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Press Release: Gaylord Entertainment Company
November 19, 2003
NASHVILLE, TN -- Gaylord Entertainment Company (NYSE: GET; "Gaylord") and ResortQuest International Inc.
(NYSE: RZT; "ResortQuest") yesterday announced that ResortQuest's stockholders voted overwhelmingly to
approve Gaylord's proposed acquisition of ResortQuest in a stock-for-stock transaction, and that Gaylord's stockholders
voted overwhelmingly to approve the issuance of shares of Gaylord common stock in the acquisition.
As consideration for the merger, ResortQuest stockholders will receive 0.275 shares of Gaylord common stock for
each share of ResortQuest common stock they hold, plus cash in lieu of fractional shares. The transaction is currently
expected to close later this week.
"Upon completion of this acquisition, Gaylord Entertainment will become a multi-product hospitality company
that offers an impressive range of accommodations to convention, business and leisure travelers," said Colin
Reed, president and chief executive officer of Gaylord Entertainment. "ResortQuest's high-quality vacation
rental properties are complementary to both our meetings-focused Gaylord Hotels brand and our 'country lifestyle'
Grand Ole Opry brand. We will cross-promote these three unique brands, giving particular attention to developing
widespread awareness of the ResortQuest brand among Gaylord's existing customer base."
About Gaylord Entertainment
Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns
and operates Gaylord Hotels branded properties, including Gaylord Opryland Resort & Convention Center in Nashville,
Gaylord Palms Resort & Convention Center in Kissimmee, Fla., and the nearly completed Gaylord Opryland Texas
Resort & Convention Center in Grapevine, Texas. The company's entertainment brands and properties include the
Grand Ole Opry and WSM-AM Radio, Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Springhouse
Golf Club and Wildhorse Saloon. For more information about the company, visit www.gaylordentertainment.com.
About ResortQuest International
ResortQuest International, the first brand name "real-time" online booking service (www.resortquest.com)
in vacation condominium and home rentals and sales, provides a one-stop resource in more than 50 premier resort
destinations in the U.S. and Canada. ResortQuest is the nation's leading vacation rental property management company,
based on a portfolio of approximately 20,000 vacation rental properties with a combined real estate value estimated
in excess of $7.0 billion. For more information about the company, visit www.resortquest.com.
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Contact:
INVESTOR RELATIONS
Gaylord Entertainment
David Kloeppel, 615-316-6101
dkloeppel@gaylordentertainment.com
or
Jason Morgan, 615-316-6561
jmorgan@gaylordentertainment.com
or
Sloane & Company
John Fernquest, 212-446-1889
jfernquest@sloanepr.com
or
MEDIA CONTACTS
Gaylord Entertainment
Jim Brown, 615-316-6302
jbrown@gaylordentertainment.com
or
Sloane & Company
Dan O'Connor, 212-446-1865
doconnor@sloanepr.com
Source: Gaylord Entertainment Company