Posted at 12:20 p.m., Friday, June 1, 2007
Gaylord Entertainment completes ResortQuest sale
Advertiser Staff
Gaylord Entertainment Co. said it had completed its previously announced sale of its ResortQuest Hawaiian unit to Interval Acquisition Corp. for for $109 million.The buyer is a subsidiary of IAC/InteractiveCorp., a New York-based Internet and media company headed by media mogul Barry Diller. Gaylord kept an 18.1 percent interest in a joint venture of the ResortQuest Kauai Beach at its Makaiwa property as well as its 19.9 percent stake in the ResortQuest Waikiki Beach Hotel.
Gaylord also announced its sale of the ResortQuest business on the Mainland to a subsidiary of Leucadia National Corp. for $35 million.
