The owners of the Fontanel entertainment complex in Whites Creek have unveiled plans to build a 136-room luxury resort-style hotel — along with a banquet facility, pool and retail spaces — to go with their Inn at Fontanel boutique property. Getahn Ward has the story here.
Fontanel Properties pitched those plans to Whites Creek residents Thursday in lieu of pursuing The Lodge at Fontanel, a Holiday Inn resort with 150 rooms and a conference facility/events center. In putting that resort concept on indefinite hold, they cited rising construction costs and challenges with the targeted site in the woods near Fontanel Mansion on the existing 186-acre campus.
Music City Center officials announced today that the convention building has hosted more than 100 events generating an estimated $148.5 million in economic impact through the current fiscal year.
According to a release, in October the MCC hosted 31 events with 46,381 attendees, generating 36,036 room nights and an estimated $37.9 million in economic impact.
Fiscal year to date (starting July 1), the building has hosted 102 events with 233,695 attendees, generating an estimated $148.5 million in economic impact.
Tax collections continue to outperform expectations, MCC officials said, with the Music City Center portion of tax collections up 4.99 percent year over year for August.
“Between Academy of Nutrition and Dietetics, Juice Plus and Society of Women Engineers, not to mention a number of other midsize events, we were incredibly busy in October, Charles Starks, MCC president/CEO, said in the release. “This year the events have really been back to back with almost no down time, which is a testament to Nashville’s strength as a convention destination.”
It seems visitors from afar continue to enjoy Music City.
Nashville ranks No. 1 on TripAdvisor’s just-released Top 10 U.S. Cities with the Greatest Increase in Share of Traffic from International Traveler list. Specifically, Nashville saw a 38 percent increase in such visitors during the 12-month evaluation period.
Portland, Main ranks second with a 34 percent increase for the period.
See the full ranking here.
Veteran Wells Fargo analyst Jeff Donnelly has downgraded his rating on shares of Ryman Hospitality Properties to 'underperform' from 'market perform.' Ryman shares (Ticker: RHP) are off more than 1 percent this morning to right around $53. They're flat year to date.
Music City Center officials announced today that the SoBro-based convention building generated more than $110 million in economic impact during the first quarter of fiscal year 2016.
The figure is double the mark that was generated during the first three months of fiscal year 2015, according to a release.
In September specifically, the MCC hosted 31 events with 41,696 attendees, generating 12,438 room nights for about $21 million in economic impact. Fiscal year to date, the building has hosted 71 events with 187,314 attendees, generating $110.6 million in economic impact. According to the release, tax collections continue to outperform expectations, with the MCC portion of tax collections was up 19.72 percent for July year over year.
“Our team continues to do an outstanding job juggling multiple, large events in the building at the same time and this has enabled us to produce these kind of economic impact numbers,” Charles Starks, MCC president and CEO, said in the release. “During Mayor [Megan] Barry’s inauguration in the Grand Ballroom, we had 15,000 guests in the building for other events and everything went very smoothly.”
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