NASHVILLE HOTEL PROJECT
Holiday Jones Management is planning to construct a mid-rise, five-story, glass, steel and concrete hotel with modern touches in their 93 guest rooms in East Nashville, Tennessee. The new hotel was originally going to be named the Holiday Jones, however it has been rebranded as the Fieldhouse Jones Hotel to both avoid confusion with the Holiday Inn brand, as well as capitalize on the success the Fieldhouse Jones Hotel in Chicago has earned.
The 93 rooms of the new Fieldhouse Jones will have approximately 450 beds in them to accommodate an unlimited assortment of travelers. As most hotels feature only one or two beds in a standard room, the Fieldhouse Jones is designed with one, two, four and six beds in shared rooms, guest rooms, and apartment suites. Rooms with multiple beds are configured as full-size bunk beds to conserve space in a room, and offers more comfort than a typical twin.
In addition to offering a multitude of bedding options for their guests, the Fieldhouse Jones will be a gathering hub for the nearby community and an integral part of everyday life for residents nearby. The stylish lobby will double as a café and bodega and the lobby lounge will also act as a 24-hour lounge area and communal work environment for guests and locals that will flow out to the 3-season patio with outdoor cinema and relaxation space. The 4,000-square foot rooftop will offer unparalleled views of downtown Nashville and include a treetop bar and lounge as well as a bocce court. The Fieldhouse Jones will be a hotel unlike anything Nashville has ever seen before and an integral part in the continued growth of East Nashville, which currently has multiple large-scale apartment communities and entertainment venues in the immediate vicinity of the hotel. One block away from the site is a four-story vintage property, currently under renovation, and believed to be the future home of Nashville’s We Work communal office space, which will further enhance the growth of East Nashville.
Despite the growth in the East Nashville market, the supply of hotel rooms has remained constrained. There are no competing hotels in the immediate vicinity of the Property. The area lodging offerings are comprised of vacation rentals, Airbnb and bed and breakfast facilities. Currently East Nashville is the most requested location for Airbnb travelers in the entire Nashville metropolitan area. Real estate in the surrounding vicinity has been comprised mostly of residential, retail and office opportunities given the strong demand and high return potentially associated with those property types in the market. Additionally, design and concept approvals from local community groups as well as the Metro Development and Housing Agency go through a high level of scrutiny and must be obtained prior to any development, which creates hurdles for other new hotels.
The 11 hotels included in the Property’s “competitive set” are all located in the downtown Nashville area. They represent a blended cross-section of properties that together cater to similar business and leisure travelers visiting the city, with none of them in the East Nashville neighborhood. The “competitive set” includes the Hilton Garden Inn, Hyatt Place Nashville, Hampton Inn Suites, Homewood Suites, Embassy Suites, and Courtyard Nashville, just to name a few. While all of these hotels are in the same price point as the Fieldhouse Jones, they are all traditional standard hotels with basic amenities, little creativity in their design, and minimal activity and socialization in the common spaces. The Fieldhouse Jones will offer a dramatically opposing option for tourists who want a more personalized experience in a stylish environment that offers several options for socialization and a community feel. Additionally, the Fieldhouse Jones is the only hotel in their competitive set that offers guests the options of having several people in a room or apartment, each with their own full size bed. The Fieldhouse Jones will also offer nine shared “hostel” style rooms with four beds in each room, where guests can rent a single bed for a very reasonable price. These shared rooms, which are male or female only, on a room-by-room basis, add to the unique customization the Fieldhouse Jones offers, as well as allows travelers on a limited budget the opportunity to visit Nashville and be part of an exciting hotel community experience.