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VOL. 127 | NO. 189 | Thursday, September 27, 2012

Gaylord Shareholders Vote to Reorganize as Investment Trust

AP

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NASHVILLE (AP) – Gaylord Entertainment Company shareholders have approved a plan to reorganize as a real estate investment trust and turn over management of its four resort properties to Marriot International Inc.

The plan was approved by approximately 74 percent of the company's outstanding shares on Tuesday at a special shareholder meeting.

According to a news release from the company, the newly formed Ryman Hospitality Properties, Inc., will be publicly traded on the New York Stock Exchange under the ticker symbol RHP beginning Oct. 1.

At that time, Gaylord Entertainment Company will cease to exist and Marriott will assume management duties.

Ryman Hospitality will be taxed as a REIT for federal income tax purposes beginning on Jan. 1. It will be led by current Gaylord Chairman and CEO Colin Reed.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 91 211 9,027
MORTGAGES 117 294 12,146
FORECLOSURE NOTICES 0 39 2,467
BUILDING PERMITS 349 537 20,378
BANKRUPTCIES 73 195 7,821
BUSINESS LICENSES 22 58 3,282
UTILITY CONNECTIONS 127 351 11,374
MARRIAGE LICENSES 20 93 2,761

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