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Starwood Sells W New Orleans to Chesapeake Lodging Trust

Friday April 26th, 2013 - 10:25AM

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.