Grand Ole Opry owner sells hotel brand to Marriott
GRAND OLE SELLER: Grand Ole Opry owner Gaylord Entertainment has agreed to sell its hotel brand and the rights to manage its four hotels to Marriott for $210 million in cash. It will continue to own and operate the Grand Ole Opry, Ryman Auditorium (formerly the Grand Ole Opry house) and other attractions.
DECISION TIME: The deal announced Thursday follows a six-month review of its options going forward. Gaylord will still own the four hotels it's letting Marriott manage. By handing over day-to-day control of the hotels to Marriott, Gaylord expects to save between $33 million and $40 million a year.
FROM OLD LINE TO LONE STAR: The hotels Marriott will take over are the Gaylord National Resort and Convention Center in Maryland, Gaylord Opryland in Nashville, Gaylord Palms in Orlando and Gaylord Texan in Grapevine, Texas.
