La Quinta by Wyndham Gretna New Orleans, LA

UNDER CONTRACT

• Fee simple interest in the institutionally owned and recently brand-managed 154-room La Quinta Inn Gretna, New Orleans
• Strong operational upside in transitioning out of the larger national third-party operator
• Available unencumbered of debt and third-party management
• Minimal pre-negotiated liquidated damages in place for potential conversion to alternative Wyndham brands and other franchise brand options
• Strong in-place performance with trailing-12-month year-over-year average RevPAR gains of +31%
• Ideally situated along the Mississippi River just minutes from downtown New Orleans, French Quarter, Bourbon Street, Central Business District, Mercedes Benz Superdome, Smoothie King Center, and the New Orleans Convention Center situated adjacent to US-90, with more than 22,000 vehicles passing the location daily
• Proximate to all core local Gretna demand Acme Truck Line, Jean Lafitte National Historical Park & Preserve, Boomtown Casino and West Bank Ochsner Medical Center
• Readily accessible to the newly $1.3 billion renovated Louis Armstrong New Orleans International Airport (MSY), which is the 5th fastest-growing airport in the US
• Optimal time to be investing in the broader New Orleans market, which ranked as the 9th fastest-growing US city in 2022 with GDP growth of 2.4%
• In 2022, Louisiana’s post-pandemic states economy rebounded greatly due to the tourism industry attracting 42.6MM travelers (1.56MM increase over 2021) and generating $17.1BN in tourism spending ($381MM increase over 2021)