What’s next for Gaylord?
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Gaylord Hotels has closed its doors after more than a decade in business, the company said in a statement.
“The closing of the Gaylord hotel and casino in Wisconsin is a significant event for the company and the entire Gaylord family,” it said.
Gaylord was the first hotel to open in Wisconsin in 1987 and has been a leader in hospitality, serving Wisconsin customers and residents since its establishment in 1994.
Gaylords is one of the largest privately held hotel operators in the US, with a presence in more than 30 states.
The company said the closure of the Wisconsin hotel would be a significant loss to the company’s bottom line and the community.
“We are very sad to report the Gaylords closing in Wisconsin.
The Gaylord franchisee’s commitment to the community, our guests and employees has been our cornerstone,” the statement said.
“With this decision, the franchisee is closing its doors and the remaining assets will be put into a separate, independent fund.”
Gaylord did not say how much money the company will lose.
The hotel closed its first casino, the Grand, in 2012 and is planning to open another in 2021.
The last Gaylord casino opened in California in 2014, and the company has struggled with high occupancy and poor revenue growth in recent years.
Gaylots gaming room, which had a capacity of 12,500, is one part of the company.
Gayland, the hotel chain with a total of more than 20,000 properties in 24 states, said in the statement it was evaluating a number of options to close its operations, including bankruptcy and a sale.
It did not name those options.
Gayllons gaming room was one of four gaming rooms at the Grand in Wisconsin, which was the last in the state, and was used for gambling until last year.
The Grand was one out of the six rooms at Gaylord that had been used for gaming.
In May, the Wisconsin Gaming Commission ordered Gaylord to close, citing poor occupancy and other issues, but it appealed.
GayLords website was taken offline on Saturday.
Gaylon said it would not discuss the closure.
“This is a very difficult time for all of us.
We will continue to work with our customers, franchisees and partners in the business, as we continue to make progress towards a long-term solution,” Gaylord said in an emailed statement.
The decision follows an announcement in July that the Grand would close, with plans to reopen by late 2021.
Gaylotts casino will be located in a renovated building in downtown Madison, the state’s largest city, the statement read.
“Gambling is not just about winning or losing money, but about enjoying the community and the enjoyment of our guests, as well,” Gaylott said.
Gaylord Hotels has closed its doors after more than a decade in business, the company said in a statement.“The closing…