{"id":1004135293,"date":"2016-01-22T07:42:36","date_gmt":"2016-01-22T15:42:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004135293"},"modified":"2020-04-07T11:45:10","modified_gmt":"2020-04-07T19:45:10","slug":"gaylord-texan-resort-and-convention-center-gets-120m-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gaylord-texan-resort-and-convention-center-gets-120m-expansion\/","title":{"rendered":"Gaylord Texan Resort and Convention Center Gets $120M Expansion"},"content":{"rendered":"

By Adelina Osan, Associate Editor<\/em><\/p>\n

Grapevine, Texas<\/strong>\u2014Ryman Hospitality Properties Inc.<\/a>\u00a0recently announced plans to expand Grapevine\u2019s Gaylord Texan Resort and Convention Center<\/a>. The $120 million expansion will add more guestrooms and meeting space, making Gaylord Texan\u00a0the second largest non-gaming convention center hotel in the U.S. as measured by total self-contained exhibit and meeting space.<\/p>\n

\"Gaylord<\/a>

Gaylord Texan Resort and Convention Center<\/p><\/div>\n

The expansion project will add 300 guest rooms to the resort\u2019s current 1,511 room inventory and an additional 86,000 square feet of carpeted meeting space, bringing the total meeting space to approximately 490,000 square feet. The project\u2019s 300 hotel rooms and accompanying 286 square feet of carpeted meeting space per key has a preliminary total cost per key of $383,000.<\/p>\n

\u201cFor the past 12 months, we have talked about the strength in our business and the large group segment as a whole, where we are seeing increased demand for rooms and meeting space across our portfolio. At the same time that we are seeing this increased demand, we are also seeing almost no new competitive supply of this scale under construction for the foreseeable future, outside of the Gaylord Hotels brand. We view this expansion as a perfect opportunity to cement our unique position in the large group meetings market with a very efficient use of the company\u2019s capital,\u201d said in prepared remarks Colin Reed, chairman & CEO of Ryman Hospitality Properties.<\/p>\n

\"Gaylord<\/a>

Gaylord Texan Resort and Convention Center<\/p><\/div>\n

The City of Grapevine<\/a> has agreed to rebate $1 million of the hotel\u2019s guestrooms tax annually for a ten-year period upon the completion of the expansion, for a total of $10 million in city incentives.<\/p>\n

\u201cThis investment at Gaylord Texan is also a continued investment in Grapevine and its citizens. We look forward to its completion and the additional visitors we will welcome to our great city as a result,\u201d said William Tate, Mayor of Grapevine.<\/p>\n

Images courtesy of\u00a0Gaylord Texan Resort and Convention Center\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Ryman Hospitality Properties announced that an expansion worth $120 million is in store for Gaylord Texan Resort and Convention Center.<\/p>\n","protected":false},"author":735,"featured_media":1004135299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21783,21742],"tags":[],"class_list":["post-1004135293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-investment","category-latest"],"acf":[],"yoast_head":"\nGaylord Texan Resort and Convention Center Gets $120M Expansion - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gaylord-texan-resort-and-convention-center-gets-120m-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaylord Texan Resort and Convention Center Gets $120M Expansion\" \/>\n<meta property=\"og:description\" content=\"Ryman Hospitality Properties announced that an expansion worth $120 million is in store for Gaylord Texan Resort and Convention Center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gaylord-texan-resort-and-convention-center-gets-120m-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-01-22T15:42:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-07T19:45:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Gaylord-Texan-Resort-and-Convention-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"344\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adelina Osan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gaylord-texan-resort-and-convention-center-gets-120m-expansion\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/gaylord-texan-resort-and-convention-center-gets-120m-expansion\/\",\"name\":\"Gaylord Texan Resort and Convention Center Gets $120M Expansion - 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