NASHVILLE—The Georgetown Company announced the acquisition of the Hutton Hotel in Nashville. The all-cash purchase of the 250-key Nashville property is the first through the $1 billion hospitality investment platform launched last year by Georgetown in partnership with hotel management company First Hospitality.
Georgetown is making an investment into the West End property, a boutique hotel in Nashville, and plans to invest additional capital to build upon the Hutton Hotel brand. The plans include design upgrades to its guestrooms and meeting spaces, as well enhancements to the recently-remodeled restaurant and lobby.
First Hospitality will manage the Hutton Hotel and the on-site restaurant and live-music venue. The property joins the company’s growing nationwide management portfolio of boutique, lifestyle, and independent hotels and represents its first property in the Nashville, Tennessee market.
Located minutes from downtown and nearby Music Row, the Hutton Hotel is a destination for leisure, group, and business travelers. The Hutton Hotel is also home to Analog, a 300-seat entertainment venue, and two recording studios.
“This is a significant acquisition that demonstrates our ambitious intentions in the hospitality sector,” said Adam Flatto, CEO of The Georgetown Company. “We have been interested in Nashville for a long time and when this opportunity arose, we jumped at it. The Hutton Hotel aligns perfectly with our desire to acquire properties in leading hospitality markets across the country. We’re extremely excited to join the Nashville community and be long-term owners in the city.”
“The Hutton Hotel represents a natural step in the continued expansion of the First Hospitality portfolio,” said David Duncan, president and CEO of First Hospitality. “Boutique, lifestyle, and independent hotels in our portfolio have realized outstanding market share and investor returns as our platform balances profitability with uncompromising service quality. We continue to explore additional third-party management opportunities and acquisitions across the country.”
“As the first boutique lifestyle hotel in the city, the Hutton is quintessentially Nashville and personifies the city’s heritage, energy, and creativity,” said Michael Fishbin, managing director and head of hospitality of Georgetown. “Nashville is one of the country’s most vibrant metros and has an outstanding long-term outlook as a travel destination. We anticipate a surge in travel in the coming months and years, and we’re thrilled that the Hutton Hotel will be our first property to welcome that traveler demand.”
Over the last several years, the West End neighborhood, along with the broader city of Nashville, has enjoyed strong economic growth and expansion. The neighborhood is also home to Vanderbilt University as well as several new development projects, including mixed-use residential towers, office buildings, restaurants, entertainment, and retail.
In late 2021, Georgetown and First Hospitality partnered to align hotel ownership and operations into a single investment vehicle that adds value and transaction over the long term.