First Major Hotel Sale in the Market Since Early 2023 Signals Rebound of Hotel Market Sales
HREC Investment Advisors and HREC Capital Markets Group announced the sale and financing of the 319-guest room Hilton New Orleans Airport located in Kenner serving New Orleans, Louisiana.
The closing of this transaction completes the $822 million portfolio acquisition from NewcrestImage which included 27 hotels containing 3,709 guestrooms, two parking structures, and various financial incentives.
Acquisition of the historic property marks the second New Orleans hotel in Thompson's Angevin & Co. portfolio
The Siegel Group Nevada, Inc. announced last week that it had acquired two properties previously operated as the Motel 6 New Orleans and Studio 6 New Orleans.
In a move that returns entrepreneur Robert Thompson to his southern roots, the food and beverage veteran's newly established New Orleans hospitality firm, Angevin & Co., has completed the purchase of the historic boutique hotel, The Frenchmen Hotel (417 Frenchmen St., New Orleans, LA 70116).
Cotton Exchange Investment Properties, LLC, an affiliate of Pacific Hospitality Group(PHG), has announced the purchase of AC Hotel New Orleans Bourbon/French Quarter Area from an affiliate of Dallas-based NewcrestImage, LLC.
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced last week that it has completed the acquisition of the 226-room Le Pavillon Hotel for total consideration of $62.5 million in cash ($277,000 per key).