Local hotel owner, The 9 Group, purchased the 195-key Crowne Plaza Knoxville (Tenn.) Downtown University from a private seller for an undisclosed amount. Other terms and conditions were not disclosed. Hotel Hotel Advisors’ Tim Osborne, senior vice president, facilitated the transaction from the firm’s Chattanooga office.
Located in downtown Knoxville, the hotel is directly across from the Tennessee Valley Authority headquarters and steps from Market Square, a popular pedestrian district filled with restaurants, bars and local shops. The property is within easy walking distance to key entertainment venues such as the Tennessee Theater, World’s Fair Park and the Bijou Theater, as well as the University of Tennessee.
The Crowne Plaza is one of the few hotels in the downtown core with more than 15,000-square-feet of meeting space, making it a strong option for corporate meetings, conferences and group events. Additional amenities include Mahogany’s, a full-service restaurant, along with an indoor pool, fitness center and a business center—all of which position the hotel to serve a broad mix of leisure, business and group travelers.