Carey Watermark Acquires Nashville's Hutton Hotel
Thursday May 30th, 2013 - 9:33AM E
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CHICAGO—Carey Watermark Investors Incorporated has acquired the Hutton Hotel, a four-star, luxury lifestyle boutique hotel in downtown Nashville.
CWI’s total investment in the 247-room property, which opened in 2009, is approximately $77.3 million, including a $73.6 million purchase price and $3.7 million of planned capital improvements and other acquisition–related costs. The hotel will continue to be managed by Amerimar Enterprises, Inc.
Hutton Hotel is located at 1808 West End Avenue in the West End neighborhood of Nashville, in close proximity to major demand generators such as Music Row, Vanderbilt University, the Grand Ole Opry, the Country Music Hall of Fame and the new 1.2 million square foot Music City Convention Center as well as a broad range of corporate users. Amenities include the 1808 Bar & Grille, an award winning three-meal restaurant and bar, over 13,600 square feet of meeting space, a gift shop and concierge services. In addition, the hotel offers eco-friendly features and pet-friendly programs.
Tags: • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.