Wexford Lodging Advisors and Trinity Private Equity Group announced Tuesday they have acquired the 138-suite DoubleTree Suites by Hilton Hotel Nashville Airport. The joint venture will invest about $2.5 million in upgrading the property, with work expected to finish by the end of 2019.
John Rosen, president of Wexford Lodging Advisors, said in a statement the two firms had acquired the hotel “at a significant discount to replacement cost.” According to Rosen, the firms are planning on expanding the hotel’s meeting space and adding new fire pits and landscaping to its courtyard pool area.
DoubleTree Suites by Hilton Hotel Nashville Airport is a three-story, all-suite hotel located 2 miles from Nashville International Airport. Amenities include a 24-hour business center, fitness room, swimming pool and, for now, 2,600 square feet of meeting space. The property also operates a complimentary shuttle service to and from the airport. HVMG will continue to operate the hotel.
Wexford Lodging Advisors is a hotel asset management and investment firm with a total asset value of more than $1 billion. Its portfolio includes 11 branded and independent hotels. Trinity Private Equity Group is an alternative asset management firm that works through direct investment in real estate and operating companies.