NEW ORLEANS
GB Lodging and Provenance Hotels have partnered to purchase the Ambassador Hotel in New Orleans.
Both companies have significant equity commitments to the project and will collaborate on a renovation of the hotel that will embrace the Ambassador's one-of-a-kind location in a former 19th century coffee warehouse. The renovation is slated to wrap in the fall of 2014, with a rebrand of the property also reportedly planned.
The historic 165-room Ambassador Hotel is located steps from the trendy Arts District, the central business district and Harrah's Casino as well as within easy walking distance of the French Quarter and the New Orleans Morial Convention Center. The purchase of the property for an undisclosed price is the first joint acquisition by GB Lodging and Provenance Hotels.
The property has about 1,500 square feet of meeting space, accommodating groups of up to 150.
