Gaylord Entertainment Streamlines Corporate Organization Saving $8 Million Annually; Company Adds Jay Sevigny as Senior Vice President, Marketing and Attractions.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--Oct. 31, 2001

Gaylord Entertainment Company (NYSE:GET), the diversified hospitality and entertainment company whose holdings include the Gaylord Hotels and the Grand Ole Opry, today announced a corporate reorganization aimed at streamlining operations and taking duplicative costs out of the business. The company will reduce management layers to create a more cross-functional leadership team with a strategy that links each of the company's businesses to support Gaylord's overarching focus on its core branded businesses in hospitality, attractions and entertainment.

"We've spent time looking at the best corporate structure, one that will foster an environment of innovation, growth, and a strong emphasis on our customers and building our brands," stated Colin V. Reed, chief executive officer of Gaylord Entertainment. "We believe this new structure accomplishes these goals and will enable Gaylord to be an industry leader."

The reorganization is designed to speed decision-making and empower the management team to grow and re-energize the company. The new structure eliminates the company divisions referred to as Opryland Hospitality Group and Music, Media and Entertainment, along with the accounting, financial, technology, marketing and communications functions in these divisions. Many of the individuals in these divisions have been transitioned into existing or new corporate departments. As a result of this reorganization, Gaylord announced a job reduction of 39 people. The company will save approximately $8 million in overhead annually.

The reorganization fits in with Gaylord's previously announced hotel re-branding and renewed focus on the company's distinctive offerings in the hospitality and convention business. Property general managers will now report directly to Colin Reed. The Design and Construction division, which is integral to Gaylord's continued success in the hospitality industry, Acuff-Rose Music Publishing, Word Entertainment and Gaylord's radio stations will also report to Mr. Reed.

Mr. Reed also announced the appointment of Jay Sevigny to the newly created position of Senior Vice President, Marketing and Attractions. Sevigny comes from Harrah's Entertainment where he was most recently the President of Rio Suites and Hotel. In his new position he will have an operational and marketing focus, and be responsible for the brand marketing of the hospitality division.

"I am extremely pleased to add Jay Sevigny to the Gaylord Entertainment management team," commented Reed. "Jay has a keen understanding of the needs of the customer and I am fully confident that he brings the type of strategic and innovative leadership that we are looking for. His consumer marketing focus and operations experience will be invaluable as we drive business to our core hotel and convention brand through our entertainment and hospitality holdings such as the Grand Ole Opry and Corporate Magic."

Sevigny joins Gaylord immediately and will oversee the development of the Gaylord Hotel brand marketing function, management of the Grand Ole Opry, and the attraction side of the business such as General Jackson Showboat, the Ryman Auditorium and Springhouse Golf Club. In addition, he will be responsible for Corporate Magic, an event management and corporate production company.

Gaylord Entertainment is a diversified hospitality and entertainment company headquartered in Nashville, Tenn., and its stock is traded on the New York Stock Exchange (symbol: GET). Among its businesses are the Gaylord Hotels, the Grand Ole Opry, Acuff-Rose Music Publishing, WSM Radio and Word Entertainment.