X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PRINCE GEORGE’S COUNTY, MD-Plans for Gaylord Entertainment Co.’s National Harbor hotel and retail complex were thrown for a loop in the aftermath of last year’s terror attacks, but the Nashville-based hospitality and entertainment property developer has gotten back on track and is moving forward with the proposed $560-million endeavor. The hotel, retail and convention center facility is to be the centerpiece of the grander $2-billion National Harbor project, conceived by local developer The Peterson Cos.

Gaylord’s portion of the massive National Harbor endeavor centers on an opulent hotel property that will sit on a 40-acre parcel along the banks of the Potomac River. “The luxurious 1,500-room hotel will also have 400,000 sf of state-of-the-art meeting and convention space,” Gaylord Entertainment Co. director of corporate communications Jim Brown tells GlobeSt.com. “We anticipate hiring approximately 1,500 employees and opening in 2006.” Since Gaylord decided to continue with the project, a great deal of progress has been made in getting the requisite local government approvals. “Enabling legislation that is still subject to further agreements with the county was passed October 16,” Brown notes. “These issues include an examination of the tax revenue generated from our project, and ultimately, the bond issuance. And we are continuing to work on architectural and engineering aspects of the project.”

Upon completion, Gaylord will serve as managers for the hotel property, which will significantly increase the number of hotel rooms in the area, as well as generate additional revenue in the county. As of April 2002, Prince George’s County was home to approximately 6,600 hotel rooms and expected to reap $4.1 million in hotel tax revenue for fiscal year 2003. The entire National Harbor development, which is to be completed around 2007, could end up being as large as seven million sf, and will most certainly include other hotel developments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.