Denver Business Journal | Gaylord to reorganize, won’t proceed with Aurora hotel as planned

Gaylord Entertainment Co. said Thursday it will not proceed with its proposed Aurora hotel and convention complex “in the form previously anticipated” as it undergoes a company reorganization, including the sale of its hotel brand to Marriott International.

But Gaylord did not indicate it plans to cancel its plans for a 1,500-room, $824 million facility in Aurora near Denver International Airport, and in fact its chief executive Thursday called the proposed Colorado project “a screamer of a deal and a world-class hotel.”

In a conference call with analysts, Gaylord CEO Colin Reed said the company still believes the Aurora project “could be a significant project for Denver,” but the form in which it might take place is to be determined. It will be a vastly reduced financial involvement by Gaylord, however, he said.

Read more: http://www.bizjournals.com/denver/news/2012/05/31/gaylord-to-reorganize-wont-procede.html?ana=e_du_pap&s=article_du&ed=2012-05-31
Re-posted by: Crosbie Real Estate Group
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