Gaylord and the Unified Port will now begin working through the details of Gaylord's proposal to build a 1,500- 2,000 room hotel with 400,000 to 500,000 square feet of convention and meeting space. If Gaylord and the Unified Port are able to reach agreement on terms acceptable to both parties, Gaylord will anchor a multi-use development on 550 acres of waterfront property. 

"This is an exciting step in Gaylord's efforts to offer an upscale convention and resort on the West Coast," said Colin V. Reed, Gaylord chairman and chief executive officer. "The Port has been diligent in seeking a partner with the expertise and financial resources to help develop the Chula Vista Bayfront Master Plan into a world-class resort destination. We are pleased to be chosen and hope to finalize this agreement with the Port in the near future." 

"Our meeting and convention planners tell us they want to be able to rotate the meetings they bring to our other properties to a Gaylord property on the West Coast. Both our clients and our shareholders will benefit from expanding our reach to properties throughout the country," Reed said. 

Gaylord's proposal calls for an "everything-in-one-place" development with the hotel, convention and meeting space, multiple restaurants and entertainment venues under one roof. The company's group-focused rotation strategy of attracting meetings to its hotels repeat times will create significant and recurring economic impact for the greater Chula Bay community. 

About Gaylord Entertainment 
Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates three industry-leading brands - Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts, ResortQuest (www.resortquest.com), the nation's largest vacation rental property management company, and the Grand Ole Opry (www.opry.com), the weekly showcase of country music's finest performers for 80 consecutive years. The company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Springhouse Links, Wildhorse Saloon, and WSM-AM. For more information about the company, visit www.gaylordentertainment.com. 

Gaylord Hotels is owned and operated by Gaylord Entertainment. Gaylord currently operates three major convention and resort properties in key convention markets - Nashville; Orlando, Fla., and Grapevine, Texas, near the Dallas-Fort Worth airport. Gaylord National, a fourth property under construction in Prince George's County, Md., near Washington, D.C., will open in 2008. 

Gaylord Entertainment
www.gaylordhotels.com