Ashford Hospitality Trust has entered a new franchise agreement with Marriott International to transform its Le Pavillon Hotel in New Orleans into a Tribute Portfolio property by the first quarter of next year.
Remington Hospitality will remain the property manager.
Ashford Trust president and CEO Rob Hays said: “With its prime location and proximity to major demand generators in downtown New Orleans, the transformation of this landmark hotel to a Tribute property is expected to elevate the hotel into a desirable niche in the very attractive New Orleans market.
“We remain focused on maximising the value of our assets and look forward to realising an enhanced financial performance from this property post-conversion.”
This historic hotel, with its rich history in NOLA culture, will be redesigned to cater to the present era.
Located on Poydras Street, the hotel’s renovation will include upgrading the restaurant, the 266 guestrooms, guest bathrooms, corridors and the hotel lobby bar.
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The new Sazz Bar, inspired by the New Orleans cocktail called Sazerac, will have red and orange tones.
Constructed in 1907, the hotel is situated close to the French Quarter and stands four streets away from Bourbon Street.
Le Pavillon Hotel, also known as ‘Belle of New Orleans’, is currently a member of Historic Hotels of America.
Ashford expects the new Tribute Portfolio property to help it achieve a 10% to 20% revenue per available room increase following the conversion.
Ashford Hospitality Trust is a real estate investment trust dedicated to investing in upper-upscale, full-service hotels.