Tampa, Fla. (February 11, 2015) – The Plasencia Group is pleased to announce the sale of the DoubleTree by Hilton hotel in New Orleans, Louisiana. The firm represented Burrus Investment Group, the owner of the 17-story, 364-room hotel. An undisclosed buyer acquired the property. Hilton will continue to manage the hotel.
Robert Wiemer, The Plasencia Group’s Senior Vice President who led the disposition team, commented, “The buyer is acquiring the DoubleTree at a truly unique time for the city. It is as active a market as I’ve seen it in my thirty years here.” Lou Plasencia, CEO of The Plasencia Group, added, “I began my hotel career in New Orleans in the eighties. The city has matured dramatically since that time to the world-class convention destination it is today, with a very predictable group and leisure demand base.”
The DoubleTree’s location at 300 Canal Street is considered by many to be the most prominent and convenient point for visitors to New Orleans due to its proximity to popular attractions including the French Quarter, Harrah’s Casino and the Ernest Morial Convention Center.
This transaction marks the largest hotel sale in New Orleans in the past twelve months.