Shareholders of Gaylord Entertainment will vote Tuesday on the company's proposed sale of its four hotel/convention center complexes to Marriott International Inc. and its planned conversion into a real estate trust. If they approve the $210 million deal, they will wake up Oct. 1 as owners of Ryman Hospitality Properties.
Gaylord execs on Monday officially changed the name of what will become the new REIT entity from Granite Hotel Properties, the initial moniker they chose early this summer. The change reflects their plans to have the Ryman brand, along with the Grand Ole Opry and WSM-AM, play a prominent role in their future operations. Chairman and CEO Colin Reed earlier this month called those properties "iconic" and vowed to keep them under his team's umbrella after major shareholder Mario Gabelli proposed they be spun off into a separate company.