NASHVILLE, Tenn. – Choice Hotels International has sold the Cambria Hotel Nashville Downtown for $109.5 million. In addition, the company entered a new long-term franchise agreement with the buyer, and the hotel will now be managed by Pyramid Global Hospitality.
“The sale of the Cambria Hotel Downtown Nashville and execution of a long-term franchise agreement aligns with our long-term, asset-light strategy and continues our history of recycling capital utilized to grow our brands,” said Scott Oaksmith, senior vice president, real estate and finance, Choice Hotels. “We are pleased that this hotel will continue to be a flagship property for the Cambria brand for years to come.”
The 255-room hotel is located at 8th Avenue and McGavock Street in Nashville’s popular South of Broadway (SoBro) neighborhood and a short distance from many of the city’s top attractions, such as the Music City Center, Bridgestone Arena, Nissan Stadium, and Historic Broad Street. The property is also near several national and regional corporations, including Nissan North America, Bridgestone Americas, Inc., HCA Holdings, Randstad, and Electrolux.
The Cambria Hotel Downtown Nashville features amenities appealing to modern travelers, including:
– Multi-purpose indoor and outdoor spaces for productive work or relaxation, including a rooftop pool deck with an indoor-outdoor bar.
– Locally inspired design décor, reflecting the unique personality of the surrounding Nashville community.
– Immersive, spa-style bathrooms with Bluetooth mirrors.
– True Music Room & Bar, a bar and lounge with local, live music.
– Onsite dining with freshly made food, local craft beer, wine, and specialty cocktails, as wells to-go options.
– More than 6,000 square feet of multi-function meeting and event spaces.
– State-of-the-art fitness center.
There are currently more than 60 Cambria hotels open across the U.S. in cities such as Nashville and New Orleans with nearly 70 hotels in the pipeline.