Revenues

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Hotel group rooms	$	153	$	106,068	$	82,864	$	208,760
Hotel transient rooms		2,649		38,636		26,066		68,156
Hotel food and beverage - banquets		81		123,521		108,251		249,717
Hotel food and beverage - outlets		1,429		49,509		39,009		94,456
Hotel other		5,993		39,395		39,786		73,550
Entertainment admissions/ticketing		486		21,960		10,767		35,583
Entertainment food and beverage		1,499		17,848		11,526		29,887
Entertainment retail and other		2,391		10,782		9,442		18,385
Total revenues	$	14,681	$	407,719	$	327,711	$	778,494

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Gaylord Opryland	$	1,320	$	98,987	$	77,447	$	187,945
Gaylord Palms		814		47,357		46,189		107,273
Gaylord Texan		5,472		69,326		61,468		141,365
Gaylord National		529		78,128		49,923		143,758
Gaylord Rockies		1,806		55,436		56,404		100,679
AC Hotel		146		3,314		1,995		5,749
Inn at Opryland and other		218		4,581		2,550		7,870
Total Hospitality segment revenues	$	10,305	$	357,129	$	295,976	$	694,639

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 June 30, 2020 and December 31, 2019, the Company had $57.4 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 $44.0 million was recognized in revenue during the six months ended June 30, 2020.