{"id":2816,"date":"2021-05-21T04:15:52","date_gmt":"2021-05-21T09:15:52","guid":{"rendered":"https:\/\/1reason.com\/re\/ryman-hospitality-properties-inc-reports-first-quarter-2021-results\/2816\/"},"modified":"2021-05-21T23:15:53","modified_gmt":"2021-05-22T04:15:53","slug":"ryman-hospitality-properties-inc-reports-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/ryman-hospitality-properties-inc-reports-first-quarter-2021-results\/2816\/","title":{"rendered":"Ryman Hospitality Properties, Inc. Reports First Quarter 2021 Results"},"content":{"rendered":"<div> (NYSE: RHP), a lodging real estate investment trust (\u201cREIT\u201d) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the first quarter ended March 31, 2021.      <\/p>\n<p align=\"justify\"><strong>First Quarter 2021 Highlights and Recent Developments:<\/strong><\/p>\n<ul type=\"disc\">\n<li><em>Through the end of first quarter 2021, rebooked 1.6 million room nights, or approximately 60% of total room nights cancelled as a result of COVID-19 <\/em><\/li>\n<li><em>Average monthly cash burn for the first quarter of 2021 was approximately $17.9 million, better than the expected range of $23-26 million provided on 4Q-2020 earnings call <\/em><\/li>\n<li><em>Today announced an agreement to acquire the remaining 35% ownership interest in Gaylord Rockies JV along with approximately 130 acres of undeveloped, adjacent land for $210 million <\/em><\/li>\n<li><em>Subsequent to quarter\u2019s end, announced the anticipated July 1, 2021 reopening of Gaylord National <\/em><\/li>\n<li><em>Issued updated Investor Supplement including more detailed information on the announced Gaylord Rockies transaction and quarterly operating results, which can be found on the Investor Relations section of the website at <\/em><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=EMF5y1I7sfmf4PyFPJMWEnJrwQ0L9eMmBE2uVi7W_eX_dcAVotTHWmv-P3EGk2rQx1I4QCG8HjB3s_dnzKPElg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"\"><em>www.rymanhp.com<\/em><\/a><\/li>\n<\/ul>\n<p align=\"justify\">Colin Reed, Chairman and Chief Executive Officer of Ryman Hospitality Properties, said, \u201cI am very pleased with our performance this quarter and am encouraged by the steadily improving conditions for the travel industry. The United States vaccine rollout continues to progress, and we believe consumer confidence is growing. We are seeing increasing demand for our unique offerings, our conversations with meeting planners continue to be encouraging, and we are seeing fewer cancellations and continued rebooking activity.<\/p>\n<p align=\"justify\">\u201cIn light of this momentum and our positive long-term outlook on our business model, we are pleased to announce that we have reached an agreement to acquire the remaining 35% ownership interest in the Gaylord Rockies JV along with approximately 130 acres of undeveloped, adjacent land for $210 million. Despite having just one full year of results prior to COVID-19, we believe Gaylord Rockies is positioned to be a strong contributor to our future performance, and we are thrilled to take advantage of this tremendous opportunity.<\/p>\n<p align=\"justify\">\u201cWe were also pleased to have our resort pool enhancements at Gaylord Palms open in time for the Spring Break period and have received positive feedback from our guests. Our rooms and meeting space expansion was completed in April, and we look forward to hosting our first guests in the months ahead. Combined with our freshly refurbished room inventory at Gaylord National, which we anticipate completing prior to its July 1, 2021 reopening, we are in a prime position to welcome back groups across our portfolio.\u201d <\/p>\n<p align=\"justify\"><strong>First Quarter 2021 Results (As Compared to First Quarter 2020):<\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">($ in thousands, except per share amounts)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Total Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$84,175<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$313,030<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-73.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Operating Income\/(Loss) <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($79,557)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$4,750<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-1774.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-94.5%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">1.5%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-96.0pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Net (Loss) available to common shareholders<sup> (1)<\/sup> <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($104,521)<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($46,516)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-124.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Net (Loss) available to common shareholders margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-124.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-14.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-109.3pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Net (Loss) available to common shareholders per diluted share<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($1.90)<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($0.85)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-123.5%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($22,449)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$66,875<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-133.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-26.7%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">21.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-48.1pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em>, excluding noncontrolling interest in consolidated joint venture<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($21,705)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$59,169<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-136.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em>, excluding noncontrolling interest in consolidated joint venture margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-25.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">18.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-44.7pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Funds From Operations (FFO) available to common shareholders and unit holders<sup>(1)(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($59,965)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($1,760)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-3307.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">FFO available to common shareholders and unit holders per diluted share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($1.08)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($0.03)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-3500.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted FFO available to common shareholders and unit holders<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($50,505)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$32,430<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-255.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted FFO available to common shareholders and unit holders per diluted share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($0.91)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$0.59<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-254.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) For the three months ended March 31, 2020, includes approximately $5.8 million for credit losses on held-to-maturity securities.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(2) For the three months ended March 31, 2020, includes $26.7 million for income tax valuation allowances.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Note: For the Company\u2019s definitions of Adjusted EBITDAre, Adjusted EBITDAre margin, Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture, Adjusted EBITDAre, excluding noncontrolling interest in consolidated joint venture margin, FFO available to common shareholders and unit holders, and Adjusted FFO available to common shareholders and unit holders, as well as a reconciliation of the non-GAAP financial measure Adjusted EBITDAre to Net Income\/(Loss) and a reconciliation of the non-GAAP financial measure Adjusted FFO available to common shareholders and unit holders to Net Income\/(Loss), see \u201cNon-GAAP Financial Measures,\u201d \u201cEBITDAre, Adjusted EBITDAre and Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Ventures Definition,\u201d \u201cAdjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin Definition\u201d \u201cFFO, Adjusted FFO, and Adjusted FFO available to common shareholders and unit holders Definition\u201d and \u201cSupplemental Financial Results\u201d below.<\/p>\n<p align=\"justify\"><strong><u>Gaylord Rockies Acquisition<\/u><\/strong><\/p>\n<p align=\"justify\">Today the Company announced an agreement to acquire the remaining 35% ownership interest in the Gaylord Rockies joint venture along with approximately 130 acres of undeveloped, adjacent land for approximately $210 million. The all-in purchase price represents an approximate 7.0% to 7.5% capitalization rate on potential 2023E stabilized net operating income and a 12.5x to 13.0x forward multiple on potential 2023 estimated Adjusted EBITDAre. Excluding the purchase price for the land, the acquisition of the remaining 35% equates to an approximate 7.5% to 8.0% capitalization rate on potential 2023E stabilized net operating income and a 12.0x to 12.5x forward multiple on potential 2023 estimated Adjusted EBITDAre. Funding for the transaction will be a combination of cash on hand and additional borrowings from the Company\u2019s revolving credit facility. The Company expects the transaction to close in May 2021, subject to customary closing conditions. For more information on the transaction, please refer to the investor supplemental that was filed today and is located on the Investor Relations section of the Company website (https:\/\/ir.rymanhp.com\/events-and-presentations\/presentations). Information contained on or accessible through our website is not part of this press release and is therefore not incorporated by reference.<\/p>\n<p align=\"justify\"><strong><u>Hospitality Segment<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Hospitality Revenue <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$69,802<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$285,671<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-75.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Hospitality Operating Income\/(Loss) <sup>(1) (2)<\/sup> <sup>(5)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($63,543)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$19,143<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-431.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Hospitality Adjusted EBITDA<em>re <\/em><sup>(1)<\/sup> <sup>(5)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($11,889)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$76,164<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-115.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Hospitality Performance Metrics <sup>(1)<\/sup> <sup>(3)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">16.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">57.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-40.7pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Average Daily Rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$189.42<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$202.09<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-6.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$31.02<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$115.36<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-73.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$76.71<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$310.51<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-75.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Gross Definite Rooms Nights Booked<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> 441,170<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> 288,771<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">52.8%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Net Definite Rooms Nights Booked<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> (33,709)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> (415,754)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">91.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Group Attrition (as % of contracted block)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">42.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">37.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">4.5pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_middle\">Cancellations ITYFTY<sup> (4)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> 279,624<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\"> 559,448<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-50.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Gaylord National closed on March 25, 2020 and remained closed throughout first quarter 2021.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(2) For the three months ended March 31, 2020, includes approximately $5.8 million for credit losses on held-to-maturity securities.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(3) Calculation of hospitality performance metrics includes closed hotel room nights available. ADR is for occupied rooms.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(4) &#8220;ITYFTY&#8221; represents In The Year For The Year.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(5) Includes approximately $10.2 million in COVID-19 related costs for the three months ended March 31, 2020.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Note: For the Company\u2019s definitions of Revenue Per Available Room (RevPAR) and Total Revenue Per Available Room (Total RevPAR), see \u201cCalculation of RevPAR and Total RevPAR\u201d below. Property-level results and operating metrics for first quarter 2021 are presented in greater detail below and under \u201cSupplemental Financial Results\u2014Hospitality Segment Adjusted EBITDA<em>re<\/em> Reconciliations and Operating Metrics,\u201d which includes a reconciliation of the non-GAAP financial measures Hospitality Adjusted EBITDA<em>re<\/em> to Hospitality Operating Income\/(Loss), and property-level Adjusted EBITDA<em>re<\/em> to property-level Operating Income\/(Loss) for each of the hotel properties.<\/p>\n<p align=\"justify\"><strong>Hospitality Segment Highlights<\/strong><\/p>\n<ul type=\"disc\">\n<li><em>The Gaylord Palms room and meeting space expansion project was completed in April, on time and on budget. <\/em><\/li>\n<li><em>Subsequent to quarter\u2019s end, announced the anticipated reopening of Gaylord National on July 1, 2021.<\/em><\/li>\n<li><em>Occupancy at open hotels reached 20.4% in first quarter 2021.<\/em><\/li>\n<li><em>Open Gaylord hotels generated positive Adjusted EBITDA<\/em>re <em>in March 2021. <\/em><\/li>\n<li><em>Collected approximately $10.2 million in attrition and cancellation fees in first quarter 2021. <\/em><\/li>\n<li><em>Serviced approximately 27,000 group room nights in the first quarter 2021. <\/em><\/li>\n<\/ul>\n<p align=\"justify\"><strong><u>Gaylord Opryland<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$21,759<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$76,127<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-71.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($11,750)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$14,005<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-183.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-54.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">18.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-72.4pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($3,482)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$21,520<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-116.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-16.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">28.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-44.3pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">18.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">60.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-42.1pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$210.04<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$194.54<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">8.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$38.37<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$117.46<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-67.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$83.71<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$289.67<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-71.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Calculation of hospitality performance metrics includes closed hotel room nights available.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><\/p>\n<p align=\"justify\"><strong><u>Gaylord Palms<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$15,117<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$45,375<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-66.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($6,017)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$7,072<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-185.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-39.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">15.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-55.4pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($393)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$12,598<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-103.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-2.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">27.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-30.4pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">24.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">62.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-38.3pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$191.71<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$216.67<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-11.5%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$46.66<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$135.56<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-65.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$118.62<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$352.14<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-66.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Calculation of hospitality performance metrics includes closed hotel room nights available.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\"> Does not include expansion rooms completed in April 2021.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><\/p>\n<p align=\"justify\"><strong><u>Gaylord Texan<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><strong \/><strong \/><strong \/><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><strong \/><strong \/><strong \/><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$18,358<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$55,996<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-67.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($4,781)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$13,379<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-135.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating Income\/(Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-26.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">23.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-49.9pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$1,448<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$19,842<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-92.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">7.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">35.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-27.5pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">22.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">56.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-33.7pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$189.83<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$204.70<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-7.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$42.99<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$115.26<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-62.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$112.45<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$339.22<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-66.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Calculation of hospitality performance metrics includes closed hotel room nights available.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><\/p>\n<p align=\"justify\"><strong><u>Gaylord National<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$1,257<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$49,394<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-97.5%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating (Loss)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($14,523)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($12,921)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-12.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating (Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-1155.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-26.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-1,129.2pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($6,336)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$1,313<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-582.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-504.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">2.7%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-506.8pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">0.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">51.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-51.9pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$0.00<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$207.08<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-100.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$0.00<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$107.51<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-100.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$7.00<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$271.94<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-97.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Revenue for the three months ended March 31, 2021 consisted primarily of attrition<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\"> and cancellation fees.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(2) Calculation of hospitality performance metrics includes closed hotel room nights available.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><\/p>\n<p align=\"justify\"><strong><u>Gaylord Rockies<\/u><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">($ in thousands, except ADR, RevPAR, and Total RevPAR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" style=\"max-width:65%;width:65%;min-width:65%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>Three Months Ended<\/strong><strong \/><strong \/><strong \/><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"5\"><strong>March 31,<\/strong><strong \/><strong \/><strong \/><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>% \u2206<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$11,970<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$54,598<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-78.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating (Loss) <sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($24,699)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($1,739)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-1320.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Operating (Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-206.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-3.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-203.1pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em><sup> (1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($2,008)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$20,870<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-109.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-16.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">38.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-55.0pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">17.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">57.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-40.0pt<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$175.28<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$203.31<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-13.8%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$30.46<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$116.63<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-73.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR <sup>(2)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$88.61<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$399.72<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-77.8%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(1) Operating income\/(loss) and Adjusted EBITDA<em>re<\/em> for Gaylord Rockies exclude asset<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\"> management fees payable to RHP of $0.1 million and $0.5 million during the three<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\"> months ended March 31, 2021, and March 31, 2020, respectively.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"6\">(2) Calculation of hospitality performance metrics includes closed hotel room nights available.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><\/p>\n<p align=\"justify\"><strong><u>Entertainment Segment<\/u><\/strong><br \/>For the three months ended March 31, 2021 and 2020, the Company reported the following:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_middle\" style=\"max-width:67%;width:67%;min-width:67%\"><strong><u>Entertainment Segment Results<\/u><\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"3\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"3\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">($ in thousands)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong><u>2021<\/u><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong><u>2020<\/u><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\"><strong><u>% \u2206<\/u><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$14,373<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">$27,359<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-47.5%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Operating (Loss)<sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($7,920)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($5,786)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-36.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Operating (Loss) margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-55.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-21.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-34.0pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Adjusted EBITDA<em>re<\/em><sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($5,461)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($3,280)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-66.5%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Adjusted EBITDA<em>re<\/em> margin<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-38.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-12.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">-26.0pt<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">(1) Includes approximately $3.7 million in COVID-19 related costs, which are<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">primarily employment costs, in the three months ended March 31, 2020.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Reed continued, \u201cI am very pleased with the performance of our entertainment business during this quarter. Despite occupancy limitations at the Grand Ole Opry and Ryman Auditorium, we continued to see sold-out shows night after night, furthering our conviction that our customers have pent-up desire for live entertainment. Our Ole Red locations saw steady traffic throughout the first quarter, and we are pleased with their performance given the varying local restrictions on capacity and operating hours. On April 27, Nashville\u2019s Mayor John Cooper and Metro Public Health Department announced that all capacity restrictions are being lifted in Nashville starting May 14. This announcement is a positive sign that the recovery is progressing and that a return to seeing our favorite performers in person is drawing nearer. Starting in mid-May, the Ryman and Opry will be allowed to sell tickets at full capacity, and we know that artists and music fans alike cannot wait to enjoy live entertainment in our historic venues.\u201d<\/p>\n<p align=\"justify\"><strong><u>Corporate and Other Segment <\/u><\/strong><\/p>\n<p align=\"justify\">For the three months ended March 31, 2021 and 2020, the Company reported the following:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"3\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"3\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:67%;width:67%;min-width:67%\">($ in thousands)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\"><strong><u>2021<\/u><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\"><strong><u>2020<\/u><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:11%;width:11%;min-width:11%\"><strong><u>% \u2206<\/u><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\">Operating Loss<sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($8,094)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($8,607)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">6.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Adjusted EBITDA<em>re<\/em><sup>(1)<\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($5,099)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">($6,009)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_middle\">15.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\">(1) Includes approximately $0.2 million in total COVID-19 related costs for the three<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" colspan=\"4\"> month period ending March 31, 2020, which were primarily employment costs.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Reed concluded, \u201cWe continue to see positive news coming on the COVID-19 front, enabling leisure and business travel to resume for our customers who we believe are eager to congregate together again and safely enjoy the irreplaceable benefits of in-person gatherings. I again want to express my tremendous gratitude for and pride in the efforts our employees continue to make every day across our operating businesses. I remain confident in our employees, our business model, and the long-term strength of our Company.\u201d <\/p>\n<p align=\"justify\"><strong>Dividend Update<\/strong><br \/>The Company suspended its regular quarterly dividend payments following the payment of the first quarter 2020 dividend payment, which was made in April 2020. The Board has not reinstituted the dividend.<\/p>\n<p align=\"justify\"><strong>Balance Sheet\/Liquidity Update<\/strong><br \/>As of March 31, 2021, the Company had total debt outstanding of $2,751.7 million, net of unamortized deferred financing costs, and unrestricted cash of $67.1 million. As of March 31, 2021, no borrowings were drawn under the revolving credit line of the Company\u2019s credit facility, and the lending banks had issued $0.3 million in letters of credit, which left $699.7 million of availability for borrowing under the credit facility.<\/p>\n<p align=\"justify\">During the first quarter, the Company successfully completed a private placement of $600 million of 4.5% senior notes due 2029. The proceeds from this offering were used to repurchase and redeem the Company\u2019s previously outstanding $400 million 5.00% senior notes due 2023, to repay amounts outstanding under the Company\u2019s revolving credit facility, and for general corporate purposes.<\/p>\n<p align=\"justify\"><strong>Earnings Call Information<\/strong><br \/>Ryman Hospitality Properties will hold a conference call to discuss this release tomorrow May 4, 2021 at 10 a.m. ET. Investors can listen to the conference call over the Internet at www.rymanhp.com. To listen to the live call, please go to the Investor Relations section of the website (Investor Relations\/Presentations, Earnings and Webcasts) at least 15 minutes prior to the call to register and download any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call and will be available for at least 30 days.<\/p>\n<p align=\"justify\"><strong>About Ryman Hospitality Properties, Inc.<\/strong><br \/>Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. The Company\u2019s core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space. These convention center resorts operate under the Gaylord Hotels brand and are managed by Marriott International. The Company also owns two adjacent ancillary hotels and a small number of attractions managed by Marriott International for a combined total of 10,110 rooms and more than 2.7 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. The Company\u2019s Entertainment segment includes a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country lifestyle media network the Company owns in a joint-venture with Gray Television. The Company operates its Entertainment segment as part of a taxable REIT subsidiary. Visit RymanHP.com for more information.<\/p>\n<p align=\"justify\"><em>*The Company owns the Gaylord Opryland Resort &amp; Convention Center; Gaylord Palms Resort &amp; Convention Center; Gaylord Texan Resort &amp; Convention Center; and Gaylord National Resort &amp; Convention Center. It is the majority owner and managing member of the joint venture that owns Gaylord Rockies Resort &amp; Convention Center.<\/em><\/p>\n<p align=\"justify\"><strong>Cautionary Note Regarding Forward-Looking Statements<\/strong><br \/>This press release contains statements as to the Company\u2019s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of our business, the anticipated impact of a widely available COVID-19 vaccine on group business, the impact of COVID-19 on travel, transient and group demand, the effects of COVID-19 on our results of operations, rebooking efforts, our plans to reopen the Gaylord National, completion of expansion or construction projects, our liquidity, monthly cash expenses, the anticipated acquisition of the remaining 35% ownership interest in the Gaylord Rockies joint venture not owned by the Company, anticipated estimated financial results for the Gaylord Rockies for future periods, and other business or operational issues. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the COVID-19 pandemic, including the effects of the COVID-19 pandemic on us and the hospitality and entertainment industries generally, the effects of the COVID-19 pandemic on the demand for travel, transient and group business (including government-imposed restrictions), levels of consumer confidence in the safety of travel and group gathering as a result of COVID-19, the duration and severity of the COVID-19 pandemic in the United States and the pace of recovery following the COVID-19 pandemic, the duration and severity of the COVID-19 pandemic in the markets where our assets are located, governmental restrictions on our businesses, economic conditions affecting the hospitality business generally, the geographic concentration of the Company\u2019s hotel properties, business levels at the Company\u2019s hotels, the Company\u2019s ability to remain qualified as a REIT for federal income tax purposes, the Company\u2019s ability to execute its strategic goals as a REIT, the Company\u2019s ability to generate cash flows to support dividends, the suspension of our dividend and our dividend policy, including the frequency and amount of any dividend we may pay, and the Company\u2019s ability to borrow funds pursuant to its credit agreement, and the occurrence of any event, change or other circumstance that could delay the Company\u2019s acquisition of the remaining 35% ownership interest in the Gaylord Rockies joint venture not owned by the Company, or the termination of the transaction agreement for such acquisition. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its Quarterly Reports on Form 10-Q and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.<\/p>\n<p align=\"justify\"><strong>Additional Information<\/strong><br \/>This release should be read in conjunction with the consolidated financial statements and notes thereto included in our most recent annual report on Form 10-K. Copies of our reports are available on our website at no expense at www.rymanhp.com and through the SEC\u2019s Electronic Data Gathering Analysis and Retrieval System (\u201cEDGAR\u201d) at www.sec.gov.<\/p>\n<p align=\"justify\"><strong><em>Calculation of RevPAR and Total RevPAR<\/em><\/strong><br \/>We calculate revenue per available room (\u201cRevPAR\u201d) for our hotels by dividing room revenue by room nights available to guests for the period. Room nights available to guests include nights the hotels are closed. We calculate total revenue per available room (\u201cTotal RevPAR\u201d) for our hotels by dividing the sum of room revenue, food &amp; beverage and other ancillary services revenue by room nights available to guests for the period. Rooms out of service for renovation are included in room nights available. For the three months ended March 31, 2021 and 2020, the calculation of RevPAR and Total RevPAR in our tabular presentations has not been changed as a result of the COVID-19 pandemic and the resulting hotel closures and is consistent with prior periods. The closure of our Gaylord Hotel properties, including the Gaylord National, which remains closed, and reopening under capacity restrictions has resulted in the significant decrease in performance reflected in these metrics for the three months ended March 31, 2021 as compared to the prior-year periods.<\/p>\n<p align=\"justify\"><strong><em>Calculation of GAAP Margin Figures<\/em><\/strong><br \/>We calculate Net Income available to common shareholders margin by dividing GAAP consolidated Net Income available to common shareholders by GAAP consolidated Total Revenue. We calculate consolidated, segment or property-level Operating Income Margin by dividing consolidated, segment or property-level GAAP Operating Income by consolidated, segment or property-level GAAP Revenue.<\/p>\n<p align=\"justify\"><strong><em>Non-GAAP Financial Measures<\/em><\/strong><br \/>We present the following non-GAAP financial measures we believe are useful to investors as key measures of our operating performance:<\/p>\n<p align=\"justify\"><strong><em>EBITDA<\/em><\/strong><strong>re, <\/strong><strong><em>Adjusted EBITDA<\/em><\/strong><strong>re <\/strong><strong><em>and Adjusted EBITDA<\/em><\/strong><strong>re, <\/strong><strong><em>Excluding Noncontrolling Interest in Consolidated Joint Ventures Definition<\/em><\/strong><br \/>We calculate EBITDA<em>re,<\/em>which is defined by the National Association of Real Estate Investment Trusts (\u201cNAREIT\u201d) in its September2017 white paper as net income (calculated in accordance with GAAP) plus interest expense, income tax expense, depreciation and amortization, gains or losses on the disposition of depreciated property (including gains or losses on change in control), impairment write-downs of depreciated property and of investments in unconsolidated affiliates caused by a decrease in the value of depreciated property or the affiliate, and adjustments to reflect the entity\u2019s share of EBITDA<em>re<\/em>of unconsolidated affiliates.<\/p>\n<p align=\"justify\">Adjusted EBITDA<em>re<\/em>is then calculated as EBITDA<em>re,<\/em>plus to the extent the following adjustments occurred during the periods presented:<\/p>\n<ul type=\"disc\">\n<li>preopening costs;<\/li>\n<li>non-cash lease expense;<\/li>\n<li>equity-based compensation expense;<\/li>\n<li>impairment charges that do not meet the NAREIT definition above;<\/li>\n<li>credit losses on held-to-maturity securities;<\/li>\n<li>any transaction costs of acquisitions;<\/li>\n<li>interest income on bonds;<\/li>\n<li>loss on extinguishment of debt;<\/li>\n<li>pension settlement charges;<\/li>\n<li>pro rata Adjusted EBITDA<em>re<\/em>from unconsolidated joint ventures; and<\/li>\n<li>any other adjustments we have identified herein.<\/li>\n<\/ul>\n<p align=\"justify\">We then exclude noncontrolling interests in consolidated joint ventures to calculate Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture.<\/p>\n<p align=\"justify\">We use EBITDA<em>re<\/em>, Adjusted EBITDA<em>re<\/em>and Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture to evaluate our operating performance. We believe that the presentation of these non-GAAP metrics provides useful information to investors regarding our operating performance and debt leverage metrics, and that the presentation of these non-GAAP metrics, when combined with the primary GAAP presentation of net income, is beneficial to an investor\u2019s complete understanding of our operating performance. We make additional adjustments to EBITDA<em>re<\/em>when evaluating our performance because we believe that presenting Adjusted EBITDA<em>re<\/em>and Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture provides useful information to investors regarding our operating performance and debt leverage metrics.<\/p>\n<p align=\"justify\"><strong><em>Adjusted EBITDAre, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin Definition<\/em><\/strong><br \/>We calculate consolidated Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin by dividing consolidated Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture by GAAP consolidated Total Revenue. We calculate consolidated, segment or property-level Adjusted EBITDA<em>re<\/em> Margin by dividing consolidated, segment-, or property-level Adjusted EBITDA<em>re<\/em> by consolidated, segment-, or property-level GAAP Revenue. We believe Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture Margin is useful to investors in evaluating our operating performance because this non-GAAP financial measure helps investors evaluate and compare the results of our operations from period to period by presenting a ratio showing the quantitative relationship between Adjusted EBITDA<em>re<\/em>, Excluding Noncontrolling Interest in Consolidated Joint Venture and GAAP consolidated Total Revenue or segment or property-level GAAP Revenue, as applicable.<\/p>\n<p align=\"justify\"><strong><em>FFO, Adjusted FFO, and Adjusted FFO available to common shareholders and unit holders Definition<\/em><\/strong><br \/>We calculate FFO,which definition is clarified by NAREIT in its December2018 white paper as net income (calculated in accordance with GAAP) excluding depreciation and amortization (excluding amortization of deferred financing costs and debt discounts), gains and losses from the sale of certain real estate assets, gains and losses from a change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciated real estate held by the entity, income (loss) from consolidated joint ventures attributable to noncontrolling interest, and pro rata adjustments for unconsolidated joint ventures.<\/p>\n<p align=\"justify\">To calculate Adjusted FFO available to common shareholders and unit holders, we then exclude, to the extent the following adjustments occurred during the periods presented:<\/p>\n<ul type=\"disc\">\n<li>right-of-use asset amortization;<\/li>\n<li>impairment charges that do not meet the NAREIT definition above;<\/li>\n<li>write-offs of deferred financing costs;<\/li>\n<li>amortization of debt discounts or premiums and amortization of deferred financing costs;<\/li>\n<li>(gains) losses on extinguishment of debt<\/li>\n<li>non-cash lease expense;<\/li>\n<li>credit loss on held-to-maturity securities;<\/li>\n<li>pension settlement charges;<\/li>\n<li>additional pro rata adjustments from unconsolidated joint ventures;<\/li>\n<li>(gains) losses on other assets;<\/li>\n<li>transaction costs on acquisitions;<\/li>\n<li>deferred income tax expense (benefit); and<\/li>\n<li>any other adjustments we have identified herein.<\/li>\n<\/ul>\n<p align=\"justify\">To calculate adjusted FFO available to common shareholders and unit holders (excluding maintenance capex), we then exclude FF&amp;E reserve for managed properties and maintenance capital expenditures for non-managed properties. FFO available to common shareholders and unit holders and Adjusted FFO available to common shareholders and unit holders and Adjusted FFO available to common shareholders and unit holders (excluding maintenance capex) exclude the ownership portion of Gaylord Rockies joint venture not controlled or owned by the Company.<\/p>\n<p align=\"justify\">Beginning in the third quarter of 2020, we refer to unitholders in these measures, reflecting outstanding OP units issued to noncontrolling interests for the first time during third quarter 2020.<\/p>\n<p align=\"justify\">We believe that the presentation of these non-GAAP financial measures provide useful information to investors regarding the performance of our ongoing operations because each presents a measure of our operations without regard to specified non-cash items such as real estate depreciation and amortization, gain or loss on sale of assets and certain other items, which we believe are not indicative of the performance of our underlying hotel properties. We believe that these items are more representative of our asset base than our ongoing operations. We also use these non-GAAP financial measures as measures in determining our results after considering the impact of our capital structure.<\/p>\n<p align=\"justify\">We caution investors that non-GAAP financial measures we present may not be comparable to similar measures disclosed by other companies, because not all companies calculate these non-GAAP measures in the same manner. The non-GAAP financial measures we present, and any related per share measures, should not be considered as alternative measures of our Net Income (Loss), operating performance, cash flow or liquidity. These non-GAAP financial measures may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures and property acquisitions and other commitments and uncertainties. Although we believe that these non-GAAP financial measures can enhance an investor\u2019s understanding of our results of operations, these non-GAAP financial measures, when viewed individually, are not necessarily better indicators of any trend as compared to GAAP measures such as Net Income (Loss), Operating Income (Loss), or cash flow from operations.<\/p>\n<table align=\"center\" class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><strong><em>Investor Relations Contacts:<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><strong><em>Media Contacts:<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Mark Fioravanti, President &amp; Chief Financial Officer<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Shannon Sullivan, Vice President Corporate and Brand Communications<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Ryman Hospitality Properties, Inc.<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Ryman Hospitality Properties, Inc.<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">(615) 316-6588<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">(615) 316-6725<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><a href=\"mailto:mfioravanti@rymanhp.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"\"><u>mfioravanti@rymanhp.com<\/u><\/a><\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><u>ssullivan@rymanhp.com<\/u><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><strong><em>~or~<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><strong><em>~or~<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Todd Siefert, Senior Vice President Corporate Finance &amp; Treasurer<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Robert Winters<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Ryman Hospitality Properties, Inc.<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">Alpha IR Group<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">(615) 316-6344<\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\">(929) 266-6315<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><a href=\"mailto:tsiefert@rymanhp.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"\"><u>tsiefert@rymanhp.com<\/u><\/a><\/td>\n<td class=\"gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin gnw_vertical_align_middle\"><a href=\"mailto:robert.winters@alpha-ir.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"robert.winters@alpha-ir.com\">robert.winters@alpha-ir.com<\/a><\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES<\/strong><strong><br \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"7\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong> CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong><strong><br \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">Unaudited<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">(In thousands, except per share data)<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong><em \/><\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"6\"><strong>Three Months Ended<\/strong><strong><br \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"6\"><strong>Mar. 31<\/strong><strong><br \/><\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Revenues :<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:66%;width:66%;min-width:66%\">Rooms<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:12%;width:12%;min-width:12%\"> 28,228<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:12%;width:12%;min-width:12%\"> 106,128<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Food and beverage<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">18,175<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">145,750<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Other hotel revenue<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">23,399<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">33,793<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Entertainment<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">14,373<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">27,359<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"> Total revenues<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">84,175<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">313,030<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Operating expenses:<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Rooms<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">9,477<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">32,308<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Food and beverage<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">19,329<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">83,811<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Other hotel expenses<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,557<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">90,474<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Management fees<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">753<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,492<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"> Total hotel operating expenses<\/td>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">84,116<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">212,085<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Entertainment<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">18,691<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">29,346<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Corporate<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">7,528<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">8,136<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">399<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">801<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Gain on sale of assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Depreciation and amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,315<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,345<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"> Total operating expenses<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">163,732<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">308,280<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Operating income (loss)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(79,557<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,750<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Interest expense, net of amounts capitalized<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(30,796<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(29,358<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Interest income<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,370<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,371<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Loss on extinguishment of debt<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(2,949<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Loss from consolidated joint ventures<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,609<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,895<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Other gains and (losses), net<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">374<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">195<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Loss before income taxes<\/td>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(113,167<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(23,937<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Provision for income taxes<\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(3,954<\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(26,799<\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Net loss<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(117,121<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(50,736<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Net loss attributable to noncontrolling interest in consolidated joint venture<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">11,793<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,220<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Net loss attributable to noncontrolling interest in Operating Partnership<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">807<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Net loss available to common shareholders<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (104,521<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (46,516<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Basic loss per share available to common shareholders<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.90<\/td>\n<td class=\"gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.85<\/td>\n<td class=\"gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Diluted loss per share available to common shareholders<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.90<\/td>\n<td class=\"gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.85<\/td>\n<td class=\"gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\"><u>Weighted average common shares for the period:<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Basic<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,995<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,911<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Diluted<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,995<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,911<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">Unaudited<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">(In thousands)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong><em \/><\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong><em \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>Mar. 31<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>Dec. 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong \/><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong \/><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\">ASSETS:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Property and equipment, net of accumulated depreciation<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\"> 3,102,335<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\"> 3,117,247<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Cash and cash equivalents &#8211; unrestricted<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">67,138<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">56,697<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Cash and cash equivalents &#8211; restricted<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">20,657<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">23,057<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Notes receivable<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">70,515<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">71,923<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Trade receivables, net<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">18,283<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">20,106<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Prepaid expenses and other assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">105,697<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">100,494<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Intangible assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">156,925<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">166,971<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:67%;width:67%;min-width:67%\">Total assets<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\" style=\"max-width:12%;width:12%;min-width:12%\"> 3,541,550<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\" style=\"max-width:12%;width:12%;min-width:12%\"> 3,556,495<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"3\">LIABILITIES AND EQUITY:<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Debt and finance lease obligations<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 2,751,652<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 2,658,008<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Accounts payable and accrued liabilities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">201,229<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">203,121<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Dividends payable<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">344<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">843<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Deferred management rights proceeds<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">171,948<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">172,724<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Operating lease liabilities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">108,057<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">107,569<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Deferred income tax liabilities, net<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,446<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">665<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Other liabilities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">92,945<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">92,779<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Noncontrolling interest in consolidated joint venture<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">93,601<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">100,969<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Total equity<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">117,328<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">219,817<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\">Total liabilities and equity<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 3,541,550<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 3,556,495<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/><\/tr>\n<\/table>\n<p><strong><br \/><\/strong><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>SUPPLEMENTAL FINANCIAL RESULTS<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>ADJUSTED EBITDA<\/strong><strong><em>re<\/em><\/strong><strong> RECONCILIATION<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\">Unaudited<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\">(in thousands)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"10\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"9\"><strong>Three Months Ended Mar. 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>$<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>Margin<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>$<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>Margin<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Consolidated<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:51%;width:51%;min-width:51%\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> 84,175<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:9%;width:9%;min-width:9%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> 313,030<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:9%;width:9%;min-width:9%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Net loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (117,121<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-139.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (50,736<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-16.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Interest expense, net<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">29,426<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">26,987<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Provision for income taxes<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">3,954<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">26,799<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,315<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,345<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Gain on sale of assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Pro rata EBITDA<em>re<\/em> from unconsolidated joint ventures<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">15<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">3<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(30,728<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-36.5%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">55,137<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">17.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">399<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">801<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,088<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,117<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Equity-based compensation expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,522<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,230<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Interest income on Gaylord National bonds<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,321<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,465<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Loss on extinguishment of debt<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,949<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Transaction costs of acquisitions<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">297<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (22,449<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\">-26.7%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 66,875<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\">21.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Adjusted EBITDA<em>re <\/em>of noncontrolling interest in consolidated joint venture<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">744<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (7,706<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><strong>, excluding noncontrolling interest<\/strong><strong> in consolidated joint venture<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (21,705<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-25.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 59,169<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">18.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Hospitality segment<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 69,802<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 285,671<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating income (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (63,543<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-91.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 19,143<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">6.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">49,148<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">49,769<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Gain on sale of assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">398<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">107<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,104<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,113<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Interest income on Gaylord National bonds<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,321<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,465<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (11,889<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-17.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 76,164<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">26.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Entertainment segment<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 14,373<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 27,359<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (7,920<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-55.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (5,786<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-21.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">3,601<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">3,105<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">694<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease (revenue) expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(16<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Equity-based compensation<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">467<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">298<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Transaction costs of acquisitions<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">297<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Pro rata adjusted EBITDA<em>re<\/em> from unconsolidated joint ventures<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,594<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,892<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (5,461<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-38.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (3,280<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-12.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Corporate and Other segment<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (8,094<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (8,607<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">566<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">471<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Other gains and (losses), net<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">374<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">195<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Equity-based compensation<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,055<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,932<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (5,099<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (6,009<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>SUPPLEMENTAL FINANCIAL RESULTS<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\"><strong>FUNDS FROM OPERATIONS (&#8220;FFO&#8221;) AND ADJUSTED FFO RECONCILIATION<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">Unaudited<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"8\">(in thousands, except per share data)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong \/><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"7\"><strong>Three Months Ended Mar. 31,<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Consolidated<\/u><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:69%;width:69%;min-width:69%\"><strong>Net loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> (117,121<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> (50,736<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Noncontrolling interest in consolidated joint venture<\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">11,793<\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,220<\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Net loss available to common shareholders and unit holders<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(105,328<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(46,516<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,278<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">53,308<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Adjustments for noncontrolling interest<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(7,930<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(8,557<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Pro rata adjustments from joint ventures<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">15<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>FFO available to common shareholders and unit holders<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(59,965<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,760<\/td>\n<td class=\"gnw_border_top_solid hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Right-of-use asset amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">37<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">37<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,088<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,117<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Gain on other assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Amortization of deferred financing costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,209<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,894<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Amortization of debt premiums<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(70<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(67<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Loss on extinguishment of debt<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2,949<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Adjustments for noncontrolling interest<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(217<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(214<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Transaction costs of acquisitions<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">297<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Deferred tax expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">3,781<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">26,559<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted FFO available to common shareholders and unit holders<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (50,505<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 32,430<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Capital expenditures (1)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(152<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(13,719<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted FFO available to common shareholders and unit holders (ex. maintenance capex)<\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (50,657<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 18,711<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_label_i30 gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Basic net loss per share<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.90<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.85<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Diluted net loss per share<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.90<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.85<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">FFO available to common shareholders and unit holders per basic share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.08<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.03<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Adjusted FFO available to common shareholders and unit holders per basic share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.91<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 0.59<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">FFO available to common shareholders per diluted share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1.08<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.03<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Adjusted FFO available to common shareholders per diluted share\/unit<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (0.91<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 0.59<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><u>Weighted average common shares and OP units for the period:<\/u><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Basic<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">55,422<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,911<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Diluted<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">55,422<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">54,911<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"8\"> (1) Represents FF&amp;E reserve for managed properties and maintenance capital expenditures for non-managed properties. Note that beginning in<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"8\"> March 2020, as a result of the COVID-19 pandemic, contributions to the FF&amp;E reserve for managed properties have been temporarily suspended.<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>SUPPLEMENTAL FINANCIAL RESULTS<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\"><strong>HOSPITALITY SEGMENT ADJUSTED EBITDA<\/strong><strong><em>re<\/em><\/strong><strong> RECONCILIATIONS AND OPERATING METRICS<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\">Unaudited<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"10\">(in thousands)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"10\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"9\"><strong>Three Months Ended Mar. 31,<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\"><strong>2021<\/strong><strong><br \/><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\"><strong>2020<\/strong><strong><br \/><\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><em \/><\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>$<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>Margin<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>$<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\"><strong>Margin<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Hospitality segment<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" style=\"max-width:51%;width:51%;min-width:51%\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> 69,802<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:9%;width:9%;min-width:9%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:3%;width:3%;min-width:3%\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:11%;width:11%;min-width:11%\"> 285,671<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" style=\"max-width:9%;width:9%;min-width:9%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating income (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (63,543<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-91.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 19,143<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">6.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">49,148<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">49,769<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Gain on sale of assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317)<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261)<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">398<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">107<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,104<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,113<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Interest income on Gaylord National bonds<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,321<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,465<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (11,889<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-17.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 76,164<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">26.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">16.4%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">57.1%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 189.42<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 202.09<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 31.02<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 115.36<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 45.69<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 195.15<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 76.71<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 310.51<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Gaylord Opryland<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 21,759<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 76,127<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating income (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (11,750<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-54.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 14,005<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">18.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">8,583<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">8,798<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Gain on sale of assets<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(1,261<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease (revenue) expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">2<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">(22<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (3,482<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-16.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 21,520<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">28.3%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">18.3%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">60.4%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 210.04<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 194.54<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 38.37<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 117.46<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 45.34<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 172.21<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 83.71<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 289.67<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Gaylord Palms<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 15,117<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 45,375<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating income (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (6,017<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-39.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 7,072<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">15.6%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,124<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">4,284<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Preopening costs<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">398<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">107<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Non-cash lease expense<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,102<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,135<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (393<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-2.6%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 12,598<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">27.8%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">24.3%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">62.6%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 191.71<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 216.67<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 46.66<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 135.56<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 71.96<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 216.58<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 118.62<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 352.14<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Gaylord Texan<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 18,358<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 55,996<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating income (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (4,781<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-26.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 13,379<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">23.9%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">6,229<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">6,463<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 1,448<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">7.9%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 19,842<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">35.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">22.6%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">56.3%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 189.83<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 204.70<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 42.99<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 115.26<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 69.46<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 223.96<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 112.45<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 339.22<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Gaylord National<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 1,257<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 49,394<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (14,523<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-1155.4%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (12,921<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-26.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">6,866<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">6,941<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Credit loss on held-to-maturity securities<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">5,828<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Interest income on Gaylord National bonds<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,321<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">1,465<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (6,336<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-504.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 1,313<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">2.7%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">0.0%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">51.9%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 207.08<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 107.51<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 7.00<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 164.43<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 7.00<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 271.94<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>Gaylord Rockies<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 11,970<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 54,598<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating loss <\/strong><sup><strong>(1)<\/strong><\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (24,699<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-206.3%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1,739<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-3.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">22,691<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">22,609<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong> <sup><strong>(1)<\/strong><\/sup><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (2,008<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-16.8%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 20,870<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">38.2%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">17.4%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">57.4%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 175.28<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 203.31<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 30.46<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 116.63<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 58.15<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 283.09<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 88.61<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 399.72<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>The AC Hotel at National Harbor<\/u><\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 805<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 1,849<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating loss<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (765<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-95.0%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (317<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-17.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">329<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">336<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (436<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-54.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 19<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">1.0%<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">33.3%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">43.6%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 125.99<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 206.29<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 41.89<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 90.00<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 4.68<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 15.83<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 46.57<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 105.83<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\"><strong><u>The Inn at Opryland<\/u><\/strong><sup><strong> (2)<\/strong><\/sup><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Revenue<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 536<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 2,332<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Operating (loss)<\/strong><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (1,008<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-188.1%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (336<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">-14.4%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 gnw_align_left hugin gnw_vertical_align_bottom\">Depreciation &amp; amortization<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">326<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">338<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong>Adjusted EBITDA<\/strong><strong><em>re<\/em><\/strong><\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> (682<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">-127.2%<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 2<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_align_right hugin gnw_vertical_align_bottom\">0.1%<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\"><strong \/><\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Occupancy<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">15.9%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"2\">45.8%<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Average daily rate (ADR)<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 104.19<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 137.36<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 16.55<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 62.90<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">OtherPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 3.09<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 21.69<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i15 gnw_align_left hugin gnw_vertical_align_bottom\">Total RevPAR<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 19.64<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" colspan=\"1\"> 84.59<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\">(1) Operating loss and Adjusted EBITDA<em>re<\/em> for Gaylord Rockies exclude asset management fees paid to RHP of $0.1 million and$0.5 million during the three months ended March 31, 2021 and 2020, respectively.<br \/>(2) Includes other hospitality revenue and expense<\/p>\n<p><img loading=\"lazy\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" width=\"1\" height=\"1\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/release\/track\/0af8a323-3552-4926-97ec-303c1642f6d2\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"center\">Company announces agreement to acquire remaining 35% ownership interest in Gaylord Rockies JV<\/p>\n<p align=\"justify\">NASHVILLE, Tenn., May 03, 2021 (GLOBE NEWSWIRE) &#8212; Ryman Hospitality Properties, Inc.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2816"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=2816"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2816\/revisions"}],"predecessor-version":[{"id":2827,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2816\/revisions\/2827"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=2816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=2816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=2816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}