Also in close proximity to the Ernest N. Morial Convention Center is the 208-key SpringHill Suites b

Publicly florida s best hotel deals traded REIT Summit Hotel Properties Inc. has entered into a definitive purchase agreement for a five-hotel portfolio in Louisiana. The properties, all located in the Greater florida s best hotel deals New Orleans area, are expected to be purchased for approximately $135 million. Summit expects to invest around $5 million to upgrade the 823-room portfolio. Renovations of its future florida s best hotel deals assets are expected to be complete in 12 months.
“This portfolio of hotels is uniquely positioned florida s best hotel deals to allow us access to the many diverse markets and submarkets in the area,” said company president CEO Dan Hansen. Summit estimates a post-upgrade next 12 months EBITDA for the entire portfolio of anywhere between 10.5x and 11.5x.
Among the properties to be purchased is the 140-key Courtyard by Marriott in Downtown New Orleans, near the French Quarter. The 124 St. Charles Ave. hotel features 140 rooms on six floors, a new lobby, one meeting room and a total meeting space of 627 square feet. High-speed wireless Internet is available throughout the property. Additional amenities include a fitness center florida s best hotel deals and whirlpool. Dining options include an onsite Starbucks coffee house and The Bistro restaurant, serving florida s best hotel deals an American menu. The hotel is in close proximity to financial and corporate offices such as GE, Whitney Hancock, Xavier University, florida s best hotel deals LSU Medical, AT T, Verizon as well as the U.S. departments of Justice and Homeland Security.
Another Courtyard by Marriott is also included in the portfolio: the Courtyard New Orleans/Downtown Convention Center, at 300 Julia St., in close proximity to the newly renovated Ernest N. Morial Convention Center. The 202-key, five-story hotel features 192 rooms and 10 suites, as well as five meeting rooms totaling 3,873 square feet. Amenities florida s best hotel deals include a fitness center, outdoor pool and whirlpool. The Bistro brand has a location in that hotel property, as well.
Also in close proximity to the Ernest N. Morial Convention Center is the 208-key SpringHill Suites by Marriott, located at 301 St. Joseph St. The 208-key, four-story florida s best hotel deals property features amenities such as a fitness center, outdoor pool and whirlpool; five meeting rooms comprising 3,700 square feet of space; high-speed wireless Internet florida s best hotel deals throughout; and a sundry/convenience store.
Summit’s purchase also includes two hotels florida s best hotel deals in Metairie,  one of the largest communities florida s best hotel deals in the Greater New Orleans metropolitan area. The two assets to be acquired are the 153-room Courtyard by Marriott at 2 Galleria Blvd. and the 120-room Residence Inn by Marriott at 3 Galleria Blvd. The latter comprises 120 rooms on three floors. One meeting room and a total meeting space of 672 square feet are available on the property, as well as an outdoor pool, a whirlpool, a fitness center and a barbecue/picnic area. The neighboring Courtyard features 148 rooms, five suites, four meeting rooms and a total meeting space of 1,957 square feet. High-speed Wi-Fi is available throughout the hotel. Other amenities include a whirlpool, an outdoor pool, a fitness center and a convenience store. A Bistro restaurant can be found on site.
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