A hotel in Nashville, Tennessee, is going to cost you $6,500 for a room, with a maximum stay of two nights, according to a new report.
The National Association of Realtors reported that the city has more than 4,200 hotels and condominiums, many of which are in the $1 million-$5,000 range, but only one, the Holiday Inn, has a daily rate higher than that.
The Hilton Garden Inn and the Hilton Marquis in downtown Nashville have monthly rates of $5,500, but there are many others in the same price range.
“The most common rate we’ve seen is $5.50 per night, but we’ve had some of them that are as high as $8,000 per night,” said NAR Realty president Kevin O’Neill.
The average room in a $1-million-plus hotel in downtown is $2,100, and a $2.5 million-plus room in the Holiday is $6.50 a night.
“What’s different is they’re not the cheapest,” O’Brien said.
“The average room is $1,800 and the average stay is two nights.”
The hotel chain Hilton, which is owned by Hilton Hotels & Resorts Worldwide, said the rate for the Holiday’s monthly rate in Nashville is $3,750, but it is possible to pay the maximum amount per night.NAR Realtor, who works for the company, said a one-night stay at the Holiday can cost up to $1.5, or the maximum per night is $4,750.
That’s $2 per night in Nashville.
The other two properties in downtown where the maximum rate is higher are the Marriott Nashville and the Four Seasons Hotel &.
A $5 million monthly rate is also reported, and the rate is $7,750 per night for a three-night maximum stay.
The Hilton Garden is the only hotel in the city to report monthly rates higher than $4 million per night.
“When you’re talking about a downtown hotel, you’re looking at a $3 million maximum,” O”Brien said, referring to the $3.5-million rate reported in the Hilton Garden.”
They are just taking advantage of a problem,” O”‘Brien said of the higher rates.
“It’s just a problem for hotels in the downtown area.
They are trying to keep it artificially low, and it’s just not working.”
The average hotel room in Nashville costs $2-3,000.
Many of the downtown properties are at or near the downtown’s high-end of $10,000 to $15,000 a night, with one room costing as much as $3-5,00.
The NAR report also shows the city’s downtown hotel rate is even higher than the rest of the metro area.
The median price of a room in downtown Chattanooga is $873 per night and downtown Louisville is $825.
The city of Memphis is the highest in the country at $2 million a night with a monthly rate of $6 per night; Memphis is also the city with the most downtown hotels.
In Memphis, where downtown is considered a hotspot, the average rate is at least $2 a night for three-bedroom suites.
But that number drops to $2 for one bedroom and $1 for one-bedroom condominium.
Nashville’s downtown is also among the citys priciest for condos, costing an average of $4.3 million per year in the most recent report.
The cost of a downtown condo in Nashville ranges from $6 million to $8.7 million a year.
The average number of people who move to Nashville each year is about 3,000, but many of the new people arrive after a year of work or school and are looking to make a quick buck.
“It’s kind of like the city of Nashville, they are just starting to get a bit more competitive with other big cities, like Atlanta, New York, San Francisco,” said O’Bryan.
“They have an opportunity to start to build a little bit more of a hotel industry.”
The number of downtown hotel rooms is also increasing as people move downtown to work or schools.
About 40 percent of the city population moved downtown last year, and many of those were looking to spend a night downtown.
The report showed a 40 percent increase in downtown overnight stays.
According to O’Connor, most of the hotels are not in the business of selling rooms, but are just doing business as brokers.
The hotels are selling suites and condos, which could bring in more revenue for the business, he said.
O’Connor said a hotel is not a business, so it’s not a concern for the city.
“If the hotel doesn’t sell the suites or condos, that’s not an issue,” he said, adding that a hotel needs to sell its