CORRECTED - CORRECTED-UPDATE 2-Gaylord posts Q4 loss, sees better 2010

(Corrects fifth paragraph to clarify that David Kloepel is the company president, and not CEO)

* Q4 net loss $600,000 vs $8.4 mln profit yr ago

* Sees 2010 revPAR of -2 pct to 1 pct

* Net advance group bookings up 8.7 pct (Adds analyst comment, details from conference call, background, updates share movement)

Feb 9 (Reuters) - Hotel operator Gaylord Entertainment Co (GET.N) posted a fourth-quarter loss, weighed down by charges, but the company said revenue per available room could break into positive territory in 2010.

For the full year it expects revenue per available room, or revPAR, to range from a decline of 2 percent to an increase of 1 percent, while total revPAR is expected to range from a 1 percent decline to a 2 percent rise. Total revPAR includes outside-the-room offerings.

In 2009, the company posted a revPAR decline of 10 percent, far better than the lodging industry's record 16.7 percent decline. Industry analysts and data companies expect revPAR in the space to fall 1.1 percent to 3.2 percent in 2010.

RevPAR measures hotel performance based on occupancy and room rates.

"We are encouraged by both the improvement and the pace of bookings and positive trends we saw groups exhibit in the fourth quarter of 2009," President David Kloepel said on a conference call.

"Meeting planners began to add attendees instead of reducing the room blocks, and groups are picking up additional banquet events and other outside-the-room offerings," he said.

Shares of the company fell 3 percent to $18.89 but pared some of those losses and were almost flat at $19.34 in midday trade Tuesday on the New York Stock Exchange.

Oppenheimer & Co analyst David Katz said Gaylord's revPAR outlook, slightly below Starwood Hotels & Resorts (HOT.N) projection last week for revPAR to be flat to up 5 percent in 2010, could be weighing on the stock.

The analyst said the company was probably being conservative in its outlook and was more likely to beat it than miss it.

Gaylord said it has $248.5 million so far in group revenue on the books for 2010, compared with $261 million in group revenue for 2009, and said it is seeing more activity on the corporate side of its group business.

The operator of the Gaylord Palms, Texan, Opryland and National hotels also said it entered 2010 with 48.4 points of occupancy on its books and currently has almost 36 points and 29 points of occupancy on the books for 2011 and 2012, respectively.

COSTS TO RISE

In the fourth quarter, same-store total revPAR fell 3.9 percent.

For the quarter, the company posted a net loss of $600,000, or 1 cent a share, compared with a profit of $8.4 million, or 23 cents a share, last year.

Revenue fell marginally to $249.4 million.

Like other lodging companies hammered during the downturn by fewer bookings, Gaylord aggressively cut costs and saved about $45 million in 2009.

However, the company said it expects to see labor and benefit costs increase in 2010 as healthcare costs go up and the company re-starts merit increases, as well as due to the impact from its completed union contract at the Gaylord National.

Same-store attrition fell to 10.6 percent in the quarter from 14.1 percent in the year-ago period, while cancellation totaled 6,278 room nights compared with 15,332 room nights last year. (Reporting by Abhishek Takle in Bangalore; Editing by Anil D'Silva and Unnikrishnan Nair)