DALLAS--KBS Strategic Opportunity REIT, in a joint venture with Dallas-based Encore Hospitality LLC, has acquired the Q&C Hotel in New Orleans, LA for $51.2 million.
Built in 1913 and fully renovated in 2014, the Q&C Hotel will be branded under the Autograph Collection of Marriott International Inc.
The hotel features 196 guest rooms, 2,600 square feet of flexible meeting space, a restaurant and bar, valet and self-parking, and a 24-hour onsite fitness center. Its Q&C Bar is open for breakfast, lunch, dinner and happy-hour cocktails, and was recently named the "Best Kept Secret" in the Downtown NOLA Awards and among the "Top 10 Happy Hours" by St. Charles Avenue Magazine.
The 12-story, two-building hotel is located at 344 Camp St. in downtown New Orleans, three blocks from the French Quarter. Bourbon Street, the Superdome, the New Orleans Morial Convention Center, museums, and most of the city's class A office space are located within a 15-minute walk from the hotel.
"We believe KBS' partnerships with Encore Hospitality and Marriott will create a pleasant experience for hotel guests," says Jeff Rader, senior vice president at KBS. "Encore Hospitality's strong hotel management abilities combined with the booking and rewards features of the Marriott brand will make the Q&C Hotel an attractive option for those visiting New Orleans."
Julius Robinson, vice president and global lead, Autograph Collection Hotels, says: "We are delighted to welcome the Q&C Hotel into the Autograph Collection's portfolio of brands and look forward to welcoming both the independent hotel consumer as well as provide our own Marriott Rewards members access to this truly one-of-a-kind gem in the heart of New Orleans."
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