NEW ORLEANS, La. — Stonebridge Companies has bought the 410-room Le Meridien New Orleans hotel for $84 million, the group’s third acquisition in the New Orleans market. Le Meridien has more than 13,000 square feet of event space and is near the French Quarter, Bourbon Street and Warehouse Arts District.
Also nearby are the New Orleans Ernest N. Morial Convention Center, Mercedes-Benz Superdome, Smoothie King Center and the Port of New Orleans Cruise Ship Terminal. Amenities include a rooftop pool, onsite restaurants and a business center.
Stonebridge Companies, a Denver-based, privately owned hotel owner, operator and developer, bought the hotel in partnership with an affiliate of Walton Street Capital LLC. The building at 333 Poydras St. debuted in 1984 as a Holiday Inn Crowne Plaza and has gone through several owners and name changes since. From 2000 to 2014, it was the W New Orleans Hotel.
Stonebridge’s portfolio now stands at 63 hotels and more than 10,000 guest rooms.