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W New Orleans sells for 25.5 million USD

Chesapeake Lodging Trust has purchased the W New Orleans - French Quarter from Starwood Hotels & Resorts Worldwide for 25.5 million USD.

Chesapeake Lodging Trust has entered into a long-term management agreement with Starwood hotels to operate the W New Orleans - French Quarter. This is CLT's third W hotel and fourth Starwood hotel under operation.The W New Orleans – French Quarter features 94 guestrooms with four studio suites. Recent renovations added a SWEAT fitness center, and SoBou contemporary Creole restaurant.According to President and Chief Executive Officer of the Trust, James L. Francis, “this is the perfect asset for Chesapeake to enter the rebounding New Orleans marketplace.”

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