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NEW YORK (AP) — Gaylord Entertainment Co. said Friday it agreed to transfer four of its attractions in Nashville, Tenn., to Marriott International Inc. before the end of the year.
Marriott will take over management of the General Jackson Showboat, Gaylord Springs Golf Links, and Wildhorse Saloon starting Oct. 1. The Radisson Hotel Opryland will transition to Marriott on Dec. 1 and be renamed "Inn at Opryland, a Gaylord Hotel." Gaylord said terms of the deal will be set by Oct. 1.
On May 31, Gaylord said Marriott was buying the Gaylord Hotels brand and the right to manage the four Gaylord sites for $210 million. Gaylord said it will continue to own the assets and will reorganize itself as a real estate investment trust as of Jan. 1.
The Nashville-based company will still own and run The Grand Ole Opry and the Ryman Auditorium, as well as the radio station WSM-AM.
Shares of Gaylord Entertainment fell 19 cents to $40.85 on Friday, and Marriott International shares gained 62 cents to $41.60.