Saturday, September 29, 2012

Dolly Parton Out of Nashville Water/Snow Park Project

Dolly Parton has dropped out of a plan to create a water and snow park in Nashville, TN, a $50 million project that would have been build adjacent to the Opryland Resort & Convention Center.

The owner of the Opryland Resort, Gaylord Entertainment, recently had a restructuring approved by shareholders that will see the company emerge as a real estate trust, and the sale of their resort properties, including Opryland, to the Marriott Group.

The original plans for the water park and season snow park called for a 50/50 ownership between Gaylord and Dollywood Company.  With Gaylord radically changing their purpose, Dolly felt it was best to pull out of the deal.

“Gaylord makes decisions that they feel are good for their company and their stockholders, and I have to make decisions based on what is best for me and the Dollywood Company.  I think everyone knows I love Nashville, and I hope the work we’ve already done will spark more family entertainment in Nashville.”

Gaylord Entertainment, which will soon become Ryman Hospitality Properties Inc., says it is planning on finding another partner to move the project forward.