NEW ORLEANS – Commercial real estate firm Cushman & Wakefield said it has brokered the sale of two hotel assets in the Warehouse District: the 202-room Courtyard by Marriott at 300 Julia Street, and the 208-room SpringHill Suites by Marriott at 301 St. Joseph Street.
The assets were acquired in one transaction by a group led by Louisiana businessman Robert J. Guidry along with Guidry Land Partners and Orlando businessman David Bansmer. The purchase price was $73 million.
“Clearly, I am very bullish on New Orleans as with this purchase we now own three hotels with 642 rooms in this city and there is no doubt in my mind we will add to the portfolio over time,” Guidry said in a press release. “I believe this city simply has more to offer visitors than any other in our country.”
Bill Murney, Alyson Murney and Craig Hey at Cushman & Wakefield represented the seller in the transaction.
“These two highly sought-after, premium branded hotel assets are well maintained and conveniently located just around the corner from one another on the same city block, each boasting prominent visibility,” said Murney.
Cushman & Wakefield is a global firm with approximately 52,000 employees in nearly 400 offices across 60 countries. In 2023, it reported revenue of $9.5 billion.
