FBR Capital maintains an 'Outperform' on Gaylord Entertainment (GET); Thoughts Following Meetings with GET
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Price: $1.88 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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FBR Capital maintains an 'Outperform' on Gaylord Entertainment (NYSE: GET).
FBR analyst says, "Last Friday, we toured GET’s D.C. National Harbor Hotel and held meetings with David C. Kloeppel, President and Chief Operating Officer. The hotel continues to gain traction and has plans to add an additional 19,000 SF of waterfront function space. Additionally, further redevelopment of the area around the hotel (we heard of construction likely beginning on a new Tanger Outlet mall in the area sometime next year) would likely also help increase transient/weekend demand for the facility. In our view, while the outlook for the D.C. market remains slightly subdued in 2011-2012 on expectations of slightly lower government spend (government groups/associations represent about a third of the hotel’s revenue base), the hotel remains competitive on account of its substantial meeting and exhibition space, which is one of the largest of its kind along the East coast (Orlando and Boston, being the closest competitors)."
"In terms of growth opportunities, we sensed that GET continues to look for new opportunities “west of Mississippi” (including outside of Denver, as has been recently reported in the press but has not been confirmed by GET)..."
For more ratings news on Gaylord Entertainment click here and for the rating history of Gaylord Entertainment click here.
Shares of Gaylord Entertainment closed at $28.50 yesterday.
FBR analyst says, "Last Friday, we toured GET’s D.C. National Harbor Hotel and held meetings with David C. Kloeppel, President and Chief Operating Officer. The hotel continues to gain traction and has plans to add an additional 19,000 SF of waterfront function space. Additionally, further redevelopment of the area around the hotel (we heard of construction likely beginning on a new Tanger Outlet mall in the area sometime next year) would likely also help increase transient/weekend demand for the facility. In our view, while the outlook for the D.C. market remains slightly subdued in 2011-2012 on expectations of slightly lower government spend (government groups/associations represent about a third of the hotel’s revenue base), the hotel remains competitive on account of its substantial meeting and exhibition space, which is one of the largest of its kind along the East coast (Orlando and Boston, being the closest competitors)."
"In terms of growth opportunities, we sensed that GET continues to look for new opportunities “west of Mississippi” (including outside of Denver, as has been recently reported in the press but has not been confirmed by GET)..."
For more ratings news on Gaylord Entertainment click here and for the rating history of Gaylord Entertainment click here.
Shares of Gaylord Entertainment closed at $28.50 yesterday.
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