The Hotel Modern at Lee Circle sold last week to Iowa City-based Hawkeye Hotels. Hawkeye announced plans to reflag the 10-story hotel into an InterContinental hotel. The acquisition price was not disclosed.
“We’re community developers, and we have plans for a robust upgrade of this property that will fit into the existing culture and community of the area,” said Ravi Patel, Hawkeye Hotels, in a news release. “We hope our investment will not only transform the iconic property, but also make a statement that our company intends to be an active player in an already thriving and vibrant community.”
Hotel Modern was previously named Hotel Le Cirque, and before 2001 it was a YMCA property. The property sits across the street from the new Greater New Orleans Foundation building, currently under construction.
Hawkeye Hotels was founded in 1982 and has become one of the fastest-growing family-owned hospitality companies in the U.S. Today, according to its website. Hawkeye Hotels owns and operates over $400 million in assets across the Midwest and employs over 1,000 employees.
Green Coast Enterprises Gets Capital Investment Next Post:
Gardner To Build New Dialysis Clinic at Freret & Louisiana