Chesapeake Lodging Trust announced today that it has purchased the W New Orleans – French Quarter from Starwood Hotels & Resorts Worldwide, Inc for $25.5 million. The Trust has entered right into a long-term management contract with Starwood to continue to function the Hotel.
“We are very excited to expand our Starwood relationship with our third W hotel and fourth Starwood-branded hotel, including the Le Meridien San Francisco,” stated James L. Francis, President and Chief Executive Officer of the Trust. “This Hotel is in a superior location and is in exceptional condition following Starwood’s recently completed comprehensive renovation program. With the Hotel’s first four diamond rating in its history, we believe this is often the ideal asset for Chesapeake to go into the rebounding New Orleans marketplace.”
The W New Orleans – French Quarter is found on Chartres Street, just steps from Jackson Square and the numerous retail and jazz clubs of the French Quarter. The valuables features 97 well-appointed guestrooms, including four carriage house studio suites. The renovation program ended in the addition of a brand new SWEAT state-of-the-art gymnasium, and SoBou, a modern Creole cuisine restaurant that was named some of the top 10 new restaurants by Esquire Magazine.
The renovation program was influenced by the wealthy history and culture of recent Orleans. There are two distinct guestroom themes; Jazz, with vibrant golden yellow walls and a floor-to-ceiling brass image modeled after a horn and Tarot, which was inspired by the recent Orleans’ voodoo queen, Marie Laveau. Rooms feature a 40” LCD flat screen, signature W brand bedding, iPod docking station and Bliss bath amenities.
“From the hot Front room lobby to the enormous outdoor, tree-lined courtyard with its heated pool, the W New Orleans – French Quarter is the ideal place to enjoy all that New Orleans has to give,” continued Mr. Francis. “This is another outstanding addition to our growing portfolio of high-quality lodging assets.”
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