Gaylord To Lay Off Almost 200 Employees
About 310 employees of Gaylord Entertainment will be affected as part of a pending deal for Marriott to manage Gaylord’s four resort hotel properties. Prior to Sept. 30, about 120 employees will transition to Marriott’s payroll and the remainder will exit the company.
The $210 million transaction was announced in May and is pending shareholder approval. The Nashville Post reports Gaylord is fending off opposition from its largest shareholder, TRT Holdings.
Gaylord, which will still own the hotels, hopes to save money by becoming a real estate investment trust and letting Marriott operate the properties.
When the deal is complete, it is expected that Gaylord will employ about 4,000 workers in the Nashville area, including its operations at Opry Mills, the Grand Ole Opry House, the Ryman Auditorium, WSM-AM and the newly formed Real Estate Investment Trust.
