The recently sold Courtyard New Orleans Warehouse Arts District and SpringHill Suites New Orleans Warehouse Arts District, boasting 410 rooms, have been acquired for $73 million. The properties are situated near the Ernest N. Morial Convention Center/Arts and Warehouse District in the bustling Central Business District.
Guidry Land Partners and Orlando businessman David Bansmer made the purchase of these unencumbered hotels through fee simple ownership. The new management company selected to operate them is InterMountain Management, known for their successful operation of a 19-story Residence Inn on St. Charles Ave.
Hospitality Real Estate Consultants (HREC) partners Len Wormser and Scott Stephens collaborated with Cushman & Wakefield Commercial Real Estate Services to facilitate this sale.
Experts predict a promising future for the New Orleans lodging market as it gears up for an expected increase in activity between 2024-26 due to a full convention calendar during those years as well as hosting its eleventh Super Bowl in February 2025.
