W New Orleans – French Quarter
W New Orleans – French Quarter Unveils Multimillion-Dollar Guestroom Renovation
W NEW ORLEANS - FRENCH QUARTER | March 19, 2024
As part of a multi-year brand evolution, W Hotels is ushering in a new era with sophisticated detail-driven design New Orleans, LA - March 19, 2024 – W New Orleans – French Quarter, part of Marriott Bonvoy’s global portfolio of over 30 extraordinary hotel brands, today debuts the highly-anticipated multimillion-dollar renovation of its 97 reimagined guest rooms and carriage houses. Led by Canadian design firm Chapi Chapo Design, the city’s bustling and vibrant epicenter is at the heart and soul of this project, and masterfully captures the intricate textures and soothing tones reminiscent of New Orleans’ world-famous Bayou. "We a...
Park Hotels & Resorts Completes Sale of W New Orleans – French Quarter for $24.1M ($249K per Key)
Park Hotels & Resorts | April 26, 2021
TYSONS, Va. - April 26, 2021 - Park Hotels & Resorts Inc. today announced that it has closed on the sale of the 97-room W New Orleans – French Quarter (the “Hotel”) located in New Orleans, LA, for gross proceeds of approximately $24.1 million, or $249,000 per key. When adjusted for Park’s anticipated capital expenditures (“capex”), the sale price represents a 4.3% capitalization rate on the Hotel’s 2019 net operating income (5.8% excluding capex), or 17.9x the Hotel’s 2019 EBITDA (13.3x excluding capex). Proceeds from the sale will be used to repay debt. The sale of the Hotel marks the 25th non-core hotel that Park has...
