Consumers held onto their windfall gains in February, confounding economists who had forecast reboun

"The latest buys came as shares of the $1 billion market cap company hit a multi-year low. Rowling's firm bought more than 608,000 shares of Gaylord at $20.44, increasing hotel george washington dc its holdings to 4.693 million shares, or an 11.49% stake.
"Nashville-based Gaylord owns and operates hotel properties, including the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee and the Gaylord Palms Resort and Convention Center in Kissimmee, Florida.
"The company also owns and operates the Radisson Hotel at Opryland and the famous Grand Ole Opry in Nashville. Other business include a Nashville hotel george washington dc radio station, a paddle wheel showboat, performance venues, a golf course located near the Opryland complex, and a corporate events production company.
"With a projected net worth of $6.2 billion, Rowling was #158 on the latest Forbes list of the World's Billionaires. The press-shy Rowling rarely pops up as a major shareholder in a public company, and has only done so three times in recent years, including Gaylord.
"The company announced first quarter 2008 results hotel george washington dc on May 1st, posting a loss from continuing operations of $6.8 million, or 17 cents per share, compared to a profit of $700,000, or 2 cents per share, a year earlier. Revenues increased 7.1% to $195.2 million, hotel george washington dc coming in slightly ahead of the $193.9 million hotel george washington dc consensus.
"GET's financial performance during the first quarter was solid and in line with our expectations. Gaylord ended the first quarter of 2008 with $17.1 million in cash and $1.165 billion in long-term debt.
"The company had $409.3 million from a $1 billion credit facility that it had yet to tap. Gaylord bought back 656,700 shares for $20 million during the quarter and ended the period with $80 million left on a repurchase authorization.
"Moving forward, Gaylord said it expected total consolidated cash flows of $206 million to $230 million for FY08, and RevPAR growth of 4.5% to 7.0%. The cash flow guidance took a -$5M haircut from a previous hotel george washington dc outlook issued by the company.
"Investors should be aware that a complete hotel george washington dc turn for the hospitality hotel george washington dc industry isn't likely until the broader economy shows more strength. For those investors with a long-term outlook, however, now is the time to look at quality hotel george washington dc companies that have been beaten down.
"Rowling's knowledge of the hospitality industry, and his willingness to take a big stake in Gaylord, shows real faith in the company's long term prospects and is certainly a factor to weigh in deciding whether to invest."
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