Tennessee Hotel Development, Construction & Transactions

Tennessee's hotel landscape is defined by a substantial development pipeline concentrated heavily in Nashville, with significant activity also reaching Chattanooga, Knoxville, and smaller markets across the state. Lodging Development currently tracks 77 projects totaling 14,107 rooms, alongside 46 recent openings and 39 transactions recorded over the past 18 months. The pipeline spans all scale tiers, from large-scale luxury and upper upscale projects anchored in downtown Nashville to extended-stay and select-service builds in suburban and secondary markets throughout the state.

Among the projects currently tracked by Lodging Development in Tennessee, the upscale and upper midscale tiers dominate the pipeline, accounting for 20 and 19 projects respectively. Upper upscale development is also well represented with 13 projects totaling 3,803 rooms, while four luxury projects contribute an additional 968 rooms. The largest project in the tracked pipeline is the 817-room Signia Hilton Nashville Yards, an upper upscale project in planning from Southwest Value Partners. The 489-room Fifth Third Center Hotel, developed by Dreamscape Companies, is currently under construction. Also notable is the InterContinental Hotel & Residences Nashville, a 405-room luxury property in planning from DAC Developments. In Pigeon Forge, the 245-room Songteller Hotel by Herschend Family Entertainment Corp. is under construction as an upscale unaffiliated property. Across the full pipeline of 77 projects and 14,107 rooms, 14 projects remain at an undetermined scale tier.

Over the past 24 months, Tennessee has recorded 46 hotel openings totaling 6,328 rooms. Among the most recent, the 150-room Home2 Suites and Tru by Hilton dual-branded property in Chattanooga West opened in late July 2026, followed by the 91-room Holiday Inn Express Knoxville Downtown and the 119-room TownePlace Suites Nashville Brentwood, both opening in June 2026. Earlier in the year, the 161-room Tempo by Hilton Nashville Midtown and the 123-room Caption by Hyatt Chattanooga Downtown opened in the first quarter. Among the highest-profile completions, the 260-room Motto Nashville Downtown opened in late December 2025, and the 148-room Waymark, Tapestry Collection opened at the start of 2026.

In the 18-month period ending February 2026, Lodging Development tracked 39 hotel transactions in Tennessee valued at $10 million or above. Among the 23 transactions with confirmed sale prices, total volume reached approximately $645.9 million. The most notable deal during the period was the sale of the 260-room Motto Nashville Downtown for $98.2 million, acquired by Apple REIT Companies in December 2025 — a transaction that represented nearly $377,700 per key. In Knoxville, two adjacent Marriott-branded properties changed hands in January 2026: the 78-room Residence Inn Knoxville Cedar Bluff sold for $9 million, and the 78-room Courtyard Knoxville Cedar Bluff traded for approximately $7 million. Six additional transactions during the window lacked sufficient pricing data for inclusion in volume calculations.