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Choice Hotels International, Inc. announced the sale of the Cambria Hotel Nashville Downtown for $109.5 million. In addition, the company entered a new long-term franchise agreement with the buyer, and the hotel will now be managed by Pyramid Global Hospitality. This latest agreement reflects the increased value for Cambria Hotels’ modern, upscale accommodations in travelers’ favorite urban destinations.
“The sale of the Cambria Hotel Downtown Nashville and execution of a long-term franchise agreement aligns with our long-term asset-light strategy and continues our history of recycling capital utilized to grow our brands,” said Scott Oaksmith, senior vice president, real estate and finance, Choice Hotels. “We are pleased that this hotel will continue to be a flagship property for the Cambria brand for years to come.”
The 255-room hotel is conveniently located at 8th Avenue and McGavock Street in Nashville’s popular South of Broadway (SoBro) neighborhood and a short distance from many of Nashville’s top attractions, such as the Music City Center, Bridgestone Arena, Nissan Stadium and Historic Broad Street. The property is also near several national and regional corporations, including Nissan North America, Bridgestone Americas, Inc., HCA Holdings, Randstad, and Electrolux.
The Cambria Hotel Downtown Nashville features upscale amenities and approachable indulgences that appeal to modern travelers, including:
There are currently more than 60 Cambria hotels open across the U.S. in popular cities such as Chicago, Los Angeles, New York, New Orleans and Phoenix, with nearly 70 hotels in the pipeline.
For more information on Cambria Hotels development opportunities, visit choicehotelsdevelopment.com/cambriahotels.
About Cambria® Hotels
The Cambria Hotels brand is designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local, freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, Los Angeles, New York, Pittsburgh, and Washington, D.C. There are over 130 Cambria properties open or in the pipeline across the United States, with nearly 60 currently open. To learn more, visit www.choicehotels.com/cambria.
About Choice Hotels®
Choice Hotels International, Inc. is one of the largest lodging franchisors in the world. With nearly 7,000 hotels, representing nearly 600,000 rooms, in 35 countries and territories as of March 31, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.
About Pyramid Global Hospitality
Pyramid Global Hospitality was formed by the 2021 merger of three hotel and resort management companies, creating the most owner-focused, experiential company in the industry and its best workplace. The organization’s global portfolio spans more than 240 properties in the U.S., Caribbean and Europe. It maintains offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit www.PyramidGlobal.com.
Addendum
This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained through contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, development@choicehotels.com.
