The Gaylord Opryland Resort & Convention Center in Nashville, which has closed indefinitely following major flood damage sustained the weekend of May 1, claims to have transferred more than 8,800 room nights to other hotels in the downtown area and moved 811 room nights to hotels in Franklin, Tenn. In addition, the company is attempting to salvage dozens of conventions and secure another 49,000 room nights. In a statement, Gaylord Opryland's senior vice president and general manager Pete Weien said, "We're doing our best to mitigate the disruption in Nashville's tourism and entertainment industries by keeping convention travelers coming to Music City. That includes two groups that have agreed to hold their events at the Nashville Convention Center." Approximately 58,000 room nights were booked at the Gaylord. In a press conference, Gaylord Hotels CEO Colin V. Reed said that damage assessments currently are being conducted, but the resort does have a $50 million flood insurance policy. He expects the hotel to open by the end of the year. The resort, which has 12 percent of Nashville's hotel rooms, brings in as much as one-fourth of the city's convention business, according to the Nashville Convention & Visitors Bureau. While the resort is shuttered, the city could lose 20 percent of its hotel tax revenue.