Gaylord Sells Hotel Brand, Operating Rights To Marriott
June 1, 2012 at 4:21 AM (PT)
Country WSM-A/NASHVILLE owner GAYLORD ENTERTAINMENT has sold its GAYLORD brand for hotels and resorts to MARRIOTT INTERNATIONAL for $210 million. MARRIOTT will operate GAYLORD's four convention hotels, including NASHVILLE's GAYLORD OPRYLAND HOTEL, GAYLORD TEXAN in GRAPEVINE, TX, GAYLORD NATIONAL in WASHINGTON's MARYLAND suburbs, and ORLANDO's GAYLORD PALMS.
GAYLORD plans to become a real estate investment trust on JANUARY 1st. It remains owner of WSM-A and the GRAND OLE OPRY as well as the OPRY's former home RYMAN AUDITORIUM.