Kimpton New Orleans

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Kimpton New Orleans

JMI acquired The Staybridge Suites New Orleans in a joint venture with Goldman Sachs in July of 2018. The hotel will undergo a comprehensive renovation (including guestrooms and public spaces at an estimated cost of over $17 million) in 2019, and will reopen as a Kimpton in Q1 2020.

Located in the central business district of downtown New Orleans, the Staybridge Suites is 2 blocks from the Convention Center and Harrah’s Casino and only a few blocks from the French Quarter, the Arts District, The Shops at Canal Place and the Audubon Aquarium and Insectarium.

New Orleans is one of the nation’s fastest-growing tourism destinations with approximately 10 million visitors in 2016. The lodging market hit a record high ADR in 2016 while occupancy continued to climb, resulting in a higher market RevPAR than all but 10 MSA’s in the country.

Debt Partner: Alliance Bernstein

Equity Partner: Goldman Sachs