Analysts say some investors balked at the so-called takeover attempt, while others are open to a new direction for the hotelier.
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“Anyone looking at stock returns can see this company has not done well,” says Nell Minow, editor of The Corporate Library. “The question is whether anybody that challenges it can do better.”
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Texas billionaire Robert Rowling, owner of investment firm TRT Holdings, which owns luxury hotel brand Omni Hotels, told shareholders last week that he planned to nominate himself and three other directors to Gaylord’s board, criticizing the company’s poor performance and bad business decisions.
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Mr. Rowling said, "We believe that we can assist the Board and management team in their efforts to create value for all Gaylord shareholders. We approached Gaylord's Board and management in an attempt to discuss improving the Company's financial and operating performance and were rebuffed. As a result, we have decided to take our message directly to Gaylord's shareholders. TRT seeks to bring a disciplined business approach, accountability to shareholders, and a fresh perspective based on industry experience. We believe that Gaylord's Board and management have failed to adequately deliver in these areas."
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About TRT Holdings
TRT Holdings is a privately-owned, diversified holding company located in Irving, Texas. Assets include the luxury hotel brand, Omni Hotels, Gold's Gym International, Tana Exploration, Waldo's Dollar Mart in Mexico and numerous investments in public companies and various real estate ventures.
