Photo via louisianacommercialrealty.com
Waypoint Lodging and Hyatt Hotels announced last week that a Hyatt affiliate has entered into a management agreement with an affiliate of Waypoint NOLA, LLC for a Hyatt House hotel in New Orleans. The project, an adaptive re-use of an existing 24-story office building, includes the redevelopment and renovation of seven floors located within the building, with the lobby to be located on the 11th floor and the guestrooms on floors 12-17.
Additionally, a second-floor sky bridge will connect the building to Hyatt Regency New Orleans, which reopened in 2011 following a $275 million redesign and revitalization.
“It has been inspirational to witness Hyatt Regency New Orleans flourish into an integral component of the city’s hospitality and tourism industries,” said Christopher Robertson, owner and developer of Waypoint NOLA, LLC. “Encouraged by this outstanding success, I am pleased to introduce the Hyatt House brand to this thriving market. We envision multiple impacts for this property including supporting the expanding group sales efforts at Hyatt Regency New Orleans, providing New Orleans with diversity in room product, accommodating extended stay hotels for the city’s advancing medical district, and increasing accessibility to the vibrant sports and entertainment district.”
“We are delighted to be working with Chris Robertson on this project. This opportunity allows us to grow our relationship with a valued Hyatt owner, and to contribute to the ongoing economic success of New Orleans,” said Jason Gregorek, vice president, real estate and development for Hyatt. “This hotel will play an integral role in continuing to attract visitors to the city, and we look forward to introducing the Hyatt House brand to New Orleans.”
Robert Hand, owner of Louisiana Commercial Realty, a broker in the deal, told CSB that the renovation budget for the project is $120 million.
Expected to open in 2015, the 194-room, the hotel will be located at Poydras Street and Loyola Avenue, across from the Poydras Street Station streetcar line. Situated in the vibrant sports and entertainment district in downtown New Orleans, the hotel will be adjacent to the Mercedes-Benz Superdome, New Orleans Arena and the new Medical District; and just blocks from the French Quarter, Morial Convention Center and Mississippi Riverfront.
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