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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 280,190 $ 341,800 $ 134,948
Amounts to reconcile net income to net cash flows provided by operating activities:      
Provision (benefit) for deferred income taxes 10,196 (95,825) 8,244
Depreciation and amortization 235,626 211,227 208,616
Amortization of deferred financing costs 10,655 10,663 9,829
(Income) loss from unconsolidated joint ventures (275) 17,308 10,967
Stock-based compensation expense 13,891 15,421 14,985
Changes in:      
Trade receivables 15,845 21,550 (40,686)
Accounts payable and accrued liabilities 13,860 41,520 66,428
Other assets and liabilities (3,482) (6,608) 6,600
Net cash flows provided by operating activities 576,506 557,056 419,931
Cash Flows from Investing Activities:      
Purchases of property and equipment (407,905) (206,776) (89,520)
Collection of notes receivable 4,060 5,903 3,718
Other investing activities, net (6,557) (9,977) 481
Net cash flows used in investing activities (410,402) (1,012,816) (189,313)
Cash Flows from Financing Activities:      
Repayments under revolving credit facility     (190,000)
Issuance of senior notes 1,000,000 400,000  
Deferred financing costs paid (23,709) (23,400) (15,411)
Issuance of common stock, net   395,444  
Sale of noncontrolling interest in OEG     285,925
Payment of distributions (266,114) (176,001) (5,855)
Payment of tax withholdings for share-based compensation (12,300) (4,386) (4,478)
Other financing activities, net (81) (271) (199)
Net cash flows provided by (used in) financing activities (290,317) 711,871 50,712
Net change in cash, cash equivalents, and restricted cash (124,213) 256,111 281,330
Cash, cash equivalents, and restricted cash, beginning of year 700,441 444,330 163,000
Cash, cash equivalents, and restricted cash, end of year 576,228 700,441 444,330
JW Marriott Hill Country [Member]      
Cash Flows from Investing Activities:      
Purchase of business, net of cash acquired   (791,466)  
Block 21 [Member]      
Cash Flows from Investing Activities:      
Purchase of business, net of cash acquired     (93,992)
$300 Million Term Loan A [Member]      
Cash Flows from Financing Activities:      
Repayments under term loan     (300,000)
$500 Million Term Loan B [Member]      
Cash Flows from Financing Activities:      
Borrowings under term loan 18,861 500,000  
Repayments under term loan (222,320) (378,750) (5,000)
$300 Million OEG Term Loan [Member]      
Cash Flows from Financing Activities:      
Borrowings under term loan 299,250   288,000
Repayments under term loan (297,000) (3,000) (750)
Block 21 CMBS Loan [Member]      
Cash Flows from Financing Activities:      
Repayments under loan (2,904) (2,765) (1,520)
$800M Gaylord Rockies Term Loan [Member]      
Cash Flows from Financing Activities:      
Repayments under term loan (800,000)    
$80M OEG Revolver [Member]      
Cash Flows from Financing Activities:      
Borrowings under revolving credit facility 54,000 5,000  
Repayments under revolving credit facility $ (38,000)    
Circle [Member]      
Amounts to reconcile net income to net cash flows provided by operating activities:      
(Income) loss from unconsolidated joint ventures   10,500  
Cash Flows from Investing Activities:      
Investment in joint venture   $ (10,500) $ (10,000)