Canal Street Hotel Trades for $4.8 Million

by • August 3, 2015 • Acquisitions, Hotel & HospitalityComments (2)2898

Photo of 1630 Canal Street via Loopnet listing.

Photo of 1630 Canal Street via Loopnet listing.

Hotelier Michael Valentino has purchased the former Days Inn hotel at 1630 Canal Street for $4.8 million, reports nola.com.

The hotel has been shuttered since Katrina, and has been listed for over $7 million for years.

Valentino told nola.com his plans for the hotel include a full renovation and repositioning of the hotel under a national flag.  The hotel has over 216 keys and 108,000 square feet, but has often posed a challenge to developers because of its exterior corridor on the back side of the building.  The property also features 127 parking spaces.

Valentino owns a host of other nearby hotels, including the French Market Inn, Prince Conti Hotel, Hotel St. Marie, Place d’Armes Hotel, and the Lafayette Hotel.

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2 Responses to Canal Street Hotel Trades for $4.8 Million

  1. […] door, developers recently purchased the former hotel at 1630 Canal Street for $4.8 Million with plans to undertake  a renovation to upgrade to a new […]

  2. […] defunct Canal Street Hotel that developer Michael Valentino bought for $4.8 million is set to start construction, according to […]

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