Centibillionaire Bill Gates is back in the headlines with his recent acquisition of Downtown Nashville’s Dream Hotel building. Gates’ firm, Cascade Investment, shelled out $82.6 million for the 168-room hotel, as reported by the Nashville Business Journal. Opened in 2019, the Dream Hotel features award-winning interiors by Meyer Davis Studio and occupies two historic landmarked buildings in Printer’s Alley. It offers multiple dining and bar options and is conveniently located within walking distance of downtown’s core.
The tech mogul, familiar with hotel investments, expanded his portfolio in 2021 when Cascade Investment LLC acquired roughly half of Saudi Arabian Prince Alwaleed bin Talal’s stake in Four Seasons Hotels and Resorts. Currently the fourth richest person in the world, with a net worth of $140 billion, Gates now holds a controlling 71.25% stake in the group.
In the post-pandemic landscape, Nashville’s hotel market has attracted significant investor interest. The Real Deal notes that Dreamscape Cos., based in New York City, recently acquired the historic Holston House hotel for just over $60 million. Additionally, an Atlanta-based hospitality firm purchased downtown’s Holiday Inn Express for nearly $82 million last month.
Even the legendary Dolly Parton has joined the trend, investing in the 211 Commerce office building with plans to convert it into a hotel.
