Gibson Aids Marriott In $210M Buy Of Gaylord Hotel Rights

Law360, New York (May 31, 2012, 4:00 PM EDT) -- Gaylord Entertainment Co. has agreed to sell its hotel brand and management rights to Marriott International Inc. for $210 million after deciding to restructure itself into a real estate investment trust, the entertainment and hotel company announced Thursday.

The cash deal gives Marriott four Gaylord Hotels-branded operations, though Gaylord Entertainment will continue to hold on to the properties as it takes steps to become an REIT. Marriott has agreed to ink an initial 35-year term management contract that gives it a 2 percent base management fee...
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