Investment Overview

Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale the Days Inn Gretna-New Orleans. The subject property is a 2-story, 309-room, exterior corridor hotel, with a lot size of 5.86 acres, located at 100 Westbank Expressway on one of the main thoroughfares in Suburban New Orleans. The hotels location is ideal due to its proximity to the epicenter of West Bank Metropolitan area, less than 5-minutes from the Central Business District, the famous French Quarter, Harrah’s Casino, the Ernest N. Morial Convention Century (6th largest in the country) and the Mercedes-Benz Superdome. New Orleans, the financial and cultural center of the Gulf South region, has rebounded dramatically to exceed pre-pandemic levels. New Orleans was the top 10 fastest growing large city in the country between 2021 and 2022. The hospitality segment is also experiencing growth with Twelve-month RevPAR in the New Orleans East/Slidell hotel submarket up sharply as of December, climbing at a 17.3% year-over-year rate. In the New Orleans market, RevPAR increased at an even stronger rate of 59.7% over the same timeframe. New ownership can create tremendous upside returns through a continued aggressive renovation and repositioning strategy since the property is currently non-operational. The Property features 4,900 square feet of meeting space, an expansive outdoor pool, and an entertainment verandah. The Hotel is in an excellent location minutes from all major demand generators, in addition to superb access and visibility; situated on Highway 90 (West Bank Expressway). This franchised property is being offered for sale in as-is condition, unencumbered by management. The sale presents a unique repositioning opportunity in a top 10 lodging market nationwide in which growth is expected.