SHERIDAN, WYOMING – Feb. 20, 2025 – Garnet Hotels has announced the acquisition of the 292-room Clarion Hotel New Orleans – Airport & Conference Center from a group of local investors for an undisclosed amount. This strategic acquisition expands Garnet's portfolio to 20 hotels nationwide, including two in the greater New Orleans area.
Hotel to Retain Choice Brand and Undergo Renovation
As the new owner, Garnet Hotels plans to maintain the current Choice brand for the property. The company has also announced that the hotel is currently undergoing a renovation, further enhancing the guest experience. Garnet Hotels is committed to a smooth transition and has retained many key employees, including the General Manager, who has a long-standing history with the property.
Smooth Transaction Facilitated by HREC
"It has been an absolute pleasure collaborating with the buyer, Garnet, and seller on this opportunity," said Len Wormser, broker and HREC SVP, the investment advisor for this transaction. "The Property was placed under contract in mid-January and closed in approximately two weeks, just days before the Super Bowl in New Orleans.” This swift transaction underscores the strong interest in the New Orleans hotel market.
A History of Transformation
The Clarion Hotel New Orleans – Airport & Conference Center has a rich history. Originally built as the Holidome by Holiday Inn, the property featured large indoor recreation areas, a pool, and amusements under a distinctive dome-shaped roof. It was later rebranded as a Crowne Plaza Hotel, at which time the pool area was repurposed into 15,000 sq. ft. of ballroom and meeting space. During the pandemic, the entire property was leased to Shell Oil. Upon reopening to the public, the owners decided to transition to the Clarion brand.
New Orleans Market Poised for Growth
Wormser expressed confidence in the future of the New Orleans hotel market. “The success of Super Bowl LIX is being followed by a robust convention calendar through 2029,” he added. He predicts that “in the next five years, the New Orleans market will experience an increase in record ADR, transaction pricing, and occupancy due to the upcoming convention schedule released by New Orleans & Company and Louisiana Office of Tourism.”
A Vibrant Destination for Tourism and Events
New Orleans continues to be a premier destination for tourism and events. “Mardi Gras, French Quarter Fest, the New Orleans Jazz and Heritage Festival, Zurich Golf Classic and more than 50 local festivals and events annually welcome millions of visitors – and many new investors to take a serious look at hotel opportunities in the market,” Wormser stated. This vibrant calendar of events, coupled with the robust convention schedule, makes New Orleans an attractive market for hotel investment. Garnet Hotels' acquisition of the Clarion Hotel New Orleans – Airport & Conference Center positions them well to capitalize on this growth.
Commitment to the New Orleans Community
Garnet Hotels' investment in the Clarion Hotel New Orleans – Airport & Conference Center demonstrates their commitment to the New Orleans community. By retaining key employees and undertaking renovations, Garnet Hotels is investing in the property's future and ensuring a positive experience for guests. This acquisition further solidifies Garnet Hotels' presence in the New Orleans market and strengthens their overall portfolio. The company is poised for continued success as the New Orleans tourism and hospitality industry continues to thrive.
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