A general procedure for constructing action principles for continuum models via a generalization of Hamilton's principle of mechanics is described. Through the procedure, an action principle for a gyroviscous magnetohydrodynamics model is constructed. The model is shown to agree with a reduced version of Braginskii's fluid equations. The construction reveals the origin of the gyromap, a device used to derive previous gyrofluid models. Also, a systematic reduction procedure is presented for obtaining the Hamiltonian structure in terms of the noncanonical Poisson bracket. The construction procedure yields a class of Casimir invariants, which are then used to construct variational principles for equilibrium equations with flow and gyroviscosity. The procedure for obtaining reduced fluid models with gyroviscosity is also described.