According to the Nashville Business Journal, Reade Hotel Capital recently purchased Embassy Suites Nashville at Vanderbilt for $57.5 million. This is significantly lower than its selling price a decade ago.
The hotel, situated on 1.25 acres at 1811 Broadway, was previously owned by Moody National Reit II Inc., who bought it for $66.3 million in June of 2015. The pending deal equates to approximately $276,442 per room for the hotel’s 208 rooms.
Reade Hotel Capital identifies itself as a company that specializes in investing in high-quality hotels across the country and currently owns two hotels in New York and one in New Orleans.
Last year, Host Hotels & Resorts Inc. acquired Downtown’s prestigious 1 Hotel and Embassy Suites for an impressive sum of $530 million.
