Five Nashville Hotel Properties Affected by Flood Reopen

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According to Smith Travel Research, five of the seven hotels in the Nashville, Tennessee, area that were affected by the recent flooding, have reopened.

The seven properties that were closed by the flooding this week include 3,920 guestrooms, which represent 11 percent of the 35,629 rooms in the metropolitan Nashville market.

Gaylord Opryland Resort & Convention Center, which experienced severe damage and remains closed, accounts for 2,881 rooms and 8 percent of the market's total room inventory.

See prior Real Estate Channel post May 5, 2010: Gaylord Opryland Hit Hardest in Tennessee Floods; Governor Asks Obama for Disaster Relief

The resort is a major economic driver for the Nashville market, and its closing will have a dramatic effect on the area's hotel industry. The Gaylord Opryland accounts for more than one third of the guestrooms in the area's Luxury and Upper Upscale chain-scale segments room supply.

The Springhill Suites Nashville Metro Center also remains closed and is expected to reopen next week.

Four other hotels that reported flood damage have remained open this week.

"The massive flooding in Nashville will dramatically affect the city's hotel industry for an extended period of time," said Mark Lomanno, president of STR. "Having a property the size of the Gaylord Opryland out of commission for a number of months will artificially skew Nashville's hotel performance numbers. It's a tough hurdle for everyone in Nashville to clear, but we're confident that the hoteliers in STR's hometown will emerge from this stronger than ever when the rebuilding is done."

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