Gaylord Entertainment Posts Wider Q3 Loss

Gaylord Entertainment posted a wider third-quarter net loss and said it is in talks to divest itself of two of its businesses.

Revenues for the third quarter of 2001 were $75.1 million, a decrease of $7.9 million from the $83.0 million recorded in the third quarter of 2000. Revenues for the hospitality and attractions segment were $58.8 million in the third quarter of 2001, a decrease of $3.2 million from the $62.0 million of revenues in the third quarter of 2000. Music, media and entertainment revenues were $16.3 million in the third quarter of 2001 as compared to revenues of $21.0 million in the third quarter of 2000, reflecting a revenue decrease of $4.7 million.

Gaylord is in talks to sell its Christian music label World Entertainment, and its artist management arm GET Management, allowing it to focus on its more profitable hospitality and entertainment businesses.

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