Knoxpatch.com has learned that the old convention center property, under the Holiday Inn, has been sold to foreign investors. The tentative plans of these investors is to create a so-called “capsule hotel.” These hotels, popular in Japan, allow many more people to sleep in the same space as their Western counterparts. The investors expect to add some 6500 beds to Knoxville’s downtown lodging space. Rooms will measure 1 meter high by 1 meter wide by 2 meters deep. Metric-to-English conversions were not immediately available. Each room will feature a small color TV/clock radio combo, power outlet, and door. No estimated completion time was provided. The Holiday Inn stated that this development would allow them to reclassify their existing rooms as luxury, and will justify a price increase.