Opryland Hotel has returned to being the biggest revenue generator for Gaylord Entertainment, after closing for six months to make repairs from last year’s flood. However, revenue across the company is down, with a decline in occupancy at its Washington D.C. hotel.
Nashville-based Gaylord turned in a small loss of $2 million for the first quarter Tuesday.
CEO Colin Reed also described the business-logic behind a new initiative in which Dreamworks characters like Shrek will show up at children’s overnight birthday parties. He says it’s a way to fill rooms between conventions and business meetings.
“We operate fabulous assets that our customers really like that are empty 20 to 25 percent of the time. Now we have the opportunity to create exclusive, fun filled family vacations in periods that we have been historically slow.”
Reed says otherwise Gaylord is forced to offer steep discounts on rooms.
Despite the first quarter loss, the hotel chain reports signs that what it calls “lodging fundamentals” are improving.