ROCKVILLE, Maryland—Choice Hotels International, Inc. announced the sale of the Cambria Hotel Nashville Downtown for $109.5 million. In addition, the company entered a long-term franchise agreement with the buyer, and Pyramid Global Hospitality will now manage the hotel. This latest agreement reflects the increased value for Cambria Hotels’ accommodations.
“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 in Nashville’s South of Broadway (SoBro) neighborhood and is a short distance from many of Nashville’s 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 has amenities that appeal to modern travelers, including:
- Multi-purpose indoor and outdoor spaces for work or relaxation, including a rooftop pool deck with an indoor-outdoor bar.
- Locally inspired décor, reflecting the personality of the surrounding Nashville community.
- Contemporary guestrooms with fixtures, lighting, and bedding.
- Spa-style bathrooms with Bluetooth mirrors.
- True Music Room & Bar, a bar and lounge with local, live music.
- Onsite dining with food, local craft beer, wine, specialty cocktails, and to-go options.
- More than 6,000 square feet of multi-function meeting and event spaces.
- Fitness center.
There are currently more than 60 Cambria hotels open across the United States in cities such as Chicago, Los Angeles, New York, New Orleans, and Phoenix, with nearly 70 hotels in the pipeline.