Tampa, Fla. (July 24, 2017) – The Plasencia Group is pleased to announce it represented an affiliate of Fillmore Capital Partners in the sale of the Maison Dupuy Hotel located in New Orleans’ French Quarter. The 200-room, independent hotel was acquired by the New Orleans Hotel Collection, a regional hospitality investment firm, owned and directed by Joe Jaeger. The New Orleans Hotel Collection offers a unique assortment of lodging establishments located throughout the New Orleans area with a primary focus on the French Quarter.
The Plasencia Group’s Senior Vice President Robert Wiemer and Vice Presidents Joe Corcoran and Paul Williams advised Fillmore in this disposition, marking the second time the hospitality investment advisory and consulting firm has successfully transacted this boutique hotel.
“This engagement was unique because French Quarter hotels are typically not transacted on the open market,” commented Robert Wiemer. “Most of the hotels in the French Quarter are now owned by private and public entities with a long-term, if not permanent, investment horizon.” Wiemer also noted that the investment community’s response to this acquisition opportunity, which included 33 tours, will be very encouraging to all owners of hotels in the New Orleans metropolitan area.
Joe Corcoran added, “An element that made this transaction particularly appealing to potential investors was the fact that the Maison Dupuy was the last hotel to be built in the French Quarter before a municipal ordinance passed in 1969 that eventually forbade the development of any additional hotel rooms in this famed neighborhood of New Orleans. We anticipate that new ownership will continue to benefit from the hotel’s ideal location and charm.”
The Plasencia Group has successfully completed 24 hotel and resort dispositions in Louisiana, and 43 non-branded, independent hotels nationally since 1999.