Marriott purchase for $ 210 million Gaylord Entertainment Company Brand

Marriott International has completed a transaction by which acquires Gaylord Entertainment Company, Ryman currently Hospitality Properties Inc., to acquire the Gaylord brand and the company that manages its hotels through an investment of paying U.S. $ 210 million.

Arne Sorenson, president and CEO of Marriott International, said «This partnership with Gaylord has been exceptional. Both teams (Marriott and Gaylord) have worked together diligently to reach this day. Gaylord is a strong brand in the segment groups and family trips. Multidimensional properties expand our portfolio and offer new opportunities for Gaylord executives to the Marriott. »

The Gaylord Entertainment Company’s shareholders approved the merger of the company with Hospitality Properties Ryman, who will continue as owner of the four Gaylord Hotels brand while Marriott International will manage the properties under long-term contracts.

Thus, Marriott will manage three attractions of the city of Nashville: General Jackson Showboat, Gaylord Springs Golf Links, Wildhorse Saloon.

As of December 1, Marriott will take over management of the Radisson Hotel Opryland, which will be renamed The Inn at Opryland, Gaylord Hotel, but Ryman continue as landlord. The transaction adds five hotels and approximately 8,100 rooms to Marriott International portfolio.

With over two million square feet of meeting and event space, Gaylord Hotels are very well positioned as options for families and groups. They offer many recreational opportunities, shopping and dining, and entertainment through a partnership with DreamWorks ™.

Colin V. Reed, president and CEO of Hospitality Properties Ryman said all are very pleased that this transaction is completed and being part of Marriott «and stressed that» We chose to work with Marriott because it shares our commitment to building a strong corporate culture with our employees and provide a good experience for our guests, «he added.

The brand and the Gaylord properties will benefit from the economies of scale of Marriott, including booking services and contracts, platform sales, revenue management and distribution systems, as well as its Marriott Rewards loyalty program to 40 million members .

The Marriott Rewards can be used now in the Gaylord Texan in Grapevine Lake, near Dallas, Texas, the Gaylord Palmsen Kissimmee, Florida, near Orlando, and Gaylord Nationalen the Potomac, in National Harbor, Maryland, near Washington, DC .. The Marriott Rewards also may be used at the Inn at Opryland from December 1 and the Gaylord Opryland Hotel in Nashville, Tennessee, as of early 2013.