| REVENUES |
4. REVENUES: The Company’s revenues disaggregated by major source are as follows (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Hotel group rooms | | $ | 142,985 | | $ | 127,953 | | $ | 475,634 | | $ | 418,149 | Hotel transient rooms | | | 76,424 | | | 67,274 | | | 199,899 | | | 167,210 | Hotel food and beverage - banquets | | | 182,328 | | | 154,301 | | | 610,520 | | | 515,834 | Hotel food and beverage - outlets | | | 87,950 | | | 79,373 | | | 245,542 | | | 221,494 | Hotel other | | | 73,125 | | | 71,968 | | | 221,570 | | | 192,123 | Entertainment admissions/ticketing | | | 30,223 | | | 34,039 | | | 112,193 | | | 125,016 | Entertainment food and beverage | | | 37,212 | | | 33,481 | | | 121,034 | | | 114,353 | Entertainment retail and other | | | 25,554 | | | 24,069 | | | 82,959 | | | 85,074 | Total revenues | | $ | 655,801 | | $ | 592,458 | | $ | 2,069,351 | | $ | 1,839,253 |
The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Gaylord Opryland | | $ | 124,963 | | $ | 110,078 | | $ | 378,532 | | $ | 336,721 | Gaylord Palms | | | 69,736 | | | 66,745 | | | 255,873 | | | 228,251 | Gaylord Texan | | | 80,261 | | | 74,082 | | | 245,891 | | | 242,953 | Gaylord National | | | 82,900 | | | 78,098 | | | 247,549 | | | 242,340 | Gaylord Rockies | | | 86,102 | | | 77,951 | | | 243,086 | | | 230,621 | JW Marriott Hill Country | | | 50,585 | | | 51,615 | | | 166,642 | | | 173,464 | JW Marriott Desert Ridge | | | 39,071 | | | 36,118 | | | 173,588 | | | 41,467 | Grande Lakes Orlando | | | 21,991 | | | — | | | 21,991 | | | — | AC Hotel | | | 3,114 | | | 2,880 | | | 9,670 | | | 9,140 | Inn at Opryland and other | | | 4,089 | | | 3,302 | | | 10,343 | | | 9,853 | Total Hospitality segment revenues | | $ | 562,812 | | $ | 500,869 | | $ | 1,753,165 | | $ | 1,514,810 |
The majority of the Company’s Entertainment segment revenues are concentrated in Nashville, Tennessee; Las Vegas, Nevada; and Austin, Texas. The Company records deferred revenues when cash payments are received in advance of its performance obligations, primarily related to advanced deposits on hotel rooms and advanced ticketing at its OEG venues. At September 30, 2026 and December 31, 2025, the Company had $289.1 million and $220.6 million, respectively, in deferred revenues, which are included in accounts payable and accrued liabilities in the accompanying condensed consolidated balance sheets. Of the amount outstanding at December 31, 2025, approximately $161.9 million was recognized in revenue during the nine months ended September 30, 2026.
|