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CLARION HOTEL NEW ORLEANS AIRPORT & CONFERENCE CENTER
KENNER, LOUISIANA


TEN-X AUCTION: JULY 29-31



 


TEN-X AUCTION INFORMATION: JULY 29-31

The Ten-X Auction for the Clarion Hotel New Orleans - Airport & Conference
Center is scheduled to begin on Monday, July 29 and will conclude on Wednesday,
July 31.
 
Please click the following button to be guided to the auction landing page:

Ten-X Auction Landing Page



 


OPPORTUNITY OVERVIEW

HREC Investment Advisors and The Plasencia Group are pleased to offer to
qualified investors the opportunity to acquire the 292-guestroom Clarion Hotel
New Orleans – Airport & Conference Center (formerly the Crowne Plaza New Orleans
Airport Hotel and hereinafter referred to as the “Hotel” or “Property”) in
Kenner, LA.  The Hotel contains 258 standard key rooms and 34 rooms that can be
converted into additional income-generating suites. 
 
The Clarion Hotel New Orleans – Airport & Conference Center (which formerly was
affiliated with IHG’s Crowne Plaza brand and was subsequently leased to Shell
Corporation during the pandemic) presents a classic value add opportunity based
on the acquisition of a new brand, the implementation of a transformative PIP,
and the installation of focused management.
 
The Hotel is a 5-minute drive to the new airport terminal entrance. The Asset is
among the closest clusters of hotels to the airport’s new entrance on Veterans
Highway. The former airport entrance was on the opposite side of new terminal.
This AAA airport location provides a new advantage for the Hotel to capture
increased airport demand. As to the hotel’s post-conversion upside potential,
note that during the three calendar years ending with 2019, the Hotel has
averaged just 76% RevPAR indexing relative to the comp set.  Given that the
Hotel’s brand contribution during those periods was in the single digits, most
of the low RevPAR indexing was from the occupancy side of that equation.
 
The Property has many competitive advantages in terms of location,
accessibility, unencumbered by management, fee-simple, great location, meeting
space, and parking.  As such, there is every expectation that a full renovation,
backed by a high performing brand, would successfully leverage off the existing
physical plan to put the hotel into a highly competitive position within the
market.
 
As to new supply, the submarket did not experience material additions to supply,
especially in the full-service market, over the past ten years. The Property is
being offered fee-simple, unencumbered by brand and management.



 


PROPERTY OVERVIEW

The Clarion Hotel New Orleans – Airport & Convention Center opened as a Holiday
Inn Hotel in 1972 and was converted to a Crowne Plaza. The Property features 292
rooms, a restaurant, a lobby lounge, 12,000 square feet of meeting space
(largest meeting space in the Metairie/airport market), an outdoor pool, a
fitness center, a business center, ample parking, and vending areas, with
excellent visibility along I-10 and the surrounding roadways, due to its
identifiable signage and its frontage along four highly-traveled roadways. 



 


INVESTMENT HIGHLIGHTS

 * New $1.3 Billion Airport Terminal Entrance in Front of Hotel: New Orleans
   International Airport's new terminal on the north side of the field has won
   numerous awards since its opening in 2019, giving the hotels on the north
   side a significant advantage.
 * High Value-Add Opportunity: A new Owner has the opportunity to reposition the
   property through a transformative renovation, along with a conversion to a
   highly productive brand.
 * Unencumbered by Brand and Management
 * Fee Simple

 


CONTACT INFORMATION

Len Wormser
Senior Vice President
HREC Investment Advisors
(850) 830-4595
lwormser@hrec.com
LA Broker License #: BROK.995680273-ACT

Paul Sexton
Managing Director
HREC Investment Advisors
(407) 963-4840
psexton@hrec.com 

Robert Wiemer
Senior Managing Director
The Plasencia Group
(281) 379-2613
rwiemer@tpghotels.com 

George Davis
Associate
HREC Investment Advisors
(205) 777-1180
gdavis@hrec.com 

Derek Rudd, Ten-X – Auction Advisor - (949) 208-9770
Auctioneer License: Ten-X, LLC Jessica Figueroa RE Brkr BROK.995692305-CORP
Irvine, CA; Auction Firm LA AB-446
 
Please DO NOT contact ownership of the Hotel to request additional information
or to arrange a site tour.

For more information on this investment opportunity, please execute the
confidentiality agreement, or contact an HREC IA representative. Information
will be provided subject to Seller and HREC discretionary approval. Execution of
the CA does not create any form or type of agreement or relationship.
 
Copyright © 2024 HREC IA, All rights reserved.

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