Welcome to the Gaylord Entertainment Company's Second Quarter 2012 Earnings Conference Call. Hosting the call today from Gaylord Entertainment are Mr. Colin Reed, Chairman and Chief Executive Officer; and Mr. Mark Fioravanti, Executive Vice President and Chief Financial Officer. This call will be available for digital replay. The number is (800) 585-8367, and the conference ID number is 98754906. [Operator Instructions] It is now my pleasure to turn the floor over to Mr. Mark Fioravanti. Sir, you may begin.

Thank you, Jackie, good morning, everyone. My name is Mark Fioravanti, and I'm the Executive Vice President and Chief Financial Officer for Gaylord Entertainment Co. Thank you for joining us on the call today for our second quarter 2012 earnings call. You should be aware that this conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements, among others, regarding Gaylord Entertainment's expected future financial performance. For this purpose, any statements made during this call that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as believes, anticipates, plans, expects and similar expressions are intended to identify forward-looking statements. You are hereby cautioned that these statements may be affected by the important factors, among others, set forth in Gaylord Entertainment's filings with the Securities and Exchange Commission and in our second quarter 2012 earnings release. And consequently, actual operations and results may differ materially from the results discussed or projected in the forward-looking statements. Gaylord Entertainment undertakes no obligation to update publicly any forward-looking statements, whether as the result of new information, future events or otherwise. I would also like to remind you that in our call today, we will discuss certain non-GAAP financial measures, and a reconciliation of those non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided as an exhibit to our earnings release and is also available on our website under the Investor Relations section. At this time, I'd like to turn the call over to our Chief Executive Officer and Chairman, Colin Reed.

Thank you, Mark. Good morning, everyone, and thank you for joining us today. I will start with a brief description of the stock repurchase transaction that took place yesterday between the company and TRT Holdings and that the TRT Holdings proposed secondary offering of the company's common stock announced earlier today. I will then move to some highlights from our second quarter performance and then provide an update on our REIT conversion process that we announced earlier this quarter. I will also discuss our outlook for the rest of the year, then Mark will provide additional detail on our financial results from the second quarter. Now in contrast to previous quarters, given the fact that Mark and I will be out meeting investors over the next few days, we will not be taking questions at the end of this call. This morning, we issued a press release in respect of the stock repurchase transaction that took place yesterday between the company and TRT Holdings. Under the terms of the repurchase agreement, the company repurchased 5 million shares with its common stock from TRT Holdings at a price of $37 per share, which represents approximately 47% of the company's shares held by them prior to the stock repurchase. The repurchase agreement was filed this morning on our Form 8-K. In addition, as we announced earlier today, TRT Holdings has commenced an underwritten offering of its remaining shares of our common stock. Additional information about the offering is available in the Registration statement filed by the company in connection with the proposed offering by TRT Holdings, which is available on the SEC's website. Now let me come back and discuss with you the details of our performance during the second quarter. We previously provided a preview of some of our quarterly results.…

Thank you, Colin. On a consolidated basis, Gaylord Entertainment revenues for the second quarter grew 6.9% to $253.2 million. During the quarter, the company generated income from continuing operations of $9 million or $0.17 per fully diluted share compared to income from continuing operations of $8.6 million or $0.17 per fully diluted share in the prior year quarter. Company-wide consolidated cash flow was $64 million for the quarter, a 2% increase from $62.8 million in the same period last year. CCF for the second quarter 2012 includes $3.4 million in expenses related to the company's process of exploring opportunities to unlock shareholder value. Turning to the Hotel segment, for the second quarter, RevPAR increased 7.5% while total RevPAR increased 6.7%. Gaylord Hotels in-the-year, for-the-year cancellations in the quarter totaled 14,997 room nights compared to 16,916 room nights in the second quarter of 2011. Attrition rates fell 3.6 percentage points from 10.3% in the second quarter last year to 6.7% in the second quarter this year. During the quarter, we continued to benefit from attrition and cancellation fee collection, and for Gaylord Hotels, collection totaled $1.7 million compared to $2.9 million for the same period last year. Gaylord Hotels' CCF increased 8.3% in the quarter to $74.4 million, while CCF margin increased 40 basis points year-over-year. These results included the impact of the explosion that Colin mentioned at Gaylord Opryland, which resulted in a profitability loss of $1.3 million, including approximately $455,000 of remediation expense incurred due to the accident. The company is pursuing an insurance and business interruption claim associated with this event. The Opry and Attractions segment continued to perform well with revenue increasing 8.5% in the quarter to $20.2 million, driven by increased attendance and additional shows at the Grand Ole Opry. CCF for the Opry and Attractions…

Mark, thank you very much. And as I said at the outset, we're not going to be answering questions. We've got multiple meetings to do through the rest of the day with investors and prospective investors. So I'd like to thank you all for joining us. And if we don't end up talking to you individually in our schedule here over the next 2 to 3 days, you know how to get hold of either Mark, Patrick Chaffin or myself. And again, thank you very much, indeed. Operator, that's the conclusion of the call.

Thank you. This concludes today's conference call. You may now disconnect.