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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income (loss) $ 341,800 $ 134,948 $ (194,801)
Amounts to reconcile net income (loss) to net cash flows provided by operating activities:      
Provision (benefit) for deferred income taxes (95,825) 8,244 4,006
Depreciation and amortization 211,227 208,616 220,357
Amortization of deferred financing costs 10,663 9,829 8,790
Loss from unconsolidated joint ventures 17,308 10,967 8,963
Stock-based compensation expense 15,421 14,985 12,104
Changes in:      
Trade receivables 21,550 (40,686) (54,639)
Accounts payable and accrued liabilities 41,520 66,428 107,012
Other assets and liabilities (6,608) 6,600 (539)
Net cash flows provided by operating activities 557,056 419,931 111,253
Cash Flows from Investing Activities:      
Purchases of property and equipment (206,776) (89,520) (77,426)
Collection of notes receivable 5,903 3,718 844
Other investing activities, net (9,977) 481 5,344
Net cash flows used in investing activities (1,012,816) (189,313) (289,738)
Cash Flows from Financing Activities:      
Net borrowings (repayments) under revolving credit facility   (190,000) 84,000
Issuance of senior notes 400,000   600,000
Redemption of senior notes     (400,000)
Deferred financing costs paid (23,400) (15,411) (10,628)
Issuance of common stock, net 395,444    
Redemption of noncontrolling interest in Operating Partnership     (2,438)
Sale of noncontrolling interest in OEG   285,925  
Payments of distributions (176,001) (5,855) (502)
Payment of tax withholdings for share-based compensation (4,386) (4,478) (3,485)
Other financing activities, net (271) (199) (216)
Net cash flows provided by financing activities 711,871 50,712 261,731
Net change in cash, cash equivalents, and restricted cash 256,111 281,330 83,246
Cash, cash equivalents, and restricted cash, beginning of year 444,330 163,000 79,754
Cash, cash equivalents, and restricted cash, end of year 700,441 444,330 163,000
JW Marriott Hill Country [Member]      
Cash Flows from Investing Activities:      
Purchase, net of cash acquired (791,466)    
Block 21 [Member]      
Cash Flows from Investing Activities:      
Purchase, net of cash acquired   (93,992)  
$300 Million Term Loan A [Member]      
Cash Flows from Financing Activities:      
Repayments under loan   (300,000)  
$500 Million Term Loan B [Member]      
Cash Flows from Financing Activities:      
Borrowings under term loan 500,000    
Repayments under loan (378,750) (5,000) (5,000)
$300M OEG Term Loan [Member]      
Cash Flows from Financing Activities:      
Borrowings under term loan   288,000  
Repayments under loan (3,000) (750)  
$65M OEG Revolver [Member]      
Cash Flows from Financing Activities:      
Net borrowings (repayments) under revolving credit facility 5,000    
Block 21 CMBS Loan [Member]      
Cash Flows from Financing Activities:      
Repayments under loan (2,765) (1,520)  
Gaylord Rockies [Member]      
Cash Flows from Investing Activities:      
Purchase of land adjacent to Gaylord Rockies     (22,000)
Purchase of additional interest / Investment in other joint ventures     (188,000)
Circle [Member]      
Amounts to reconcile net income (loss) to net cash flows provided by operating activities:      
Loss from unconsolidated joint ventures 10,500    
Cash Flows from Investing Activities:      
Purchase of additional interest / Investment in other joint ventures $ (10,500) $ (10,000) $ (8,500)