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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 This material may not be published, broadcast, rewritten or redistributed.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 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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