Thank you for sharing!

Your article was successfully shared with the contacts you provided.

KISSIMMEE, FL-The three-year-old, 1,406-room, $450-million Gaylord Palms Resort and Convention Center posted a strong second quarter, increasing its revenue per available room to $345.76, up 14.3% from $302.56 in the prior-year quarter, reports the hotel’s parent, Nashville-based Gaylord Entertainment Co. The property is five miles southeast of Walt Disney World.

The increase was attributed to “a solid increase in food and beverage spending from group attendees,” Colin V. Reed, chairman and CEO of Gaylord Entertainment, says in a prepared statement. Revenue per available room, without counting food and beverage sales, rose to $132.60, up 5.5% from $125.71 a year ago.

Occupancy, however, was down marginally to 76.5% from 77.3% a year ago. That occupancy level was still ahead of an average 65% mark which the hospitality industry has long considered a break-even point for most hotels.

“Three years of laying the strong foundation for our hospitality brand by demanding the highest standards have come to fruition, as reflected by these results,” Reed says. “We continued our strong momentum in the hospitality segment, generating higher network-wide revenues and strong margin performance at all of our destinations.”

Consolidated cash flow, considered a vibrant barometer of a hotel’s daily financial health, increased 27.6% to $13.4 million, compared to $10.5 million in second quarter 2004 at Gaylord Palms Resort. Reed says that performance resulted in a consolidated cash flow margin of 30.2%, a 3.1 percentage point increased over the second quarter of 2004.

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?

Dig Deeper



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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.