Who bought the Hampton Inn Nashville-Airport hotel?
TARA INVESTMENT RECENTLY sold the 111-key Hampton Inn & Suites Nashville-Airport in Nashville, Tennessee to Image Hotels. Charlotte-based Tara is led by Managing Partner Amit Patel, while Savannah-based Image is led by CEO and Chairman Jay Patel and President and COO Kal Patel.
The hotel is near River North, a mixed-use development, and Nashville Yards, a $1 billion, 6 million-square-foot project with office space, a convention center, and an entertainment venue. It serves leisure and business travelers and includes a fitness center and outdoor pool.
Hunter Hotel Advisors’ Senior Vice President Mayank Patel brokered the sale.
“We continue to trust Mayank and Hunter with our portfolio, and they were instrumental in this transaction,” said Amit Patel. “This disposition supports our strategy of harvesting capital and reinvesting in high-barrier-to-entry developments with long-term growth potential. The returns from this investment will help us advance future projects in our pipeline.”
Image is a management and development company operating across the coastal South since 1978, according to its website.
The hotel, along Interstate 40 and next to Nashville International Airport, benefits from its location in a key growth market, Hunter said, citing Cushman & Wakefield data. Nashville had 16.8 million visitors in 2023, generating $10.56 billion in direct local spending. The city is a hub for corporate demand and is home to more than 500 healthcare companies and employers such as Bridgestone.
“We are pleased to announce another successful transaction for a long-standing client,” said Mayank Patel. “The sale of the Hampton Inn allows Tara Investments to focus on new developments in Nashville and Charleston, South Carolina.”
In April, Hunter secured $31.47 million in financing for three hotels, executed by Adeel Amin, senior vice president of capital markets.
