Old No. 77 Hotel & Chandlery changes hands | New Orleans CityBusiness
Provenance Hotel Partners Fund I, based in Portland, Oregon, said Friday it has acquired the Old No. 77 Hotel & Chandlery at 535 Tchoupitoulas St. on the edge of the Warehouse District.
The seller was a partnership primarily comprised of affiliates of New York-based GB Lodging and Woodbine Development Corporation, a Dallas-based real estate company. The purchase price was not disclosed.
Provenance Hotels, GB Lodging and Woodbine opened the 167-room Old No. 77 Hotel & Chandlery in August. The hotel is also home to Compère Lapin, a restaurant that serves Caribbean and European-accented takes on New Orleans flavors.
The building was once the Ambassador Hotel which sold in August 2013 for $15.85 million, according to Orleans Parish land records. The hotel underwent an extensive renovation costing more than $7 million that began in July 2014.
Renovations included a newly designed lobby, restaurant and bar, upgraded plumbing, electrical and mechanical systems, and a new layout and renovation of all guest rooms.