City Sells the Chattanoogan Hotel
CHATTANOOGA (WDEF) – The city of Chattanooga has finally found a buyer for its prize hotel.
Ascent Hospitality has purchased the Chattanoogan Hotel for $27 million.
The city built the hotel in conjunction with the Convention and Trade Center.
This completes the deal announced in the spring.
The city thought they had another buyer last fall for more money, but those negotiations fell through.
The sale clears a large chunk of the debt on the city books for building the hotel in the first place.
Chattanooga built the facility in 2001 as a lure for businesses to book events at the Trade Center.