NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 15, 2009--Gaylord Entertainment Company reported today that it has received an
amended 13D filing from TRT Holdings in which TRT states that it intends
to submit four nominees for election to the Company's Board of
Directors, one of whom will be Robert Rowling, the Chief Executive
Officer of TRT.
The Company continues to believe it is not in the best interest of all
of its shareholders to give TRT effective control over the Company's
long-term strategy without a full and fair price being paid to all
Gaylord shareholders. TRT's filing today is the continued attempt by a
competitor to control Gaylord Entertainment without paying a premium.
Moreover, TRT's participation on the Gaylord Board would present a
serious conflict of interest because TRT owns Omni Hotels, a chain that
competes nationwide with Gaylord for meeting business and directly with
Gaylord in three of its four principal markets - Dallas/Ft. Worth,
Orlando and Washington, D.C.
The Company's Board and management team look forward to the opportunity
of having their record evaluated - the Company has operated its business
with the highest levels of integrity and the strongest commitment to
good corporate governance; and the Company has developed the country's
leading hotel brand dedicated to the convention and meeting business.
Gaylord Hotels rank number one in Total Revenue per Available Room in
the markets that they service, including those where they compete with
Omni Hotels. Gaylord Hotels have demonstrated revenue growth that is
above the industry's growth rate for the past three years. The Company
would be happy to have the performance of Gaylord Hotels judged against
the Omni Hotels with which they compete.
Gaylord Entertainment remains committed to providing long-term value to
its shareholders by providing outstanding service to its customers.
About Gaylord Entertainment
Gaylord Entertainment (NYSE: GET
- News),
a leading hospitality and entertainment company based in Nashville,
Tenn., owns and operates Gaylord Hotels (www.gaylordhotels.com),
its network of upscale, meetings-focused resorts, and the Grand Ole Opry
(www.opry.com),
the weekly showcase of country music's finest performers for more than
80 consecutive years. The Company's entertainment brands and properties
include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson
Showboat, Gaylord Springs Golf Links, Wildhorse Saloon, and WSM-AM. For
more information about the Company, visit www.GaylordEntertainment.com.
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 from
the statements made. These include the risks and uncertainties
associated with economic conditions affecting the hospitality business
generally, the timing of the opening of new hotel facilities, increased
costs and other risks associated with building and developing new hotel
facilities, the geographic concentration of our hotel properties,
business levels at the Company's hotels, our ability to successfully
operate our hotels and our ability to obtain financing for new
developments. Other factors that could cause operating and financial
results to differ are described in the filings made from time to time by
the Company with the Securities and Exchange Commission and include the
risk factors described in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2007. The 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.
Gaylord Entertainment Company (the "Company") and its directors and
executive officers may be deemed to be participants in the solicitation
of proxies from stockholders in connection with the Company's 2009
Annual Meeting of Stockholders (the "Annual Meeting"). The Company plans
to file a proxy statement with the Securities and Exchange Commission
(the "SEC") in connection with the solicitation of proxies for the
Annual Meeting (the "2009 Proxy Statement"). Information regarding the
names of the Company's directors and executive officers and their
respective interests in the Company by security holdings or otherwise is
set forth in the Company's proxy statement relating to the 2008 annual
meeting of stockholders, which may be obtained free of charge at the
SEC's website at http://www.sec.gov
and the Company's website at http://www.gaylordentertainment.com.
Additional information regarding the interests of such potential
participants will be included in the 2009 Proxy Statement and other
relevant documents to be filed with the SEC in connection with the
Annual Meeting.
Promptly after filing its definitive 2009 Proxy Statement for the Annual
Meeting with the SEC, the Company will mail the definitive 2009 Proxy
Statement and a proxy card to each stockholder entitled to vote at the
Annual Meeting. WE URGE INVESTORS TO READ THE 2009 PROXY STATEMENT
(INCLUDING ANY SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS
THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be
able to obtain, free of charge, copies of the 2009 Proxy Statement and
any other documents filed by the Company with the SEC in connection with
the Annual Meeting at the SEC's website at http://www.sec.gov,
at the Company's website at http://www.gaylordentertainment.com
or by contacting Mark Fioravanti, Gaylord Entertainment Company, One
Gaylord Drive, Nashville, TN 37214.
CONTACT: Investor Relations:
Gaylord Entertainment
David Kloeppel, 615-316-6101
President and CFO
dkloeppel@gaylordentertainment.com
or
Mark Fioravanti, 615-316-6588
Senior Vice President and Treasurer
mfioravanti@gaylordentertainment.com
or
Rob Tanner, 615-316-6572
Director Investor Relations
rtanner@gaylordentertainment.com
or
Media:
Gaylord Entertainment
Brian Abrahamson, 615-316-6302
babrahamson@gaylordentertainment.com
or
Sloane & Company
Elliot Sloane, 212-446-1860
esloane@sloanepr.com
Source: Gaylord Entertainment Company