Noble completes Metairie purchase

Officials of Noble Investment
Group have announced that it has acquired the
four-year-old, former Wyndham Metairie Hotel in the New Orleans airport
market.This summer, following a multi-million dollar upgrade, the hotel
will convert to the Sheraton brand.
  “Noble is pleased to make this investment in the greater New Orleans
market,” said Mit Shah, Noble’s president and chief executive officer. “The
area continues to be in a recovery phase following the devastation of
Hurricane Katrina, but Metairie and the airport area economy are coming
back on-line more quickly, and we believe the long term growth potential of
this area is strong.”
  “With the return of leisure and convention business, the Sheraton brand
and Noble’s implementation of our proprietary management and marketing
programs, we believe this hotel will quickly become a market leader,”
commented Rodney Williams, Noble’s chief investment officer.
  The conversion to the new hotel will include upgrades to meet
Sheraton’s brand standards. The hotel will receive an enhanced exterior
appearance, as well as the addition of a sundries alcove, business center
and Sheraton Club lounge.
  Located in the southeast quadrant of Causeway Blvd. and I-10 in
Metairie, the seven-story hotel is equal distance from downtown New Orleans
and the New Orleans International Airport. In addition to an adjoining
152-space garage, hotel amenities include 5,300 square feet of meeting
space, Hedges Bar and Grille, fitness center and outdoor swimming pool.
Other guest services will include the Sheraton Club Level with upgraded
room amenities and an exclusive Club Lounge. One- and two-bedroom suites
offer a warm fireplace and oversized soaking tub and/or wet bar.