GAYLORD PROVIDES UPDATES ON RESTORATION PROCESS AT NASHVILLE PROPERTIES
Company Hosts Press Conference & Media Tour, Unveils Early Renderings of Renovations
Nashville, Tenn.—( June 24, 2010 ) Today, Gaylord Entertainment provided the media with a guided tour of restoration efforts currently underway at the Gaylord Opryland Resort & Convention Center and the Grand Ole Opry House in Nashville, Tenn. The company also unveiled early renderings of changes and renovations to the hotel's atriums, lobbies, restaurants, and conference areas.In a press conference at the hotel's Delta Atrium, Gaylord Chairman and CEO Colin Reed announced a major milestone in the restoration process: all clean-up and remediation work is complete and the company has officially moved into the reconstruction phase. Both the hotel and the Opry House have been closed since unprecedented flooding struck the city of Nashville during the first weekend in May.
"An immense amount of effort has gone into the stabilization, remediation, and development of the restoration plans which will allow the Gaylord Opryland and Grand Ole Opry House to reassume their roles as two of the major drivers of tourism in this region," said Reed. "Just to give you a sense of the scope of this endeavor, we have a total of 38 difference expert organizations helping us -- covering procurement, scheduling, architectural, interior design, technology, engineering, and construction. We are continuing to make excellent progress and look forward to being able to return to business as usual down the road."
Reed also assured the local media that the lead construction companies working on the hotel, the Opry House, and other Gaylord properties in the area were Nashville-based businesses. As part of Gaylord's restoration strategy, the company is redesigning the Cascades lobby, Cascades American Café Restaurant, and the Cascades Terrace Bar, as well as the Volare and Jack Daniels Restaurants. Additional renovations being performed at this time include new Italian and Mexican restaurants in the Garden District of the hotel, the redesign of the Magnolia lobby, and complete renovation of hundreds of guest rooms in the Magnolia area along with five presidential suites.
Preliminary renderings of the renovations are available at: www.gaylordopryland.com/nashvillerebuild.
Gaylord is also rebuilding its power facilities, technology systems, and laundry areas with an eye on energy conservation and "green" technologies. The total reconstruction of Gaylord's properties in Nashville is estimated to reach $215 to $225 million. The company reports it is on track and on budget to reopen the Grand Ole Opry House on October 1, 2010, and the Gaylord Opryland Resort & Convention Center on November 15, 2010.
About Gaylord Entertainment
Gaylord Entertainment (NYSE: GET), 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.
Investor Relations Contacts:
Mark Fioravanti, Senior Vice President and Chief Financial Officer
Gaylord Entertainment
(615) 316-6588
mfioravanti@gaylordentertainment.com
~or~
Patrick Chaffin, Vice President of Strategic Planning and Investor Relations
Gaylord Entertainment
(615) 316-6282
pchaffin@gaylordentertainment.com
Media Contacts:
Brian Abrahamson, Vice President of Corporate Communications
Gaylord Entertainment
(615) 316-6302
babrahamson@gaylordentertainment.com
~or~
Josh Hochberg or Dan Zacchei
Sloane & Company
(212) 486-9500
jhochberg@sloanepr.com/ dzacchei@sloanepr.com
