The site remained vacant until 1986 when a group of investors worked together to turn it into a luxury hotel with 125 luxury rooms and 12 suites. The hotel plan was based on the use of "junk bond" financing, and the interest payments were so high the hotel required 90% occupancy at an average room rate of $135 per night to break even. This was not a supportable business model in the 1980s Nashville hotel market, and the project soon went bankrupt, calling the future of the station into question again. However, a new investor group bought the hotel in bankruptcy and was able to operate profitably without charging exorbitant room rates or requiring such a high occupancy rate due to the lower cost basis.