Hospitality Ventures Management Group has sold the 138-suite DoubleTree Suites by Hilton Nashville Airport to a joint venture comprised of Wexford Lodging Advisors and Trinity Private Equity Group. No financial terms were disclosed. HVMG will continue to manage the hotel and oversee a $2.5 million renovation.
NASHVILLE, Tenn. & ATLANTA–(BUSINESS WIRE)–Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, has announced it has divested ownership of the 138-suite DoubleTree Suites by Hilton Nashville Airport to a joint venture comprised of Wexford Lodging Advisors, a leading hotel asset management and investment firm, and Trinity Private Equity Group, one of the nation’s top alternative asset management firms. HVMG will retain management of the hotel and oversee a scheduled $2.5 million renovation.
“Having owned the property since 2003, HVMG knows both the property and the Nashville market intimately and will use this knowledge to continue steering the DoubleTree Suites by Hilton Nashville Airport as a market share leader,” said Robert Cole, president & CEO, HVMG. “The property has more than met our investment objectives, and we are excited to sell the property to a strategic partner, as well as retain management. The sale allows us to redeploy capital into new projects. Following the completion of the renovation, the hotel will further cement its position as the leading choice for upper upscale accommodations in Nashville.”
Situated at 2424 Atrium Way in Nashville just two miles from Nashville International Airport, the DoubleTree Suites by Hilton Nashville Airport is near such local attractions as the Grand Ole Opry, Ryman Auditorium, and the Country Music Hall of Fame. Hotel amenities include 24/7 complimentary shuttle service to and from the airport, business center, fitness room, swimming pool and 2,600 square feet of meeting space.
Guest rooms provide luxurious bedding, a spacious work area, two 32-inch flat-screen TVs and complimentary Wi-Fi. Guests are invited to dine at Harmony Kitchen and Bar, serving all-American breakfast, lunch and dinner options in a relaxed, Nashville setting. Guests also may opt for in-room dining or stop by the 24/7 Pavilion Pantry Market for sandwiches and snacks. Additionally, all guests receive a complimentary, chocolate chip cookie upon check-in.
The renovation will cover public spaces and guest room improvements. The hotel’s meeting space will be expanded and upgraded. Also, the pool and courtyard area will be improved, and guest rooms will be upgraded, as well.
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 44 hotels and Convention Center in 17 states totaling 7,496 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott, and IHG brands. Visit www.hvmg.com for more information.