NEW ORLEANS — A Massachusetts real estate investment trust that last year acquired the lease of the Royal Sonesta Hotel has purchased the building as well.
Hospitality Properties Trust in January 2012 closed its deal with Sonesta International Hotels Corp. for the Royal Sonesta New Orleans lease and a Cambridge, Mass., hotel for $150.5 million.
According to Orleans Parish conveyance records, Royal Sonesta Inc., the New Orleans leasing entity, completed the purchase of the Bourbon St. property on June 27 for $120.5 million.
The hotel, established in 1969, has 483 rooms and 35 suites.
Copyright © 2011, Capital City Press LLC • 7290 Bluebonnet Blvd., Baton Rouge, LA 70810 • All Rights Reserved