W of New Orleans – French Quarter Trades for $25.5M
By Eliza Theiss, Associate Editor
Annapolis, Md.-based Chesapeake Lodging Trust has announced finalizing the purchase of the 97-key luxury W of New Orleans – French Quarter. The self-advised lodging REIT acquired the property from Starwood Hotels & Resorts Worldwide Inc. for $25.5 million.
Located on Chartres Street, the W is within a short walk of Jackson Square and the world-famous French Quarter’s entertainment, dining and shopping venues. The hotel boasts a four-diamond rating, courtesy of a major revamp it underwent in 2012. Following the renovation, the hotel now boasts amenities such as a state-of-the-art signature SWEAT fitness center, a tree-lined heated WET branded outdoor pool, a Living Room lobby, and more than 735 square feet of high-tech meeting space overlooking a classically New Orleans courtyard and capable of hosting 150-guest events. The W also boasts the SoBou restaurant and bar, named in Esquire magazine’s Top 10 ranking. The locale offers contemporary Creole cuisine and an innovative cocktail program.
The 97 guest rooms include four carriage-house studio suites and a deluxe suite. The recent renovation revamped guest rooms as well, and they now reflect the Big Easy’s unique culture and history. Rooms either exude “Jazz,” with golden yellow walls and a floor-to-ceiling brass image modeled after a horn, or voodoo mysticism in the “Tarot” rooms, inspired by famed New Orleans voodoo queen Marie Laveau. Amenities include 40-inch LCD flat-screen TVs, IPod docking stations, infrared keyboards and Bliss bath paraphernalia.
Starwood owned the property since 1997. It will continue to manage the hotel under a long-term contract.
The W of New Orleans – French Quarter is Chesapeake’s third W-branded property and fourth Starwood hotel. The company owns 17 hotels totaling 5,004 rooms.
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