Hunter Advisors has overseen the sale of the Courtyard Knoxville (Tenn.) Cedar Bluff and Residence Inn Knoxville (Tenn.) Cedar Bluff. The transaction was brokered by SVP Tim Osborne on behalf of the institutional seller. Both the seller and buyer are private groups and requested anonymity. Other terms and conditions were not disclosed.
Located off the I-75 and I-40 connector in a prominent commercial and retail corridor, the two hotels are close to more than 200 nearby restaurants and entertainment venues. The location provides connectivity to key regional demand generators including downtown Knoxville, Oak Ridge, the University of Tennessee, Neyland Stadium, Thompson-Boling Arena, Oak Ridge National Laboratory and the Women’s Basketball Hall of Fame as well as proximity to more than 60 local historical sites.
The Courtyard Knoxville Cedar Bluff is a 78-key, three-story hotel with a Bistro, 650 square feet of meeting space, an indoor pool and a fitness center.
Adjacent to the Courtyard, the Residence Inn Knoxville Cedar Bluff is also a 78-key, three-story hotel to meet extended-stay demand. The property has a mix of studio, one-bedroom and two-bedroom suites with separate living and sleeping areas and in-room kitchenettes. Amenities include complimentary breakfast, an outdoor pool, a fitness center and a business center.
“Cedar Bluff represents one of Knoxville’s most established and consistently performing hotel submarkets,” Osborne said in a statement. “This portfolio offered the investor the opportunity to acquire two institutional Marriott brands with complementary guest profiles in a high-growth, economically diverse market. The combination of location, brand strength, and long-term fundamentals generated strong interest and allowed us to execute a smooth and disciplined sale process.”
According to Hunter, Knoxville continues to benefit from a diversified economic base anchored by education, tourism, corporate headquarters, and a significant federal and state government presence. The market has experienced sustained growth in recent years, driven by increased tourism activity, a vibrant downtown district, and major employers including Clayton Homes, Pilot Corporation, Regal Cinemas, the Tennessee Valley Authority, and Oak Ridge National Laboratory. These dynamics continue to support consistent lodging demand across corporate, leisure and extended-stay segments.