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Hotel AG Structures Sale of Historic French Quarter Hotel

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ATLANTA “April 20, 2009” - Hotel Assets Group, LLC (Hotel AG) announced today it has facilitated the marketing and sale of a historic hotel situated in the French Quarter of New Orleans, Louisiana.  The property was sold on behalf of an institutional client for an undisclosed amount to a local owner who will operate it as an independent hotel. 

“We are pleased to have represented a long time institutional client on this very unusual hotel asset,” remarked Keith Thompson of Hotel AG. “The investor was attracted to the hotel because of the consistent demand base generated within the French Quarter.”

The two-story hotel is located along North Rampart Street on the edge of the French Quarter, three blocks from Bourbon Street. Reportedly built circa 1897, the property was converted to a hotel in the mid-1900s and was completely restored to its current style in mid-1990. Facilities include a restaurant and a large outdoor courtyard area with a grotto-style swimming pool.

About Hotel AG
Headquartered in Atlanta, Georgia, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has approximately 75 hotels on the market totaling 8,000 rooms. Hotel AG can be found online at www.hotelassetsgroup.com

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Contact:

H. Keith Thompson
Hotel AG / Hotel Assets Group, LLC
Office: (770) 692- 1605
Fax: (770) 692-1608
kthompson@hotelassetsgroup.com
www.hotelassetsgroup.com
 

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Also See: Hotel AG Highlights Latest Exclusive Engagements / April 2009
Hotel AG Completes the Sale of the 7 Property Select Service Hotel Portfolio / October 2008
Hotel AG, a Hotel Brokerage Company, Sells the Hilton Garden Inn Columbia, South Carolina / September 2008
Hotel Assets Group, LLC Sells Equity Stake in Company to Cassidy Pinkard Colliers / September 2008
Tom Huegel Joins Hotel A.G., A Hotel Brokerage Company / August 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hilton Garden Inn (Savannah International Airport) Savannah, Georgia / August 2008
Hotel AG, a Hotel Brokerage Company, Engaged to Sell the Residence Inn/ Springhill Suites Development in Myrtle Beach South Carolina / July 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn Concord, North Carolina / March 2008
Hotel A.G., a Hotel Brokerage Company sells the 175-Room Doubletree Hotel located in Greensboro NC for $22,500,000 / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Day’s Inn Hotel Hickory, North Carolina / February 2008
Hotel A.G., a Hotel Brokerage Company Closes 2 Hilton Garden Inn Transactions / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Port Wentworth, Georgia / January 2008
Hotel A.G., a Hotel Brokerage Company, Closes 8 Hotel Transactions Within the Last Six Weeks / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Bowling Green, Kentucky / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Harrisonburg, Virginia / December 2007
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Somerset, New Jersey / December 2007
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