US: The 410-room dual-branded Courtyard New Orleans and SpringHill Suites New Orleans Warehouse Arts District has been sold for $73 million.
Robert J. Guidry along with Guidry Land Partners and Orlando businessman David Bansmer, purchased the site.
Hospitality Real Estate Counselors’ SVP Len Wormser, and senior principal and COO Scott Stephens, together with Cushman & Wakefield, handled the sale.
InterMountain Management, which operates the buyers’ 19-storey, 232-room Residence Inn on St. Charles Avenue, has been selected to manage the acquired property.
“This transaction represents the first hotel of any significance sold in the New Orleans CBD French Quarter market in the last 16 months,” said Wormser. “The New Orleans lodging market is and will experience significant positive tailwinds in 2024-26 anchored by a full convention calendar 2024-2026, highlighted by the Taylor Swift three night concert in October 2024 and Superbowl returning to the city for the eleventh time in February 2025.”
Guidry said: “Clearly I am very bullish on New Orleans as with this purchase we now own three hotels with 642 rooms in this city and no doubt in my mind we will add to the portfolio over time. This city simply has more to offer visitors than any other in our country.”
