Company Profile
Gaylord Entertainment Company
Company Overview
Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates three industry-leading brands - Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts, ResortQuest International (www.resortquest.com), the nation's largest vacation rental property management company, and the Grand Ole Opry (www.opry.com), the weekly showcase of country music's finest performers for 79 consecutive years. The company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Springhouse Links, Wildhorse Saloon and WSM-AM. For more information about the company, visit www.gaylordentertainment.com.
Company History
Gaylord Entertainment Company
2005
May 2005 – Colin V. Reed becomes chairman of the Gaylord Entertainment board of directors, adding the chairman’s role to his responsibilities as president and chief executive officer. Michael Rose, chairman since April 2001, is named chairman of the board’s executive committee.
April 2005 –Gaylord Opryland Resort & Convention Center announces a four-year, $45 million room renovation project for the landmark resort. The 2,300-room renovation (another 580 rooms were renovated in 2001) will create a more sophisticated and contemporary look with luxurious new furnishings, wall coverings, custom draperies, and pillow top mattresses. The upgrades will also include converting double rooms to queens and adding updated conveniences for guests.
January 2005 – Gaylord acquires six businesses in four highly desirable U.S. vacation markets from East West Resorts to become a part of Gaylord’s ResortQuest brand. The $22.25 million purchase adds nearly 2000 luxury residential rental homes, condominiums and villas to its 18,000 units under exclusive management by ResortQuest. The properties are in premier vacation locations including the Colorado ski destinations of Aspen and Breckenridge and the South Carolina beach destinations of Hilton Head and the Charleston Outer Islands, specifically Kiawah Island, Seabrook Island, Sullivan's Island and Isle of Palms.
2004
December 2004 – Gaylord Entertainment and about 500 local government and community leaders break ground for the Gaylord National Resort & Convention Center, scheduled for opening in March 2008. Since announcing specific plans for the “all-in-one-place” facility in September, the company has already secured advance bookings for 20,000 room nights.
October 2004 – The Grand Ole Opry signs Cracker Barrel Old County Store? as its first presenting sponsor in the 79-year history of the Opry. “The Grand Ole Opry Presented by Cracker Barrel Old Country Store” is a multi-year agreement that closely aligns these two iconic brands before a worldwide audience of more than 42 million households.
September 2004 – Gaylord Hotels unveils plans for what will be the largest combined hotel and convention center in the nation’s capital region, the Gaylord National Resort & Convention Center on the Potomac. Situated on a scenic bluff overlooking the Potomac River in Prince George’s County, Md., the Gaylord National is scheduled to open in 2008, giving large groups and conventions a fourth Gaylord property designed to meet their specific needs. With 1,500 luxurious guest rooms and 400,000 square feet of expansive convention space, the site is within 10 miles of Washington D.C.’s national monuments and historic landmarks.
September 2004 – Springhouse Links becomes the new name of Springhouse Golf Club, reflecting the traditional links style of the golf course. Springhouse Links also announces plans to establish a golf training academy on site.
September 2004 – DIRECTV, the nation’s leading multi-channel television service provider, makes Grand Ole Opry performances available to its 13 million subscribers through a new agreement with the Opry’s TV network partner Great American Country (GAC).
August 2004 – Gaylord Entertainment’s board of directors announces that President and Chief Executive Officer Colin V. Reed will succeed Michael Rose as chairman in May 2005.
June 2004 – Gaylord Palms makes hospitality history by installing computer devices in every guest room with its new iConnect systems. The technology sets a new standard for in-room communication capabilities.
May 2004 – Gaylord family members announce their intention to sell nearly six million Gaylord Entertainment Co. shares of stock. The secondary stock offering is oversubscribed by investors and as a result the Gaylord family is no longer the largest shareholder in Gaylord Entertainment Co. In addition, Gaylord family members Christie Everest Gaylord and Martin Dickinson resign from the board of directors to be succeeded later in the year by independent directors Michael Roth, Michael Bender and Ellen Levine.
April 2004 – The Gaylord Texan Resort & Convention Center on Lake Grapevine opens its doors to great acclaim with a full house for opening weekend. Within six months, the hotel hits 76 percent occupancy, making it the leading hotel in the DFW market. From its own version of the Riverwalk to the flavor of the Alamo, the $480 million facility boasts all things Texas, giving large group and convention attendees another top-notch destination under the Gaylord Hotels brand.
2003
November 2003 – Gaylord completes its $177 million acquisition of ResortQuest International, seizing the opportunity to cross-promote Gaylord Hotels, ResortQuest properties, and the Grand Ole Opry – three highly complementary brands.
November 2003 – Gaylord moves a step closer to divesting its non-core businesses with the sale of its 76 percent interest in the Oklahoma Red Hawks, a minor league baseball team, which was sold to The Oklahoma Baseball Club LLC for $6.8 million.
October 2003 – Shortly before hosting the Country Music Association (CMA) Awards to audiences worldwide, Gaylord puts the finishing touches on its $7.5 million renovation of the Grand Ole Opry House, home of the Grand Ole Opry since 1974.
September 2003 – Grand Ole Opry Live strengthens its distribution by moving to Great American Country (GAC), with plans to air the show live every week, in addition to giving viewers five chances weekly to see replays of the legendary country show.
August 2003 – America’s Grand Ole Opry Weekend airs on 205 country music radio stations nationwide through Westwood One, part of the Opry’s aggressive distribution expansion.
August 2003 – Gaylord announces plans to leverage its hospitality success by acquiring ResortQuest International, the nation’s leader in the $10 billion vacation rental property industry. The $177 million stock-for-stock purchase creates for Gaylord an impressive range of accommodations for convention, business, and leisure travelers, with an opportunity to cross-sell three highly complementary hospitality and entertainment brands (Gaylord Hotels, Grand Ole Opry, and ResortQuest).
June 2003 – Focusing its energies on expanding the distribution channels for 650AM WSM, Gaylord sells WWTN-FM and WSM-FM in Nashville to Cumulus Media for $65 million.
2002
November 2002 – 650AM WSM goes live on Sirius Satellite Radio, taking legendary country classic radio programming and Grand Ole Opry performances to a nationwide radio audience.
August 2002 – Gaylord completes its sale of Acuff-Rose Music Publishing Company to Sony/ATV Music Publishing for $157 million, further crystallizing Gaylord’s focus on large meetings and conventions as its core business.
July 2002 – The Gaylord Opryland Resort & Convention Center completes its $85 million renovation, including completely remodeled Cascades and Magnolia lobbies; full interior renovations and the addition of cordless phones, in-room fax access and internet connections for the property’s 2,881 guest rooms; remodeled ballrooms with upgraded lighting and sound, new carpeting and expanded catering capabilities; new dining venues; and a new “wayfinding” programming with color coding, new room numbering and escalators to help guests throughout the complex.
July 2002 – Gaylord sells its 33.3 percent stake in the Opry Mills Shopping Center in Nashville for $30.8 million. Proceeds from the sale to The Mills Corporation are earmarked for investing in the company’s growing hotel portfolio.
February 2002 – Having interviewed 15,000 job applications to find the “cream of the crop” to staff the Orlando area’s newest upscale destination resort, Gaylord Entertainment opens Gaylord Palms Resort & Convention Center near Central Florida’s world-famous theme parks. The first resort for Gaylord in a new market, Gaylord Palms offers guests everything under one roof – 1,400 upscale hotel rooms, 400,000 square feet of meeting space, three restaurants, and a variety of entertainment options – in addition to the latest in technology.
January 2002 – Continuing to shed its non-core businesses, Gaylord finalizes the sale of its Word Entertainment division to Warner Music Group for $84.1 million in cash.
2001
June 2001 – Country Music Hall of Fame member Little Jimmy Dickens helps christen the Ryman Auditorium (circa 1943) as a National Historic Landmark, as designated by the National Park Service.
April 2001 – Gaylord Entertainment Company names Colin V. Reed president and chief executive officer; Michael Rose becomes chairman of Gaylord’s board of directors. The experienced leadership team begins a turnaround centered on refocusing the company around service-based principles and building the Gaylord Hotels brand.
March 2001 – Gaylord Entertainment sells Pandora Films, Gaylord Films, Gaylord Sports Management, Gaylord Event Television and Gaylord Production Company to Oklahoma Publishing Company for $22 million in cash and the assumption of $20 million in third party debt.
2000
December 2000 – Gaylord sells Opryland KOA Kampground to Kampgrounds of America, Inc.
October 2000 – The Grand Ole Opry celebrates its 75th anniversary, marking a new milestone in the rich history of the world’s longest-running live radio show.
September 2000 – Gaylord establishes Gaylord Films and enters into a co-financing and production deal with Warner Bros. Pictures to partner on the production and worldwide distribution of up to 10 films over four years.
July 2000 – Gaylord President and CEO Terry E. London resigns; Chairman E.K. Gaylord II becomes interim president and CEO while the board seeks new leadership.
June 2000 – Gaylord breaks ground for the Gaylord Texan Resort & Convention Center on Lake Grapevine, the company’s third property devoted to serving the large group and convention market with unparalleled service, 1,511 hotel rooms, 400,000 square feet of convention space, multiple restaurants, and entertainment in an atmosphere that is decidedly “Texas.”
April 2000 – Gaylord Entertainment announces its purchase of Corporate Magic, bringing its convention and resort properties a new level of creative event production and strategic business content development for corporations.
April 2000 – The historic Ryman Auditorium, home to the Grand Ole Opry from 1943-1974, takes on new notoriety with a 20-cent post card commemorated by the U.S. Postal Service.
February 2000 – Gaylord enters into a contract with Credit Suisse First Boston that will monetize the stock and defer taxes until 2007 on its Viacom stock holdings acquired as a result of its earlier sale of KTVT-TV.
January 2000 – Gaylord announces plans to enter the highly-desirable Washington, D.C. market with a new “everything-in-one-place” upscale resort and convention center in Prince George’s County, Md., overlooking Washington D.C. The 1,500 room hotel designed with large groups and conventions in mind, would be on the banks of the Potomac River as part of a multi-use development known as National Harbor.
1999
December 1999 – Gaylord buys Jack Nicklaus Productions, later named Gaylord Event Television.
October 1999 – Gaylord Entertainment sells KTVT-TV in Dallas to CBS Television, for approximately 11 million shares of CBS stock. When CBS is later bought by Viacom, Gaylord’s holdings in CBS are converted to Viacom stock.
September 1999 – Significantly expanding its music publishing catalogue, Gaylord’s Acuff-Rose Music Publishing buys Tom Collins Music (BMI), Collins Court Music (ASCAP), and Hallnote Music (BMI).
August 1999 – The Nashville Arena, home of the NHL Nashville Predators Franchise, is renamed the Gaylord Entertainment Center, with a Big Hits Bash celebration that raised $50,000 for five Nashville area nonprofit organizations.
June 1999 – Gaylord breaks ground on Gaylord Palms Resort & Convention Center in Kissimmee, Fla., providing meeting planners one of the nation’s most technologically advanced properties. The Gaylord Palms’ combination of exceptional service, ample lodging, meeting space, and entertainment soon make it one of the Orlando markets most popular resorts.
May 1999 – E. K. Gaylord II becomes chairman of Gaylord Entertainment; Edward L. Gaylord becomes chairman emeritus.
1998
October 1998 – Gaylord announces plans to build its third hotel, a 1,500-room convention center and resort on Lake Grapevine in Grapevine, Texas, near the Dallas-Ft. Worth International Airport.
July 1998 – Gaylord Entertainment announces plans to build Gaylord Palms Resort & Convention Center, its first new all-in-one-place hotel for large groups and conventions since the Opryland property in Nashville opened in 1997.
April 1998 – Gaylord buys Cornerstone Sports, later renamed Gaylord Sports Management, a golf management firm.
1997
April 1997 – E. W. “Bud” Wendell, who has been with the company since its earliest years and has been President and CEO since Gaylord went public in 1991, retires. Long-time Gaylord employee Terry E. London is named to succeed Wendell as President and CEO.
December 1997 – The Opryland USA theme park closes.
November 1997 – Gaylord announces plans to close Opryland USA theme park and build Opry Mills, a 200-store retail and entertainment complex, in its place.
October 1997 – Gaylord sells its broadcasting operations, including The Nashville Network (TNN) to Viacom.
October 1997 – Gaylord buys Word Records and Music from Thomas Nelson Inc. and creates Word Entertainment.
October 1997 – The company and Leipold Hockey Holdings of Racine, Wisc., file with the National Hockey League to bring an NHL franchise to Nashville. Nashville wins its bid and is awarded an expansion team later named the Nashville Predators.
1996
June 1996 – The Gaylord Opryland’s Delta expansion opens, making the property the largest combined hotel and convention center under one roof anywhere (2,881 rooms and 600,000 square feet of meeting space).
1995
June 1995 – Gaylord buys WWTN-FM, a news/talk/sports format station in Nashville.
1994
June 1994 – Springhouse Golf Club hosts the first BellSouth Senior Classic at Opryland.
June 1994 – The Wildhorse Saloon, Gaylord’s newest attraction for convention goers and tourists, opens in downtown Nashville.
1993
December 1993 – Gaylord buys a minority interest in Bass Pro Shops, one of the country’s top retailers of outdoor merchandise.
June 1993 – Gaylord becomes the owner of Acuff-Rose Music Publishing, Nashville’s first music publishing firm.
1992
November 1992 – WSM’s Grand Ole Opry is inducted into the Museum of Broadcast Communications Radio Hall of Fame.
1991
October 1991 – Gaylord Entertainment Company is formed from the entertainment assets of Gaylord Broadcasting; the new company offers its stock to the general public (NYSE: GET), with Opryland USA Inc. as the cornerstone of the company. E. W. “Bud” Wendell is president and CEO.
January 1991 – Gaylord buys Country Music Television (CMT).
1990
September 1990 – Springhouse Golf Club (renamed Springhouse Links in September 2004), an 18-hole Larry Nelson golf course, opens near Gaylord Opryland Resort.
1988
May 1988 – The Cascades, a $55 million water-themed expansion of the Gaylord Opryland Resort, opens with 824 new hotels rooms, bringing the hotel’s total rooms to 1,891.
1985
July 1985 – The General Jackson Showboat is christened and begins operation, bringing a new, paddle-wheel dinner cruise and entertainment option to meeting and convention attendees, tourists, and area residents.
1983
October 1983 – Gaylord Opryland Hotel’s $50 million Conservatory expansion (467 new rooms) is completed, delighting guests with its expansive, glass-roofed tropical paradise.
September 1983 – Gaylord Broadcasting Company of Dallas, a subsidiary of the Oklahoma Publishing Company, buys Opryland properties and creates Gaylord Opryland USA.
March 1983 – The Nashville Network (TNN) is launched with a record 7 million subscribers. The new broadcast outlet offers cable and satellite viewers a taste of the Grand Ole Opry, in addition to a variety of country music performances, features, and interviews with country celebrities.
1977
November 1977 – The Opryland Hotel opens its doors, with 600 rooms and a staff of 381 employees committed to providing flawless service to their guests. By June 1978 the staffing levels were up to 700 employees as the property was running at full capacity.
1974
March 1974 –The Grand Ole Opry moves from the Ryman Auditorium to the Grand Ole Opry House at Opryland USA.
1972
May 1972 – Opryland USA theme park opens, drawing 54 million visitors over its span of 25 years in operation.
1970
June 1970 – Grand Ole Opry star Roy Acuff helps break ground for the Opryland USA theme park, Tennessee’s only theme park at the time.
1968
May 1968 – WSM-FM makes its debut as a 100,000 watt station at 95.5 MHz.
1943
June 1943 – The Grand Ole Opry, now performed before live audiences, moves to the Ryman Auditorium, its home for the next 31 years.
1941
March 1941 – Once again, WSM blazes the trail by giving America its first commercial FM station, W47NV (at 44.7 MHz), a 65,000-watt station reaching three states.
1928
December 1928 – The “WSM Barn Dance” officially becomes the Grand Ole Opry.
1925
November 1925 – The “WSM Barn Dance” Saturday night radio program is launched.
October 5, 1925 – Radio Station WSM goes on the air as a service of the National Life & Accident Insurance Company (NLT). The WSM call letters are chosen as a representation of NLT’s motto, “We Shield Millions.”
Notable Products / Brands
Gaylord Hotels, ResortQuest Vacation Home Network, Grand Ole Opry
Notable Accomplishments / Recognition
*Gaylord Hotels voted best overall hotel by "Meeting News."
*Gaylord Opryland Resort and Gaylord Palms Resort earned "Gold Key Elite" and "Gold Platter Elite" awards from "M&C Magazine," the only hospitality brand with two properties so honored.
*Gaylord Texan Resort named "2005 Project of the Year" by American Lodging Investment Summit.
*Gaylord Texan Resort selected 2004 "Employer of the Year" by Dallas Business Journal.
*Ryman Auditorium named "Theater of the Year" for 2003 and 2004 by Pollstar Magazine.
Benefits
Full-time employees of Gaylord Entertainment Company are eligible for discounted rates at Gaylord Hotels in Florida, Texas and Tennesee, and at ResortQuest vacation properties throughout the United States. Employees also are eligible for discounted tickets to performances at the Grand Ole Opry, Ryman Auditorium and Wildhorse Saloon and the General Jackson showboat.