Gaylord announces $800M Denver-area resort

After months of negotiations, Gaylord Entertainment this morning announced plans to build a new $800 million resort outside Denver.

The complex, located in Aurora, Colo., will feature some 1,500 rooms as well as 400,000 square feet of meeting space.

“We are in the very early stages of planning and will make certain that any project we pursue is done so under the appropriate economic conditions and provides the appropriate returns for our shareholders,” said Gaylord CEO Colin Reed.

Gaylord had previously stated [2] that it preferred being in a suburb like Aurora instead of within the Denver city limits, as the suburb would be able to provide a more attractive financial package in order to make the project viable.

The exact size and scope of the package the Aurora City Council approved last night has not been learned — initial reports put the total at up to $300 million [3] — but it was said that the city plans to “collect virtually all of the new taxes generated by the Gaylord Resort and Convention Center and reinvest them into the project.” Gaylord also said that some of the project's funding could come from potential joint venture partners.

Still in question is whether or not this morning’s announcement means that the previously discussed Gaylord project in Mesa, Ariz., is now off of the table. A call to Gaylord had not been returned at the time of publication. NashvillePost.com will update the story with any new details as they become available.