Gaylord Entertainment 2nd-qtr room revenue rises despite shutdown of flooded Nashville hotel
By APMonday, July 12, 2010
Gaylord 2Q revenue up despite Nashville closure
NASHVILLE, Tenn. — Gaylord Entertainment Co. on Monday said its second-quarter revenue per available room rose, despite the shutdown of one of its four hotels because of flooding.
The Gaylord Opryland has been closed since the first week of May because of major flooding in Nashville. Through June 30, advance reservations for 273,151 room nights were canceled at the severely damaged hotel.
The company has worked to transfer conventions scheduled for that facility to other properties. Advance bookings through June 30 included 43,645 flood-impacted room nights that were transferred to other Gaylord hotels, the company said.
Revenue per available room, an important gauge of a lodging operator’s performance, rose 5.7 percent at its properties in Kissimmee, Fla.; Grapevine, Texas and National Harbor, Md.
Total revenue per available room, which includes food and beverage sales and other services, rose 4.7 percent at the three remaining hotels.
Gaylord Entertainment is scheduled to post full second-quarter results before the market opens on Aug. 3.
In afternoon trading, Gaylord shares added 47 cents, or 2 percent, to $24.90. The stock has changed hands between $10.22 and $34.55 in the past 52 weeks.
