Marriott to buy Gaylord Hotels brand

Discussion in 'Marriott | Rewards' started by SC Flier, May 31, 2012.  |  Print Topic

  1. SC Flier
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    SC Flier Gold Member

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    Press Release (TheStreet.com)

    Gaylord Entertainment Co. (NYSE: GET) today announced that it has agreed to sell the Gaylord Hotels brand and the rights to manage its four hotels to Marriott International, Inc. (NYSE: MAR) for $210 million in cash. Following consummation of the sale, Gaylord will continue to own its hotel properties and other businesses and will reorganize and elect to be treated as a real estate investment trust (REIT) effective January 1, 2013. The Company will be the only lodging REIT focused primarily on group-oriented destination hotels in urban and resort markets.​
     
  2. jomolungma

    jomolungma Silver Member

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    Anyone have inside knowledge as to whether you'll be able to use MRPs at Gaylord properties now? There's one near DC that I'd like to check out...
     
  3. PaulMCO

    PaulMCO Active Member

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    Yuck.... Stay at the Gaylord once a year for an annual convention... Poorly run hotel in a very BAD neighborhood in Oxon Hill Maryland. You are held captive. Restaurants are overpriced and parking runs I think $25 per night. You need a car to escape.

    Stay downtown...
     
  4. SC Flier
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    SC Flier Gold Member

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  5. servo

    servo Silver Member

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    M
    My company had our annual conference at the Gaylord in DC last year, and it was pretty stunning. This year was at the Manchester Grand Hyatt in San Diego, and it was a night and day comparison. Next year we're going to the Gaylord in Nashville, and it's apparently really nice since the post 2010 flood rehab.
     
  6. cova

    cova Gold Member

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    They are trying to get gambling at the DC Gaylord - although lots of opposition from the community. Not sure what will happen. The DC property is a huge investment - and I would say the hotel is not all that successful. I have never driven down to see it - maybe 10 miles from city and that is likely the problem - others aren't either. You see it from the air when approaching DCA - very large complex.

    The location is not the best - but it pretty much is isolated from the neighboring area - with the 295 freeway deadending there. Unless you are attending a convention at the property - likely no reason to stay there.

    I would guess Gaylord is trying to sell the chain as a REIT to recover the huge investment. The Orlando property is likely aging - not sure of the Dallas - but you see it when landing at DFW. Been in the one in Nashville - pre-flood.

    These are resort type properties - but if mega convention business is down - profits will be hard to come by. Not sure why Marriott is getting involved here - but I guess $210 is not that great to pay for name and operations. But I hope my 401K isn't going to buy the REIT.
     
  7. SkiAdcock
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    SkiAdcock Silver Member

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  8. PhlyingRPh
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    PhlyingRPh Silver Member

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