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US Hotel Deals: Hotels Trade in Nashville, San Antonio

A Dual-Branded Marriott Property Sells for $73 Million

Host Hotels & Resorts purchased the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown for a total price of $530 million. (CoStar)
Host Hotels & Resorts purchased the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown for a total price of $530 million. (CoStar)

This roundup features the latest hotel transactions in the U.S. hotel industry.

Embassy Suites by Hilton Nashville Downtown

Rooms: 506
Location: Nashville
Price, Including Debt: $347.3 million
Price Per Room: $686,336
Buyer: Host Hotels & Resorts
Seller: Starwood Capital Group, Crescent Real Estate and High Street Real Estate Partners
Date of Transaction: May 1, 2024
Takeaway: This hotel, along with an adjacent hotel, was part of a two-hotel portfolio sale totaling $530 million. Together, the two hotels have a combined key count of 721 rooms.

1 Hotel Nashville

Rooms: 215
Location: Nashville
Price, Including Debt: $182.7 million
Price Per Room: $849,833
Buyer: Host Hotels & Resorts
Seller: Starwood Capital Group, Crescent Real Estate and High Street Real Estate Partners
Date of Transaction: May 1, 2024
Takeaway: This hotel, along with an adjacent hotel, was part of a two-hotel portfolio sale totaling $530 million. Together, the two hotels have a combined key count of 721 rooms.

Hyatt Regency San Antonio Riverwalk

Rooms: 630
Location: San Antonio
Price, Including Debt: $230 million
Price Per Room: $365,079
Buyer: Sunstone Hotel Investors
Seller: Hyatt Hotels Corp.
Date of Transaction: April 23, 2024
Takeaway: Sunstone used a portion of its cash earned on the $370 million Boston Park Plaza sale to fund this transaction.

SpringHill Suites New Orleans Warehouse Arts

Rooms: 208
Location: New Orleans
Price, Including Debt: $37 million
Price Per Room: $175,665
Buyer: Guidry Enterprises
Seller: Summit Hotel Properties
Date of Transaction: April 17, 2024
Takeaway: The hotel is dual-branded with a Courtyard property. The two hotels sold for a combined $73 million.

Courtyard New Orleans Warehouse Arts District

Rooms: 202
Location: New Orleans
Price, Including Debt: $36 million
Price Per Room: $180,504
Buyer: Guidry Enterprises
Seller: Summit Hotel Properties
Date of Transaction: April 17, 2024
Takeaway: The hotel is dual-branded with a SpringHill Suites property. The two hotels sold for a combined $73 million.

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