"Interstate has a very positive track record in managing both luxury properties and convention hotels," says Mike Barnello, chief operating officer of LaSalle Hotel Properties. "With more than 400 properties in their management portfolio, Interstate brings a number of unique operating advantages to the table, including economies of scale, proprietary state-of-the-art support systems, and the ability to cross-sell our property with other Interstate-managed hotels in the French Quarter, in the region and in our feeder markets."

"Full-service luxury hotels with significant convention facilities, like the New Orleans Grande Hotel, have unique operating requirements, particularly in the areas of service standards and delivery, areas where we have built a solid reputation," says John Emery, president and chief Interstate Hotels & Resortsoperating officer of Interstate. "Our national sales force also will play a significant role in helping to attract convention and meeting business to the hotel and the city. We look forward to further expanding our relationship with LaSalle Hotels in the future."

Located at 614 Canal St., the property borders the financial district and the French Quarter and features 19,000 sf of meeting space, including a 6,200-sf ballroom.