Noble Breaks Ground on Element by Westin in West End Neighborhood of Nashville, Tennessee

USA, Atlanta, Georgia. June 27, 2019

Noble Investment Group ("Noble") today announced they have broken ground on the Element by Westin Nashville. Located in the renowned West End neighborhood of Nashville, Tennessee, the hotel will be the brand's debut in Nashville and will open in 2020.

The upscale, lifestyle hotel will be a part of the vibrant 19-acre mixed-use development, oneC1TY. Anchored by Vanderbilt University, three major medical centers and foremost health care providers, significant corporate headquarters and Nashville's famous Music Row, the hotel will be prominently located in one of the fastest growing markets in the United States.

The Element by Westin Nashville will be LEED certified and will feature 175 guestrooms and suites, an outdoor terrace with an infinity pool, and street-level retail and dining. oneC1TY Nashville will ultimately include more than one million square feet of Class A office space, 100,000 square feet of retail, and 600 multifamily units in a healthy environment which supports activated minds, bodies and souls.

Nashville is ranked among U.S. News and World Report's 2019 Best Places to Live and ranked #7 on Forbes' list of Top 25 Fastest-Growing Cities of 2018.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.