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Texas  + State of Texas  + Hospitality  |  May 28, 2024
NOLA dual-branded hotels flips for $72M
Mike Boyd
By: Mike Boyd

New Orleans Dual-Branded Hotel Flips for $73M

The 410-room, dual-branded Courtyard New Orleans Warehouse Arts District and SpringHill Suites New Orleans Warehouse Arts District, located near the Ernest N. Morial Convention Center/Arts and Warehouse District of the Central Business District, has been sold for $73 million.

Guidry Land Partners and Orlando businessman David Bansmer purchased the properties. The hotels were sold unencumbered by management and fee simple. InterMountain Management, which operates the buyers’ 19-story, 232-room Residence Inn on St. Charles Ave., has been selected as the new management company.

Len Wormser and Scott Stephens, of Hospitality Real Estate Consultants (HREC), together with Cushman & Wakefield Commercial Real Estate Services, arranged the sale.  

The New Orleans lodging market is expected to have an uptick in the 2024-26 timeframe anchored by a full convention calendar for 2024-2026 and the Super Bowl returning to the city for the 11th time in February 2025.

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Guidry Land Partners

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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