FelCor Lodging Trust is selling another one of its hotels. The 383-room Holiday Inn Nashville Airport property is the latest to be offloaded by the real estate investment trust, which traded the property to Fairwood Capital of Memphis for gross proceeds of $31.6 million.
FelCor was seeking to sell the Holiday Inn as a means to repay borrowings under its line of credit. In a statement, the REIT said it is using asset sales to strengthen its balance sheet, repurchase stock and fund redevelopment projects with high ROI. FelCor owns a portfolio that consists primarily of upper-upscale and luxury hotel located in metropolitan and resort markets in the U.S.
The Holiday Inn Nashville Airport is located near the city's Grand Ole Opry, Country Music Hall of Fame and Music Row. The property offers a shuttle service to local attractions, that also include Ryman Auditorium, Nissan Stadium and Bridgestone Arena.
The property's guestrooms include free Wi-Fi access, a 24-hour complimentary airport shuttle, 24-hour business center and an indoor pool. The hotel also has more than 7,500 square feet of meeting and event space across 10 meeting rooms, which can accommodate up to 400 people. Planning and catering staff are also available, as well as audio-visual equipment.
Guests also have access to on-site laundry facilities for their own use, as well as same-day dry cleaning. Food & beverage options on-site include the Latitude 36 Kitchen and Bar, open for lunch and dinner, as well as the Jacksons Veranda, which is located on the property's main floor.