Tennessee Hotel Development, Construction & Transactions

Tennessee's hotel development pipeline reflects the outsized role Nashville continues to play in attracting large-scale hospitality investment, with several projects exceeding 400 rooms now in planning or construction. Lodging Development currently tracks 75 hotel projects across the state representing 13,745 rooms in various stages of development. Transaction activity has also been notable, with 41 hotel sales of $10 million or more recorded over the most recent 18-month tracking window. Recent openings have added supply in Nashville, Chattanooga, Murfreesboro, and smaller secondary markets.

Among the projects currently tracked by Lodging Development, the largest is the 817-room Signia Hilton Nashville Yards, an upper upscale property being developed by Southwest Value Partners that entered early planning in May 2026. The 489-room Fifth Third Center Hotel, developed by Dreamscape Companies, is already in construction. Also in planning is the 405-room InterContinental Hotel & Residences Nashville, a luxury project from DAC Developments. In Pigeon Forge, the 245-room Songteller Hotel, developed by Herschend Family Entertainment Corp., is under construction at the upscale tier.

The pipeline's composition is led by upscale and upper midscale projects, which together account for 39 of the 75 properties tracked. Upper upscale hotels represent another 13 projects totaling 3,875 rooms, while four luxury developments add 968 rooms. The state's development activity spans the full scale spectrum, with midscale and economy projects rounding out the pipeline alongside 11 properties whose scale classification has not yet been determined.

Over the past 24 months, 46 hotels totaling 6,360 rooms have opened across Tennessee. Among the most recent, the Caption by Hyatt Chattanooga Downtown debuted at the end of March 2026 with 123 upscale rooms. In Nashville, the 161-room Tempo by Hilton Nashville Midtown opened in early February 2026, following the late 2025 arrival of the 260-room Motto Nashville Downtown. The Waymark, Tapestry Collection, an upper upscale property with 148 rooms, also opened at the start of 2026. Extended-stay and upper midscale brands have expanded into secondary markets, including new TownePlace Suites properties in Tullahoma and Murfreesboro.

Lodging Development recorded 41 hotel transactions of $10 million and above in Tennessee over the 18-month period ending in late November 2025. Among deals with disclosed pricing, aggregate known sale volume reached approximately $436.3 million across 20 transactions. One notable transaction during this window was the sale of the 590-room Memphis Riverline Hotel Marriott in November 2025, acquired by the Memphis Center City Development Corporation. The 127-room Hyatt Place Memphis/Germantown also traded in November 2025 for $11 million. An additional 13 transactions lacked disclosed pricing but involved recorded loan activity, while eight transactions had neither price nor loan data available. The volume and frequency of deals across the state underscores continued investor interest in Tennessee hotel assets at multiple price points.