Quantcast

Illinois trust buys Loews New Orleans Hotel: $74M - KTBS.com - Shreveport, LA News, Weather and Sports

Illinois trust buys Loews New Orleans Hotel: $74M

Posted: Updated:

An Illinois-based investment trust has bought a New Orleans hotel for $74.5 million.

Inland American Lodging Group says Loews Hotel & Resorts will continue to manage the 285-room Loews New Orleans Hotel.

The 21-story hotel was sold by WNO Ownership LLC, led by business owners and developers Darryl Berger and Roger Ogden.

Inland American Lodging Group is a subsidiary of Inland American Real Estate Trust.

New Orleans CityBusiness reports that Orleans Parish Civil District Court records show WNO bought the former office tower for about $6.6 million in 2002 and spent $65 million to turn it into a hotel that opened in 2004. Part of that development included the $1 million restoration of the neighboring Piazza d'Italia.

 

Share Your Images
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KTBS. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
    Advertising | EEO Public File | KTBS 3 Public File | KPXJ 21 Public File