Located one block from the sixth largest Convention Center nationwide (over 1.6 million square feet), positions these Fee Simple assets to significantly benefit from the upcoming robust 2024-2025 Convention Calendar; with the Super Bowl being the anchor first Quarter 2025. These hotels are in the epicenter of all other major demand generators in New Orleans – The French Quarter, World War II Museum, Superdome, Smoothie Basketball Arena, and the Arts district, all being in easy walking distance from the Hotels. Since 2015, over 15,000 people have moved to this luxury submarket, which boast the highest rental rates and residential prices per square foot in the City.

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 2022 such as the No. 2 U.S. city to visit by Tourism + Leisure and the No. 2 Happiest Destination in North America by Club Med. 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 tourism growth, investment in New Orleans hotels represents a strategic opportunity for steady returns and long-term asset appreciation.

The New Orleans Central Business District is home to the iconic French Quarter, a thriving restaurant and nightlife scene with hotels, theaters, and museums. This submarket is transit-rich, with several streetcar lines running through the area, just few blocks from Hotels.

Cushman & Wakefield and HREC has been exclusively retained to offer for sale the fee-simple interest in the, 202-room Courtyard New Orleans Warehouse Arts District and the 208-suite SpringHill Suites (the “Hotels” or “Properties”). The Properties located in the heart of the Convention Center/Warehouse submarket within the New Orleans Central Business District. These highly sought-after Premium-branded Marriott Select Service properties are only being offered for sale to a select group of qualified Investors. The properties, currently encumbered by Marriott Management, are offered unencumbered by management which offers tremendous upside for both hotels. They are already two of the top performing lodging properties in this submarket.

Excellent location - One block from the Convention Center and within walking distance to all major demand generators – French Quarter, Superdome. World War II Museum, Casino, and the Arts district. The Convention center/Warehouse District Submarket is the highest income and safest area in the entire city. With residential rental rates from $3.50 - $4.00 per square foot, and residential sales per square foot from $500-$800, this location is the prime location within New Orleans to live and stay.

Unencumbered by Marriott management – Until recently, these Marriott hotels were managed by Marriott. As of this offering, the properties are now unencumbered by Marriott management which enable a new buyer to take advantage of more entrepreneurial management, economies of operational scale, and a more aggressive marketing strategy.

Leading Market with High Barriers to Entry - New Orleans is a one-of-a-kind tourist destination offering a distinct culture, heritage, nightlife, and cuisine, as well as approximately 50 events and festivals annually that provide a constant influx of visitors. The New Orleans Hotel Market has experienced a most compelling recovery over the last 5 to 7 years and has exceeded prior peak levels. Driven by strong leisure demand, average daily rate (ADR) growth has been a primary contributor to higher RevPAR in 2022, with twelve-month ADR up 9.0% from last year and a 12-month average of $210, surpassing 2019 levels. Due to the lack of developable land in the Central Business District, the site is located in an area with limited new development opportunities.