Marriott International has completed the transaction to acquire the Gaylord brand and hotel management company for $210 million. The deal was initially announced on May 31st with Gaylord Entertainment Company, now Ryman Hospitality Properties.
Marriott International reached an agreement to acquire the Gaylord Hotels brand and management company for $210 million. Gaylord Entertainment will maintain ownership of the hotels and reorganise as a real estate investment trust (REIT).
Hotel operator Gaylord Entertainment has revealed the total cost of rebuilding its flood hit properties in Nashville is likely to run to $225 million. The Gaylord Opryland Resort, the Grand Ole Opry and other Nashville-area facilities owned by the company were hit by flooding in May this year.