NEW ORLEANS—Laurus Corporation, a U.S.-based private real estate investment and development firm, announced that it has completed the $2.7 million renovation of the Ramada Suites Hotel at New Orleans Airport and branded the facility as a Holiday Inn Express. The renovation included a complete overhaul of the guestrooms, public areas, exterior facade and landscaping. Additionally, a new management agreement was signed with a local management company to improve overall guest satisfaction and performance.
Laurus Corporation acquired the 130-room lodging establishment in March 2012. Situated at the entrance of James Business Park, a 200-acre business park offering more than two million square feet of commercial space, the hotel is immediately adjacent to the Louis Armstrong New Orleans International Airport, which serves approximately 9.7 million passengers per year.
“The extensive renovation program will enhance the hotel’s brand in a well-performing marketplace as well as increase the asset’s performing value,” said Austin Khan, chief investment officer of Laurus Corporation.
Exterior renovations include a new pool deck, courtyard deck and fountain, landscaping surrounding the property, and a new paint job. The lobby, breakfast area, and conference rooms feature new flooring, light fixtures, window treatments, furniture, and televisions. Guestrooms will showcase new flooring, furniture, lighting and window treatments, and upgraded fixtures in the guest bathrooms.
The hotel features 3,000 square feet of meeting space, two on-site restaurants, a 189-car parking lot, and fitness and business centers.