Dive Brief:
- A dual-branded Tempo by Hilton and Homewood Suites hotel will open in Nashville, Tennessee’s East Bank district, commercial real estate investment and development firm Driftwood Capital, which delivered a preferred equity investment for the building, announced Monday in a release obtained by Hotel Dive.
- The 18-story, 300-room property will be built near Oracle’s future $1.4 billion Nashville headquarters, which is currently under development near the city’s Nissan Stadium. The hotel is expected to open in 2028.
- Nashville’s East Bank district “is poised to become a vibrant epicenter anchored by Oracle's forthcoming headquarters,” Pranav Bhakta, Driftwood’s senior vice president of corporate business development, said in a statement. Nashville’s hotel market is in the midst of a development boom, experts told Hotel Dive earlier this year.
Dive Insight:
The dual-brand hotel is a joint venture between Nashville-based Skyline Hospitality and Patrick Culligan, as well as Tampa, Florida’s Sonari Capital Partners.
Driftwood will conduct full-scale development oversight through its Driftwood Development Services business. Once open, Driftwood Hospitality Management will operate the hotel.
The development will include approximately 10,000 square feet of meeting space, food and beverage outlets and a rooftop overlooking downtown Nashville, according to Driftwood.
In a statement, Bhakta called the hotel a “high-impact project.”
“We are confident this project will deliver a high-quality hospitality experience that aligns with the dynamic growth of the surrounding district, including Oracle’s headquarters and the new Nissan Stadium,” said Jaimin Patel, managing principal at Sonari Capital Partners.
Last year, Oracle announced that it would be moving its world headquarters to a 65-acre campus in Nashville, according to CNBC. Corporate relocations such as Oracle’s are driving hotel growth in the city, Keith Kurland, senior managing director and co-head of New York capital markets at Walker & Dunlop, told Hotel Dive in May.
“That corporate migration, while the announcements have been made and the work is underway, those jobs still haven’t even hit the market yet,” he said.
The hotel will house Nashville’s second Tempo by Hilton, a brand which opened its second-ever location in the city’s downtown last year after debuting in 2023. The flag is part of Hilton’s rapidly growing lifestyle portfolio.
