Tennessee Hotel Development, Construction & Transactions

Tennessee's hotel development pipeline reflects a state where upscale and upper midscale projects drive the majority of new construction activity, with Nashville continuing to attract large-scale, high-profile investments. Lodging Development currently tracks 74 hotel projects across Tennessee totaling 13,553 rooms. Transaction activity over recent months has been steady, with 37 deals of $10 million and above recorded. The state has also seen a healthy pace of hotel openings, with 46 properties delivering 6,360 rooms over the past 24 months across Nashville, Chattanooga, Murfreesboro, and other markets.

Upscale and upper midscale projects form the backbone of Tennessee's development pipeline, combining for 39 of the 74 projects tracked by Lodging Development and accounting for more than 6,000 rooms. Upper upscale properties add another 12 projects and 3,683 rooms, while four luxury-scale developments contribute nearly 1,000 rooms to the pipeline.

Among the projects currently tracked, the Signia Hilton Nashville Yards stands out as the largest at 817 rooms, being developed by Southwest Value Partners and currently in early planning. The Fifth Third Center Hotel, a 489-room property in construction by Dreamscape Companies, is another major addition. DAC Developments is advancing the 405-room InterContinental Hotel & Residences Nashville at the luxury tier. In a different vein, the 245-room Songteller Hotel, under construction by Herschend Family Entertainment Corp., adds an upscale independent offering to the state's pipeline.

Tennessee has recorded 46 hotel openings totaling 6,360 rooms over the past 24 months, with several notable recent deliveries. The 260-room Motto Nashville Downtown opened in late December 2025, adding an upscale Hilton-branded property to the city's downtown core. In early 2026, The Waymark, Tapestry Collection brought 148 upper upscale rooms online, while the Tempo by Hilton Nashville Midtown delivered 161 upscale rooms in February. The Caption by Hyatt Chattanooga Downtown, a 123-room upscale property, opened at the end of March 2026. Beyond these urban additions, extended-stay and select-service brands have expanded into secondary markets including Murfreesboro, Tullahoma, and Spring Hill.

Over the past 18 months, Lodging Development has tracked 37 hotel transactions of $10 million and above in Tennessee. Among those with documented sale prices, 20 transactions totaled approximately $436.3 million. An additional 12 deals were recorded with loan data but without disclosed prices, and five transactions lacked sufficient pricing or loan information to estimate value.

Among the more notable recent transactions, the 590-room Memphis Riverline Hotel Marriott changed hands in November 2025, with Memphis Center City Development Corporation and Carlisle Corp. recorded as buyers. The Hyatt Place Memphis/Germantown, a 127-room upscale property, sold for $11 million that same month. These Memphis-area transactions highlight continued investor interest beyond Nashville in Tennessee's secondary hotel markets.