In special meeting regarding Gaylord Entertainment’s plans for reorganisation, 85% of shareholders present have voted in favour of the move despite initial opposition by Gaylord’s second-largest shareholder, GAMCO Investors, earlier this month.

A majority of the 87% of shareholders that were present at the meeting voted in favour of the Gaylord’s plans for reorganisation, which includes the sale of the group’s hotel management rights to Marriott International and its conversion into a real estate investment trust.Tennessee-based Gaylord will become a REIT under the name 'Ryman Hospitality Properties' and Marriott International will take over the Gaylord hotel brand and management rights of four properties: the Gaylord Opryland Resort and Convention Center, Gaylord Palms Resort and Convention Center, Gaylord Texan Resort and Convention Center, and Gaylord National Resort and Convention Center (pictured above). in total this amounts to 7,800 rooms. As part of the agreement Gaylord will continue to own the assets.85% of shareholders voted in favour despite GAMCO Investors and TRT Holdings both opposing the move at some stage. An estimated US$33 million to US$40 million is expected to be saved through the selling of the Gaylord Hotels brand.Colin Reed, Gaylord’s Chairman and CEO, said: “We have expertise on group business. The REIT will focus on group-oriented resorts. We, in the future, won’t have to be focused on hotels branded Gaylord.”