Summit Hotel Properties Inc. & GIC Acquires Hotel In New Orleans For $56M

Summit Hotel Properties Inc. and GIC have acquired a hotel property located at 1100 Tulane Ave in New Orleans. The transaction took place on March 29, 2022, with a sale price of $56,000,000. The hotel features 176 keys, and the price per key amounts to $318,181.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $56,000,000
• Address: 1100 Tulane Ave
• Market: New Orleans
• Buyer: Summit Hotel Properties Inc. & GIC
• Keys: 176
• Price Per Key: $318,181

Jonathan P. Stanner captured an image of the hotel property during the sale process.