Dolly Parton will always love Nashville, and now she may be opening a hotel there.
Parton and The Dollywood Co. are behind the $75 million acquisition in late November of an 11-story office building at 211 Commerce Street in downtown Nashville.
The recorded buyer, according to CoStar data, is PNH Properties, LLC. CBRE represented the buyer in the off-market sale from previous owner Velocis Lincoln Commerce SPE LLC, a joint venture between Velocis and Lincoln Property Company.
Dollywood Co. Vice President of Marketing Pete Owens confirmed to the Nashville Business Journal that Parton and Dollywood Co. are the buyers.
The company has not confirmed a hotel is the next step for the building, but that stretch of the city is a popular spot for country star-branded entertainment venues. Blake Shelton's Ole Red Nashville opened in 2018, followed by Johnny Cash's Bar & BBQ in 2019. Garth Brooks' Friends in Low Places bar and honky-tonk opened in late November.
Parton and her company are no strangers to hotels. Just last month, The Dollywood Co., which is a division of Herschend Family Entertainment, opened its second resort at the Dollywood Parks & Resorts complex in Pigeon Forge, Tennessee. Dollywood's Heartsong Lodge & Resort added an additional 302 rooms to the 300 rooms available at Dollywood's DreamMore Resort and Spa, which opened in 2015.
Hotel News Now reached out to Herschend for confirmation and did not hear back as of publication time.