NASHVILLE, TN — January 20, 2022 — The Georgetown Company, a leading developer and owner of commercial, retail and mixed-use properties nationwide, announces the acquisition of the iconic Hutton Hotel in Nashville. The all-cash purchase of the 250-key Nashville property is the first through the $1 billion hospitality investment platform launched last year by Georgetown in partnership with hotel management company First Hospitality.
Georgetown is making a significant investment into the West End property, one of the premier boutique hotels in Nashville, and plans to invest additional capital to build upon the Hutton Hotel brand and further distinguish it as a fixture in Music City. The plans include design upgrades to its guest rooms and meeting spaces as well enhancements to more fully activate the recently-remodeled restaurant and lobby.
First Hospitality will manage the Hutton Hotel and the on-site restaurant and live-music venue. The property joins the company’s growing nationwide management portfolio of boutique, lifestyle, and independent hotels and represents its first property in the Nashville, Tennessee market.
Located minutes from downtown, and steps from the world-famous Music Row, the AAA 4-Diamond-rated Hutton Hotel is an ideal destination for leisure, group and business travelers. The Hutton Hotel is also home to Analog, a preeminent 300-seat entertainment venue, and two state-of -the-art recording studios, capturing the creative atmosphere of the city and its unrivaled live music scene.
“This is a significant acquisition that demonstrates our ambitious intentions in the hospitality sector,” said Adam Flatto, CEO of The Georgetown Company. “We have been interested in Nashville for a long time and when this opportunity arose, we jumped at it. The Hutton Hotel aligns perfectly with our desire to acquire properties in leading hospitality markets across the country. We’re extremely excited to join the Nashville community and be long-term owners in the city.”
“The Hutton Hotel represents a natural step in the continued expansion of the First Hospitality portfolio,” said David Duncan, President & CEO of First Hospitality. Boutique, lifestyle, and independent hotels in our portfolio have realized outstanding market share and investor returns as our platform balances profitability with uncompromising service quality. We continue to explore additional third party management opportunities and acquisitions across the country.”
“As the first boutique lifestyle hotel in the city, the Hutton is quintessentially Nashville and personifies the city’s heritage, energy and creativity,” said Michael Fishbin, Managing Director and Head of Hospitality of Georgetown. “Nashville is one of the country’s most vibrant metros and has an outstanding long-term outlook as a travel destination. We anticipate a surge in travel in the coming months and years, and we’re thrilled that the Hutton Hotel will be our first property to welcome that traveler demand.”
Over the last several years, the West End neighborhood, along with the broader city of Nashville, has enjoyed stunningly strong economic growth and expansion. The neighborhood is also home to Vanderbilt University as well as several new development projects, including exciting mixed-use luxury residential towers, office buildings, restaurants, entertainment and retail.
In late 2021, Georgetown and First Hospitality partnered to align hotel ownership and operations into a single investment vehicle that will maximize value in every property and transaction over the long term. The companies are actively seeking additional acquisitions, including in growth markets throughout the country.