GAMCO Investors, Gaylord Entertainment’s second-largest shareholder, is to oppose the sale of the group’s hotel management rights to Marriott International and its reorganisation into a real estate investment trust.

Gaylord's second-largest shareholder, GAMCO Investors, has said it opposes Gaylord’s converting to a REIT and the sale of its brand name and hotel management rights to Marriott International for US$210 million; it has announced its intentions to vote against the move in a meeting scheduled for September 25th. GAMCO, which has a 13.2% stake in Gaylord, is not the first shareholder to oppose the reorganisation plans, TRT Holdings having done the same in July.The plans are nonetheless expected to go ahead, a spokesman for Gaylord, Brian Abrahamson, stating, “We respect the right of all of our stockholders to vote in accordance with their views. Our board of directors...continues to believe that the proposed REIT transaction is in the best interest of all our stockholders."