May’s flooding is front and center in Nashville-based Gaylord Entertainment’s financial results for the second quarter. Revenue for the hotel chain dropped 15% after the temporary closure of Opryland and other properties.
If not for Opryland, Gaylord would have had a good quarter, with revenue per available room up five percent. CEO Colin Reed says the hospitality environment is beginning to show signs of recovery, with advance bookings up for the third quarter in a row.
That recovery includes Opryland, which reopens in November. Groups have reserved more than 45,000 nights in 2011. Compared to the same period last year, that’s up nearly 130%. Reed calls it a “clear sign” that the nearly 3,000-room hotel will be back “better than ever.”
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