The recently opened Old No. 77 Hotel & Chandlery was just acquired by Provenance Hotel Partners Fund I, based in Portland, Oregon.
The seller was New York-based GB Lodging and Woodbine Development Corporation of Dallas. The purchase price was not disclosed.
“We are thrilled to have acquired an outstanding asset in a great long-term market,” said Gordon Sondland, chairman of PHPF I.
“The Old No. 77 Hotel & Chandlery and Compère Lapin (restaurant) have already become part of the fabric of the New Orleans community and we are looking forward to continuing to build on that success and invest in the relationships we have forged in the region,” said Bashar Wali, president of Provenance Hotels.