MCR has acquired the Staybridge Suites Chattanooga Downtown, a five-story, extended-stay hotel with 124 suites in Chattanooga, Tennessee. The hotel was purchased at over a 25% discount to MCR’s estimated replacement cost.
Commonwealth Hotels announced the acquisition of the Aloft Knoxville West. The Aloft, a Marriott branded hotel, is the first hotel for Commonwealth in the state of Tennessee.
The hotels are located less than 10 miles from the Nashville Superspeedway, the internationally renowned motor racing complex with the oldest continually operating track in the United States.
The hotel will operate independently as The Volunteer Hotel prior to and during renovations, which will begin in December 2019. Once complete in spring 2020, the 112-key hotel will debut as Graduate Knoxville, part of the Graduate Hotels collection.
Ascent Hospitality based in Buford, GA announced today that it has acquired The Chattanoogan Hotel, a 198-room property. Ascent will completely modernize and renovate the hotel's upscale guest rooms, meeting rooms, public spaces, as well as the pool and lobby areas, and brand as a Curio Collection by Hilton property.
The Marriott Nashville Hotel at Vanderbilt University has been acquired by an affiliate of White Lodging Services Corporation.
Transaction adds additional resorts in Florida and Tennessee to Diamond Resorts' growing portfolio of properties
The Nashville Property features a multi-year, rail crew lodging contract with a large national U.S. railway and is being acquired for an aggregate purchase price of approximately US$8.7 million, including US$950,000 for planned capital expenditures and excluding closing and post-acquisition adjustments.
FelCor Lodging Trust Incorporated (NYSE: FCH) yesterday announced that it has sold the 383-room Holiday Inn Nashville Airport to an affiliate of Memphis-based Fairwood Capital, LLC for gross proceeds of $31.6 million.
The property is located on South Broadway in very close proximity to the Music City Center, Bridgestone Arena, Convention Center, and downtown entertainment district, ideally situated among a diverse group of corporate, leisure and group destinations.