Posted on: March 6 2012"...the new owners plan to renovate and upgrade the hotel and rebrand it under a Holiday-Inn Express franchise affiliation..."
March 6, 2012
Staff Writer, Global Airport Cities
Real estate investment and development company Laurus Corporation has acquired a 130-room Ramada Suites Hotel at Louis Armstrong New Orleans International Airport.
The hotel is located immediately adjacent to the gateway and at the entrance of the 200-acre James Business Park which offers more than two million square feet of commercial space.
The Ramada Suites Hotel, built in 2003, sits on a 3.4 acre highly visible site, and features more than 3,000 square feet of meeting space, two on-site restaurants, a 189-car parking lot, a swimming pool, courtyard facilities, a gym and business centre.
New Orleans Hotel Partners LLC was formed as an investment vehicle to acquire the property, and the new owners plan to renovate and upgrade the hotel and rebrand it under a Holiday-Inn Express franchise affiliation.
In addition, a new management agreement has been struck with a local management company to “improve overall guest satisfaction and performance”.
Laurus Corporation is a boutique style domestic and international real estate investment and development company, which specialises in hotels and resorts, office buildings and mixed-use properties.