July 17, 2024

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Luxury hotels move into Nashville as demand for rooms surges

2 min read

This story is part of CNBC’s new quarterly Cities of Success series, which explores cities that have been transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and workers.

Nashville is seeing an unprecedented surge in luxury hotels, with renowned brands such as the Four Seasons Hotel, the W Hotel and the Grand Hyatt opening their doors in Music City.

More than 90 new hotels have been constructed in Nashville since 2013, contributing more than 14,000 rooms to the city’s accommodation offerings, according to the Nashville Chamber of Commerce. In the past year alone, hotel expansion has generated more than $2 billion in revenue.

“This is a great city and, for the most part, very pro-growth and pro-development,” real estate developer Dean Stratouly told CNBC.

Read more: Nashville hot chicken is everywhere, but it’s still at the heart of its hometown’s culture

“That’s something that you don’t find everywhere. You then layer in all the things that are really cool about Nashville: Broadway, music, [the NFL’s Tennessee] Titans. And all of that put together makes Nashville just a great place to come,” he said.

The exterior of the Four Seasons Hotel and Private Residences in Nashville.

CNBC

Stratouly is one of the key figures behind a new Four Seasons Luxury Hotel in Nashville. The hotel boasts 235 rooms across a 40-story glass tower, including a 2,200 square foot penthouse suite with a hefty price tag of $10,000 or more per night.

And he’s not alone in moving in.

In 2020, Hyatt opened the Grand Hyatt Nashville, a 591-room hotel situated in a 25-floor tower, with amenities such as a rooftop bar, outdoor pool deck and more than 7,000 square meters of meeting and events space.

The Grand Hyatt Nashville pool.

Grand Hyatt

In 2021, W Nashville opened in the Gulch neighborhood, with 286 rooms and 60 suites in a 14-story mirrored tower, providing a 360-degree view.

A $585 million Ritz-Carlton project was originally set to break ground in…



2023-11-30 15:09:09

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