• Embassy Suites Nashville Hotel   

Starwood Capital Group, Crescent Real Estate LLC and High Street Real Estate Partners today announced that controlled affiliates have completed the sale of the 1 Hotel and Embassy Suites in Nashville, Tennessee, to Host Hotels and Resorts, a lodging real estate investment trust and owner of luxury and upper-upscale hotels. Terms of the transaction were not disclosed.

"Our successful development of 1 Hotel and Embassy Suites, together with our partners at Crescent, further demonstrates the strength of our hospitality platform and our commitment to bringing eco-friendly, luxury guest experiences to market," said Barry Sternlicht, Chairman and CEO of Starwood Capital and founder of 1 Hotels, the mission-driven luxury lifestyle hotel brand. "This award-winning project has quickly risen to be one of the top performing hotel developments in Nashville and I am confident the Host Hotels and Resorts team is an ideal steward for this property going forward."

"We are proud to have joined Starwood Capital in developing this project into a premier destination at the forefront of luxury and sustainability in Nashville's thriving hospitality economy," said Jason Anderson, Co-CEO at Crescent. "Together with our partners, we are delighted that our highly successful joint venture has executed our business plan and created significant returns for our investors."

Opened in 2022, the dual-branded Nashville 1 Hotel and Embassy Suites consists of an 18-story 1 Hotel – Starwood Capital's award-winning, eco-conscious, luxury lifestyle brand hotel – and a 30-story Embassy Suites by Hilton hotel tower. The development totals 721 rooms with more than 26,000 square feet of meeting space, including desirable guest amenities such as the 1 Hotel's holistic spa, rooftop bar and event deck area and Embassy Suites by Hilton's rooftop swimming pool, bar and event space. Located on the corner of Demonbreun Street and 7th Avenue South, directly across from Nashville's Music City Center, the site is in the heart of Nashville's downtown restaurants and entertainment venues and one block from Bridgestone Arena, home of the Nashville Predators, and host to numerous concerts and events.

In recognition of the property's innovative and eco-friendly design, world-class guest experience and striking architecture, the development was awarded 2022 Development of the Year at the Americas Lodging Investment Summit (ALIS).