Daily Newsletter

30 October 2023

Daily Newsletter

30 October 2023

Ashford Hospitality Trust to convert Le Pavillon Hotel to Tribute Portfolio

This hotel will be transformed into a Tribute Portfolio hotel by the first quarter of next year.

Upasana Mukherjee October 27 2023

Ashford Hospitality Trust has entered a new franchise agreement with Marriott International to transform its Le Pavillon Hotel in New Orleans into a Tribute Portfolio property by the first quarter of next year.

Remington Hospitality will remain the property manager.

Ashford Trust president and CEO Rob Hays said: “With its prime location and proximity to major demand generators in downtown New Orleans, the transformation of this landmark hotel to a Tribute property is expected to elevate the hotel into a desirable niche in the very attractive New Orleans market.

“We remain focused on maximising the value of our assets and look forward to realising an enhanced financial performance from this property post-conversion.”

This historic hotel, with its rich history in NOLA culture, will be redesigned to cater to the present era.

Located on Poydras Street, the hotel’s renovation will include upgrading the restaurant, the 266 guestrooms, guest bathrooms, corridors and the hotel lobby bar.

The new Sazz Bar, inspired by the New Orleans cocktail called Sazerac, will have red and orange tones.

Constructed in 1907, the hotel is situated close to the French Quarter and stands four streets away from Bourbon Street.

Le Pavillon Hotel, also known as ‘Belle of New Orleans', is currently a member of Historic Hotels of America.

Ashford expects the new Tribute Portfolio property to help it achieve a 10% to 20% revenue per available room increase following the conversion.

Ashford Hospitality Trust is a real estate investment trust dedicated to investing in upper-upscale, full-service hotels.

Cryptocurrency - The world’s most polarizing technology theme

The globalization and digitization of travel and tourism are both driving the demand for easy-to-use and cheap international transaction processes and payment systems. Tourists are beginning to discover that cryptocurrencies offer such opportunities—by simplifying cross-border transactions and overcoming the associated foreign currency exchange costs. At present, cryptocurrencies are the most advanced application of public blockchains that promise benefits such as a universal means of payment and minimal fees through the removal of intermediaries.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close