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Contingencies
6 Months Ended
Jun. 30, 2025
Loss Contingency [Abstract]  
Contingencies Contingencies
While many of our hotels in Florida were affected by Hurricanes Helene and Milton, which made landfall in September and October 2024, respectively, the most significant damage sustained during the storms occurred at The Don CeSar, which reopened to guests on March 26, 2025, as part of a phased reopening.
At The Don CeSar, our current estimate of the book value of the property and equipment written off and remediation costs is approximately $60 million, for which we have recorded a corresponding insurance receivable of $60 million. As of June 30, 2025, we have received $29 million of insurance proceeds related to these claims, of which $10 million reduced our receivable to $50 million, and $19 million of these proceeds were recognized as a gain on business interruption, including $9 million recognized during the second quarter of 2025, which is included in net gain on insurance settlements on our unaudited condensed consolidated statements of operations. Subsequent to quarter end, we received an additional $10 million of insurance proceeds, of which $5 million related to business interruption. We believe our insurance coverage is sufficient to cover substantially all of the property damage and the near-term loss of business in excess of our insurance deductibles.