Nashville Renaissance Could Go to Highland
NASHVILLE, TN, January 13, 2006. Marriott International is moving toward selling the Renaissance Hotel downtown to a subsidiary of real estate investment trust Highland Hospitality Corp., according to local reports. No sale has been completed, but on Tuesday, the Metro Council is scheduled to vote on a resolution consenting to the transfer of its property lease with Marriott to Highland, the reports reveal. The 673-room hotel, located at 611 Commerce St., is connected to the Nashville Convention Center and sits on Metro-owned property.
According to the lease, Metro would receive 20 percent of the profits earned in anticipation of the deal, amounting to approximately $2.23 million, according to the resolution.
Renaissance Hotel General Manager John Fleming confirmed that Highland may purchase the hotel portion (25 floors) of the 31-story building. Local real estate investor Ted Welch owns the top six floors.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
