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| The 138-suite DoubleTree Suites by Hilton Nashville Airport Nashville, TN |
NASHVILLE, TN and ATLANTA, GA -- 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.
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| Robert S. Cole |
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.”
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| Grand Ole Opry, Nashville, TN |
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.
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| Country Music Hall of Fame, Nashville, TN |
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 guestroom 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.
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| Ryman Auditorium, Nashville, TN |
Contact:
Chris Daly
Daly Gray, Inc.
703-435-6293
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