Laurus Corporation, a U.S.-based private real estate investment and development firm, announced that it has completed the $2.7 million renovation of the Ramada Suites Hotel at New Orleans Airport and branded the power as a vacation Inn Express. The renovation included a whole overhaul of the guestrooms, public areas, exterior facade and landscaping. Additionally, a brand new management agreement was signed with a neighborhood management company to enhance overall guest satisfaction and function.
Laurus Corporation acquired the 130-room lodging establishment in March 2012. Situated on the entrance of James Business Park, an upscale, 200-acre business park offering greater than two million square feet of business space, the hotel is straight away adjacent to the Louis Armstrong New Orleans International Airport, which serves approximately 9.7 million passengers per year, the majority of them non-connecting travelers.
“In 2012, the choice of visitors statewide was projected to succeed in 24.8 million individuals with total visitor spending estimated at $9.1 billion,” said Philip Cyburt, Chief Executive Officer of Laurus Corporation. “The hotel’s proximity to a bustling airport and its location in a vigorously recovering market will make it a major destination for visitors.”
“The extensive renovation program will enhance the hotel’s brand in a well-performing marketplace in addition to increase the asset’s performing value,” said Austin Khan, Chief Investment Officer of Laurus Corporation.
Exterior renovations include a brand new pool deck, courtyard deck and fountain, landscaping surrounding the valuables and a brand new paint job. The lobby, breakfast area and conference rooms feature new flooring, lighting fixtures, window treatments, furniture and televisions. Guestrooms will showcase new flooring, furniture, lighting and window treatments, and upgraded fixtures within the guest bathrooms.
The hotel features 3,000 square feet of meeting space, two on-site restaurants, a 189-car parking zone, and the most efficient valuable fitness and business centers among its competitors.