Marriott Announced Completion of Gaylord Entertainment Acquisition

Marriott International, Inc. has issued a press release that it has completed the acquisition of the  Gaylord brand and hotel management company for $210 million.  The purchase was originally announced on May 31 with Gaylord Entertainment Company, which has now been renamed Ryman Hospitality Properties, Inc.

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 properties and Marriott will manage the properties under long-term agreements. 

The acquired resorts include 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. as well as the flagship resort Gaylord Opryland Hotel, in Nashville, Tennessee, 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.