Siddiqui Enterprises sold the Comfort Inn New Orleans Airport, located in Saint Rose, La. in a deal brokered by Marcus & Millichap. The buyer, NOLA Airport Hospitality, purchased the 68-room property for an undisclosed sum. Other terms and conditions were not disclosed.
“The marketing process generated strong interest, resulting in six competitive offers,” David Altman, managing director investments at Marcus & Millichap, said in a statement. “While several local buyers pursued the opportunity, the eventual purchaser was a group of out-of-state investors from Indiana, underscoring the broader appeal of this asset and the depth of demand for well-located airport hotels.”
Altman and Jeff Halavacs, in association with Steve Greer, Marcus & Millichap’s broker of record in Louisiana, represented the seller and procured the buyer.
“The buyer identified a clear opportunity to create additional value through a renovation and a change in management,” Halavacs said. “With strong underlying demand from the airport and surrounding industrial corridor, the asset offers meaningful upside beyond its in-place performance.”
Built in 2010, the three-story Comfort Inn is located at 10151 W. Airline Highway, five miles from Louis Armstrong New Orleans International Airport. The hotel’s amenities include an airport shuttle, complimentary breakfast, fitness center, business center and meeting facilities. The property is located near James Business Park and Magnolia Movie Studios, with additional demand driven by nearby industrial and logistics employers.