Le Pavillon Hotel on Poydras Street is under new ownership for the first time in 26 years. According to parish records, longtime owners Brothers Property Corp. of Florida sold the 226-room property to Ashford Hospitality Trust of Dallas.
The buyers withheld the price of their acquisition from public records, which show the deal transpired May 29.
Brothers Property Corp. bought Le Pavillon in 1989 for $6.9 million from the real estate arm of Great American Communications Co. The 2015 assessed value of the property is $19.5 million, according to the Orleans Parish Assessor's website.
Ashford did not immediately respond to an interview request. Le Pavillion is its only portfolio holding in Louisiana.
Originally known as the Hotel Denechaud, the building was constructed in 1907 from designs by architects Toledano and Woggan assisted by Rathbone E. DeBuys, according to the Le Pavillon website. It boasted what was considered the city's first basement and its first hydraulic elevators.
It was renamed Le Pavillon after an extensive renovation in 1970.