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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 This material may not be published, broadcast, rewritten or redistributed.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 58 365 13,948
MORTGAGES 71 419 16,203
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 169 900 28,963
BANKRUPTCIES 59 237 9,275
BUSINESS LICENSES 32 97 4,577
UTILITY CONNECTIONS 43 232 10,191
MARRIAGE LICENSES 16 78 3,334

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