The owner of the Omni Nashville, Tenn., considered building another hotel downtown, but is holding off for now amid rising construction costs and a string of new hotel projects being announced by lodging rivals.
Dallas-based TRT Holdings talked with Metro officials about potential incentives, looked at properties south of its hotel south of Broadway and crunched the numbers to determine financial feasibility of a project, said Dan Piotrowski, GM of the 800-room Omni Nashville Hotel.
"As you can imagine, building, labor and material costs are significantly higher than they were when we started developing the existing hotel," Piotrowski said. "We felt letting other developers pursue their projects would be the best decision. It doesn't mean it won't be looked at ... at a future point. We remain very bullish about the hospitality community here in Nashville."
Piotrowski said the project that was under consideration would have been at least 400 rooms. The brand of the potential hotel hadn't been determined when exploration ended about 45 days ago, he said. In addition to Omni, TRT has a luxury-style boutique hotel brand called Mokara Hotel & Spa in San Antonio.
Adding 400 rooms to Omni's slate in Nashville would have matched original discussions about a 1,200-room hotel when TRT developed the existing Omni Nashville as the anchor hotel for Nashville's Music City Center.