The Doubletree Hotel at 407 Chestnut St. has sold for $27.5 million.
The sale was from Vision Chestnut Hotel Group.
The entity making the purchase was in the name of Kre Hip Tree Chattanooga Owner LLC, a newly formed LLC.
It was purchased by Kohlberg Kravis Roberts LLC of New York City, a private equity company.
The high rise hotel features 186 rooms.