New Orleans Companies Investing in Nashville
ERG Enterprises is very excited to announce that the Thompson Nashville, a 12-story, 224 room luxury boutique hotel located in Nashville’s Gulch neighborhood, is accepting reservations and will hold its grand opening on October 20.
Thanks to our founder and CEO, Dr. Eric R. George, ERG serves as the lead investor on this $75 million project. This is the third hotel project that our firm has collaborated on with the Berger Company. It also marks the second time that we have partnered with AJ Capital Partners with the first project being the renovation of the historic Pontchartrain Hotel.
While the Thompson Nashville means a lot to the Nashville economy, it also reveals an emerging trend in New Orleans companies, especially those investing in real estate markets. New Orleans companies are moving into markets outside of the city. Previously, it was more commonplace for businesses from other cities such as New York to invest in New Orleans, but we are seeing a sea change and local companies are looking for real estate opportunities and investments in other cities.
ERG Enterprises and the Berger Company aren’t the only local firms involved in the Thompson Nashville. Chef John Besh and his company One House Hospitality will be operating the hotel’s main restaurant, Marsh House, a café and a rooftop bar. Like New Orleans, Nashville is experiencing a real estate development boom, and there other familiar New Orleans brands such as Chef Donald Link’s Cochon Butcher and the St. Roch Market expanding into the Tennessee city.
We should see more of this type of investment in the future and it’s a great sign for New Orleans. Our local firms have become sophisticated and large enough to look outside of their home turf while also realizing the value of being headquartered in New Orleans.