Gaylord Entertainment Re-Brands Nashville, Orlando and Texas Convention Hotels; Company Energizes its Core Hospitality and Convention Business
According to Colin Reed, chief executive officer of Gaylord Entertainment, this re-branding is based on extensive research among meeting planners, associations, travel agents and consumers of meeting and convention hotels.
"The research showed the Gaylord name connotes an upscale and high quality image that accurately reflects the brand," said Mr. Reed. "The Opryland name enjoys strong regional name recognition in Nashville and Texas, but suggests an image that is not consistent with the product that Gaylord will open in Florida in 2002 or in other locations around the country."
"We believe the Gaylord convention and meetings hospitality business is a core and strategic area of sustainable growth for the company," continued Mr. Reed. "We have taken a hard look at our business, our customers, our competition and our prospects and are convinced that we are in the unique position to be the market leader in this space. We are very excited about our new Gaylord Palms resort and convention center in the Orlando area, which has nearly 400,000 square feet of meeting space and 1,400 rooms. Outside of Las Vegas and our Nashville property, it is unique to find this combination of high quality hotel rooms and meeting space all under one roof. The property also has multiple restaurants including a signature steak house, a world-class spa, access to great golf facilities, and is conveniently located approximately one mile from the main gate of the Walt Disney World(R) Resort."
"We feel that these re-branding efforts will help us to most effectively market our convention and hotel properties. We firmly believe that our state-of-the-industry properties, with unsurpassed meeting, convention and exhibition space, and exciting on-site entertainment venues make Gaylord the premier convention and meeting destination company in the country," stated Reed.
Gaylord Entertainment is a diversified hospitality and entertainment company headquartered in Nashville, Tenn., and its stock is traded on the New York Stock Exchange (symbol: GET). Its businesses operate in two groups: Hospitality & Attractions, and Music, Media & Entertainment. Among its businesses are the Gaylord Hotels, the Grand Ole Opry, Acuff-Rose Music Publishing, Word Entertainment and WSM Radio.
This press release contains statements as to the Company's beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially form the statements made. These include the risks and uncertainties associated with the growth prospects of the meetings and convention segment of the hospitality industry, the timing of the opening of new hotel facilities, the quality of the company's hotel facilities relative to its competitors, and the ability to obtain financing for the Texas hotel property. Other factors that could cause operating and financial results to differ are described in the filings made form time to time by Gaylord Entertainment with the Securities and Exchange Commission
Gaylord Entertainment Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
CONTACT: Gaylord Entertainment, Nashville
Media Contact:
Karen Spacek, 615/316-6552
kspacek@gaylordentertainment.com
or
Investor Contacts:
David Kloeppel, 615/316-6101
dkloeppel@gaylordentertainment.com
or
Russ Worsham, 615/316-6564
rworsham@gaylordentertainment.com
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