Hotel Online
News for the Hospitality Executive


advertisement



Chesapeake Lodging Trust Completes Acquisition of the The W New Orleans,
French Quarter from Starwood Hotels & Resorts for $25.5 million


ANNAPOLIS, Md.--(April 1, 2013)--Chesapeake Lodging Trust (NYSE: CHSP) (the "Trust") announced today that it has purchased the W New Orleans – French Quarter from Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT) for $25.5 million. The Trust has entered into a long-term management contract with Starwood to continue to operate the Hotel.

“We are very excited to expand our Starwood relationship with our third W hotel and fourth Starwood-branded hotel, including the Le Meridien San Francisco,” stated James L. Francis, President and Chief Executive Officer of the Trust. “This Hotel is in a fantastic location and is in exceptional condition following Starwood’s recently completed comprehensive renovation program. With the Hotel’s first four diamond rating in its history, we believe this is the perfect asset for Chesapeake to enter the rebounding New Orleans marketplace.”

The W New Orleans – French Quarter is located on Chartres Street, just steps from Jackson Square and the many retail and jazz clubs of the French Quarter. The property features 97 well-appointed guestrooms, including four carriage house studio suites. The renovation program resulted in the addition of a new SWEAT state-of-the-art fitness center, and SoBou, a contemporary Creole cuisine restaurant that was named one of the top 10 new restaurants by Esquire Magazine.

The renovation program was influenced by the rich history and culture of New Orleans. There are two distinct guestroom themes; Jazz, with vibrant golden yellow walls and a floor-to-ceiling brass image modeled after a horn and Tarot, which was inspired by the New Orleans’ voodoo queen, Marie Laveau. Rooms feature a 40” LCD flat screen, signature W brand bedding, iPod docking station and Bliss bath amenities.

“From the new Living Room lobby to the large outdoor, tree-lined courtyard with its heated pool, the W New Orleans – French Quarter is the perfect place to enjoy all that New Orleans has to offer,” continued Mr. Francis. “This is another outstanding addition to our growing portfolio of high-quality lodging assets.”

ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 17 hotels with an aggregate of 5,004 rooms in eight states and the District of Columbia. Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com.
.
Contact:

Chesapeake Lodging Trust
Douglas W. Vicari
410-972-4142




Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

 
To Learn More About Your News Being Published on Hotel-Online Inquire Here

 
Also See: Chesapeake Lodging Trust Completes Acquisition of the 185-room Hyatt Place New York Midtown South for $76.2 million, or Approximately $412,000 per key; Real Hospitality Group Selected as Manager / March 2013

Chesapeake Lodging Trust Repositions the 174-key Hotel Adagio San Francisco as it Joins Marriott's Autograph Collection; A Multi-Million Dollar Renovation of the Property was Recently Completed / February 2013

Chesapeake Lodging Trust Acquires the 222-room The Hotel Minneapolis, a Marriott Autograph Collection Hotel, for $46 million, or approximately $207,000 per key, from HEI Hotels & Resorts / October 2012

Chesapeake Lodging Trust Acquires the 429-room Hyatt Regency Mission Bay Spa and Marina in San Diego, California for $62.0 Million / September 2012

Starwood Hotels Completes Sale of W Chicago - Lakeshore to Chesapeake Lodging Trust for $126 Million; Chesapeake to Launch Renovation of the 520 Guestrooms and Public Spaces, Starwood to Continue to Manage Hotel Under the W Flag / August 2012

Chesapeake Lodging Trust Enters Definitive Agreement to Acquire the 185-room Hyatt Place New York Midtown, Currently Under Development, for $76.5 million, or Approximately $414,000 per key / January 2012

Chesapeake Lodging Trust Acquires the 122-room Holiday Inn New York City Midtown – 31st Street in New York, New York for $52.2 Million or $428,000 per key; to be Managed by Real Hospitality Group / December 2011

Chesapeake Hospitality Selected to Manage the Newly Converted Doubletree by Hilton Raleigh Brownstone University Adjacent to North Carolina State University, Owned by MHI Hospitality Corporation / December 2011

Chesapeake Lodging Trust Completes Acquisition of the 613-room Denver Marriott City Center in Denver, Colorado / October 2011

Chesapeake Lodging Trust Enters Agreement to Acquire the 613-room Denver Marriott City Center in Denver, Colorado for $119 million, or Approximately $194,000 Per Key / August 2011

Chesapeake Lodging Trust Acquires the 171-room Hotel Adagio in San Francisco for $42.25 million; Management of Property to Remain with Joie de Vivre Hospitality / July 2011

Chesapeake Lodging Trust Acquires 204-room Courtyard Washington Capitol Hill/Navy Yard in Washington, DC for $68 Million or About $333,000 per Key / July 2011

IHG Sells 210-room Hotel Indigo San Diego to Chesapeake Lodging Trust for $55.5 Million / June 2011

Chesapeake Lodging Trust Acquires Homewood Suites Seattle Convention Center for $53 million, or Approximately $272,000 per key / May 2011

Chesapeake Lodging Trust Announces a Definitive Agreement to Acquire the 195-room Homewood Suites by Hilton Seattle Convention Center for $53 million or Approximately $272,000 per key / November 2010

Chesapeake Lodging Trust Acquires the 153-room Courtyard Anaheim at Disneyland Resort in Anaheim, California for $25.0 million ($163,000 per key) and the 430-room Boston Marriott Newton in Newton, Massachusetts for $77.25 million ($180,000 per key) / August 2010

Chesapeake Lodging Trust Acquires the 498-room Hyatt Regency Boston for $112 million, or Approximately $225,000 per Key; Hyatt Continues as Operator /March 2010
..
To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.