The Hitlon-owned Waldorf-Astoria Collection has announced plans to redevelop an iconic New Orleans hotel in partnership with owner First Class Hotels.

The former Fairmont New Orleans, known as The Roosevelt, has been closed since Hurricane Katrina hit in 2005.

It first opened in 1893 as the Grunewald, with an addition being completed in 1927.

In 1923 the hotel was renamed The Roosevelt in honour of President Theodore Roosevelt, but the name was changed when it was bought by Fairmont in 1965.

The project is expected to cost more than US$100m, Waldorf-Astoria says.

Completion and opening is scheduled for late spring of 2009.

By staff writer