Starwood Sells W New Orleans to Chesapeake Lodging Trust
Friday April 26th, 2013 - 10:25AM HBG
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STAMFORD, CT—As part of its asset-light strategy, Starwood Hotels & Resorts Worldwide, Inc. has sold the W New Orleans to Chesapeake Lodging Trust for $65 million.
As part of the agreement, Chesapeake Lodging Trust will renovate the 410-room hotel, which is located near to the boutiques, art galleries and jazz clubs of the city's historic French Quarter and the Ernest N. Morial Convention Center.
The W New Orleans is Chesapeake Lodging Trust's fifth Starwood property, joining W New Orleans-French Quarter, W Chicago-City Center, W Chicago-Lakeshore and Le Méridien San Francisco.
Tags: • Hospitality • Brands • Construction/Renovation • Ownership •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.