Over the next three years, Nashville is expecting an influx of five-star hotel brands that include 1Hotel, Edition, Conrad, and Ritz-Carlton, plus a full renovation of the city’s grand dame, The Hermitage.

The price for the portfolio, with seven properties and 4,500 beds, is $725 million. Harrison Street is the buyer.

With industry fundamentals continuing to strengthen following a steep dip during the pandemic, some hotel investors are back in building mode.

Pressures in the single-family home sales are leading to bidding wars in the rental market, reports The Wall Street Journal. Fortune analyzes how investors buying homes has helped drive up housing prices. These are among today’s must reads from...