Len Wormser with HREC Investment Advisors (“HREC IA”) is pleased to offer for sale the 29-guestroom Rathbone Mansions, located at 1244 Esplanade Avenue & 1227 Esplanade Avenue in New Orleans, Louisiana.

Rathbone Mansions, a historic hotel comprising two stately antebellum mansions, is located along Esplanade Avenue in the Treme District of New Orleans, alongside the French Quarter. As of August 2024, the property features 29 unique keys, including newly divided large suites, with no two rooms alike. Guests can enjoy a year-round pool and hot tub with a renovated deck and pergola, as well as four secured parking spots with automated car gates. Recent upgrades include new roofs for both buildings, renovated rooms with modern amenities, and enhanced security measures. The property offers a grab-and-go style breakfast, coffee and tea service, and in-room conveniences such as flat-screen TVs, mini-fridges, microwaves, and complimentary Wi-Fi. While operating similarly to a vacation rental with varying front desk hours, guests have full access to the lobby and all amenities at all times, providing a welcoming and home-like atmosphere in the heart of New Orleans.

Since 2017, significant improvements have been made with over $675K spent, including the renovation of 26 rooms, the introduction of in-house laundry facilities, and the transformation of the carriage house into three saleable rooms. The Property has adapted to recent conditions by offering a more streamlined breakfast selection and leveraging cash sales from day pool passes. With ongoing renovations and a stabilized staff, the Rathbone Mansions is well-positioned for continued growth and success in the New Orleans hospitality market.

New Orleans stands as one of the greatest cities in North America – an iconic melting pot of diverse culture, rich history, and world-renowned festivals. This unique allure has earned the city prestigious recognitions for 2024 such as One of the Best Cities in the World To Visit by Time Out and Best Food Destination in the U.S. (second year in a row) by TripAdvisor. Known for its acclaimed food scene, vibrant music, and historic French Quarter, the city attracts millions of tourists annually, ensuring consistent demand and steady revenues for the hospitality industry. With ongoing urban revitalization projects and robust convention growth, investment in New Orleans hotels represents a strategic opportunity for diverse investments across extended stay, corporate, leisure, convention, and resort segments.