NASHVILLE
Nashville is about to gain 468 hotel rooms next to the Music City Center convention facility now that financing is set and construction nears on the first Marriott tri-branded property in the U.S.
North Point Hospitality Group closed on an $89 million construction loan for the $137 million, 21-story hotel. The project includes $48 million in private equity and is 100 percent funded without incentives.
"We have always been bullish on the Nashville market, and with this development, we will have invested close to $200 million in the Nashville Downtown/West End area," said S. Jay Patel, president and CEO of Atlanta-headquartered North Point Hospitality.
Previously, North Point Hospitality developed the 194-unit Hilton Garden Inn and adjacent 119-unit Home2 Suites Hotels, located a mile away in the West End/Vanderbilt sub market.
The L-shaped building will contain a 207-room AC Hotel, a Marriott lifestyle- inspired brand from Europe now in about a dozen U.S. cities; a 136-room Residence Inn; and a 125-room SpringHill Suites.
The property is expected to welcome its first guests in the spring of 2018.
"We are excited to bring this tri-branded design to Nashville. All guests will enjoy the amenities and upscale service experience of a full-service hotel along with the efficiencies of a focused-service property," said Whip Triplett, executive vice president of North Point Hospitality.
The AC rooms will face Korean Veterans Boulevard, and the Residence Inn and SpringHill Suites rooms will face Fifth Avenue South in Nashville's bustling SoBro district. The location is convenient for business travelers attending conventions at the Music City Center and for leisure guests visiting the Country Music Hall of Fame and Museum, Bridgestone Arena, and various other area attractions.
The hotels will have six food and beverage outlets, including major restaurants at street level, a unique indoor/outdoor resort-style pool bar and fitness center on the sixth floor. Located on the 21st floor, a rooftop bar and patio will offer panoramic views of the Nashville skyline.
Guests of the three hotels will have access to all amenities within the tri-branded property.
There will be 4,000 square feet of meeting space located on the top floor, with 16-foot floor-to-ceiling windows offering natural light and an unobstructed view of downtown Nashville.
Valet parking will be offered on-site with a 355-space parking garage.
