The Metro Development and Housing Agency's board voted unanimously to choose Colorado-based Phelps Development and Atlanta-based Portman Holdings to develop the approximately $300 million hotel. It would stand at least 40 stories tall on a 2.4-acre site owned by Tower Investments, another team member, just south of the Country Music Hall of Fame and next to the convention center site.

Phelps and Portman have built hotels together in San Diego, Atlanta, Charlotte, New York, Orlando, Denver and other cities, and 10 of their projects have 1,000 or more rooms. Portman designs the buildings; Phelps - a subsidiary of Hensel Phelps Construction Co. - builds them.

"It's a really solid team," Metro Finance Director Rich Riebeling said. "They've been down this road before, and they've been down this road together."

Two local contractors, R.C. Mathews and Morgan & Morgan, and local architects Earl Swensson Associates will assist the principal firms. MDHA received 10 proposals from development teams.