Xenia Hotels & Resorts, an Orlando-based hospitality REIT, has agreed to acquire the 346-room W Nashville hotel for USD 328.7M. The sales price equates to roughly $950,000 per room.
The seller and developer of the 14-story hotel, which opened in October 2021 in the city’s Gulch neighbourhood and is part of the Marriott family of brands, was not disclosed. The deal is scheduled to close by the end of the first quarter.
The W Nashville features six food and beverage options, including two concepts by Chef Andrew Carmellini, as well as rooftop and pool bars. The property also offers 18,000 square feet of indoor meeting and event space and 26,000 square feet of outdoor amenity space, including a 10,000square-foot pool deck and terraces contiguous with meeting, food and beverage and event spaces.
The hotel’s offering of guestrooms includes 60 suites, representing about 17 percent of the total room count.
According to Xenia’s data, Nashville has been one of the strongest performing lodging markets over the past two decades, with a revenue per available room (RevPAR) of 5.4 percent between 1987 and 2019 and 8.7 percent between 2009 and 2019.
STAY Magazine recently featured the collaboration between the W Nashville and its partnership with local coffee joint Barista Parlor.
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