Doubletree New Orleans sells for $85 million

Posted on: February 4 2015

By: Robin Shannon, Reporter , City Business

Another prime hotel property in the downtown area has changed hands. The Doubletree New Orleans on Canal Street recently sold to a Chicago real estate investment firm.

Walton Street Capital, a private equity real estate investment firm, paid $85.25 million for the 367-room hotel at 300 Canal St, according to Orleans Parish sales records. The deal, which closed Jan. 14 and was recorded Tuesday, breaks down to roughly $232,290 per room.

The hotel was purchased from Canal Street Property LLC, a Delaware company. Louisiana corporation records list Christopher D. Schott of Burrus Investment Group in Metairie as the registered agent for Canal Street Property. Schott could not be reached for comment.

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