Marriott International Inc. has announced plans to acquire the Gaylord brand, and management of the Gaylord Entertainment Company's four U.S.-based hotels for US$210 million, conditioned on legalese (shareholder approval of Gaylord's conversion into a real estate investment trust). Gaylord will continue to own its existing hotels and Marriott will assume management of them under long-term agreements. The transaction will add 4 hotels and approximately 7,800 rooms to Marriott’s portfolio: the Gaylord Opryland in Nashville, Tennessee; the Gaylord Palms in Kissimmee, Florida (near Orlando); the Gaylord Texan on Lake Grapevine near Dallas; and the Gaylord National on the Potomac in National Harbor, Maryland (near Washington, D.C.)—that's a total of 2 million square feet of meeting and event space. The transaction is expected to close by October. For more information, read the Washington Post article here.

Gaylord Entertainment plans to develop a resort and convention hotel in Aurora, Colorado, less than a 10-minute drive from Denver International Airport and 25 minutes from downtown Denver. The company expects the resort to be open for business in mid-to-late 2015. According to Gaylord's research of major meetings markets, planners rate the Denver metropolitan area as a Top 10 destination.

The project is expected to cost about US$800 million and will be funded by Gaylord, potential joint venture partners and tax incentives provided by the city of Aurora. Under this agreement, the city pledges to collect virtually all of the new taxes generated by the Gaylord Resort and Convention Center and reinvest them into the project. Components of the financial plan will require agreement by additional local jurisdictions and selection by the State of Colorado as a recipient of funds from the recently enacted Regional Tourism Act. 

During the next 12 months, Gaylord will continue to work with city, county and state officials to secure the necessary approvals required for the incentive plan and for construction to commence. Gaylord hopes to break ground on construction in mid-to-late 2012.

The property is expected to initially feature1,500 guest rooms, 400,000 square feet of exhibition and meeting space and a dramatic atrium setting offering panoramic views of the Rocky Mountain vista. 

Gaylord Entertainment plans to cut energy consumption and greenhouse gas emissions by 20 percent by 2015. The announcement coincides with the launch of GET Green, the company’s corporate sustainability program, which will integrate in its overall business strategy and focus on reducing Gaylord’s impact on the environment. The company will also pursue LEED certification for all future developments, including major additions and new builds. Gaylord hired Andy Mims in 2010 to create the Office of Sustainability and to oversee efforts across the entire organization.

Initially, GET Green will build off three major environmental focus areas: energy efficiency and emissions reduction, waste reduction and water conservation. The company has already started working with its supply chain, improving operational practices and enhancing its employee (star) training. Staff members will drive the development and implementation of initiatives. Accordingly, at every hotel, Gaylord has created GET Green Teams, which meet regularly to generate ideas for improvement and implement key measures.