Berkadia Hotels & Hospitality has been exclusively retained to offer for sale the fee simple interest in the 38-key Schaeffer Hotel French Quarter (the “Hotel,” “Asset,” “Property,” or “The Schaeffer”). Originally constructed in the early 1900’s, the Schaeffer blends historic charm with modern design across 35,775 square feet of space and is complemented by upscale amenities including a rooftop terrace, seasonal outdoor pool, lounge/workspace, curated public spaces, and a unique craft cocktail and coffee venue – Dovetail Bar. Having completed a transformational ‘gut’ renovation from 2019 – 2021, subsequently opening as a Sonder-affiliated property in 2022, the luxury boutique hotel is in pristine condition and will require minimal near-term capital. Positioned in the heart of New Orleans’ historic French Quarter, the Asset features a highly differentiated apartment-style product offering with two and three-bedroom configurations spanning 624 – 751 square feet, providing a new owner with the ability to significantly drive average daily rate (ADR).

The Hotel is being presented unencumbered by brand with no required liquidated damages, allowing a potential buyer to continue operating the Asset as a boutique independent hotel or affiliate with an industry-leading brand or soft-brand, along with their associated loyalty program. Moreover, the Property is being offered fee simple, non-union, and unencumbered of management, presenting a new owner with significant operational flexibility and the ability to maximize cash-flow. 

The Hotel has demonstrated the innate ability to consistently realize exceptional top-line performance despite limited on-site personnel operating under the self check-in model. With the implementation of a traditional hotel operating model and dedicated sales effort, a new owner is well-positioned to drive further revenue growth. 

 The Asset’s premier French Quarter location offers walkability (96 Walk Score) to Bourbon Street, Jackson Square, and the French Market, while benefiting from proximity to major demand generators including Caesars Superdome (73,000 seats), Smoothie King Center (17,000 seats), the Ernest N. Morial Convention Center (1.1 million square feet), University Medical Center New Orleans (446 beds), Harrah’s Casino, and downtown New Orleans’ robust corporate base that features major businesses such as Entergy Corporation, Ochsner Health, DXC Technology, Lucid, and more. Supported by a robust tourism sector with major annual events such as Mardi Gras (2.2 million annual visitors), in addition to a multi-billion-dollar development pipeline featuring university expansions, convention center enhancements, and large-scale mixed-use projects, The Schaeffer presents investors with a compelling investment opportunity in a nationally recognized top 25 U.S lodging market. 

Please contact Dan Hawkins, Kyle Stevenson, Jake Pietras, or Larissa Isenberg to learn more.