Loews New Orleans Hotel Sold to Real Estate Investment Trust
Stone Pigman represented WNO Ownership LLC in the $74.5 million sale of the Loews New Orleans Hotel. Inland American Lodging Group, an Illinois-based real estate investment trust, purchased the 21-story, 285-room hotel located at 300 Poydras Street. The hotel includes 12 luxury guest suites, 17,000 square-feet of meeting space and houses the Swizzle Stick Bar and Café Adelaide on its first floor. Stone Pigman represented WNO with the original purchase of the property, the redevelopment of the property from an office building into a hotel, the restoration of the award-winning Piazza D'Italia adjacent to the hotel, and the sale of the hotel to Inland American Lodging Group. Michael Schneider led the firm's efforts in these transactions.