$2.7M Repositioning Earns Hotel National Renovation Award

by CSB Staff • December 10, 2013 • Awards & Recognition, Hotel & Hospitality, Renovation • Comments (0) • 5033

Laurus Corporation’s Holiday Inn Express New Orleans received the InterContinental Hotels Group (IHG) 2013 Renovation Award for its successful completion of major modernization and renovation programs during the past year.

In March 2012, private real estate investment and development firm Laurus Corporation acquired the 130-room lodging establishment, implemented a $2.7 million renovation program and rebranded the facility as a Holiday Inn Express. The renovations included a complete overhaul of the guestrooms, public areas, exterior facade and landscaping. Additionally, a new management agreement was executed with Expotel Hospitality, a New Orleans-based management company to improve overall guest satisfaction and performance.

“We are thrilled to accept such a prestigious award for our renovations of the Holiday Inn Express,” said Andres Szita, Co-founder and Chairman of Laurus Corporation. “The complete rejuvenation of the property enhanced the overall guest experience, bolstered the hotel’s brand as well as increased the asset’s performing value.”

Laurus Corporation is a real estate investment and development company that specializes in hotels and resorts, office buildings, multifamily and mixed-use properties. Laurus employs an entrepreneurial investment strategy designed to consistently achieve attractive risk-adjusted returns by creating capital appreciation opportunities through repositioning, restructuring, re-development and intensive post-acquisition asset management. It is affiliated with Ethika Investments, LLC, a real estate investment firm.

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