Nashville's W Hotel fetches record price in competitive sale to Orlando real-estate company

The most expensive Nashville hotel sale ever was recorded this week, when a real-estate investment firm in Orlando closed on the six-month-old W Hotel in the Gulch. Xenia Hotels & Resorts paid $328.7 million for the luxury-lifestyle branded property stocked with restaurants, shopping and art displays, breaking down to $950,000 per key at the hotel's 286 guest rooms and 60 suites. The deal closed Tuesday, with David Tessier of Hospitality & Gaming Advisors, one of the hotel's developers, noting that the competitive sale reflects Nashville's emergence as a primary market for real estate investment as the hospitality industry recovers from the pandemic.