Sunstone Hotel Investors Inc Sells Hilton New Orleans St. Charles For $47 Million

The asset involved in this transaction is a hotel located at 333 Saint Charles Avenue, New Orleans, LA. The property, which is a 252-room Hilton New Orleans St. Charles, sold for a total of $47,000,000, with a price per key of $186,508.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $47,000,000
• Address: 333 Saint Charles Avenue
• Market: New Orleans, LA
• Seller: Bryan Giglia - Sunstone Hotel Investors Inc
• Keys: 252
• Price per Key: $186,508

In this sale, Bryan Giglia represented Sunstone Hotel Investors Inc, the seller of the property, which will use the proceeds from the sale for stock repurchases rather than reinvesting in hotel properties.