A California real estate trust has recently purchased New Orleans’ infamous Q&C hotel, making the trust the third buyer in just two years. However, the good news is that with each sale, the hotel seems to be able to command even more money. The $51 million purchase is up from the $12.5 million it sold for in 2013. The 12-story, two building hotel is located in NOLA’s central building district, and has recently undergone full renovations and was officially re-opened last year. Originally known as the Queen and Crescent Hotel, the 102-year-old building is hoping to catch a second wind with the help of its new owners. A press release issued by the new owners says, “We are thrilled to acquire the Q&C Hotel in the dynamic market of New Orleans. We believe New Orleans’ robust tourism industry coupled with the property’s recent renovations will make it a strong asset.”
The California real estate trust hopes to rebrand the hotel under the Marriott International’s Autograph Collection, an independent chain of luxury hotels, and attract a flood of new clients. The hotel boasts 196 guest rooms and more than 2,000 square-feet of meeting space, as well as its own bar. Plus, more than a century’s worth of history will certainly be appealing to many tourists coming to the city. As one of Marriott’s Autograph Collection properties, the Q&C Hotel will have access to the company’s worldwide reservation system. Turning this hotel into a popular destination for travelers may prove to be have positive effects for not just the investors, but for the area as a whole. As New Orleans continues to grow and rebuild a little more than 10 years since Hurricane Katrina devastated much of the city, this type of real estate news could prove to be just what The Big Easy needs.
images via NOLA.com