Hotel Online
News for the Hospitality Executive


Gaylord Entertainment Company Acquiring the Westin La Cantera Resort
in San Antonio, Texas for $252.5 million
Planning Three-year, $250 million Expansion

NASHVILLE, Tenn. November 26, 2007 - Gaylord Entertainment Company (NYSE: GET) today announced that it has entered into a definitive agreement to purchase the Westin La Cantera Resort in San Antonio, Texas for $252.5 million. The deal is expected to close in the first quarter of 2008 pending satisfactory completion of due diligence and other customary closing conditions. The acquisition will be financed using the Company’s existing line of credit. 

La Cantera Resort is one of the region’s most in-demand hotels for meetings and conventions. It has won numerous hospitality awards including the 2007 AAA Four Diamond Award, Conde Nast Traveler’s 2007 Gold List of “The Worlds Best Places to Stay” and the 2007 AAA Four Diamond Award Restaurant for Francesca’s at Sunset. Additionally, San Antonio is one the nation’s most popular tourist destinations, with nearly 21 million people visiting the city each year. 

The resort property includes approximately 508 rooms, 39,000 square feet of meeting space, two championship golf courses and is situated on 691 acres. Gaylord has also purchased approximately 90 acres of undeveloped land adjacent to the resort property. In addition to the purchase of the asset, Gaylord is planning an estimated three-year, $250 million expansion that will bring the resort to approximately 1,000 rooms and approximately 160,000 square feet of meeting space. Gaylord plans to complete the expansion in 2011, pending regulatory and board approvals. 

“The purchase of La Cantera marks an important step in our strategy to increase distribution through acquisitions,” said Colin V. Reed, chairman and chief executive officer of Gaylord Entertainment. “La Cantera is already a premier attraction for both leisure tourists and convention customers and will be a wonderful addition to our strong network of hotels. Further, the hotel has tremendous potential for growth as the substantial amount of land surrounding the hotel will afford us the opportunity to enhance the resort through additional long-term development.” 

Reed continued, “San Antonio is a top 10 convention destination and we will be entering the area with the premier property in the market, which will serve as an important component of our successful rotational strategy where our loyal customers book meetings at multiple properties over several years.” 

About Gaylord Entertainment 
Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates Gaylord Hotels (, its network of upscale, meetings-focused resorts and the Grand Ole Opry (, 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, Gaylord Springs, Wildhorse Saloon, and WSM-AM. For more information about the Company, visit

This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with economic conditions affecting the hospitality business generally, the timing of the opening of new hotel facilities, increased costs and other risks associated with building and developing new hotel facilities, the geographic concentration of our hotel properties, business levels at the Company’s hotels, our ability to successfully operate our hotels, our ability to obtain financing for new developments, and the possibility that our contemplated acquisition of the Westin La Cantera Resort as described herein will not be consummated. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the Securities and Exchange Commission and include the risk factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2006. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events. 

Gaylord Entertainment
Brian Abrahamson, 615-316-6302
Executive Director of Communications
Also See: Richard Roy Appointed Resort Manager for the The Westin La Cantera Resort, San Antonio / February 2007


To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch
Home | Welcome| Hospitality News | Classifieds| One-on-One |
Viewpoint Forum | Industry Resources | Press Releases
Please contact Hotel.Onlinewith your comments and suggestions.