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Joint Venture by Dollywood and Gaylord Entertainment


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Dollywood and Gaylord Entertainment have announced a joint venture to bring a water and snow park to Nashville.

Two of the biggest names in Tennessee tourism are teaming up to bring family entertainment back to Nashville. Gaylord Entertainment (NYSE: GET) and Dolly Parton’s Dollywood Company have entered into a memorandum of understanding (MOU) for a 50/50 joint venture to develop a 105-acre family entertainment zone adjacent to the Gaylord Opryland Resort & Convention Center. The Dollywood Company will serve as the operating partner. Phase one of the project is a yet unnamed $50 million water and snow park, the first of its kind in the U.S. A fall 2012 groundbreaking date is expected with the park opening slated for summer of 2014.

The water and snow park will anchor the project which offers room for future expansion. The park will provide a mix of high energy water activities for the summer season and designated snow activities for winter play. Once open, first year attendance is projected at 500,000, a large portion of which will come from out of state, bringing in substantial tourism revenue to Tennessee and Nashville. Dollywood expects to employ 450 full- and part- time employees, including the construction phase and once the facility is operational.

EDIT:

http://www.dollywood.com/press-c1-Press_Release_Listing.aspx

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