KNOXVILLE, Tenn. — Vector Hospitality, a Georgia-based hotel developer, is looking to bring two new hotels to the downtown Knoxville area. It said it believes Knoxville is a growing and transforming city, with "increased economic vitality" and a burgeoning community.
A statement from the developer is available below.
"Our decision to invest in hotel development in Knoxville is deeply rooted in our recognition of the city's remarkable urban growth. Knoxville has been experiencing a dynamic transformation, marked by increased economic vitality, infrastructure development, and a burgeoning community. As urbanization continues to redefine the cityscape, we see Knoxville emerging as a key player in the regional business and tourism sectors. The demand for quality accommodations in line with contemporary hospitality trends is evident, and we are enthusiastic about being part of Knoxville's journey towards becoming a premier destination for business and leisure travelers alike."
Kim Bumpas, the President of Visit Knoxville, said there are many things that make Knoxville attractive to visitors and investors.
"The Urban Wilderness and Outdoor Adventure, and then all the restaurants we have, all the shopping that you can do, and then all of our attractions," said Bumpas. "I mean, we have the most historic homes open on any given day, we also have the Women's Basketball Hall of Fame, we have our partnerships with the University of Tennessee."
Vector has been working on plans to build the "Tempo by Hilton," which will be located behind the YWCA Knoxville building. Another hotel, the "AC Hotel by Marriott," will be located on Walnut and Locust streets.
A statement from the company on the hotels is available below.
"Our decision to invest in the development of hotels in Knoxville stems from an understanding of the evolving hospitality landscape in the area. Knoxville, with its vibrant and growing economy, presented itself as an ideal location for these two brands. The city's dynamic business environment and its increasing appeal as a destination for both business and leisure travelers were key factors in our decision to be a part of the Knoxville community.
We identified a need in the downtown Knoxville hospitality scene for premium, modern business hotels that offer a blend of sophistication and contemporary amenities. our investment in Knoxville is not solely driven by economic factors but also by our belief in the city's potential for growth and our commitment to being a positive contributor to the local community. We look forward to becoming an integral part of the Knoxville business and hospitality ecosystem and contributing to the city's ongoing success.
The hotel also said building two hotels would show off unique aspects of each brand, and by building two they hope to offer different kinds of "premium offerings." Another statement from the developer is available below.
Our decision to integrate an AC Hotel by Marriott and Tempo by Hilton into the Knoxville hospitality scene stems from a thoughtful analysis of what each brand uniquely brings to the table. We aim to provide a diverse range of premium offerings that cater to the varied preferences of today's travelers. Each brand contributes its unique strengths to create an exceptional and memorable guest experience. We firmly believe that these brands encapsulate the very best that Marriott and Hilton have to offer, making them an exceptional fit for Downtown Knoxville."
Bumpas said bringing in new investors can be good for the area.
"If you're a hotel investor, and you're looking at a destination to open a new product, a lot of that's happening right here in Knoxville," said Bumpas. "So they're kind of doing their own analytics, they see the growth that we see. And then they're developing to maybe do their project here."
Bumpas said investors usually set up where it makes the most sense for their needs. She said the downtown Knoxville hotel locations will also offer convenience to visitors.
"When a visitor comes to Knoxville, a lot of times if they're here for the leisure component. They might be looking at a downtown property so that they can just park and walk to eat, walk to shop, walk to the riverfront, rent a paddleboard, paddle down, rent a bike, do all kinds of things," said Bumpas.
The Knoxville-Knox County Planning Commission's Design Board is expected to discuss Tempo by Hilton on Wednesday, Feb. 21. The staff made recommendations to approve the certificate as long as the final drawings meet the appropriate standards.
In the same emailed statement, Vector said the primary focus is on developing the current two hotels in Knoxville, but they haven't counted out more hotels in the future.
"While our primary focus is currently on the successful development and operation of the AC and Tempo, we are optimistic about the potential for further expansion in the area. The decision to undertake additional projects will depend on various factors, including market dynamics and the overall economic landscape."