NASHVILLE, TN— Gaylord Entertainment Co. reported that in the fourth quarter 2001 revenues from continuing operations were $88.3 million, an increase of 1.1% from $87.3 million in the same quarter last year. As a result of the companys previously announced corporate reorganization, Gaylord has reclassified its operating segments— hospitality, attractions, media, corporate and other. The hospitality segment comprises the operations of Gaylord Hotels properties and the Radisson Opryland. Revenues for the hospitality segment were $64.6 million as compared to $65.1 million in the fourth quarter of 2000. EBITDA from continuing operations, excluding hotel pre-opening costs, was $11.6 million in the fourth quarter of 2001, compared with EBITDA of $12.1 million in the fourth quarter of 2000. EBITDA from the hospitality segment, excluding hotel pre-opening expenses, decreased to $16.5 million in the fourth quarter of 2001 from $23.4 million in the fourth quarter of 2000. Hotel pre-opening expenses were $7.7 million for the fourth quarter of 2001 compared to $1.2 million in the same quarter last year. Operating losses from continuing operations were $13.7 million in the fourth quarter of 2001 compared to operating losses of $97 million in the fourth quarter of 2000. The operating income of the hospitality segment, excluding hotel pre-opening expenses, was $10 million in the fourth quarter of 2001 compared to $17 million last year. During the fourth quarter of 2001, the Company recorded restructuring charges of $4.5 million in continuing operations related to the previously announced elimination of certain corporate overhead.
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