Shares of Gaylord Entertainment have been hammered in the past six months in part because of broader worries about the economy. But it's also because investors haven't appeared too keen on the company's strategy of holding back on booking some future rooms because it believes rates will go up. Buying into that passing-on-a-buck-today-to-get-two-tomorrow strategy is tough when we're still chugging along , but CFO Mark Fioravanti this week reiterated that stance before analysts and investors at a Deutsche Bank conference.
Fioravanti said Gaylord sees the average daily rate for its group bookings next year will be up from 2010 by high-single to low-double-digits. That numbers should grow even more in 2013, he added. Because of its strategy, Gaylord's advance bookings for that time span and beyond are running behind by a few points compared to the past. No worries, though.
"We believe '14 and '15 will be very good years for the hospitality industry," Fioravanti said. "We want to make sure we're capturing the upside in terms of rate."
Almost 806,000 passengers got on or off planes at Nashville International Airport last month, a 4.3 percent increase a year ago. The rise was the 13th straight year-over-year increase and made up for a sluggish July, when traffic climbed only 1.1 percent. Check out more stats here.
Analyst at Deutsche Bank Securities have launched coverage of a group of hospitality and gaming companies — Gaylord Entertainment among them — with mixed ratings based on their exposure to international growth, which will be fare better than the U.S. market. That puts Gaylord shares (Ticker: GET) — which hit a 2011 low on Wednesday and are down 45 percent this year — in the 'hold' camp along with Choice and Host.
"Our analysis leads us to the conclusion that 2012 may well be a bumpy year for domestic lodging fundamentals. However, given our view that current valuations in the sector reflect a less optimistic outlook for 2012 RevPAR performance than our current forecast, we believe long opportunities exist."
The last few months of Smith Travel Research hotel demand data for the nation's largest markets shows a smooth peak and drop over 2010, which means things are likely to get bumpy for facility owners and managers. The good news: Rates are holding up so far and operators are being smart about adding new rooms to the market.
Seven-year-old CareHere on Thursday opened the doors to its walk-in clinic in Nashville International Airport. The 1,100-square-foot facility will offer basic medical care as well as various wellness products at a store. President and co-founder Ernie Clevenger is obviously targeting travelers but says the model also caters to airport workers and hinted at expanding the concept nationwide.
The air connection between Nashville International Airport and Jackson's McKellar-Sipes Regional Airport may not be there after Aug. 31, when the federal government will stop subsidizing the route that is now being operated by Pacific Wings. Airport officials say they haven't heard from Pacific Wings officials about their intentions, but they don't expect good news.
The number of people getting on and off planes at Nashville International Airport rose by a little over 5 percent in June. Traffic for the facility's fiscal year ended June 30 also rose about 5 percent to 9.4 million.
SEE ALSO: Past months' data from the BNA site
The popular ICE! exhibit at the Gaylord Opryland Resort & Convention Center will this year feature prominently the characters from the Madagascar movies, the result of Gaylord's alliance with DreamWorks. The two companies are rolling out similar attractions of Gaylord's other properties and tying in other attractions featuring Madagascar and Shrek themes. In addition, the long-running A Country Christmas show at Opryland will introduce a new Louise Mandrell show and a Holly Jolly Town Square attraction.
St. Louis airport officials have, after nine years of working with Central Parking, selected another contractor to manage its roster of almost 9,000 spaces. Nashville-based Central Parking was outbid by Ampco System Parking. The new three-year deal is worth about $2 million.