Inland Pays $74.5M for Downtown Hotel

Source:  CPE

The New Orleans lodging market stays hot even if temperatures are cooling down in the Big Easy. Following the recent purchase of the Queen and Crescent Hotel (details here), another former office asset turned hotel has been acquired. The 285-key Loews New Orleans, located right outside the French Quarter as the Queen and Crescent, has been acquired for $74.5 million by Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc. That roughly ...

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