Marriott Completes Acquisition of Gaylord Hotels Brand and Hotel Management Company
Featured News

Marriott Completes Acquisition of Gaylord Hotels Brand and Hotel Management Company

Marriott International, Inc. (NYSE: MAR) said today that it has completed the transaction announced on May 31 with Gaylord Entertainment Company, now Ryman Hospitality Properties, Inc. (NYSE: RHP), to acquire the Gaylord brand and hotel management company for $210 million.

Gaylord Opryland Hotel

Gaylord Entertainment’s shareholders approved that company’s transition to a real estate investment trust on September 25, and Gaylord Entertainment merged with Ryman Hospitality Properties and assumed that name today.   Ryman will continue to own the existing four Gaylord hotels and Marriott will manage the properties under long-term agreements.

In addition, Marriott will also manage three Nashville attractions, effective today:  the General Jackson Showboat, Gaylord Springs Golf Links, and Wildhorse Saloon.  On December 1, Marriott will assume management of the Radisson Hotel Opryland, which will then be renamed The Inn at Opryland, a Gaylord Hotel.   Ryman will also continue to own these properties.  The transaction adds five hotels and approximately 8,100 rooms to the Marriott International portfolio. [member]

Gaylord Hotels are uniquely positioned in the group and family leisure segments with approximately 2 million square feet of meeting and event space. They offer multiple opportunities for recreation, shopping, and dining, as well as entertainment, such as their partnership with DreamWorks™.

Arne Sorenson, Marriott International president and chief executive officer, said, “Our partnership with the Gaylord organization has been exceptional.  Both the Gaylord and Marriott transition teams have worked closely together with much skill and dedication to be ready for this exciting day.  Gaylord’s proven success in the meetings and family leisure markets, and their “all-in-one-place” properties will greatly enhance our portfolio and will provide new opportunities both for Gaylord associates, called STARs, and Marriott associates.   We are delighted to welcome our new Gaylord portfolio and look forward to a long and mutually beneficial relationship with Ryman Hospitality Properties.”

“We are thrilled that this transaction is now complete and to be part of Marriott’s industry leading network of hotels,” said Colin V. Reed, Ryman Properties chairman and chief executive officer. “We chose to work with Marriott because they share our commitment to building a strong employee culture and delivering a superior customer experience.”

The Gaylord brand and properties will benefit from Marriott’s economies of scale, including reservations and procurement, sales, revenue management, and distribution systems, as well as Marriott’s 40 million-member Marriott Rewards guest loyalty program.

Marriott Rewards points can be earned and redeemed at the Gaylord Texan on Lake Grapevine near Dallas, Texas; the Gaylord Palms® in Kissimmee, Florida near Orlando; and the Gaylord National® on the Potomac in National Harbor, Maryland, near Washington, D.C., beginning in late October, and at the Gaylord Opryland Hotel, in Nashville, Tennessee, beginning in February 2013.  Marriott Rewards can also be earned and redeemed at the Inn at Opryland, a Gaylord Hotel, beginning December 1. [/member]

Click to add a comment

You must be logged in to post a comment Login

Leave a Reply






More in Featured News

El Cid Vacations Club Goes Beyond Luxury

Kayla CrawfordNovember 9, 2017

El Cid Vacations Club Lends a Helping Hand to International Cruise & Excursions Employees in Their Time of Need

Kayla CrawfordNovember 3, 2017
Concierge Realty Family Vacations

Concierge Realty Makes A Splash With Family-Friendly Beach Resorts

Keisha HaydenMay 7, 2015
Sip, Savor & See

SIP, SAVOR & SEE: Unlimited Vacation Club Delivers Oceans Of Dining, Entertainment Options

Keisha HaydenMarch 31, 2015

Unlimited Vacation Club Reveals A New Secret, Announces Riviera Maya’s Newest Luxury Resort

Keisha HaydenMarch 23, 2015

What’s Hot In Aruba: Concierge Realty Treats Travelers To Island’s Top Spots

Keisha HaydenMarch 10, 2015
Breckenridge Ski Resort Hosts Ninth Annual Hope On The Slopes Event For The American Cancer Society

Breckenridge Ski Resort Hosts Ninth Annual Hope On The Slopes Event For The American Cancer Society

Maya BrownyardFebruary 24, 2014
Welcome To The Hilton Grand Vacations

Welcome To The Hilton Grand Vacations

Maya BrownyardFebruary 19, 2014

The Kitchen Table By White Modern Cuisine Set To Open July 1, 2014 At Blue Residences Resort

Maya BrownyardJanuary 31, 2014

Vida Vacations’ Grand Luxxe Opens New Spa Towers in Nuevo Vallarta and Riviera Maya

Keisha HaydenJanuary 3, 2014
Multi-Million Rand Refurb Marks The Start Of New Era For Southern Sun Pietermaritzburg

Multi-Million Rand Refurb Marks The Start Of New Era For Southern Sun Pietermaritzburg

Maya BrownyardDecember 2, 2013
Donated Timeshares Aid In Disaster Relief For The Philippines

Donated Timeshares Aid In Disaster Relief For The Philippines

Maya BrownyardNovember 20, 2013

Copyright © 2014 Perspective Group