Valor Hospitality Partners Set to Open The Harpeth, a Curio Collection by Hilton™ Hotel, in Downtown Franklin This Summer

USA, Franklin, Tennessee. July 18, 2019

Valor Hospitality Partners announced today plans to open the 119-room The Harpeth Hotel in the heart of historic Franklin, Tenn. in August 2019. A Curio Collection by Hilton, The Harpeth will be Franklin's first luxury downtown hotel, featuring spacious rooms, an upscale chef-driven restaurant, European-style street café, over 5,000 square feet of meeting space and access to an in-complex day spa - A Moment's Peace Salon and Day Spa.

Founded on stories that bring together history, culture, music, whiskey and more, The Harpeth will be nestled in Franklin's historic district, next to the banks of the Harpeth River, just south of Nashville, Tenn. The boutique hotel will feature elegantly designed guest rooms and spacious suites, combining the subtle touches of Franklin's rich history with modern-day comfort. Rooms will include 55" LCD TVs, lavish bathrooms, with oversized showers and tubs, plush robes and slippers, among other amenities.

The Harpeth will also be home to 1799 Kitchen & Cocktails, an upscale chef-driven restaurant, and McGavock's Coffee Bar & Provisions, a European-style street café. 1799 will showcase bold flavors of locally and regionally influenced American cuisine. In addition, a full-service bar, with a heavy focus on regionally distinctive bourbon, rye and American whiskeys. McGavock's, named after the well-known Middle Tennessee family, will serve Honest Coffee Roasters coffee along with artisanal sandwiches, freshly baked pastries, freshly pressed juices, hand dipped ice cream and a selection of premium wines, local craft beer and liquors.

"With its rich history, a great music and art scene, and fantastic artisanal options, Franklin is one of the best places in the country to visit right now," said Justin Foster, General Manager of The Harpeth. "We're looking forward to opening the first hotel in the heart of this great city, offering visitors a refined, yet comfortable place to stay and dine, while they explore the unique culture and landscape of the area and create their own stories at our hotel."

The Harpeth will also cater to corporate groups, weddings and other social events, with over 5,000 square feet of flexible event space, including a Riverside Ballroom and Maury Boardroom. A stunning courtyard, with a grand staircase and picturesque fountains, completes the event space. Other thoughtful amenities within the hotel include a whiskey keep and a private library, with a handpicked collection of books that give nod to Franklin's rich history, including the Battle of Franklin.

Additionally, The Harpeth will be part of a larger multi-use complex - Harpeth Square, that will be home to A Moment's Peace Salon & Day Spa, offering a vast range of services and private access to hotel guests. Harpeth Square will in entirely have 150 luxury residences, a 597-space parking garage and a variety of retail vendors.

The Harpeth will be located at 130 2nd Avenue N in Franklin, Tenn., providing guests with easy access to explore the unique culture, local dining and shops, art galleries, entertainment venues, the accredited Historic Main Street, while journeying back into history at one of the civil war museums and battlefield.

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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.