Wyndham International, Inc. (AMEX:WBR) announced the recent sale of the Bourbon Orleans - A Wyndham Historic Hotel, to St. Ann Lodging, LLC for approximately $14.3 million. Located in New Orleans, the Bourbon Orleans remains in the Wyndham-branded portfolio through a 20-year management agreement with the new owners and is currently undergoing a $12 million restoration slated for completion in early 2004. The sale to St. Ann Lodging, a partnership led by New Orleans businessmen Joseph Jaeger and Paul Flower, marks Wyndham`s third franchise agreement in Louisiana and is the third business agreement between Wyndham and Paul Flower.
“This sale continues our plan of selling non-strategic assets that de-leverage the company while keeping them in our brand portfolio through new management or franchise agreements,” said Fred J. Kleisner, chairman and chief executive officer for Wyndham. “Our partnership encompassing two other New Orleans hotels has been mutually beneficial, and we expect the same level of success for the Bourbon Orleans.”
Restoration highlights include refurbishment of all guestrooms and suites, restructured hallways with raised ceilings, expanded and revitalized meeting space, a new entrance and a re-designed lobby area. Many authentic decor embellishments will remain, including the original chandeliers, sconces and light fixtures, authentic Queen Anne and Chippendale furniture, hand-carved woodworking, antique ballroom draperies and carpets and a revitalized historic ballroom.
Located in the heart of the French Quarter, the Bourbon Orleans boasts a history rich in New Orleans style and culture. Envisioned as a grand new hall to outshine the two other theaters of New Orleans at the time, the Orleans Theater first opened in 1813, only to be destroyed by fire three years later. In 1817, under the management of John Davis, the rebuilt theater opened once more, along with a new wing called the Orleans Ballroom. Davis and the Orleans Theater introduced grand opera to New Orleans, and the site was the place for Creole New Orleans to see and be seen. Although the Orleans Theater burned in 1866, the attached ballroom survived and remains part of the structure today. Later the scene of quadroon balls, the ballroom eventually became a convent of the Sisters of the Holy Family and an orphanage for African-American children. In 1964, pressed by a need for expanded facilities, the Sisters sold the property to hotel interests.
Situated at the intersection of Bourbon and Orleans Streets, the 216-room Bourbon Orleans is just steps away from well-known New Orleans landmarks such as Jackson Square, Pat O`Brien`s, Saint Louis Cathedral and the French Market. More than 5,000 square feet of meeting space includes five flexible meeting rooms and can accommodate groups of up to 350 people.
In addition to the Bourbon Orleans, Wyndham`s New Orleans portfolio includes the 437-room Wyndham New Orleans at Canal Place; the 202-room Wyndham Riverfront; the 93-room Whitney - A Wyndham Historic Hotel and the 182-room Wyndham Metairie.
Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information, visit www.wyndham.com. For reservations, call 800-WYNDHAM.