What does material reconciling items — pre opening costs mean?

The one-time costs associated with getting a new hotel or resort ready for its first day of business.

How do you interpret material reconciling items — pre opening costs?

An increase indicates active expansion or new property launches, while a decrease suggests a pause in development or the completion of major projects.

How does material reconciling items — pre opening costs compare across companies?

Commonly reported by hotel REITs and operators as 'pre-opening expenses' or 'start-up costs' during periods of portfolio expansion.

Ryman Hospitality Properties RHP Material Reconciling Items — Pre Opening Costs

Discontinued — last reported Q4 '15

Similar metrics at other companies

MGMReportable Legal Entities — Pre Opening Costs

$60.18M+317%

MGMPreopening and start-up expenses

-$977K-1,049%

ZTSMaterial Reconciling Items — Stand Up Costs

$750K-85.0%

BROSPre-opening costs — Cost of Sales

$6.34M+13.0%

WYNNPre Open Costs — Allocated Share Based Compensation Expense

$0-100%

WYNNPreopening — Stock-based compensation expense

$0—

Other financials

Income statement

See full

Revenue$664.6M+13.2%

Gross profit$290.3M+11.4%

Operating income$137.8M+18.7%

Net income$70.5M+11.9%

EPS (diluted)$1.03+3.0%

Balance sheet

See full

Cash & equivalents$424.0M+2.5%

Total debt$4.1B+17.7%

Total equity$732.8M+37.9%

Total assets$6.2B+18.2%

Cash flow

See full

Operating cash flow$169.2M+72.3%

CapEx$113.7M+0.8%

Free cash flow$55.6M+483%

Valuation

See full

Market cap$7.9B+6.1%

Enterprise value$11.61B+11.0%

P/E31.5×+5.9×

P/S3×-0.1×

Profitability

See full

Gross margin43.9%-0.1pp

Operating margin19.2%-2.1pp

Net margin9.5%-2.7pp

FCF margin11.4%+2.0pp

Returns & leverage

See full

Return on equity39.7%-15.2pp

Debt / equity5.6×-1.0×

Where this comes from

Reported directly by Ryman Hospitality Properties in its filing.

Tagged under the XBRL concept us-gaap:PreOpeningCosts.

The official record: Ryman Hospitality Properties’s 10-K, filed February 28, 2017, on SEC EDGAR. View the filing →

Questions, answered.

What does material reconciling items — pre opening costs mean?: The one-time costs associated with getting a new hotel or resort ready for its first day of business.
How do you interpret material reconciling items — pre opening costs?: An increase indicates active expansion or new property launches, while a decrease suggests a pause in development or the completion of major projects.
How does material reconciling items — pre opening costs compare across companies?: Commonly reported by hotel REITs and operators as 'pre-opening expenses' or 'start-up costs' during periods of portfolio expansion.