NASHVILLE SMYRNA, TENNESSEE
Hodges Ward Elliott, licensed in Tennessee, is pleased to present for your consideration its exclusive representation of Ownership in the sale of the fee-simple interest in the 95-key Holiday Inn Express & Suites Nashville Smyrna (“Property” or “Hotel”). Optimally positioned within arguably the hottest metropolitan area in the country, Smyrna stands out among other Nashville submarkets for its robust growth, existing international commerce, manufacturing, strategic logistical location and preferred residential appeal. The Nashville MSA is placed among the nation’s strongest employment, demographic and population growth trends. The Property is offered unencumbered of management, debt, and is freshly renovated.
Property Snapshot
| Address | 2565 Highwood Blvd. Smyrna, TN 37167 |
| Rooms | 95 |
| Floors | 4 |
| Year Built / Renovated | 2008 / 2023-2024 |
| Class | Upper Midscale |
| Amenities | • Outdoor Pool • Fitness Center • Business Center • Event Meeting Space |
| Parcel Size | 2.2 Acres |
| Meeting Space | 900 SF |
| Interest | Fee-Simple |
INVESTMENT HIGHLIGHTS
FULLY RENOVATED PROPERTY WITH STRONG IN-PLACE CASH FLOW WITH NOTABLE UPSIDE
A recently refreshed product of institutional quality construction, the current ownership has maintained and updated this concrete structure to pristine levels. The Hotel is in excellent physical condition, having benefited from a completed “Formula Blue” renovation at an approximately $20,000 per key capital injection. The comprehensive renovation that took place during 2023 and 2024 calendar years satisfied (or exceeded) IHG’s brand standard by the end of 2024. A new owner will have the opportunity to realize the performance lift from elevated guest room product, public space and amenity offerings. Additionally, efficient operation and effective asset management will allow the next owner to build on prevailing strong performance and drive supplementary returns as this lodging market continues to gain momentum.
DISCOUNT TO REPLACEMENT COST
Attributable to escalating land costs (especially in the Nashville MSAs) combined with rising construction costs, to develop a similar stand-alone, upper-midscale asset would likely exceed $250,000 per key and take over two years from land acquisition to C/O. At the anticipated transaction price, a new owner’s all-in basis will be well inside of replacement cost, driving significant cash-on-cash returns and yielding attractive net proceeds upon exit.
HOTTEST MARKET IN THE COUNTRY
Nashville is one of the premier seven-day-a-week lodging markets in the U.S., benefiting from a multitude of diverse demand generators that range from historically resilient (e.g. music production, healthcare, education, government, etc.) to high-growth segments such as corporate/tech expansion and conventions/conferences.
Not only has Nashville continued to explode as a world-renowned leisure destination, capitalizing on both rapidly expanding airlift and immense drive-to demand resulting from the city’s highly centralized location within the U.S., but the city has also become a magnet for corporate relocations and global commerce.
HEADQUARTERS IN NASHVILLE / RUTHERFORD COUNTY
PRIME LOCATION
The Hotel is located in a prime location in the hottest MSA in the country, benefiting from a wide variety of corporate and leisure demand.
Optimal Location within Logistical Thoroughfare: The Property and Rutherford County’s central location offers businesses unmatched logistical advantages. Positioned at the crossroads of major U.S. interstates, such as I-24 and I-840, companies operating in the county enjoy streamlined transportation routes. This connectivity makes it possible to reach over half of the U.S. population within a day’s drive. Businesses in industries like manufacturing, distribution, and logistics have found this accessibility to be transformative, reducing shipping costs and increasing efficiency.
Century Farms Development - Tanger Outlets: Opened in 2023, The Tanger Outlets brought hundreds of jobs to the area and provides incremental demand to the Property and Smyrna’s hospitality market. As the immediate product is aged, under-capitalized and obsolete, this massive and growing development relies on newer vintage hotel product to the South.
Rutherford County Outpaces Nashville in Growth 8 Years Straight: Rutherford County continues to appear on numerous lists ranking the fastest-growing counties in Tennessee and throughout the nation. While many studies simply look at the number of new residents moving into an area without accounting for those leaving, a report from the University of Tennessee compiled data to reveal an unsurprising result. The information showed that during the research year from 2022 to 2023, Rutherford County had the largest population change in the state of Tennessee. Additionally, when calculating population changes across each of the 95 counties in the state, the data collected over the recent 12-month span revealed that Rutherford County added more residents than any other county.
INDUSTRY ACCLAIMED DISTRIBUTION PLATFORM
Benefiting from the Intercontinental Hotels Group reservation system and robust base of demand generated from the IHG One Rewards program, the Holiday Inn Express & Suites brand represents one of the top select-service flags in the industry. The Holiday Inn Express brand is backed by, one of the strongest names in the lodging industry, providing a highly rated reservations system and access to 100 million IHG members. IHG is known to have a tremendously loyal customer following and appeals to a variety of consumer segments that provide strong room night demand every day of the week.
CLEAN INVESTMENT OPPORTUNITY WITH MAXIMUM FLEXIBILITY
The fee-simple Hotel is being offered free and clear of the existing management contract, unencumbered of debt and operated with non-union labor.