NASHVILLE, Tenn. (WKRN) – Everywhere you look in Middle Tennessee, there is another hotel project under construction.
STR crunched the numbers and found 114 hotel projects in the pipeline in Nashville either under construction or in the planning phase.
According to STR, there are only three cities in the United States with more hotel projects lined up, New York with 171 and two Texas cities, Houston and Dallas with 153 and 146 respectively.
Though when it comes to comparing Nashville to any other city, experts at STR say they are also looking to Texas.
“Nashville is a little bit unique because of the confluence of that strong business sector plus the strong demand, maybe Austin, Texas has seen a similar resurgence but there they are struggling because downtown traffic infrastructure is not there though business demand is there, so we’ll see, but really Nashville is unique,” said Jan Freitag with STR.
Nashville is also outpacing cities like Los Angeles, Chicago, Atlanta and Washington D.C.
“I think there were few people who would have predicted this and put their money on it. Some forward-thinking developers who built hotels early on and thought maybe there is something in the water here that would propel to national prominence, but overall I think everyone was a little surprised by the speed,” added Freitag.