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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 This material may not be published, broadcast, rewritten or redistributed.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 85 354 12,626
MORTGAGES 113 438 16,470
FORECLOSURE NOTICES 21 98 3,290
BUILDING PERMITS 358 918 27,694
BANKRUPTCIES 55 276 10,490
BUSINESS LICENSES 18 120 4,204
UTILITY CONNECTIONS 78 429 16,350
MARRIAGE LICENSES 26 125 3,691

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