Hospitality Group

Hotel AG Announces Call for Offers on the New Orleans Holiday Inn Portfolio

 

Holiday-Inn-Galleria-New-Orleans-Hotel-Assets-Group

      Holiday-Inn-Convention-Center-New-Orleans     

Holiday Inn Galleria - New Orleans, LA

Holiday Inn Convention Center - New Orleans, LA

The Hospitality Division of NAI Latter & Blum in concert with Hotel AG is announcing a call for offers for the New Orleans Holiday Inn Portfolio. The call for offers will be held on Tuesday, June 21, 2016. The Hospitality Division of NAI Latter & Blum in concert with Hotel AG is pleased to offer for sale the fee simple interest in the 385-room Holiday Inn Portfolio in New Orleans, Louisiana. The offering consists of two properties: the 205 room Galleria and the 180 room Convention Center/WB which can be purchased separately or together. This institutional quality, highly visible portfolio anchors the CBD and Convention Center Districts and is located at the intersection of Interstate-10 and Causeway Boulevard – Galleria: and on the Interstate-10, 4 minutes from the Convention Center (CC/WB), both main thoroughfares in suburban New Orleans. The Hotels are being offered unencumbered by management, with the Galleria property a prime candidate to up brand to Delta by Marriott. Each hotel is ideally and centrally located to serve the Metropolitan area; with the Galleria less than 9 minutes from the Louis Armstrong International Airport, and the Convention Center/WB less than 7 minutes from the 1.1 million square foot Morial Convention Center which is slated for a 250,000 square foot expansion by 2020. The Central Business District, the famous French Quarter, Harrah’s Casino, and the Mercedes-Benz Superdome all are within 7 minutes or less from each property. 

The Properties feature outdoor pools, business centers, three video poker machines, guest laundries, fitness centers, ample parking, and offer transportation to the airport and Convention Center. Each Property’s Food & Beverage options currently comprise a three meal restaurant, room service, and an attractive bar area Each having substantial upside potential through outsourcing/leasing each venue. Both Properties were recently renovated and have 8–12 years remaining within their respective Franchise Agreements. 

For more information about the properties, please contact H. Keith Thompson at kthompson@hotelassetsgroup.com or 770-692-1605.

published: 04-20-2016

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