Note 11, “Pension and Postretirement Benefits Other Than Pension Plans,” interest rate derivatives designated as cash flow hedges of the Company’s and the Gaylord Rockies joint venture’s outstanding debt as discussed in Note 7, “Debt,” and amounts related to an other-than-temporary impairment of a held-to-maturity investment that existed prior to the Company’s adoption of ASU 2016-13 with respect to the notes receivable discussed in Note 6, “Notes Receivable,” to the condensed consolidated financial statements included herein, and Note 3, “Notes Receivable,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Changes in accumulated other comprehensive loss by component for the three months ended March 31, 2020 and 2019 consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other-Than- ​ ​ ​ ​ ​ ​ ​ Minimum ​ Temporary ​ ​ ​ ​ ​ ​ ​ Pension ​ Impairment of ​ Interest Rate ​ ​ ​ ​ Liability Investment Derivatives Total Balance, December 31, 2019 ​ $ (23,916) ​ $ (5,877) ​ $ 1,634 ​ $ (28,159) Losses arising during period ​ ​ (1,107) ​ ​ — ​ ​ (35,947) ​ ​ (37,054) Amounts reclassified from accumulated other comprehensive loss ​ ​ 17 ​ 52 ​ (452) ​ (383) Net other comprehensive income (loss) ​ (1,090) ​ 52 ​ (36,399) ​ (37,437) Transition adjustment related to adoption of ASU 2016-13 (see Note 1) ​ ​ — ​ ​ 2,158 ​ ​ — ​ ​ 2,158 Balance, March 31, 2020 ​ $ (25,006) ​ $ (3,667) ​ $ (34,765) ​ $ (63,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other-Than- ​ ​ ​ ​ ​ ​ ​ Minimum ​ Temporary ​ ​ ​ ​ ​ ​ ​ Pension ​ Impairment of ​ Interest Rate ​ ​ ​ ​ Liability Investment Derivatives Total Balance, December 31, 2018 ​ $ (21,814) ​ $ (6,210) ​ $ — ​ $ (28,024) Amounts reclassified from accumulated other comprehensive loss ​ 20 ​ 83 ​ — ​ 103 Income tax benefit ​ 6 ​ — ​ — ​ 6 Net other comprehensive income ​ 26 ​ 83 ​ — ​ 109 Transition adjustment related to adoption of ASU 2018-02 ​ ​ (2,707) ​ ​ — ​ ​ — ​ ​ (2,707) Balance, March 31, 2019 ​ $ (24,495) ​ $ (6,127) ​ $ — ​ $ (30,622) ​

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property and Equipment
Property and Equipment	5. PROPERTY AND EQUIPMENT: Property and equipment, including right-of-use finance lease assets, at March 31, 2020 and December 31, 2019 is recorded at cost (except for right-of-use finance lease assets) and summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Land and land improvements ​ $ 350,993 ​ $ 349,024 Buildings ​ 3,441,389 ​ 3,432,136 Furniture, fixtures and equipment ​ 969,130 ​ 968,858 Right-of-use finance lease assets ​ ​ 1,613 ​ ​ 1,613 Construction-in-progress ​ 103,815 ​ 82,906 ​ ​ 4,866,940 ​ 4,834,537 Accumulated depreciation and amortization ​ (1,736,963) ​ (1,704,285) Property and equipment, net ​ $ 3,129,977 ​ $ 3,130,252 ​

Notes Receivable

Notes Receivable	3 Months Ended
	Mar. 31, 2020
Notes Receivable
Notes Receivable	6. NOTES RECEIVABLE: As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, in connection with the development of Gaylord National, the Company holds two issuances of governmental bonds (“Series A bond” and “Series B bond”) with a total carrying value and approximate fair value of $99.9 million and $110.1 million at March 31, 2020 and December 31, 2019, respectively, net of credit loss reserve of $11.0 million and $0, respectively. The Company receives debt service and principal payments thereon, payable from property tax increments, hotel taxes and special hotel rental taxes generated from Gaylord National through the maturity dates of July 1, 2034 and September 1, 2037, respectively. The Company records interest income over the life of the notes using the effective interest method. The Company has the intent and ability to hold these bonds to maturity. In the first quarter of 2020, the Company recorded an initial transition adjustment of $5.2 million and performed its quarterly assessment of credit losses under the newly adopted credit loss standard discussed in Note 1, which considers the estimate of projected tax revenues that will service the Series B bond over its remaining term. These long-range tax revenue projections were updated as a result of the closure of Gaylord National as a result of the COVID-19 pandemic. As a result of these reduced long-range tax revenue projections over the remaining life of the Series B bond, the Company increased its credit loss reserve by $5.8 million at March 31, 2020. During the three months ended March 31, 2020 and 2019, the Company recorded interest income of $1.5 million and $2.6 million, respectively, on these bonds. The Company received payments of $2.9 million and $3.0 million during the three months ended March 31, 2020 and 2019, respectively, relating to these bonds. At March 31, 2020 and December 31, 2019, the Company had accrued interest receivable related to these bonds of $39.0 million and $38.2 million, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt
Debt	7. DEBT: The Company’s debt and finance lease obligations at March 31, 2020 and December 31, 2019 consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 $700M Revolving Credit Facility, interest at LIBOR plus 1.55%, maturing March 31, 2024, less unamortized deferred financing costs of $8,126 and $0 ​ $ 391,874 ​ $ — $300M Term Loan A, interest at LIBOR plus 1.50%, maturing May 31, 2025, less unamortized deferred financing costs of $2,370 and $2,478 ​ 297,630 ​ 297,522 $500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $4,268 and $4,501 ​ 380,732 ​ 381,749 $400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $2,992 and $3,222 ​ 397,008 ​ 396,778 $700M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $11,489 and $11,808, plus unamortized premium of $2,367 and $2,434 ​ 690,878 ​ 690,626 $800M Term Loan (Gaylord Rockies JV), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $7,483 and $8,015 ​ 792,517 ​ 791,985 Finance lease obligations ​ ​ 1,249 ​ ​ 1,308 Total debt ​ $ 2,951,888 ​ $ 2,559,968 ​ Amounts due within one year consist of the amortization payments for the $500 million term loan B of 1.0% of the original principal balance, as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. At March 31, 2020, the Company was in compliance with all of its covenants related to its outstanding debt, and the lenders had waived the covenant in the credit facility that prohibits closure of the Gaylord Hotels properties for longer than a specified period of time. See Note 17, “Subsequent Events,” for additional discussion. Interest Rate Derivatives The Company may enter into interest rate swap agreements to hedge against interest rate fluctuations. The Company and the Gaylord Rockies joint venture have each entered into interest rate swaps to manage interest rate risk associated with the Company’s $500 million term loan B and the Gaylord Rockies joint venture’s $800 million term loan, respectively. Each swap has been designated as a cash flow hedge whereby the Company or the joint venture receives variable-rate amounts in exchange for fixed-rate payments over the life of the agreement without exchange of the underlying principal amount. Neither the Company nor the Gaylord Rockies joint venture use derivatives for trading or speculative purposes and currently do not hold any derivatives that are not designated as hedges. For derivatives designated as and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive loss and subsequently reclassified to interest expense in the same period during which the hedged transaction affects earnings. These amounts reported in accumulated other comprehensive loss will be reclassified to interest expense as interest payments are made on the related variable-rate debt. The Company estimates that $13.6 million will be reclassified from accumulated other comprehensive loss to interest expense in the next twelve months. The estimated fair value of the Company’s derivative financial instruments at March 31, 2020 and December 31, 2019 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset (Liability) Balance ​ ​ ​ ​ Strike ​ ​ ​ ​ ​ Notional ​ March 31, ​ December 31, Hedged Debt ​ Type ​ Rate ​ Index ​ Maturity Date ​ Amount ​ 2020 ​ 2019 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ $ (2,464) ​ $ 959 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,464) ​ ​ 959 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,464) ​ ​ 956 Term Loan B ​ Interest Rate Swap ​ 1.2315% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,486) ​ ​ 934 Gaylord Rockies Loan ​ Interest Rate Swap ​ 1.6500% ​ 1-month LIBOR ​ August 1, 2022 ​ $ 800,000 ​ ​ (24,887) ​ ​ (2,174) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (34,765) ​ $ 1,634 ​ Derivative financial instruments in an asset position are included in prepaid expenses and other assets and those in a liability position are included in other liabilities in the accompanying condensed consolidated balance sheets. The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ Reclassified from Accumulated ​ ​ ​ on Derivative ​ Location of Gain (Loss) ​ OCI into Income (Expense) ​ ​ ​ Three Months Ended ​ Reclassified from Three Months Ended ​ ​ ​ March 31, ​ Accumulated OCI ​ March 31, ​ ​ ​ 2020 ​ 2019 into Income (Expense) 2020 ​ 2019 Derivatives in Cash Flow Hedging Relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ (35,947) ​ $ — ​ Interest expense ​ $ 452 ​ $ — ​ Total derivatives ​ $ (35,947) ​ $ — ​ ​ ​ ​ ​ $ 452 ​ $ — ​ ​ Reclassifications from accumulated other comprehensive loss for interest rate swaps are shown in the table above and included in interest expense. Total consolidated interest expense for the three months ended March 31, 2020 and 2019 was $29.4 million and $32.1 million, respectively. At March 31, 2020, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $35.7 million. As of March 31, 2020, the Company has not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at the aggregate termination value of $35.7 million. In addition, the Company has an agreement with its derivative counterparty that contains a provision whereby the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on the indebtedness.

Deferred Management Rights Proc

Deferred Management Rights Proceeds	3 Months Ended
	Mar. 31, 2020
Deferred Management Rights Proceeds
Deferred Management Rights Proceeds	8. DEFERRED MANAGEMENT RIGHTS PROCEEDS: On October 1, 2012, the Company consummated its agreement to sell the Gaylord Hotels brand and rights to manage the Gaylord Hotels properties (the “Management Rights”) to Marriott for $210.0 million in cash. Effective October 1, 2012, Marriott assumed responsibility for managing the day-to-day operations of the Gaylord Hotels properties pursuant to a management agreement for each Gaylord Hotel property. The Company allocated $190.0 million of the purchase price to the Management Rights, based on the Company’s estimates of the fair values for the respective components. For financial accounting purposes, the amount related to the Management Rights was deferred and is amortized on a straight line basis over the 65-year term of the hotel management agreements, including extensions, as a reduction in management fee expense.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases
Leases	9. LEASES: The Company is a lessee of a 65.3 acre site in Osceola County, Florida on which Gaylord Palms is located, building or land leases for Ole Red Gatlinburg, Ole Red Orlando and Ole Red Tishomingo, various warehouse, general office and other equipment leases. The Gaylord Palms land lease has a term through 2074 , which may be extended through January 2101 , at the Company’s discretion. The leases for Ole Red locations range from five to ten years , with renewal options ranging from five to fifty-five years , at the Company’s discretion. Extension options are not considered reasonably assured and thus are not included in the Company’s calculation of its right-of-use assets and lease liabilities. The terms of the Gaylord Palms lease include variable lease payments based upon net revenues at Gaylord Palms and certain other of the Company’s leases include rental payments adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As the discount rate implicit in the Company’s operating leases is not readily determinable, the Company applied judgments related to the determination of the discount rates used to calculate the lease liability as required by Accounting Standards Codification Topic 842, “ Leases The Company’s lease costs for the three months ended March 31, 2020 and 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Operating lease cost ​ $ 3,287 ​ $ 3,346 ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ 37 ​ 41 ​ Interest on lease liabilities ​ 13 ​ 17 ​ Net lease cost ​ $ 3,337 ​ $ 3,404 ​ ​ Future minimum lease payments under non-cancelable leases at March 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Leases Year 1 ​ $ 6,417 ​ $ 260 Year 2 ​ 6,147 ​ 255 Year 3 ​ 6,039 ​ 232 Year 4 ​ 6,006 ​ 153 Year 5 ​ 5,827 ​ 46 Years thereafter ​ 572,754 ​ 602 Total future minimum lease payments ​ 603,190 ​ 1,548 Less amount representing interest ​ (496,265) ​ ​ (299) Total present value of minimum payments ​ $ 106,925 ​ $ 1,249 ​ ​ ​ ​ ​ ​ ​ ​ The remaining lease term and discount rate for the Company’s leases are as follows: ​ ​ ​ ​ Weighted-average remaining lease term: ​ ​ Operating leases 50.4 years Finance leases 10.1 years Weighted-average discount rate: ​ ​ Operating leases 6.8 % Finance leases 4.0 % ​

Stock Plans

Stock Plans	3 Months Ended
	Mar. 31, 2020
Stock Plans
Stock Plans	10. STOCK PLANS: During the three months ended March 31, 2020, the Company granted 0.1 million restricted stock units with a weighted-average grant date fair value of $92.31 per unit. There were 0.4 million and 0.3 million restricted stock units outstanding at March 31, 2020 and December 31, 2019, respectively. Compensation expense for all of the Company’s stock-based compensation plans was $2.2 million and $2.0 million for the three months ended March 31, 2020 and 2019, respectively.

Pension and Postretirement Bene

Pension and Postretirement Benefits Other than Pension Plans	3 Months Ended
	Mar. 31, 2020
Pension and Postretirement Benefits Other Than Pension Plans
Pension and Postretirement Benefits Other than Pension Plans	11. PENSION AND POSTRETIREMENT BENEFITS OTHER THAN PENSION PLANS: Net periodic pension expense (benefit) reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Interest cost ​ $ 676 ​ $ 878 ​ Expected return on plan assets ​ (1,055) ​ (944) ​ Amortization of net actuarial loss ​ 282 ​ 287 ​ Total net periodic pension expense (benefit) ​ $ (97) ​ $ 221 ​ ​ Net postretirement benefit income reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Interest cost ​ $ 17 ​ $ 25 ​ Amortization of net actuarial loss ​ 63 ​ 61 ​ Amortization of prior service credit ​ (328) ​ (328) ​ Total net postretirement benefit income ​ $ (248) ​ $ (242) ​ ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Taxes
Income Taxes	12. INCOME TAXES: The Company has elected to be taxed as a REIT effective January 1, 2013, pursuant to the U.S. Internal Revenue Code of 1986, as amended. As a REIT, generally the Company will not be subject to federal corporate income taxes on ordinary taxable income and capital gains income from real estate investments that it distributes to its stockholders. The Company will continue to be required to pay federal and state corporate income taxes on earnings of its taxable REIT subsidiaries (“TRSs”). For the three months ended March 31, 2020, the Company recorded an income tax provision of $26.8 million. The provision was primarily due to recording a valuation allowance of $26.7 million, as further described below. In the three months ended March 31, 2020, the Company also recorded income tax expense of $0.1 million, inclusive of valuation allowance, related to the current period operations of the Company. Due to the financial statement impact of the COVID-19 pandemic, the Company reassessed the realizability of net deferred tax assets as of March 31, 2020, and as a result, the Company recorded a full valuation allowance of $26.7 million on the net deferred tax assets of its TRSs. For the three months ended March 31, 2019, the Company recorded an income tax provision of $2.0 million related to regular operations, which differs from the statutory rate primarily due to the REIT dividends paid deduction. At March 31, 2020 and December 31, 2019, the Company had no unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	13. COMMITMENTS AND CONTINGENCIES: Pursuant to the Gaylord Rockies joint venture agreements, certain affiliates of Ares each have a put right to require the Company to purchase their joint venture interests at a defined appraised value during an annual window period or under certain other circumstances (not currently applicable) in consideration of cash or OP Units of the Operating Partnership. Such OP Units have economic terms that are substantially similar to shares of the Company’s common stock. Any OP Units issued by the Operating Partnership to the Ares affiliates will be redeemable at the option of the holders thereof for shares of the Company’s common stock on a one-for-one basis, subject to certain adjustments. Affiliates of RIDA Development Corporation (“RIDA”) also have a put right at a defined appraised value for cash, which will generally become exercisable at the earlier of December 31, 2023 or the date on which a certain change of control of RIDA occurs. In connection with its investment in the Gaylord Rockies joint venture, the Company and an affiliate of RIDA each entered into limited repayment and carry guaranties that, in the aggregate, guarantee repayment of 10% of the principal debt, together with interest and operating expenses, which are to be released once the Gaylord Rockies joint venture achieves a certain debt service coverage threshold as defined in the Gaylord Rockies Loan. Generally, the Gaylord Rockies Loan is non-recourse to the Company, subject to (i) those limited guaranties, (ii) a completion guaranty in the event a property expansion is pursued, and (iii) customary non-recourse carve-outs. In April 2019, a subsidiary of the Company entered into a joint venture with Gray Television, Inc. to create and distribute a linear multicast and over-the-top channel dedicated to the country music lifestyle (“New Country Ventures”). The Company acquired a 50% equity interest in this joint venture and has made capital contributions of $7.0 million. In addition, the joint venture agreement requires the Company to contribute up to an additional $8.0 million through December 31, 2021. The Company accounts for its investment in this joint venture under the equity method of accounting. The Company has entered into employment agreements with certain officers, which provide for severance payments upon certain events, including certain terminations in connection with a change of control. The Company, in the ordinary course of business, is involved in certain legal actions and claims on a variety of matters. It is the opinion of management that such contingencies will not have a material effect on the financial statements of the Company.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity
Stockholders' Equity	14. STOCKHOLDERS’ EQUITY: On February 25, 2020, the Company’s board of directors declared the Company’s first quarter 2020 cash dividend in the amount of $0.95 per share of common stock, or an aggregate of approximately $52.2 million in cash, which was paid on April 15, 2020 to stockholders of record as of the close of business on March 31, 2020. Following the payment of the first quarter 2020 cash dividend, the Company suspended its regular quarterly dividend payments for the remainder of 2020. The Company’s board of directors will consider a future dividend as permitted by the Company’s credit agreement. The Company’s credit agreement amendment described in Note 17, “Subsequent Events,” to the condensed consolidated financial statements included herein, permits payment of dividends as necessary to maintain the Company’s REIT status and permits the Company to pay a dividend of $0.01 per share each quarter. Any future dividend is subject to the Company’s board of director’s determination as to the amount of distributions and the timing thereof.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Fair Value Measurements	15. FAIR VALUE MEASUREMENTS: The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The investments held by the Company in connection with its deferred compensation plan consist of mutual funds traded in an active market. The Company determined the fair value of these mutual funds based on the net asset value per unit of the funds or the portfolio, which is based upon quoted market prices in an active market. Therefore, the Company has categorized these investments as Level 1. The Company’s interest rate swaps and the Gaylord Rockies joint venture’s interest rate swap consist of over-the-counter swap contracts, which are not traded on a public exchange. The Company or the Gaylord Rockies joint venture, as applicable, determines the fair value of these swap contracts based on a widely accepted valuation methodology of netting the discounted future fixed cash flows and the discounted expected variable cash flows, using interest rates derived from observable market interest rate curves and volatilities, with appropriate adjustments for any significant impact of non-performance risk of the parties to the swap contracts. Therefore, these swap contracts have been classified as Level 2. The Company has consistently applied the above valuation techniques in all periods presented and believes it has obtained the most accurate information available for each type of instrument. The Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2020 and December 31, 2019, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for Observable Unobservable ​ ​ March 31, ​ Identical Assets ​ Inputs ​ Inputs ​ ​ 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Deferred compensation plan investments ​ $ 25,940 ​ $ 25,940 ​ $ — ​ $ — Total assets measured at fair value ​ $ 25,940 ​ $ 25,940 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Variable to fixed interest rate swaps ​ $ 34,765 ​ $ — ​ $ 34,765 ​ $ — Total liabilities measured at fair value ​ $ 34,765 ​ $ — ​ $ 34,765 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for Observable Unobservable ​ ​ December 31, ​ Identical Assets ​ Inputs ​ Inputs ​ ​ 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Deferred compensation plan investments ​ $ 29,174 ​ $ 29,174 ​ $ — ​ $ — Variable to fixed interest rate swaps ​ ​ 3,808 ​ ​ — ​ ​ 3,808 ​ ​ — Total assets measured at fair value ​ $ 32,982 ​ $ 29,174 ​ $ 3,808 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Variable to fixed interest rate swaps ​ $ 2,174 ​ $ — ​ $ 2,174 ​ $ — Total liabilities measured at fair value ​ $ 2,174 ​ $ — ​ $ 2,174 ​ $ — ​ The remainder of the assets and liabilities held by the Company at March 31, 2020 are not required to be recorded at fair value, and the carrying value of these assets and liabilities approximate fair value, except as described below. The Company has outstanding $400.0 million in aggregate principal amount of $400 million 5% senior notes. The carrying value of these notes at March 31, 2020 was $397.0 million, net of unamortized DFCs. The fair value of these notes, based upon quoted market prices (Level 1), was $316.1 million at March 31, 2020. The Company has outstanding $700.0 million in aggregate principal amount of $700 million 4.75% senior notes. The carrying value of these notes at March 31, 2020 was $690.9 million, net of unamortized DFCs and premiums. The fair value of these notes, based upon quoted market prices (Level 1), was $524.0 million at March 31, 2020.

Financial Reporting By Business

Financial Reporting By Business Segments	3 Months Ended
	Mar. 31, 2020
Financial Reporting By Business Segments
Financial Reporting By Business Segments	16. FINANCIAL REPORTING BY BUSINESS SEGMENTS: The Company’s operations are organized into three principal business segments: ● Hospitality , which includes Gaylord Opryland, Gaylord Palms, Gaylord Texan, Gaylord National, the Inn at Opryland, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture; ● Entertainment , which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, the Company’s equity investment in Circle, and the Company’s Nashville-based attractions; and ● Corporate and Other , which includes the Company’s corporate expenses. The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Revenues: ​ ​ Hospitality ​ $ 285,671 ​ $ 337,510 ​ Entertainment ​ 27,359 ​ 33,265 ​ Corporate and Other ​ — ​ — ​ Total ​ $ 313,030 ​ $ 370,775 ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ Hospitality ​ $ 49,769 ​ $ 50,133 ​ Entertainment ​ 3,105 ​ 2,479 ​ Corporate and Other ​ 471 ​ 397 ​ Total ​ $ 53,345 ​ $ 53,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ Hospitality ​ $ 23,817 ​ $ 60,354 ​ Entertainment ​ (5,092) ​ 5,145 ​ Corporate and Other ​ (8,607) ​ (9,401) ​ Preopening costs (1) ​ (801) ​ (2,134) ​ Gain on sale of assets (2) ​ ​ 1,261 ​ ​ — ​ Credit loss on held-to-maturity securities (3) ​ ​ (5,828) ​ ​ — ​ Total operating income ​ 4,750 ​ 53,964 ​ Interest expense ​ (29,358) ​ (32,087) ​ Interest income ​ 2,371 ​ 2,908 ​ Loss from unconsolidated joint ventures ​ (1,895) ​ — ​ Other gains and (losses), net ​ 195 ​ (141) ​ Income (loss) before income taxes ​ $ (23,937) ​ $ 24,644 ​ (1) Preopening costs for the three months ended March 31, 2020 include $0.1 million and $0.7 million for the Hospitality and Entertainment segments, respectively. Preopening costs for the three months ended March 31, 2019 include $0.7 million and $1.4 million for the Hospitality and Entertainment segments, respectively. (2) Gain on sale of assets for the three months ended March 31, 2020 relates to the Hospitality segment. (3) Credit loss on held-to-maturity securities for the three months ended March 31, 2020 relates to the Hospitality segment. ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2020 ​ 2019 Identifiable assets: ​ ​ Hospitality ​ $ 3,462,739 ​ $ 3,494,084 Entertainment ​ 192,696 ​ 181,036 Corporate and Other ​ 689,367 ​ 413,348 Total identifiable assets ​ $ 4,344,802 ​ $ 4,088,468 ​

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events
Subsequent Events	17. SUBSEQUENT EVENTS: On April 23, 2020, the Company entered into Amendment No. 1 (the “Amendment”) to the Company’s Sixth Amended and Restated Credit Agreement (the “Credit Agreement”) among the Company, as a 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, National Association, as administrative agent. The Amendment provides for a waiver of the existing financial covenants through March 31, 2021 and ending on April 1, 2021 (the “Temporary Waiver Period”) and confirms the availability of the remaining $300.0 million of undrawn amounts under the revolving credit facility. In addition, the Amendment contains a covenant that the Company must maintain unrestricted liquidity (in the form of unrestricted cash on hand or undrawn availability under the Revolver) of at least $100 million. During the Temporary Waiver Period, the Amendment provides for increased interest and fees, additional restrictions on debt, investments, dividends, share repurchases and capital expenditures, and a minimum liquidity requirement. The Company may elect to terminate the Temporary Waiver Period prior to expiration. Upon expiration or termination of the Temporary Waiver Period, it will calculate compliance with the financial covenants in the Credit Agreement using a designated annualized calculation based on the Company’s most recently completed fiscal quarter or quarters, as applicable. Pursuant to the Amendment, the Company is required to use any proceeds from borrowings drawn during the Temporary Waiver Period to fund operating expenses, debt service of the Company and its subsidiaries, and permitted capital expenditures and investments. ​

Information Concerning Guaranto

Information Concerning Guarantor and Non-Guarantor Subsidiaries	3 Months Ended
	Mar. 31, 2020
Information Concerning Guarantor and Non-Guarantor Subsidiaries
Information Concerning Guarantor and Non-Guarantor Subsidiaries	18. INFORMATION CONCERNING GUARANTOR AND NON-GUARANTOR SUBSIDIARIES: The Company’s $400 million 5% senior notes and $700 million 4.75% senior notes were each issued by the Operating Partnership and RHP Finance Corporation, a Delaware corporation, and are guaranteed on a senior unsecured basis by the Company, each of the Company’s four wholly-owned subsidiaries that own the Gaylord Hotels properties, and certain other of the Company’s subsidiaries, each of which guarantees the Operating Partnership’s credit facility, as amended (such subsidiary guarantors, together with the Company, the “Guarantors”). The subsidiary Guarantors are 100% owned, and the guarantees are full and unconditional and joint and several. Not all of the Company’s subsidiaries have guaranteed the Company’s $400 million 5% senior notes and $700 million 4.75% senior notes. The following condensed consolidating financial information includes certain allocations of expenses based on management’s best estimates, which are not necessarily indicative of financial position, results of operations and cash flows that these entities would have achieved on a stand-alone basis. RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Parent ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ Guarantor ​ Issuer ​ Guarantors ​ Guarantors ​ Eliminations ​ Consolidated ASSETS: ​ ​ ​ ​ ​ ​ Property and equipment, net of accumulated depreciation ​ $ — ​ $ — ​ $ 1,641,355 ​ $ 1,488,622 ​ $ — ​ $ 3,129,977 Cash and cash equivalents - unrestricted ​ 22 ​ ​ 583,352 ​ 48 ​ 78,734 ​ — ​ 662,156 Cash and cash equivalents - restricted ​ — ​ — ​ — ​ 64,501 ​ — ​ 64,501 Notes receivable ​ — ​ — ​ — ​ 99,900 ​ — ​ 99,900 Trade receivables, less allowance ​ — ​ — ​ — ​ 78,952 ​ — ​ 78,952 Prepaid expenses and other assets ​ — ​ 58 ​ 26 ​ 126,170 ​ (14,018) ​ 112,236 Intangible assets ​ — ​ — ​ — ​ 197,080 ​ — ​ 197,080 Intercompany receivables, net ​ — ​ — ​ 2,142,311 ​ — ​ (2,142,311) ​ — Investments ​ 953,898 ​ ​ 2,949,445 ​ ​ 708,341 ​ ​ 2,040,163 ​ ​ (6,651,847) ​ — Total assets ​ $ 953,920 ​ $ 3,532,855 ​ $ 4,492,081 ​ $ 4,174,122 ​ $ (8,808,176) ​ $ 4,344,802 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY: ​ ​ ​ ​ ​ ​ Debt and finance lease obligations ​ $ — ​ $ 2,158,122 ​ $ — ​ $ 793,766 ​ $ — ​ $ 2,951,888 Accounts payable and accrued liabilities ​ 62 ​ ​ 27,401 ​ ​ 9,247 ​ ​ 210,829 ​ ​ (7,226) ​ 240,313 Dividends payable ​ 53,037 ​ — ​ — ​ — ​ — ​ 53,037 Deferred management rights proceeds ​ — ​ — ​ — ​ 174,558 ​ — ​ 174,558 Operating lease liabilities ​ ​ — ​ ​ — ​ ​ 105,877 ​ ​ 7,840 ​ ​ (6,792) ​ ​ 106,925 Deferred income tax liabilities, net ​ ​ — ​ ​ — ​ ​ 413 ​ ​ 187 ​ ​ — ​ ​ 600 Other liabilities ​ — ​ 9,878 ​ — ​ ​ 84,556 ​ — ​ 94,434 Intercompany payables, net ​ 340,800 ​ ​ 1,553,804 ​ — ​ 247,707 ​ ​ (2,142,311) ​ — Total liabilities ​ ​ 393,899 ​ ​ 3,749,205 ​ ​ 115,537 ​ ​ 1,519,443 ​ ​ (2,156,329) ​ ​ 3,621,755 Commitments and contingencies ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated joint venture ​ ​ — ​ ​ — ​ ​ — ​ ​ 163,026 ​ ​ — ​ ​ 163,026 Stockholders’ equity: ​ ​ ​ ​ ​ ​ Preferred stock ​ — ​ — ​ — ​ — ​ — ​ — Common stock ​ 550 ​ ​ 1 ​ ​ 1 ​ ​ 2,387 ​ ​ (2,389) ​ 550 Additional paid-in-capital ​ 1,185,885 ​ ​ 266,031 ​ ​ 2,894,831 ​ ​ 2,843,451 ​ ​ (6,004,313) ​ 1,185,885 Treasury stock ​ (17,872) ​ — ​ — ​ — ​ — ​ (17,872) Accumulated deficit ​ (545,104) ​ (472,504) ​ ​ 1,481,712 ​ ​ (300,625) ​ ​ (708,583) ​ (545,104) Accumulated other comprehensive loss ​ (63,438) ​ (9,878) ​ — ​ (53,560) ​ ​ 63,438 ​ (63,438) Total stockholders' equity ​ 560,021 ​ (216,350) ​ 4,376,544 ​ 2,491,653 ​ (6,651,847) ​ 560,021 Total liabilities and equity ​ $ 953,920 ​ $ 3,532,855 ​ $ 4,492,081 ​ $ 4,174,122 ​ $ (8,808,176) ​ $ 4,344,802 ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Parent ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ Guarantor ​ Issuer ​ Guarantors ​ Guarantors ​ Eliminations ​ Consolidated ASSETS: ​ ​ ​ ​ ​ ​ Property and equipment, net of accumulated depreciation ​ $ — ​ $ — ​ $ 1,632,744 ​ $ 1,497,508 ​ $ — ​ $ 3,130,252 Cash and cash equivalents - unrestricted ​ 29 ​ 200,534 ​ 3 ​ 161,864 ​ — ​ 362,430 Cash and cash equivalents - restricted ​ — ​ — ​ — ​ 57,966 ​ — ​ 57,966 Notes receivable ​ — ​ — ​ — ​ 110,135 ​ — ​ 110,135 Trade receivables, less allowance ​ — ​ — ​ — ​ 70,768 ​ — ​ 70,768 Deferred income tax assets, net ​ ​ — ​ ​ — ​ ​ (413) ​ ​ 26,372 ​ ​ — ​ ​ 25,959 Prepaid expenses and other assets ​ — ​ 12,390 ​ 3 ​ 118,301 ​ (6,849) ​ 123,845 Intangible assets ​ ​ — ​ ​ — ​ ​ — ​ ​ 207,113 ​ ​ — ​ ​ 207,113 Intercompany receivables, net ​ — ​ — ​ 2,113,481 ​ — ​ (2,113,481) ​ — Investments ​ 1,050,955 ​ 2,949,445 ​ 708,588 ​ 2,077,984 ​ (6,786,972) ​ — Total assets ​ $ 1,050,984 ​ $ 3,162,369 ​ $ 4,454,406 ​ $ 4,328,011 ​ $ (8,907,302) ​ $ 4,088,468 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY: ​ ​ ​ ​ ​ ​ Debt and finance lease obligations ​ $ — ​ $ 1,766,675 ​ $ — ​ $ 793,293 ​ $ — ​ $ 2,559,968 Accounts payable and accrued liabilities ​ 50 ​ 13,738 ​ 6,996 ​ 244,734 ​ (603) ​ 264,915 Dividends payable ​ 50,711 ​ — ​ — ​ — ​ — ​ 50,711 Deferred management rights proceeds ​ — ​ — ​ — ​ 175,332 ​ — ​ 175,332 Operating lease liabilities ​ ​ — ​ ​ — ​ ​ 104,742 ​ ​ 7,835 ​ ​ (6,246) ​ ​ 106,331 Other liabilities ​ — ​ — ​ — ​ 64,971 ​ — ​ 64,971 Intercompany payables, net ​ 355,494 ​ 1,514,770 ​ — ​ 243,217 ​ (2,113,481) ​ — Total liabilities ​ ​ 406,255 ​ ​ 3,295,183 ​ ​ 111,738 ​ ​ 1,529,382 ​ ​ (2,120,330) ​ ​ 3,222,228 Commitments and contingencies ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated joint venture ​ — ​ — ​ — ​ 221,511 ​ — ​ 221,511 Stockholders’ equity: ​ ​ ​ ​ ​ ​ Preferred stock ​ — ​ — ​ — ​ — ​ — ​ — Common stock ​ 549 ​ 1 ​ 1 ​ 2,387 ​ (2,389) ​ 549 Additional paid-in-capital ​ 1,185,168 ​ 315,680 ​ 2,894,830 ​ 2,843,450 ​ (6,053,960) ​ 1,185,168 Treasury stock ​ (17,315) ​ — ​ — ​ — ​ — ​ (17,315) Accumulated deficit ​ (495,514) ​ (452,303) ​ 1,447,837 ​ (236,752) ​ (758,782) ​ (495,514) Accumulated other comprehensive loss ​ (28,159) ​ 3,808 ​ — ​ (31,967) ​ 28,159 ​ (28,159) Total stockholders' equity ​ 644,729 ​ (132,814) ​ 4,342,668 ​ 2,577,118 ​ (6,786,972) ​ 644,729 Total liabilities and equity ​ $ 1,050,984 ​ $ 3,162,369 ​ $ 4,454,406 ​ $ 4,328,011 ​ $ (8,907,302) ​ $ 4,088,468 ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: ​ ​ ​ ​ ​ ​ Rooms ​ $ — ​ $ — ​ $ — $ 106,128 ​ $ — ​ $ 106,128 Food and beverage ​ — ​ — ​ — ​ 145,750 ​ — ​ 145,750 Other hotel revenue ​ — ​ — ​ 64,741 ​ 48,634 ​ (79,582) ​ 33,793 Entertainment ​ — ​ — ​ — ​ 27,898 ​ (539) ​ 27,359 Total revenues ​ — ​ — ​ 64,741 ​ 328,410 ​ (80,121) ​ 313,030 Operating expenses: ​ ​ ​ ​ ​ ​ Rooms ​ — ​ — ​ — ​ 32,308 ​ — ​ 32,308 Food and beverage ​ — ​ — ​ — ​ 83,811 ​ — ​ 83,811 Other hotel expenses ​ — ​ — ​ 12,442 ​ ​ 155,067 ​ ​ (77,035) ​ 90,474 Management fees, net ​ — ​ — ​ — ​ 5,492 ​ — ​ 5,492 Total hotel operating expenses ​ — ​ — ​ 12,442 ​ 276,678 ​ (77,035) ​ 212,085 Entertainment ​ — ​ — ​ — ​ 29,346 ​ — ​ 29,346 Corporate ​ 63 ​ ​ 376 ​ ​ 1 ​ 7,696 ​ — ​ 8,136 Preopening costs ​ — ​ — ​ — ​ 801 ​ — ​ 801 Corporate overhead allocation ​ 979 ​ — ​ 2,107 ​ — ​ (3,086) ​ — Gain on sale of assets ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,261) ​ ​ — ​ ​ (1,261) Credit loss on held-to-maturity securities ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,828 ​ ​ — ​ ​ 5,828 Depreciation and amortization ​ ​ — ​ ​ — ​ ​ 16,316 ​ ​ 37,029 ​ ​ — ​ ​ 53,345 Total operating expenses ​ 1,042 ​ 376 ​ 30,866 ​ 356,117 ​ (80,121) ​ 308,280 Operating income (loss) ​ (1,042) ​ (376) ​ 33,875 ​ (27,707) ​ — ​ 4,750 Interest expense ​ — ​ (20,401) ​ — ​ (9,008) ​ ​ 51 ​ (29,358) Interest income ​ — ​ 576 ​ — ​ 1,846 ​ ​ (51) ​ 2,371 Loss from unconsolidated joint ventures ​ — ​ — ​ — ​ (1,895) ​ — ​ (1,895) Other gains and (losses), net ​ — ​ — ​ — ​ 195 ​ — ​ 195 Income (loss) before income taxes ​ (1,042) ​ (20,201) ​ 33,875 ​ (36,569) ​ — ​ (23,937) Provision for income taxes ​ — ​ — ​ — ​ ​ (26,799) ​ — ​ (26,799) Equity in subsidiaries’ losses, net ​ (49,694) ​ — ​ — ​ — ​ 49,694 ​ — Net income (loss) ​ $ (50,736) ​ $ (20,201) ​ $ 33,875 ​ $ (63,368) ​ $ 49,694 ​ $ (50,736) Comprehensive income (loss), net of taxes ​ $ (88,173) ​ $ (33,887) ​ $ 33,875 ​ $ (87,119) ​ $ 87,131 ​ $ (88,173) Net income (loss) available to common shareholders ​ $ (46,516) ​ $ (20,201) ​ $ 33,875 ​ $ (63,368) ​ $ 49,694 ​ $ (46,516) Comprehensive income (loss), net of taxes, available to common shareholders ​ $ (75,344) ​ $ (33,887) ​ $ 33,875 ​ $ (74,290) ​ $ 74,302 ​ $ (75,344) ​ ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: ​ ​ ​ ​ ​ ​ Rooms ​ $ — ​ $ — ​ $ — ​ $ 132,212 ​ $ — ​ $ 132,212 Food and beverage ​ — ​ — ​ — ​ 171,143 ​ — ​ 171,143 Other hotel revenue ​ — ​ — ​ 80,410 ​ 48,424 ​ (94,679) ​ 34,155 Entertainment ​ — ​ — ​ — ​ 33,789 ​ (524) ​ 33,265 Total revenues ​ — ​ — ​ 80,410 ​ 385,568 ​ (95,203) ​ 370,775 Operating expenses: ​ ​ ​ ​ ​ ​ Rooms ​ — ​ — ​ — ​ 34,969 ​ — ​ 34,969 Food and beverage ​ — ​ — ​ — ​ 91,359 ​ — ​ 91,359 Other hotel expenses ​ — ​ — ​ 12,052 ​ 169,982 ​ (91,095) ​ 90,939 Management fees, net ​ — ​ — ​ — ​ 9,756 ​ — ​ 9,756 Total hotel operating expenses ​ — ​ — ​ 12,052 ​ 306,066 ​ (91,095) ​ 227,023 Entertainment ​ — ​ — ​ — ​ 25,694 ​ (53) ​ 25,641 Corporate ​ 63 ​ 451 ​ 1 ​ 8,489 ​ — ​ 9,004 Preopening costs ​ — ​ — ​ — ​ 2,134 ​ — ​ 2,134 Corporate overhead allocation ​ 997 ​ — ​ 3,058 ​ — ​ (4,055) ​ — Depreciation and amortization ​ — ​ — ​ 16,250 ​ 36,759 ​ — ​ 53,009 Total operating expenses ​ 1,060 ​ 451 ​ 31,361 ​ 379,142 ​ (95,203) ​ 316,811 Operating income (loss) ​ (1,060) ​ (451) ​ 49,049 ​ 6,426 ​ — ​ 53,964 Interest expense ​ — ​ (23,839) ​ — ​ (8,354) ​ 106 ​ (32,087) Interest income ​ — ​ 8 ​ — ​ 3,006 ​ (106) ​ 2,908 Other gains and (losses), net ​ — ​ — ​ — ​ (141) ​ — ​ (141) Income (loss) before income taxes ​ (1,060) ​ (24,282) ​ 49,049 ​ 937 ​ — ​ 24,644 Provision for income taxes ​ — ​ — ​ (38) ​ (1,936) ​ — ​ (1,974) Equity in subsidiaries’ earnings, net ​ 23,730 ​ — ​ — ​ — ​ (23,730) ​ — Net income (loss) ​ $ 22,670 ​ $ (24,282) ​ $ 49,011 ​ $ (999) ​ $ (23,730) ​ $ 22,670 Comprehensive income (loss) ​ $ 22,779 ​ $ (24,282) ​ $ 49,011 ​ $ (890) ​ $ (23,839) ​ $ 22,779 Net income (loss) available to common shareholders ​ $ 29,408 ​ $ (24,282) ​ $ 49,011 ​ $ (999) ​ $ (23,730) ​ $ 29,408 Comprehensive income (loss), net of taxes, available to common shareholders ​ $ 29,517 ​ $ (24,282) ​ $ 49,011 ​ $ (890) ​ $ (23,839) ​ $ 29,517 ​ ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ Non- ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities ​ $ 51,733 ​ $ (15,826) ​ $ 23,063 ​ $ (54,299) ​ $ — ​ $ 4,671 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of property and equipment ​ — ​ — ​ (23,018) ​ ​ (20,150) ​ — ​ (43,168) Investment in other joint ventures ​ — ​ — ​ — ​ (3,090) ​ — ​ (3,090) Other investing activities ​ — ​ — ​ — ​ 1,004 ​ — ​ 1,004 Net cash used in investing activities ​ — ​ — ​ (23,018) ​ (22,236) ​ — ​ (45,254) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net borrowings under revolving credit facility ​ — ​ 400,000 ​ — ​ — ​ — ​ 400,000 Repayments under term loan B ​ — ​ (1,250) ​ — ​ — ​ — ​ (1,250) Deferred financing costs paid ​ — ​ (106) ​ — ​ ​ ​ — ​ (106) Payment of dividends ​ (50,078) ​ — ​ — ​ — ​ — ​ (50,078) Payment of tax withholdings for share-based compensation ​ (1,631) ​ — ​ — ​ — ​ — ​ (1,631) Other financing activities ​ (31) ​ — ​ — ​ (60) ​ — ​ (91) Net cash provided by (used in) financing activities ​ (51,740) ​ 398,644 ​ — ​ (60) ​ — ​ 346,844 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash, cash equivalents, and restricted cash ​ (7) ​ 382,818 ​ 45 ​ (76,595) ​ — ​ 306,261 Cash, cash equivalents, and restricted cash, beginning of period ​ 29 ​ 200,534 ​ 3 ​ 219,830 ​ — ​ 420,396 Cash, cash equivalents, and restricted cash, end of period ​ $ 22 ​ $ 583,352 ​ $ 48 ​ $ 143,235 ​ $ — ​ $ 726,657 ​ ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ Non- ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities ​ $ 48,198 ​ $ (8,415) ​ $ 7,077 ​ $ 7,700 ​ $ — ​ $ 54,560 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of property and equipment ​ — ​ — ​ (7,083) ​ (41,790) ​ — ​ (48,873) Investment in other joint ventures ​ — ​ — ​ — ​ (102) ​ — ​ (102) Other investing activities ​ — ​ — ​ — ​ (127) ​ — ​ (127) Net cash used in investing activities ​ — ​ — ​ (7,083) ​ (42,019) ​ — ​ (49,102) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net borrowings under revolving credit facility ​ — ​ 10,000 ​ — ​ — ​ — ​ 10,000 Borrowings under Gaylord Rockies construction and mezzanine loans ​ ​ — ​ ​ — ​ ​ — ​ ​ 28,897 ​ ​ — ​ ​ 28,897 Payment of dividends ​ (44,420) ​ — ​ — ​ — ​ — ​ (44,420) Payment of tax withholdings for share-based compensation ​ (3,813) ​ — ​ — ​ — ​ — ​ (3,813) Other financing activities ​ — ​ — ​ — ​ 1,605 ​ — ​ 1,605 Net cash provided by (used in) financing activities ​ (48,233) ​ 10,000 ​ — ​ 30,502 ​ — ​ (7,731) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash, cash equivalents, and restricted cash ​ (35) ​ 1,585 ​ (6) ​ (3,817) ​ — ​ (2,273) Cash, cash equivalents, and restricted cash, beginning of period ​ 81 ​ 657 ​ 54 ​ 148,297 ​ — ​ 149,089 Cash, cash equivalents, and restricted cash, end of period ​ $ 46 ​ $ 2,242 ​ $ 48 ​ $ 144,480 ​ $ — ​ $ 146,816 ​

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Basis of Presentation
Revenue Recognition	Revenues from occupied hotel rooms are recognized over time as the daily hotel stay is provided to hotel groups and guests. Revenues from concessions, food and beverage sales, and group meeting services are recognized over the period or at the point in time those goods or services are delivered to the hotel group or guest. Revenues from ancillary services at the Company’s hotels, such as spa, parking, and transportation services, are generally recognized at the time the goods or services are provided. Cancellation fees and attrition fees, which are charged to groups when they do not fulfill the minimum number of room nights or minimum food and beverage spending requirements originally contracted for, are generally recognized as revenue in the period the Company determines it is probable that a significant reversal in the amount of revenue recognized will not occur, which is typically the period these fees are collected. The Company generally recognizes revenues from the Entertainment segment at the point in time that services are provided or goods are delivered or shipped to the customer, as applicable. Almost all of the Company’s revenues are either cash-based or, for meeting and convention groups who meet the Company’s credit criteria, billed and collected on a short-term receivables basis. The Company is required to collect certain taxes from customers on behalf of government agencies and remit these to the applicable governmental entity on a periodic basis. These taxes are collected from customers at the time of purchase but are not included in revenue. The Company records a liability upon collection of such taxes from the customer and relieves the liability when payments are remitted to the applicable governmental agency.
Deferred Revenue	The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms in its Hospitality segment and advanced ticketing in its Entertainment segment.
Newly Issued Accounting Standards	Newly Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “ Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments In March 2020, the FASB issued ASU No. 2020-04, “ Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenues
Revenues Disaggregated by Major Source	The Company’s revenues disaggregated by major source are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Hotel group rooms ​ $ 82,711 ​ $ 102,692 Hotel transient rooms ​ 23,417 29,520 Hotel food and beverage - banquets ​ 108,170 126,196 Hotel food and beverage - outlets ​ 37,580 44,947 Hotel other ​ 33,793 34,155 Entertainment admissions/ticketing ​ 10,281 13,623 Entertainment food and beverage ​ 10,027 12,039 Entertainment retail and other ​ 7,051 7,603 Total revenues $ 313,030 $ 370,775
Hospitality Segment Revenues Disaggregated by Location	The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Gaylord Opryland $ 76,127 ​ $ 88,958 Gaylord Palms ​ 45,375 ​ 59,917 Gaylord Texan ​ 55,996 ​ 72,039 Gaylord National ​ 49,394 ​ 65,630 Gaylord Rockies ​ ​ 54,598 ​ ​ 45,243 AC Hotel ​ 1,849 ​ 2,435 Inn at Opryland and other ​ 2,332 ​ 3,288 Total Hospitality segment revenues ​ $ 285,671 ​ $ 337,510

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Income Per Share
Weighted Average Number of Common Shares Outstanding	The weighted average number of common shares outstanding is calculated as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Weighted average shares outstanding - basic ​ 54,911 ​ 51,349 Effect of dilutive stock-based compensation ​ — ​ 215 Effect of dilutive put rights — 385 Weighted average shares outstanding - diluted 54,911 51,949

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2020
Equity
Summary of Changes in Accumulated Other Comprehensive Loss by Component	Changes in accumulated other comprehensive loss by component for the three months ended March 31, 2020 and 2019 consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other-Than- ​ ​ ​ ​ ​ ​ ​ Minimum ​ Temporary ​ ​ ​ ​ ​ ​ ​ Pension ​ Impairment of ​ Interest Rate ​ ​ ​ ​ Liability Investment Derivatives Total Balance, December 31, 2019 ​ $ (23,916) ​ $ (5,877) ​ $ 1,634 ​ $ (28,159) Losses arising during period ​ ​ (1,107) ​ ​ — ​ ​ (35,947) ​ ​ (37,054) Amounts reclassified from accumulated other comprehensive loss ​ ​ 17 ​ 52 ​ (452) ​ (383) Net other comprehensive income (loss) ​ (1,090) ​ 52 ​ (36,399) ​ (37,437) Transition adjustment related to adoption of ASU 2016-13 (see Note 1) ​ ​ — ​ ​ 2,158 ​ ​ — ​ ​ 2,158 Balance, March 31, 2020 ​ $ (25,006) ​ $ (3,667) ​ $ (34,765) ​ $ (63,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other-Than- ​ ​ ​ ​ ​ ​ ​ Minimum ​ Temporary ​ ​ ​ ​ ​ ​ ​ Pension ​ Impairment of ​ Interest Rate ​ ​ ​ ​ Liability Investment Derivatives Total Balance, December 31, 2018 ​ $ (21,814) ​ $ (6,210) ​ $ — ​ $ (28,024) Amounts reclassified from accumulated other comprehensive loss ​ 20 ​ 83 ​ — ​ 103 Income tax benefit ​ 6 ​ — ​ — ​ 6 Net other comprehensive income ​ 26 ​ 83 ​ — ​ 109 Transition adjustment related to adoption of ASU 2018-02 ​ ​ (2,707) ​ ​ — ​ ​ — ​ ​ (2,707) Balance, March 31, 2019 ​ $ (24,495) ​ $ (6,127) ​ $ — ​ $ (30,622)

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property and Equipment
Property and Equipment	Property and equipment, including right-of-use finance lease assets, at March 31, 2020 and December 31, 2019 is recorded at cost (except for right-of-use finance lease assets) and summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Land and land improvements ​ $ 350,993 ​ $ 349,024 Buildings ​ 3,441,389 ​ 3,432,136 Furniture, fixtures and equipment ​ 969,130 ​ 968,858 Right-of-use finance lease assets ​ ​ 1,613 ​ ​ 1,613 Construction-in-progress ​ 103,815 ​ 82,906 ​ ​ 4,866,940 ​ 4,834,537 Accumulated depreciation and amortization ​ (1,736,963) ​ (1,704,285) Property and equipment, net ​ $ 3,129,977 ​ $ 3,130,252

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt
Summary of Debt and Finance Lease Obligations	The Company’s debt and finance lease obligations at March 31, 2020 and December 31, 2019 consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 $700M Revolving Credit Facility, interest at LIBOR plus 1.55%, maturing March 31, 2024, less unamortized deferred financing costs of $8,126 and $0 ​ $ 391,874 ​ $ — $300M Term Loan A, interest at LIBOR plus 1.50%, maturing May 31, 2025, less unamortized deferred financing costs of $2,370 and $2,478 ​ 297,630 ​ 297,522 $500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $4,268 and $4,501 ​ 380,732 ​ 381,749 $400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $2,992 and $3,222 ​ 397,008 ​ 396,778 $700M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $11,489 and $11,808, plus unamortized premium of $2,367 and $2,434 ​ 690,878 ​ 690,626 $800M Term Loan (Gaylord Rockies JV), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $7,483 and $8,015 ​ 792,517 ​ 791,985 Finance lease obligations ​ ​ 1,249 ​ ​ 1,308 Total debt ​ $ 2,951,888 ​ $ 2,559,968
Schedule of Fair Value of the Company's Derivative Financial Instruments	The estimated fair value of the Company’s derivative financial instruments at March 31, 2020 and December 31, 2019 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset (Liability) Balance ​ ​ ​ ​ Strike ​ ​ ​ ​ ​ Notional ​ March 31, ​ December 31, Hedged Debt ​ Type ​ Rate ​ Index ​ Maturity Date ​ Amount ​ 2020 ​ 2019 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ $ (2,464) ​ $ 959 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,464) ​ ​ 959 Term Loan B ​ Interest Rate Swap ​ 1.2235% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,464) ​ ​ 956 Term Loan B ​ Interest Rate Swap ​ 1.2315% ​ 1-month LIBOR ​ May 11, 2023 ​ $ 87,500 ​ ​ (2,486) ​ ​ 934 Gaylord Rockies Loan ​ Interest Rate Swap ​ 1.6500% ​ 1-month LIBOR ​ August 1, 2022 ​ $ 800,000 ​ ​ (24,887) ​ ​ (2,174) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (34,765) ​ $ 1,634
Summary of Effect of Derivative Financial Instruments on the Accompanying Condensed Consolidated Statements of Operations	The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ Reclassified from Accumulated ​ ​ ​ on Derivative ​ Location of Gain (Loss) ​ OCI into Income (Expense) ​ ​ ​ Three Months Ended ​ Reclassified from Three Months Ended ​ ​ ​ March 31, ​ Accumulated OCI ​ March 31, ​ ​ ​ 2020 ​ 2019 into Income (Expense) 2020 ​ 2019 Derivatives in Cash Flow Hedging Relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ (35,947) ​ $ — ​ Interest expense ​ $ 452 ​ $ — ​ Total derivatives ​ $ (35,947) ​ $ — ​ ​ ​ ​ ​ $ 452 ​ $ — ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases
Schedule of Company's Lease Cost	The Company’s lease costs for the three months ended March 31, 2020 and 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Operating lease cost ​ $ 3,287 ​ $ 3,346 ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ 37 ​ 41 ​ Interest on lease liabilities ​ 13 ​ 17 ​ Net lease cost ​ $ 3,337 ​ $ 3,404 ​
Summary of Maturities of Operating Lease Liabilities	Future minimum lease payments under non-cancelable leases at March 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Leases Year 1 ​ $ 6,417 ​ $ 260 Year 2 ​ 6,147 ​ 255 Year 3 ​ 6,039 ​ 232 Year 4 ​ 6,006 ​ 153 Year 5 ​ 5,827 ​ 46 Years thereafter ​ 572,754 ​ 602 Total future minimum lease payments ​ 603,190 ​ 1,548 Less amount representing interest ​ (496,265) ​ ​ (299) Total present value of minimum payments ​ $ 106,925 ​ $ 1,249 ​ ​ ​ ​ ​ ​ ​
Schedule of Remaining Lease Term and Discount Rate of Leases	​ ​ ​ ​ Weighted-average remaining lease term: ​ ​ Operating leases 50.4 years Finance leases 10.1 years Weighted-average discount rate: ​ ​ Operating leases 6.8 % Finance leases 4.0 %

Pension and Postretirement Be_2

Pension and Postretirement Benefits Other Than Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net periodic pension expense (benefit) reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Interest cost ​ $ 676 ​ $ 878 ​ Expected return on plan assets ​ (1,055) ​ (944) ​ Amortization of net actuarial loss ​ 282 ​ 287 ​ Total net periodic pension expense (benefit) ​ $ (97) ​ $ 221 ​
Postretirement Health Coverage [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net Periodic Pension and Postretirement Benefit (Income) Expense	Net postretirement benefit income reflected in other gains and (losses), net in the accompanying condensed consolidated statements of operations included the following components for the respective periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Interest cost ​ $ 17 ​ $ 25 ​ Amortization of net actuarial loss ​ 63 ​ 61 ​ Amortization of prior service credit ​ (328) ​ (328) ​ Total net postretirement benefit income ​ $ (248) ​ $ (242) ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Assets Measured at Fair Value on Recurring Basis	The Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2020 and December 31, 2019, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for Observable Unobservable ​ ​ March 31, ​ Identical Assets ​ Inputs ​ Inputs ​ ​ 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) Deferred compensation plan investments ​ $ 25,940 ​ $ 25,940 ​ $ — ​ $ — Total assets measured at fair value ​ $ 25,940 ​ $ 25,940 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Variable to fixed interest rate swaps ​ $ 34,765 ​ $ — ​ $ 34,765 ​ $ — Total liabilities measured at fair value ​ $ 34,765 ​ $ — ​ $ 34,765 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for Observable Unobservable ​ ​ December 31, ​ Identical Assets ​ Inputs ​ Inputs ​ ​ 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) Deferred compensation plan investments ​ $ 29,174 ​ $ 29,174 ​ $ — ​ $ — Variable to fixed interest rate swaps ​ ​ 3,808 ​ ​ — ​ ​ 3,808 ​ ​ — Total assets measured at fair value ​ $ 32,982 ​ $ 29,174 ​ $ 3,808 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Variable to fixed interest rate swaps ​ $ 2,174 ​ $ — ​ $ 2,174 ​ $ — Total liabilities measured at fair value ​ $ 2,174 ​ $ — ​ $ 2,174 ​ $ —

Financial Reporting By Busine_2

Financial Reporting By Business Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Financial Reporting By Business Segments
Segments' Internal Financial Reports	The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 Revenues: ​ ​ Hospitality ​ $ 285,671 ​ $ 337,510 ​ Entertainment ​ 27,359 ​ 33,265 ​ Corporate and Other ​ — ​ — ​ Total ​ $ 313,030 ​ $ 370,775 ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ Hospitality ​ $ 49,769 ​ $ 50,133 ​ Entertainment ​ 3,105 ​ 2,479 ​ Corporate and Other ​ 471 ​ 397 ​ Total ​ $ 53,345 ​ $ 53,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ Hospitality ​ $ 23,817 ​ $ 60,354 ​ Entertainment ​ (5,092) ​ 5,145 ​ Corporate and Other ​ (8,607) ​ (9,401) ​ Preopening costs (1) ​ (801) ​ (2,134) ​ Gain on sale of assets (2) ​ ​ 1,261 ​ ​ — ​ Credit loss on held-to-maturity securities (3) ​ ​ (5,828) ​ ​ — ​ Total operating income ​ 4,750 ​ 53,964 ​ Interest expense ​ (29,358) ​ (32,087) ​ Interest income ​ 2,371 ​ 2,908 ​ Loss from unconsolidated joint ventures ​ (1,895) ​ — ​ Other gains and (losses), net ​ 195 ​ (141) ​ Income (loss) before income taxes ​ $ (23,937) ​ $ 24,644 ​ (1) Preopening costs for the three months ended March 31, 2020 include $0.1 million and $0.7 million for the Hospitality and Entertainment segments, respectively. Preopening costs for the three months ended March 31, 2019 include $0.7 million and $1.4 million for the Hospitality and Entertainment segments, respectively. (2) Gain on sale of assets for the three months ended March 31, 2020 relates to the Hospitality segment. (3) Credit loss on held-to-maturity securities for the three months ended March 31, 2020 relates to the Hospitality segment. ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2020 ​ 2019 Identifiable assets: ​ ​ Hospitality ​ $ 3,462,739 ​ $ 3,494,084 Entertainment ​ 192,696 ​ 181,036 Corporate and Other ​ 689,367 ​ 413,348 Total identifiable assets ​ $ 4,344,802 ​ $ 4,088,468

Information Concerning Guaran_2

Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)	3 Months Ended
	Mar. 31, 2020
Basis of Presentation
Condensed Consolidating Balance Sheet	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Parent ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ Guarantor ​ Issuer ​ Guarantors ​ Guarantors ​ Eliminations ​ Consolidated ASSETS: ​ ​ ​ ​ ​ ​ Property and equipment, net of accumulated depreciation ​ $ — ​ $ — ​ $ 1,641,355 ​ $ 1,488,622 ​ $ — ​ $ 3,129,977 Cash and cash equivalents - unrestricted ​ 22 ​ ​ 583,352 ​ 48 ​ 78,734 ​ — ​ 662,156 Cash and cash equivalents - restricted ​ — ​ — ​ — ​ 64,501 ​ — ​ 64,501 Notes receivable ​ — ​ — ​ — ​ 99,900 ​ — ​ 99,900 Trade receivables, less allowance ​ — ​ — ​ — ​ 78,952 ​ — ​ 78,952 Prepaid expenses and other assets ​ — ​ 58 ​ 26 ​ 126,170 ​ (14,018) ​ 112,236 Intangible assets ​ — ​ — ​ — ​ 197,080 ​ — ​ 197,080 Intercompany receivables, net ​ — ​ — ​ 2,142,311 ​ — ​ (2,142,311) ​ — Investments ​ 953,898 ​ ​ 2,949,445 ​ ​ 708,341 ​ ​ 2,040,163 ​ ​ (6,651,847) ​ — Total assets ​ $ 953,920 ​ $ 3,532,855 ​ $ 4,492,081 ​ $ 4,174,122 ​ $ (8,808,176) ​ $ 4,344,802 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY: ​ ​ ​ ​ ​ ​ Debt and finance lease obligations ​ $ — ​ $ 2,158,122 ​ $ — ​ $ 793,766 ​ $ — ​ $ 2,951,888 Accounts payable and accrued liabilities ​ 62 ​ ​ 27,401 ​ ​ 9,247 ​ ​ 210,829 ​ ​ (7,226) ​ 240,313 Dividends payable ​ 53,037 ​ — ​ — ​ — ​ — ​ 53,037 Deferred management rights proceeds ​ — ​ — ​ — ​ 174,558 ​ — ​ 174,558 Operating lease liabilities ​ ​ — ​ ​ — ​ ​ 105,877 ​ ​ 7,840 ​ ​ (6,792) ​ ​ 106,925 Deferred income tax liabilities, net ​ ​ — ​ ​ — ​ ​ 413 ​ ​ 187 ​ ​ — ​ ​ 600 Other liabilities ​ — ​ 9,878 ​ — ​ ​ 84,556 ​ — ​ 94,434 Intercompany payables, net ​ 340,800 ​ ​ 1,553,804 ​ — ​ 247,707 ​ ​ (2,142,311) ​ — Total liabilities ​ ​ 393,899 ​ ​ 3,749,205 ​ ​ 115,537 ​ ​ 1,519,443 ​ ​ (2,156,329) ​ ​ 3,621,755 Commitments and contingencies ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated joint venture ​ ​ — ​ ​ — ​ ​ — ​ ​ 163,026 ​ ​ — ​ ​ 163,026 Stockholders’ equity: ​ ​ ​ ​ ​ ​ Preferred stock ​ — ​ — ​ — ​ — ​ — ​ — Common stock ​ 550 ​ ​ 1 ​ ​ 1 ​ ​ 2,387 ​ ​ (2,389) ​ 550 Additional paid-in-capital ​ 1,185,885 ​ ​ 266,031 ​ ​ 2,894,831 ​ ​ 2,843,451 ​ ​ (6,004,313) ​ 1,185,885 Treasury stock ​ (17,872) ​ — ​ — ​ — ​ — ​ (17,872) Accumulated deficit ​ (545,104) ​ (472,504) ​ ​ 1,481,712 ​ ​ (300,625) ​ ​ (708,583) ​ (545,104) Accumulated other comprehensive loss ​ (63,438) ​ (9,878) ​ — ​ (53,560) ​ ​ 63,438 ​ (63,438) Total stockholders' equity ​ 560,021 ​ (216,350) ​ 4,376,544 ​ 2,491,653 ​ (6,651,847) ​ 560,021 Total liabilities and equity ​ $ 953,920 ​ $ 3,532,855 ​ $ 4,492,081 ​ $ 4,174,122 ​ $ (8,808,176) ​ $ 4,344,802 ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Parent ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ Guarantor ​ Issuer ​ Guarantors ​ Guarantors ​ Eliminations ​ Consolidated ASSETS: ​ ​ ​ ​ ​ ​ Property and equipment, net of accumulated depreciation ​ $ — ​ $ — ​ $ 1,632,744 ​ $ 1,497,508 ​ $ — ​ $ 3,130,252 Cash and cash equivalents - unrestricted ​ 29 ​ 200,534 ​ 3 ​ 161,864 ​ — ​ 362,430 Cash and cash equivalents - restricted ​ — ​ — ​ — ​ 57,966 ​ — ​ 57,966 Notes receivable ​ — ​ — ​ — ​ 110,135 ​ — ​ 110,135 Trade receivables, less allowance ​ — ​ — ​ — ​ 70,768 ​ — ​ 70,768 Deferred income tax assets, net ​ ​ — ​ ​ — ​ ​ (413) ​ ​ 26,372 ​ ​ — ​ ​ 25,959 Prepaid expenses and other assets ​ — ​ 12,390 ​ 3 ​ 118,301 ​ (6,849) ​ 123,845 Intangible assets ​ ​ — ​ ​ — ​ ​ — ​ ​ 207,113 ​ ​ — ​ ​ 207,113 Intercompany receivables, net ​ — ​ — ​ 2,113,481 ​ — ​ (2,113,481) ​ — Investments ​ 1,050,955 ​ 2,949,445 ​ 708,588 ​ 2,077,984 ​ (6,786,972) ​ — Total assets ​ $ 1,050,984 ​ $ 3,162,369 ​ $ 4,454,406 ​ $ 4,328,011 ​ $ (8,907,302) ​ $ 4,088,468 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY: ​ ​ ​ ​ ​ ​ Debt and finance lease obligations ​ $ — ​ $ 1,766,675 ​ $ — ​ $ 793,293 ​ $ — ​ $ 2,559,968 Accounts payable and accrued liabilities ​ 50 ​ 13,738 ​ 6,996 ​ 244,734 ​ (603) ​ 264,915 Dividends payable ​ 50,711 ​ — ​ — ​ — ​ — ​ 50,711 Deferred management rights proceeds ​ — ​ — ​ — ​ 175,332 ​ — ​ 175,332 Operating lease liabilities ​ ​ — ​ ​ — ​ ​ 104,742 ​ ​ 7,835 ​ ​ (6,246) ​ ​ 106,331 Other liabilities ​ — ​ — ​ — ​ 64,971 ​ — ​ 64,971 Intercompany payables, net ​ 355,494 ​ 1,514,770 ​ — ​ 243,217 ​ (2,113,481) ​ — Total liabilities ​ ​ 406,255 ​ ​ 3,295,183 ​ ​ 111,738 ​ ​ 1,529,382 ​ ​ (2,120,330) ​ ​ 3,222,228 Commitments and contingencies ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated joint venture ​ — ​ — ​ — ​ 221,511 ​ — ​ 221,511 Stockholders’ equity: ​ ​ ​ ​ ​ ​ Preferred stock ​ — ​ — ​ — ​ — ​ — ​ — Common stock ​ 549 ​ 1 ​ 1 ​ 2,387 ​ (2,389) ​ 549 Additional paid-in-capital ​ 1,185,168 ​ 315,680 ​ 2,894,830 ​ 2,843,450 ​ (6,053,960) ​ 1,185,168 Treasury stock ​ (17,315) ​ — ​ — ​ — ​ — ​ (17,315) Accumulated deficit ​ (495,514) ​ (452,303) ​ 1,447,837 ​ (236,752) ​ (758,782) ​ (495,514) Accumulated other comprehensive loss ​ (28,159) ​ 3,808 ​ — ​ (31,967) ​ 28,159 ​ (28,159) Total stockholders' equity ​ 644,729 ​ (132,814) ​ 4,342,668 ​ 2,577,118 ​ (6,786,972) ​ 644,729 Total liabilities and equity ​ $ 1,050,984 ​ $ 3,162,369 ​ $ 4,454,406 ​ $ 4,328,011 ​ $ (8,907,302) ​ $ 4,088,468
Condensed Consolidating Statement of Operations and Comprehensive Income	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: ​ ​ ​ ​ ​ ​ Rooms ​ $ — ​ $ — ​ $ — $ 106,128 ​ $ — ​ $ 106,128 Food and beverage ​ — ​ — ​ — ​ 145,750 ​ — ​ 145,750 Other hotel revenue ​ — ​ — ​ 64,741 ​ 48,634 ​ (79,582) ​ 33,793 Entertainment ​ — ​ — ​ — ​ 27,898 ​ (539) ​ 27,359 Total revenues ​ — ​ — ​ 64,741 ​ 328,410 ​ (80,121) ​ 313,030 Operating expenses: ​ ​ ​ ​ ​ ​ Rooms ​ — ​ — ​ — ​ 32,308 ​ — ​ 32,308 Food and beverage ​ — ​ — ​ — ​ 83,811 ​ — ​ 83,811 Other hotel expenses ​ — ​ — ​ 12,442 ​ ​ 155,067 ​ ​ (77,035) ​ 90,474 Management fees, net ​ — ​ — ​ — ​ 5,492 ​ — ​ 5,492 Total hotel operating expenses ​ — ​ — ​ 12,442 ​ 276,678 ​ (77,035) ​ 212,085 Entertainment ​ — ​ — ​ — ​ 29,346 ​ — ​ 29,346 Corporate ​ 63 ​ ​ 376 ​ ​ 1 ​ 7,696 ​ — ​ 8,136 Preopening costs ​ — ​ — ​ — ​ 801 ​ — ​ 801 Corporate overhead allocation ​ 979 ​ — ​ 2,107 ​ — ​ (3,086) ​ — Gain on sale of assets ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,261) ​ ​ — ​ ​ (1,261) Credit loss on held-to-maturity securities ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,828 ​ ​ — ​ ​ 5,828 Depreciation and amortization ​ ​ — ​ ​ — ​ ​ 16,316 ​ ​ 37,029 ​ ​ — ​ ​ 53,345 Total operating expenses ​ 1,042 ​ 376 ​ 30,866 ​ 356,117 ​ (80,121) ​ 308,280 Operating income (loss) ​ (1,042) ​ (376) ​ 33,875 ​ (27,707) ​ — ​ 4,750 Interest expense ​ — ​ (20,401) ​ — ​ (9,008) ​ ​ 51 ​ (29,358) Interest income ​ — ​ 576 ​ — ​ 1,846 ​ ​ (51) ​ 2,371 Loss from unconsolidated joint ventures ​ — ​ — ​ — ​ (1,895) ​ — ​ (1,895) Other gains and (losses), net ​ — ​ — ​ — ​ 195 ​ — ​ 195 Income (loss) before income taxes ​ (1,042) ​ (20,201) ​ 33,875 ​ (36,569) ​ — ​ (23,937) Provision for income taxes ​ — ​ — ​ — ​ ​ (26,799) ​ — ​ (26,799) Equity in subsidiaries’ losses, net ​ (49,694) ​ — ​ — ​ — ​ 49,694 ​ — Net income (loss) ​ $ (50,736) ​ $ (20,201) ​ $ 33,875 ​ $ (63,368) ​ $ 49,694 ​ $ (50,736) Comprehensive income (loss), net of taxes ​ $ (88,173) ​ $ (33,887) ​ $ 33,875 ​ $ (87,119) ​ $ 87,131 ​ $ (88,173) Net income (loss) available to common shareholders ​ $ (46,516) ​ $ (20,201) ​ $ 33,875 ​ $ (63,368) ​ $ 49,694 ​ $ (46,516) Comprehensive income (loss), net of taxes, available to common shareholders ​ $ (75,344) ​ $ (33,887) ​ $ 33,875 ​ $ (74,290) ​ $ 74,302 ​ $ (75,344) ​ ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantors Eliminations Consolidated Revenues: ​ ​ ​ ​ ​ ​ Rooms ​ $ — ​ $ — ​ $ — ​ $ 132,212 ​ $ — ​ $ 132,212 Food and beverage ​ — ​ — ​ — ​ 171,143 ​ — ​ 171,143 Other hotel revenue ​ — ​ — ​ 80,410 ​ 48,424 ​ (94,679) ​ 34,155 Entertainment ​ — ​ — ​ — ​ 33,789 ​ (524) ​ 33,265 Total revenues ​ — ​ — ​ 80,410 ​ 385,568 ​ (95,203) ​ 370,775 Operating expenses: ​ ​ ​ ​ ​ ​ Rooms ​ — ​ — ​ — ​ 34,969 ​ — ​ 34,969 Food and beverage ​ — ​ — ​ — ​ 91,359 ​ — ​ 91,359 Other hotel expenses ​ — ​ — ​ 12,052 ​ 169,982 ​ (91,095) ​ 90,939 Management fees, net ​ — ​ — ​ — ​ 9,756 ​ — ​ 9,756 Total hotel operating expenses ​ — ​ — ​ 12,052 ​ 306,066 ​ (91,095) ​ 227,023 Entertainment ​ — ​ — ​ — ​ 25,694 ​ (53) ​ 25,641 Corporate ​ 63 ​ 451 ​ 1 ​ 8,489 ​ — ​ 9,004 Preopening costs ​ — ​ — ​ — ​ 2,134 ​ — ​ 2,134 Corporate overhead allocation ​ 997 ​ — ​ 3,058 ​ — ​ (4,055) ​ — Depreciation and amortization ​ — ​ — ​ 16,250 ​ 36,759 ​ — ​ 53,009 Total operating expenses ​ 1,060 ​ 451 ​ 31,361 ​ 379,142 ​ (95,203) ​ 316,811 Operating income (loss) ​ (1,060) ​ (451) ​ 49,049 ​ 6,426 ​ — ​ 53,964 Interest expense ​ — ​ (23,839) ​ — ​ (8,354) ​ 106 ​ (32,087) Interest income ​ — ​ 8 ​ — ​ 3,006 ​ (106) ​ 2,908 Other gains and (losses), net ​ — ​ — ​ — ​ (141) ​ — ​ (141) Income (loss) before income taxes ​ (1,060) ​ (24,282) ​ 49,049 ​ 937 ​ — ​ 24,644 Provision for income taxes ​ — ​ — ​ (38) ​ (1,936) ​ — ​ (1,974) Equity in subsidiaries’ earnings, net ​ 23,730 ​ — ​ — ​ — ​ (23,730) ​ — Net income (loss) ​ $ 22,670 ​ $ (24,282) ​ $ 49,011 ​ $ (999) ​ $ (23,730) ​ $ 22,670 Comprehensive income (loss) ​ $ 22,779 ​ $ (24,282) ​ $ 49,011 ​ $ (890) ​ $ (23,839) ​ $ 22,779 Net income (loss) available to common shareholders ​ $ 29,408 ​ $ (24,282) ​ $ 49,011 ​ $ (999) ​ $ (23,730) ​ $ 29,408 Comprehensive income (loss), net of taxes, available to common shareholders ​ $ 29,517 ​ $ (24,282) ​ $ 49,011 ​ $ (890) ​ $ (23,839) ​ $ 29,517 ​ ​
Condensed Consolidating Statement of Cash Flows	RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ Non- ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities ​ $ 51,733 ​ $ (15,826) ​ $ 23,063 ​ $ (54,299) ​ $ — ​ $ 4,671 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of property and equipment ​ — ​ — ​ (23,018) ​ ​ (20,150) ​ — ​ (43,168) Investment in other joint ventures ​ — ​ — ​ — ​ (3,090) ​ — ​ (3,090) Other investing activities ​ — ​ — ​ — ​ 1,004 ​ — ​ 1,004 Net cash used in investing activities ​ — ​ — ​ (23,018) ​ (22,236) ​ — ​ (45,254) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net borrowings under revolving credit facility ​ — ​ 400,000 ​ — ​ — ​ — ​ 400,000 Repayments under term loan B ​ — ​ (1,250) ​ — ​ — ​ — ​ (1,250) Deferred financing costs paid ​ — ​ (106) ​ — ​ ​ ​ — ​ (106) Payment of dividends ​ (50,078) ​ — ​ — ​ — ​ — ​ (50,078) Payment of tax withholdings for share-based compensation ​ (1,631) ​ — ​ — ​ — ​ — ​ (1,631) Other financing activities ​ (31) ​ — ​ — ​ (60) ​ — ​ (91) Net cash provided by (used in) financing activities ​ (51,740) ​ 398,644 ​ — ​ (60) ​ — ​ 346,844 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash, cash equivalents, and restricted cash ​ (7) ​ 382,818 ​ 45 ​ (76,595) ​ — ​ 306,261 Cash, cash equivalents, and restricted cash, beginning of period ​ 29 ​ 200,534 ​ 3 ​ 219,830 ​ — ​ 420,396 Cash, cash equivalents, and restricted cash, end of period ​ $ 22 ​ $ 583,352 ​ $ 48 ​ $ 143,235 ​ $ — ​ $ 726,657 ​ ​ RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent ​ ​ ​ Non- ​ ​ ​ ​ (in thousands) Guarantor Issuer Guarantors Guarantor Eliminations Consolidated Net cash provided by (used in) operating activities ​ $ 48,198 ​ $ (8,415) ​ $ 7,077 ​ $ 7,700 ​ $ — ​ $ 54,560 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases of property and equipment ​ — ​ — ​ (7,083) ​ (41,790) ​ — ​ (48,873) Investment in other joint ventures ​ — ​ — ​ — ​ (102) ​ — ​ (102) Other investing activities ​ — ​ — ​ — ​ (127) ​ — ​ (127) Net cash used in investing activities ​ — ​ — ​ (7,083) ​ (42,019) ​ — ​ (49,102) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net borrowings under revolving credit facility ​ — ​ 10,000 ​ — ​ — ​ — ​ 10,000 Borrowings under Gaylord Rockies construction and mezzanine loans ​ ​ — ​ ​ — ​ ​ — ​ ​ 28,897 ​ ​ — ​ ​ 28,897 Payment of dividends ​ (44,420) ​ — ​ — ​ — ​ — ​ (44,420) Payment of tax withholdings for share-based compensation ​ (3,813) ​ — ​ — ​ — ​ — ​ (3,813) Other financing activities ​ — ​ — ​ — ​ 1,605 ​ — ​ 1,605 Net cash provided by (used in) financing activities ​ (48,233) ​ 10,000 ​ — ​ 30,502 ​ — ​ (7,731) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash, cash equivalents, and restricted cash ​ (35) ​ 1,585 ​ (6) ​ (3,817) ​ — ​ (2,273) Cash, cash equivalents, and restricted cash, beginning of period ​ 81 ​ 657 ​ 54 ​ 148,297 ​ — ​ 149,089 Cash, cash equivalents, and restricted cash, end of period ​ $ 46 ​ $ 2,242 ​ $ 48 ​ $ 144,480 ​ $ — ​ $ 146,816

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Operating lease liabilities	$ 106,925		$ 106,331
Retained earnings	(545,104)		(495,514)
Accumulated other comprehensive loss	$ (63,438)		$ (28,159)
ASU 2016-13 [Member] | Restatement Adjustment [Member]
Schedule of Equity Method Investments [Line Items]
Retained earnings		$ (5,300)
Accumulated other comprehensive loss		$ 2,200
Gaylord Rockies [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	62.10%
Circle [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	50.00%

Basis of Presentation - Acquisi

Basis of Presentation - Acquisition (Details) - Block 21 [Member] $ in Millions	1 Months Ended
	Dec. 31, 2019USD ($)ft²item
Business Acquisition [Line Items]
Purchase price | $	$ 275
Liabilities assumed | $	141
Nonrefundable deposit | $	$ 15
ACL Live at Moody Theater [Member]
Business Acquisition [Line Items]
Seat capacity | item	2,750
W Austin Hotel [Member]
Business Acquisition [Line Items]
Number of hotel rooms | item	251
Three TEN at ACL Live club [Member]
Business Acquisition [Line Items]
Seat capacity | item	350
Class A Commercial Space [Member]
Business Acquisition [Line Items]
Net rentable area, commercial space | ft²	53,000

Basis of Presentation - Covid 1

Basis of Presentation - Covid 19 (Details) $ / shares in Units, $ in Thousands	Mar. 17, 2020USD ($)	Mar. 31, 2020USD ($)item	Mar. 31, 2019USD ($)	Apr. 23, 2020$ / shares	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Number of weeks employee severance compensation paid | item		1
Amounts drawn		$ 400,000	$ 10,000
Cash and cash equivalents - unrestricted		662,156	$ 94,873		$ 362,430
Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amounts drawn	$ 400,000
Maximum borrowing capacity		700,000
Remaining borrowing capacity		$ 299,100
Subsequent event
Debt Instrument [Line Items]
Dividends permitted amount per quarter | $ / shares				$ 0.01
Subsequent event | Sixth Amended And Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Dividends permitted amount per quarter | $ / shares				$ 0.01

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 313,030	$ 370,775
Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	106,128	132,212
Hotel Group Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	82,711	102,692
Hotel Transient Rooms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	23,417	29,520
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	145,750	171,143
Hotel Food And Beverage Banquets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	108,170	126,196
Hotel Food And Beverage Outlets [Member]
Disaggregation of Revenue [Line Items]
Total revenues	37,580	44,947
Hotel, Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	33,793	34,155
Entertainment [Member]
Disaggregation of Revenue [Line Items]
Total revenues	27,359	33,265
Entertainment Admissions And Ticketing [Member]
Disaggregation of Revenue [Line Items]
Total revenues	10,281	13,623
Entertainment Food And Beverage [Member]
Disaggregation of Revenue [Line Items]
Total revenues	10,027	12,039
Entertainment Retail And Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 7,051	$ 7,603

Revenues - Hospitality Segment

Revenues - Hospitality Segment Revenues Disaggregated by Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 313,030	$ 370,775
Hospitality [Member]
Disaggregation of Revenue [Line Items]
Total revenues	285,671	337,510
Hospitality [Member] | Gaylord Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	76,127	88,958
Hospitality [Member] | Gaylord Palms [Member]
Disaggregation of Revenue [Line Items]
Total revenues	45,375	59,917
Hospitality [Member] | Gaylord Texan [Member]
Disaggregation of Revenue [Line Items]
Total revenues	55,996	72,039
Hospitality [Member] | Gaylord National [Member]
Disaggregation of Revenue [Line Items]
Total revenues	49,394	65,630
Hospitality [Member] | Gaylord Rockies [Member]
Disaggregation of Revenue [Line Items]
Total revenues	54,598	45,243
Hospitality [Member] | AC Hotel [Member]
Disaggregation of Revenue [Line Items]
Total revenues	1,849	2,435
Hospitality [Member] | Inn at Opryland [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,332	$ 3,288

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Contract with Customer, Liability [Abstract]
Deferred revenues	$ 77.7	$ 76.7
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 43.3

Income Per Share (Details)

Income Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average shares outstanding - basic (in shares)	54,911	51,349
Effect of dilutive stock-based compensation (in shares)		215
Effect of dilutive put rights (in shares)		385
Net income available to common stockholders - assuming dilution (in shares)	54,911	51,949

Income Per Share - Additional I

Income Per Share - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020shares
Stock-based compensation
INCOME PER SHARE
Anti dilutive securities excluded from EPS computation	141,000
Put rights
INCOME PER SHARE
Anti dilutive securities excluded from EPS computation	538,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 644,729
Other Comprehensive Income (Loss), Net of Tax	(37,437)	$ 109
Ending balance	560,021
ASU 2016-13 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit and Translation adjustment related to adoption of ASU	(3,185)
Interest Rate Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	1,634
Losses (gains) arising during period	(35,947)
Amounts reclassified from accumulated other comprehensive loss	(452)
Net other comprehensive income	(36,399)
Ending balance	(34,765)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(23,916)	(21,814)
Losses (gains) arising during period	(1,107)
Amounts reclassified from accumulated other comprehensive loss	17	20
Income tax benefit		(6)
Net other comprehensive income	(1,090)	26
Ending balance	(25,006)	(24,495)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit and Translation adjustment related to adoption of ASU		(2,707)
Accumulated Other-than-Temporary Impairment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(5,877)	(6,210)
Amounts reclassified from accumulated other comprehensive loss	52	83
Net other comprehensive income	52	83
Ending balance	(3,667)	(6,127)
Accumulated Other-than-Temporary Impairment Attributable to Parent [Member] | ASU 2016-13 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit and Translation adjustment related to adoption of ASU	2,158
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(28,159)	(28,024)
Losses (gains) arising during period	(37,054)
Amounts reclassified from accumulated other comprehensive loss	(383)	103
Income tax benefit		(6)
Net other comprehensive income	(37,437)	109
Other Comprehensive Income (Loss), Net of Tax	(37,437)	109
Ending balance	(63,438)	(30,622)
AOCI Attributable to Parent [Member] | ASU 2016-13 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit and Translation adjustment related to adoption of ASU	$ 2,158
AOCI Attributable to Parent [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit and Translation adjustment related to adoption of ASU		$ (2,707)

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Right-of-use finance lease assets	$ 1,613	$ 1,613
Property and equipment, gross	4,866,940	4,834,537
Accumulated depreciation	(1,736,963)	(1,704,285)
Property and equipment, net	3,129,977	3,130,252
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	350,993	349,024
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,441,389	3,432,136
Furniture, fixtures and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	969,130	968,858
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103,815	$ 82,906

Notes Receivable - General Info

Notes Receivable - General Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values	$ 99,900		$ 110,135
Retained earnings	(545,104)		(495,514)
Credit loss	$ 5,828
ASU 2016-13 [Member] | Restatement Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained earnings		$ (5,300)
Bonds A Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Jul. 1, 2034
Bonds B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity date of notes receivable	Sep. 1, 2037
Credit loss	$ 5,828
Bonds B Series [Member] | ASU 2016-13 [Member] | Restatement Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained earnings		$ (5,200)
Bonds A and B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Aggregate carrying values	99,900		110,100
Credit loss reserve	$ 11,000		$ 0

Notes Receivable - Interest Inc

Notes Receivable - Interest Income and Payments Received (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 2,371	$ 2,908
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	1,500	2,600
Payment received relating to notes receivables	2,900	$ 3,000
Bonds A and B Series [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 39,000		$ 38,200

Debt - Debt and Capital Lease O

Debt - Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Finance lease obligations	$ 1,249	$ 1,308
Total debt	2,951,888	2,559,968
Line of Credit [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	391,874
Secured Debt [Member] | $200 Million Term Loan A [Member]
Debt Instrument [Line Items]
Long-term debt	297,630	297,522
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Long-term debt	380,732	381,749
Secured Debt [Member] | $800M Term Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Long-term debt	792,517	791,985
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	397,008	396,778
Senior Notes [Member] | $700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Long-term debt	690,900
Senior Notes [Member] | $500 Million 4.75% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 690,878	$ 690,626

Debt - Summary of Debt and Capi

Debt - Summary of Debt and Capital Lease Obligations - General Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
$400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 400,000,000
$800M Term Loan (Gaylord Rockies JV) [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.50%
Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000,000
Credit facility, maturity date	Mar. 31, 2024
Unamortized deferred financing costs	$ 8,126,000	$ 0
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]
Credit facility, maturity date	May 31, 2025
Unamortized deferred financing costs	$ 2,370,000	2,478,000
Secured Debt [Member] | $200 Million Term Loan A [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	1.50%
Secured Debt [Member] | $300 Million Term Loan A [Member]
Debt Instrument [Line Items]
Face amount	$ 300,000,000	300,000,000
Secured Debt [Member] | $500 Million Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 500,000,000	500,000,000
Credit facility, maturity date	May 11, 2024
Unamortized deferred financing costs	$ 4,268,000	$ 4,501,000
Percentage of amortization of original principal balance (as a percent)	1.00%	1.00%
Secured Debt [Member] | $500 Million Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.00%
Secured Debt [Member] | $800M Term Loan (Gaylord Rockies JV) [Member]
Debt Instrument [Line Items]
Face amount	$ 800,000,000	$ 800,000,000
Debt instrument, maturity date	Jul. 2, 2023
Unamortized deferred financing costs	$ 7,483,000	8,015,000
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 400,000,000	400,000,000
Stated interest rate (as a percent)	5.00%
Debt instrument, maturity date	Apr. 15, 2023
Unamortized deferred financing costs	$ 2,992,000	3,222,000
Senior Notes [Member] | $700 Million 4.75% Senior Note [Member]
Debt Instrument [Line Items]
Face amount	$ 700,000,000	700,000,000
Stated interest rate (as a percent)	4.75%
Unamortized premium	$ 2,367,000	2,434,000
Senior Notes [Member] | $500 Million 4.75% Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%
Debt instrument, maturity date	Oct. 15, 2027
Unamortized deferred financing costs	$ 11,489,000	$ 11,808,000

Debt - $800 Million Term Loan (

Debt - $800 Million Term Loan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Purchase price	$ 3,090	$ 102
Gaylord Rockies [Member]
Debt Instrument [Line Items]
Percentage of guarantee repayment of principal debt	10.00%
Equity interest (as a percent)	62.10%
$800M Term Loan (Gaylord Rockies JV) [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	2.50%
$700 Million Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000
Line of Credit [Member] | $700 Million Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000
Line of Credit [Member] | $700 Million Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread rate (as a percent)	1.55%

Debt - Derivative Financial Ins

Debt - Derivative Financial Instruments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ 29,358,000	$ 32,087,000
Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(35,947,000)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	(452,000)
Derivatives in Cash Flow Hedging | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Estimated reclassification from AOCI to interest expenses	13,600,000
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative liability	35,700,000
Termination value in case of breach of provisions	35,700,000
Interest rate swaps | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Estimated Fair Value Asset (Liability) Balance	(34,765,000)		$ 1,634,000
Amount of Gain (Loss) Recognized in OCI on Derivative	(35,947,000)
Interest rate swaps | Derivatives in Cash Flow Hedging | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Expense)	$ (452,000)
Gaylord Rockies [Member] | Interest rate swaps | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.65%
Derivative, maturity date	Aug. 1, 2022
Notional amount	$ 800,000,000
Estimated Fair Value Asset (Liability) Balance	$ (24,887,000)		(2,174,000)
Term Loan B | Derivative Instrument One Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B | Derivative Instrument One Term Loan B Maturing on May 11, 2023 [Member] | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (2,464,000)		959,000
Term Loan B | Derivative Instrument Two Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B | Derivative Instrument Two Term Loan B Maturing on May 11, 2023 [Member] | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (2,464,000)		959,000
Term Loan B | Derivative Instrument Three Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B | Derivative Instrument Three Term Loan B Maturing on May 11, 2023 [Member] | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2235%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	$ (2,464,000)		956,000
Term Loan B | Derivative Instrument Four Term Loan B Maturing on May 11, 2023 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, maturity date	May 11, 2023
Term Loan B | Derivative Instrument Four Term Loan B Maturing on May 11, 2023 [Member] | Derivatives in Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	1.2315%
Notional amount	$ 87,500,000
Estimated Fair Value Asset (Liability) Balance	(2,486,000)		934,000
$500 Million Term Loan B [Member] | Secured Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face amount	500,000,000		500,000,000
$800M Term Loan (Gaylord Rockies JV) [Member] | Secured Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face amount	$ 800,000,000		$ 800,000,000

Deferred Management Rights Pr_2

Deferred Management Rights Proceeds (Details) - USD ($) $ in Millions	Oct. 01, 2012	Mar. 31, 2020
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

Leases (Details)

Leases (Details)	3 Months Ended
	Mar. 31, 2020a
Ole Red [Member] | Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	5 years
Operating lease, renewal term	5 years
Ole Red [Member] | Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, term of lease	10 years
Operating lease, renewal term	55 years
Land in Osceola County, Florida [Member]
Lessee, Lease, Description [Line Items]
Area of leased property	65.3
Lease expiration year	2074
Expiration date of lease under extension	Jan. 31, 2101

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases
Operating lease cost	$ 3,287	$ 3,346
Finance lease cost:
Amortization of right-of-use assets	37	41
Interest on lease liabilities	13	17
Net lease cost	$ 3,337	$ 3,404

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating Lease Liabilities, Payments Due [Abstract]
Year 1	$ 6,417
Year 2	6,147
Year 3	6,039
Year 4	6,006
Year 5	5,827
Years thereafter	572,754
Total future minimum lease payments	603,190
Less amount representing interest	(496,265)
Total present value of minimum payments	106,925	$ 106,331
Finance Lease Liabilities, Payments, Due [Abstract]
Year 1	260
Year 2	255
Year 3	232
Year 4	153
Year 5	46
Years thereafter	602
Total future minimum lease payments	1,548
Less amount representing interest	(299)
Total present value of minimum payments	$ 1,249	$ 1,308

Leases - Discount Rate (Details

Leases - Discount Rate (Details)	Mar. 31, 2020
Weighted-average remaining lease term (years):
Operating leases	50 years 4 months 24 days
Finance leases	10 years 1 month 6 days
Operating leases	6.80%
Finance leases	4.00%

Stock Plans - Restricted Stock

Stock Plans - Restricted Stock Units - Weighted-Average Grant Date Fair Value of Units Granted (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted stock award granted by Company (in shares)	0.1
Weighted-average grant-date fair value of restricted stock awards granted (in dollars per share)	$ 92.31
Restricted stock award, outstanding (in shares)	0.4	0.3

Stock Plans - Compensation Expe

Stock Plans - Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Plans
Compensation cost on stock-based compensation plans	$ 2.2	$ 2

Pension and Postretirement Be_3

Pension and Postretirement Benefits Other Than Pension Plans - Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension Plan [Member] | Qualified Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 676	$ 878
Expected return on plan assets	(1,055)	(944)
Amortization of net actuarial loss	282	287
Total net periodic benefit cost (credit)	(97)	221
Postretirement Health Coverage [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	17	25
Amortization of net actuarial loss	63	61
Amortization of prior service credit	(328)	(328)
Total net periodic benefit cost (credit)	$ (248)	$ (242)

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Provision for income taxes	$ 26,799	$ 1,974
Valuation allowance	26,700
Current Income Tax Expense (Benefit)	100
Unrecognized tax benefits	$ 0		$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Schedule of Equity Method Investments [Line Items]
Capital contribution		$ 3,090	$ 102
New Country Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)	50.00%
Capital contribution	$ 7,000
Additional possible contribution	$ 8,000
Circle [Member]
Schedule of Equity Method Investments [Line Items]
Equity interest (as a percent)		50.00%

Stockholders' Equity - Dividend

Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Apr. 23, 2020
Subsidiary or Equity Method Investee [Line Items]
Dividend amount for current period (in dollars per share)	$ 0.95	$ 0.90
Aggregated dividend paid	$ 52.2
Dividend payable date declared	Feb. 25, 2020
Common stock Dividend Payable Date	Apr. 15, 2020
Dividend payable date of record	Mar. 31, 2020
Subsequent event
Subsidiary or Equity Method Investee [Line Items]
Dividends permitted amount per quarter			$ 0.01
Subsequent event | Sixth Amended And Restated Credit Agreement [Member]
Subsidiary or Equity Method Investee [Line Items]
Dividends permitted amount per quarter			$ 0.01

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 25,940	$ 29,174
Total assets measured at fair value	25,940	32,982
Total liabilities measured at fair value	34,765	2,174
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			$ 3,808
Total liabilities measured at fair value	34,765		2,174
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	25,940	29,174
Total assets measured at fair value	25,940	29,174
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		3,808
Total liabilities measured at fair value	34,765	$ 2,174
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			3,808
Total liabilities measured at fair value	$ 34,765		$ 2,174

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
$400 Million 5% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 400,000,000
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)	5.00%
Debt amount	$ 397,008,000	396,778,000
Fair value of notes	316,100,000
Senior Notes [Member] | $700 Million 4.75% Senior Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount	$ 700,000,000	$ 700,000,000
Stated interest rate (as a percent)	4.75%
Debt amount	$ 690,900,000
Fair value of notes	$ 524,000,000

Financial Reporting By Busine_3

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

Financial Reporting By Busine_4

Financial Reporting By Business Segments - Internal Financial Reports (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	$ 313,030	$ 370,775
Depreciation and amortization	53,345	53,009
Preopening costs	(801)	(2,134)
Gain on sale of assets	1,261
Credit loss on held-to-maturity securities	(5,828)
Operating income	4,750	53,964
Interest expense	(29,358)	(32,087)
Interest income	2,371	2,908
Loss from unconsolidated joint ventures	(1,895)
Income (loss) before income taxes	(23,937)	24,644
Hospitality [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	285,671	337,510
Depreciation and amortization	49,769	50,133
Preopening costs	(100)	(700)
Operating income	23,817	60,354
Entertainment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenues	27,359	33,265
Depreciation and amortization	3,105	2,479
Preopening costs	(700)	(1,400)
Operating income	(5,092)	5,145
Corporate and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Depreciation and amortization	471	397
Operating income	(8,607)	(9,401)
Notes Receivable [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Interest income	1,500	$ 2,600
Bonds B Series [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Credit loss on held-to-maturity securities	$ (5,828)

Financial Reporting By Busine_5

Financial Reporting By Business Segments - Identifiable Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Preopening costs	$ 801	$ 2,134
Identifiable assets	4,344,802		$ 4,088,468
Hospitality [Member]
Segment Reporting Information [Line Items]
Preopening costs	100	700
Identifiable assets	3,462,739		3,494,084
Entertainment [Member]
Segment Reporting Information [Line Items]
Preopening costs	700	$ 1,400
Identifiable assets	192,696		181,036
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Identifiable assets	$ 689,367		$ 413,348

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020	Dec. 31, 2019
Sixth Amended And Restated Credit Agreement [Member]
Subsequent Events
Minimum liquidity maintenance		$ 100
Revolving Credit Facility [Member] | $700 Million Revolving Credit Facility [Member]
Subsequent Events
Remaining borrowing capacity	$ 299.1
Line of Credit [Member] | Revolving Credit Facility [Member] | Sixth Amended And Restated Credit Agreement [Member] | Subsequent event | $700 Million Revolving Credit Facility [Member]
Subsequent Events
Remaining borrowing capacity		$ 300
Secured Debt [Member] | $800M Term Loan (Gaylord Rockies JV) [Member]
Subsequent Events
Face amount	$ 800		$ 800
Debt instrument, maturity date	Jul. 2, 2023

Information Concerning Guaran_3

Information Concerning Guarantor and Non-Guarantor Subsidiaries - General Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)entity	Dec. 31, 2019USD ($)
Condensed Financial Statements, Captions [Line Items]
Number of wholly-owned subsidiaries | entity	4
Ownership percentage in subsidiaries (as a percent)	100.00%
$400 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 400,000,000
Senior Notes [Member] | $400 Million 5% Senior Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate (as a percent)	5.00%
Senior Notes [Member] | $700 Million 4.75% Senior Notes
Condensed Financial Statements, Captions [Line Items]
Face amount	$ 700,000,000
Stated interest rate (as a percent)	4.75%

Information Concerning Guaran_4

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
ASSETS:
Property and equipment, net of accumulated depreciation	$ 3,129,977	$ 3,130,252
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	662,156	362,430	$ 94,873
Cash and cash equivalents - restricted	64,501	57,966	$ 51,943
Notes receivable	99,900	110,135
Trade receivables, less allowance	78,952	70,768
Deferred income tax assets, net		25,959
Prepaid expenses and other assets	112,236	123,845
Intangible assets	197,080	207,113
Total assets	4,344,802	4,088,468
LIABILITIES AND EQUITY:
Debt and finance lease obligations	2,951,888	2,559,968
Accounts payable and accrued liabilities	240,313	264,915
Dividends payable	53,037	50,711
Deferred management rights proceeds	174,558	175,332
Operating lease liabilities	106,925	106,331
Deferred income tax liabilities, net	600
Other liabilities (including $24,887 and $2,174 from VIEs, respectively)	94,434	64,971
Total liabilities	3,621,755	3,222,228
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	163,026	221,511
Stockholders' equity:
Preferred stock
Common stock	550	549
Additional paid-in-capital	1,185,885	1,185,168
Treasury stock	(17,872)	(17,315)
Accumulated deficit	(545,104)	(495,514)
Accumulated other comprehensive loss	(63,438)	(28,159)
Total stockholders' equity	560,021	644,729
Total liabilities and equity	4,344,802	4,088,468
Reportable Legal Entities [Member] | Parent Company [Member]
ASSETS:
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	22	29
Investments	953,898	1,050,955
Total assets	953,920	1,050,984
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	62	50
Dividends payable	53,037	50,711
Intercompany payables, net	340,800	355,494
Total liabilities	393,899	406,255
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	550	549
Additional paid-in-capital	1,185,885	1,185,168
Treasury stock	(17,872)	(17,315)
Accumulated deficit	(545,104)	(495,514)
Accumulated other comprehensive loss	(63,438)	(28,159)
Total stockholders' equity	560,021	644,729
Total liabilities and equity	953,920	1,050,984
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
ASSETS:
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	583,352	200,534
Prepaid expenses and other assets	58	12,390
Investments	2,949,445	2,949,445
Total assets	3,532,855	3,162,369
LIABILITIES AND EQUITY:
Debt and finance lease obligations	2,158,122	1,766,675
Accounts payable and accrued liabilities	27,401	13,738
Other liabilities (including $24,887 and $2,174 from VIEs, respectively)	9,878
Intercompany payables, net	1,553,804	1,514,770
Total liabilities	3,749,205	3,295,183
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	266,031	315,680
Accumulated deficit	(472,504)	(452,303)
Accumulated other comprehensive loss	(9,878)	3,808
Total stockholders' equity	(216,350)	(132,814)
Total liabilities and equity	3,532,855	3,162,369
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,641,355	1,632,744
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	48	3
Deferred income tax assets, net		(413)
Prepaid expenses and other assets	26	3
Intercompany receivables, net	2,142,311	2,113,481
Investments	708,341	708,588
Total assets	4,492,081	4,454,406
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	9,247	6,996
Operating lease liabilities	105,877	104,742
Deferred income tax liabilities, net	413
Total liabilities	115,537	111,738
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	1	1
Additional paid-in-capital	2,894,831	2,894,830
Accumulated deficit	1,481,712	1,447,837
Total stockholders' equity	4,376,544	4,342,668
Total liabilities and equity	4,492,081	4,454,406
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS:
Property and equipment, net of accumulated depreciation	1,488,622	1,497,508
Cash and cash equivalents - unrestricted (including $22,072 and $33,772 from VIEs, respectively)	78,734	161,864
Cash and cash equivalents - restricted	64,501	57,966
Notes receivable	99,900	110,135
Trade receivables, less allowance	78,952	70,768
Deferred income tax assets, net		26,372
Prepaid expenses and other assets	126,170	118,301
Intangible assets	197,080	207,113
Investments	2,040,163	2,077,984
Total assets	4,174,122	4,328,011
LIABILITIES AND EQUITY:
Debt and finance lease obligations	793,766	793,293
Accounts payable and accrued liabilities	210,829	244,734
Deferred management rights proceeds	174,558	175,332
Operating lease liabilities	7,840	7,835
Deferred income tax liabilities, net	187
Other liabilities (including $24,887 and $2,174 from VIEs, respectively)	84,556	64,971
Intercompany payables, net	247,707	243,217
Total liabilities	1,519,443	1,529,382
Commitments and contingencies
Noncontrolling interest in consolidated joint venture	163,026	221,511
Stockholders' equity:
Preferred stock
Common stock	2,387	2,387
Additional paid-in-capital	2,843,451	2,843,450
Accumulated deficit	(300,625)	(236,752)
Accumulated other comprehensive loss	(53,560)	(31,967)
Total stockholders' equity	2,491,653	2,577,118
Total liabilities and equity	4,174,122	4,328,011
Consolidation, Eliminations [Member]
ASSETS:
Prepaid expenses and other assets	(14,018)	(6,849)
Intercompany receivables, net	(2,142,311)	(2,113,481)
Investments	(6,651,847)	(6,786,972)
Total assets	(8,808,176)	(8,907,302)
LIABILITIES AND EQUITY:
Accounts payable and accrued liabilities	(7,226)	(603)
Operating lease liabilities	(6,792)	(6,246)
Intercompany payables, net	(2,142,311)	(2,113,481)
Total liabilities	(2,156,329)	(2,120,330)
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock	(2,389)	(2,389)
Additional paid-in-capital	(6,004,313)	(6,053,960)
Accumulated deficit	(708,583)	(758,782)
Accumulated other comprehensive loss	63,438	28,159
Total stockholders' equity	(6,651,847)	(6,786,972)
Total liabilities and equity	$ (8,808,176)	$ (8,907,302)

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
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenues	$ 313,030	$ 370,775
Operating expenses:
Total hotel operating expenses	212,085	227,023
Corporate	8,136	9,004
Preopening costs	801	2,134
Gain on sale of assets	(1,261)
Credit loss on held-to-maturity securities	5,828
Depreciation and amortization	53,345	53,009
Total operating expenses	308,280	316,811
Operating income	4,750	53,964
Interest expense	(29,358)	(32,087)
Interest income	2,371	2,908
Loss from unconsolidated joint ventures	(1,895)
Other gains and (losses), net	195	(141)
Income (loss) before income taxes	(23,937)	24,644
Provision for income taxes	(26,799)	(1,974)
Net income (loss)	(50,736)	22,670
Comprehensive income (loss), net of taxes	(88,173)	22,779
Net income (loss)	(46,516)	29,408
Comprehensive income (loss)	(75,344)	29,517
Rooms [Member]
Revenues:
Total revenues	106,128	132,212
Operating expenses:
Total hotel operating expenses	32,308	34,969
Food and Beverage [Member]
Revenues:
Total revenues	145,750	171,143
Operating expenses:
Total hotel operating expenses	83,811	91,359
Hotel, Other [Member]
Revenues:
Total revenues	33,793	34,155
Operating expenses:
Total hotel operating expenses	90,474	90,939
Management Fees [Member]
Operating expenses:
Total hotel operating expenses	5,492	9,756
Entertainment [Member]
Revenues:
Total revenues	27,359	33,265
Operating expenses:
Total hotel operating expenses	29,346	25,641
Reportable Legal Entities [Member] | Parent Company [Member]
Operating expenses:
Corporate	63	63
Corporate overhead allocation	979	997
Total operating expenses	1,042	1,060
Operating income	(1,042)	(1,060)
Income (loss) before income taxes	(1,042)	(1,060)
Equity in subsidiaries' losses, net	(49,694)	23,730
Net income (loss)	(50,736)	22,670
Comprehensive income (loss), net of taxes	(88,173)	22,779
Net income (loss)	(46,516)	29,408
Comprehensive income (loss)	(75,344)	29,517
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Operating expenses:
Corporate	376	451
Total operating expenses	376	451
Operating income	(376)	(451)
Interest expense	(20,401)	(23,839)
Interest income	576	8
Income (loss) before income taxes	(20,201)	(24,282)
Net income (loss)	(20,201)	(24,282)
Comprehensive income (loss), net of taxes	(33,887)	(24,282)
Net income (loss)	(20,201)	(24,282)
Comprehensive income (loss)	(33,887)	(24,282)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Total revenues	64,741	80,410
Operating expenses:
Total hotel operating expenses	12,442	12,052
Corporate	1	1
Corporate overhead allocation	2,107	3,058
Depreciation and amortization	16,316	16,250
Total operating expenses	30,866	31,361
Operating income	33,875	49,049
Income (loss) before income taxes	33,875	49,049
Provision for income taxes		(38)
Net income (loss)	33,875	49,011
Comprehensive income (loss), net of taxes	33,875	49,011
Net income (loss)	33,875	49,011
Comprehensive income (loss)	33,875	49,011
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Hotel, Other [Member]
Revenues:
Total revenues	64,741	80,410
Operating expenses:
Total hotel operating expenses	12,442	12,052
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Revenues:
Total revenues	328,410	385,568
Operating expenses:
Total hotel operating expenses	276,678	306,066
Corporate	7,696	8,489
Preopening costs	801	2,134
Gain on sale of assets	(1,261)
Depreciation and amortization	37,029	36,759
Total operating expenses	356,117	379,142
Operating income	(27,707)	6,426
Interest expense	(9,008)	(8,354)
Interest income	1,846	3,006
Loss from unconsolidated joint ventures	(1,895)
Other gains and (losses), net	195	(141)
Income (loss) before income taxes	(36,569)	937
Provision for income taxes	(26,799)	(1,936)
Net income (loss)	(63,368)	(999)
Comprehensive income (loss), net of taxes	(87,119)	(890)
Net income (loss)	(63,368)	(999)
Comprehensive income (loss)	(74,290)	(890)
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Rooms [Member]
Revenues:
Total revenues	106,128	132,212
Operating expenses:
Total hotel operating expenses	32,308	34,969
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Food and Beverage [Member]
Revenues:
Total revenues	145,750	171,143
Operating expenses:
Total hotel operating expenses	83,811	91,359
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Hotel, Other [Member]
Revenues:
Total revenues	48,634	48,424
Operating expenses:
Total hotel operating expenses	155,067	169,982
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Management Fees [Member]
Operating expenses:
Total hotel operating expenses	5,492	9,756
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Entertainment [Member]
Revenues:
Total revenues	27,898	33,789
Operating expenses:
Total hotel operating expenses	29,346	25,694
Consolidation, Eliminations [Member]
Revenues:
Total revenues	(80,121)	(95,203)
Operating expenses:
Total hotel operating expenses	(77,035)	(91,095)
Corporate overhead allocation	(3,086)	(4,055)
Total operating expenses	(80,121)	(95,203)
Interest expense	51	106
Interest income	(51)	(106)
Equity in subsidiaries' losses, net	49,694	(23,730)
Net income (loss)	49,694	(23,730)
Comprehensive income (loss), net of taxes	87,131	(23,839)
Net income (loss)	49,694	(23,730)
Comprehensive income (loss)	74,302	(23,839)
Consolidation, Eliminations [Member] | Hotel, Other [Member]
Revenues:
Total revenues	(79,582)	(94,679)
Operating expenses:
Total hotel operating expenses	(77,035)	(91,095)
Consolidation, Eliminations [Member] | Entertainment [Member]
Revenues:
Total revenues	(539)	(524)
Operating expenses:
Total hotel operating expenses		(53)
Notes Receivable [Member]
Operating expenses:
Interest income	1,500	$ 2,600
Bonds B Series [Member]
Operating expenses:
Credit loss on held-to-maturity securities	5,828
Bonds B Series [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Operating expenses:
Credit loss on held-to-maturity securities	$ 5,828

Information Concerning Guaran_6

Information Concerning Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	$ 4,671	$ 54,560
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(43,168)	(48,873)
Investment in other joint ventures	(3,090)	(102)
Other investing activities	1,004	(127)
Net cash used in investing activities	(45,254)	(49,102)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings under revolving credit facility	400,000	10,000
Deferred financing costs paid	(106)
Payment of dividends	(50,078)	(44,420)
Payment of tax withholdings for share-based compensation	(1,631)	(3,813)
Other financing activities	(91)	1,605
Net cash flows used in financing activities	346,844	(7,731)
Net change in cash, cash equivalents, and restricted cash	306,261	(2,273)
Cash, cash equivalents, and restricted cash, beginning of period	420,396	149,089
Cash, cash equivalents, and restricted cash, end of period	726,657	146,816
Gaylord Rockies [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		28,897
Term Loan B
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments under term loan B	(1,250)
Reportable Legal Entities [Member] | Parent Company [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	51,733	48,198
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payment of dividends	(50,078)	(44,420)
Payment of tax withholdings for share-based compensation	(1,631)	(3,813)
Other financing activities	(31)
Net cash flows used in financing activities	(51,740)	(48,233)
Net change in cash, cash equivalents, and restricted cash	(7)	(35)
Cash, cash equivalents, and restricted cash, beginning of period	29	81
Cash, cash equivalents, and restricted cash, end of period	22	46
Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	(15,826)	(8,415)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net borrowings under revolving credit facility	400,000	10,000
Deferred financing costs paid	(106)
Net cash flows used in financing activities	398,644	10,000
Net change in cash, cash equivalents, and restricted cash	382,818	1,585
Cash, cash equivalents, and restricted cash, beginning of period	200,534	657
Cash, cash equivalents, and restricted cash, end of period	583,352	2,242
Reportable Legal Entities [Member] | Subsidiary Issuer [Member] | Term Loan B
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments under term loan B	(1,250)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	23,063	7,077
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(23,018)	(7,083)
Net cash used in investing activities	(23,018)	(7,083)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Net change in cash, cash equivalents, and restricted cash	45	(6)
Cash, cash equivalents, and restricted cash, beginning of period	3	54
Cash, cash equivalents, and restricted cash, end of period	48	48
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net cash provided by (used in) operating activities	(54,299)	7,700
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchases of property and equipment	(20,150)	(41,790)
Investment in other joint ventures	(3,090)	(102)
Other investing activities	1,004	(127)
Net cash used in investing activities	(22,236)	(42,019)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Other financing activities	(60)	1,605
Net cash flows used in financing activities	(60)	30,502
Net change in cash, cash equivalents, and restricted cash	(76,595)	(3,817)
Cash, cash equivalents, and restricted cash, beginning of period	219,830	148,297
Cash, cash equivalents, and restricted cash, end of period	$ 143,235	144,480
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Gaylord Rockies [Member]
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under term loan		$ 28,897