Originally appeared in Biz New Orleans in January, 2020
Stonebridge Companies, a Denver-based, privately owned hotel owner, operator and developer, in partnership with an affiliate of Walton Street Capital LLC, has acquired the 410-room Le Meridien New Orleans hotel. The acquisition is the group’s third in the New Orleans market and second in just over 12 months, having purchased the Embassy Suites by Hilton New Orleans in late 2018.
The building at 333 Poydras Street debuted in 1984 as a Holiday Inn Crowne Plaza and has gone through several owners and name changes since. From 2000 to 2014, it was the W New Orleans Hotel.
Le Meridien is near Harrah’s New Orleans Casino, the French Quarter, Bourbon Street and the Warehouse District. It’s a full-service upscale hotel offers modern guest rooms and suites with sophisticated amenities, including boutique furnishings and destination-inspired artwork, and boasts a 24-hour fitness center, rooftop pool, onsite restaurants with all-day dining, a business center and more than 13,000 square feet of event space.
“The acquisition of our first Le Meridien brand hotel and an additional property in New Orleans is a fantastic complement to our growing portfolio of more than 60 hotels and reinforces our position as an industry leader in hotel development, ownership and management,” said Navin C. Dimond, founder, president and CEO of Stonebridge Companies. “New Orleans is truly a great American city, and Le Meridien is ideally located for both leisure and business travelers alike visiting downtown New Orleans.”
Stonebridge Companies’ portfolio of 63 hotels and more than 10,000 guest rooms includes select-service, extended-stay, mid-scale and full-service hotels stretching from Boston to Anchorage, Alaska to Southern California.