The new ownership is in the midst of a $12-million restoration of property, which is located in the heart of the French Quarter at the intersection of Bourbon and Orleans Streets. The restoration, slated for completion in early 2004, includes refurbishment of all guestrooms and suites, restructured hallways with raised ceilings, expanded and revitalized meeting space, a new entrance and a re-designed lobby area.

The sale marks Wyndham's third franchise agreement in Louisiana and is the third business agreement with Flower. "This sale continues our plan of selling non-strategic assets that de-leverage the company while keeping them in our brand portfolio through new management or franchise agreements," said Wyndham Chairman/CEO Fred Kleisner. "Our partnership encompassing two other New Orleans hotels has been mutually beneficial."

Incorporated into the Bourbon Orleans is the Orleans Ballroom, which was constructed in 1817 and survived an 1866 fire of its connected structure, the Orleans Theater. The ballroom was used as a convent for the Sisters of the Holy Family and an orphanage for African-American children until 1964, when the sisters sold it to hotel interests in order to acquire expanded facilities elsewhere.