Reade Hotel Capital paid $57.5 million for Embassy Suites Nashville at Vanderbilt, which the Nashville Business Journal reports is nearly $9 million less than what it sold for a decade ago.

The hotel, owned by investment trust Moody National Reit II Inc., is located at 1811 Broadway on 1.25 acres.

Moody National Reit II paid $66.3 million for the Embassy Suites in June 2015. With 208 rooms, the pending deal is equivalent to around $276,442 per room.

On its website, Reade Hotel Capital describes itself as a hotel investment company that targets the acquisition of first-class assets across the country. The firm owns two hotels in New York and one in New Orleans.

Downtown’s 1 Hotel and Embassy Suites sold to Host Hotels & Resorts Inc. for $530 million last year.