In 2012, Gaylord CEO Colin Reed called the closing of Opryland "a bad idea". He said that he had spent much of his first year at Gaylord fielding complaints about the decision (he arrived at the company [replacing Terry London] in 2001, more than three years after the park was demolished). On January 19, 2012, Gaylord Entertainment announced plans to open a new theme park in Nashville near Opryland's former location. The plans called for a park that could be used nearly year-round, as a water park in the summer and snow park in the winter. It was planned to be a joint venture with Dolly Parton and Herschend Family Entertainment (owners/operators of Dollywood in Pigeon Forge, Tennessee) and was expected to open in 2014. Parton and Herschend backed out of the plans a few months later, citing Gaylord's decision to sell the rights to operate its hotel chain to Marriott International as a reason for exiting. As a result of the joint venture's collapse, the project was scrapped. As the company transitioned into a real estate investment trust in 2012, Gaylord Entertainment was renamed Ryman Hospitality Properties in October 2012. In 2018, Gaylord Entertainment's former CEO Bud Wendell talked about Opryland's closure, saying "Opryland was successful. And it was successful when they shut it down. We weren't losing money." Wendell also said that the decision was "the dumbest thing I've ever seen." 2010 Tennessee floods The Opryland site was flooded in early May 2010, after two days of torrential downpours in the Nashville area caused the Cumberland River to overflow its banks. The flood did not destroy any buildings on Gaylord property, but they were all severely damaged. Buildings that were demolished—rather than repaired—after the flood include the former TNN/CMT broadcast center, Roy Acuff Theater, Gaslight Theater, the Gaylord University building, the WSM administration buildings (former Minnie Pearl and Roy Acuff museums), and the former Opryland Hospitality Center. Gaylord Opryland, the Grand Ole Opry House, and the General Jackson were closed for several months and all reopened in late 2010. The Grand Ole Opry Museum did not reopen. Since then its structure has served as a training facility for new company employees. Many of its contents were lost in the flood, returned to their owners from loan, or relocated to a new museum space inside Ryman Auditorium. Opry Mills became entangled in a legal battle over flood insurance payout