Rooms: 181 Interior Corridor Year Built: 2002 Lot Size: 1.08 acres 7 Stories Hotel is located right off Interstate I-10 7 miles from Downtown New Orleans Close to All Demand Generators Bank Financing Available Key Highlights: Seller has already Invested Over $6.5 Million in CapEx improvements to date. An Additional $2.5 Million is Planned for Future Capital Expenditures to complete the Lobby, Public Areas, and Banquet Spaces. Development Plans are Available Upon Request. Property will be Delivered Turnkey with No PIP Requirements from Sheraton by Marriott. Projected 2025 Revenue is Expected to Exceed $7 Million. Sheraton Metairie - New Orleans Hotel is ideally situated at Four Galleria Boulevard in Metairie, Louisiana, just off Interstate I-10, offering convenient access to both Louis Armstrong New Orleans International Airport and the heart of Downtown New Orleans. The hotel is approximately 7 miles from Downtown New Orleans and 11 miles from Louis Armstrong New Orleans International Airport. This central location places it near a range of local attractions and landmarks, including the upscale Lakeside Shopping Center, located just 2 miles away. The iconic French Quarter and the vibrant sights of Canal Street are within a 7-mile radius, while the Historic Garden District lies approximately 7 miles away. Nature and art lovers will appreciate the proximity to the New Orleans Botanical Garden (5 miles) and Longue Vue House and Gardens (3 miles), while Lake Pontchartrain’s scenic shores are also nearby. The hotel is 6.2 miles from the Caesars Superdome and the Audubon Nature Institute, and approximately 7 miles from Union Station and the New Orleans Fairgrounds. With its prime location between the airport and downtown, and close to major destinations like Ochsner Medical Center and City Park, this property offers easy access to the best of Metairie and New Orleans. Sheraton by Marriott (Property, Hotel, Asset) located at the apex of Interstate -10 and Causeway/Galleria Boulevard, arguably one of the best locations for a hotel in New Orleans, Louisiana. This compact full-service Sheraton is one of only two Sheratons in the entire metropolitan market of New Orleans (50,000 rooms) - the other 1,000 room Sheraton is in the central business district. Because of its AAA location, the Sheraton by Marriott is only a 10-minute drive to the French Quarter, the 1.3 million square foot convention center, and the newly renovated $3 billion Louis Armstrong International Airport. This seven story Sheraton by Marriott Hotel (opened in 2002), contains 5,700 square feet of ballroom/meeting space, Hedges bar and Grill, a 100 seat restaurant /bar, fitness center, outdoor pool and all the amenities attributable to a full service Marriott Hotel. Parking is self-contained on site and connected to the Hotel - consisting of 151 spaces, all within a multi-story parking garage. With shuttle service to the Airport, French Quarter, and Convention Center, the Sheraton is positioned to successfully compete for corporate business, as well as group and leisure. The Property is located across the street from the 400,000 square foot Galleria mixed use office complex, which boasts the highest office rental rates in the entire metropolitan area – approx. $22-$24 psf. Since New Orleans is primarily a leisure (and drive to) market, it is believed that this demand segment will return to pre-COVID levels (within the metro area) prior to both group and corporate travel. In sum, consensus is that leisure business will return to 60-75% of 2019 metrics in 2021-2022, with corporate and group rebounding in 2023 and 2024, respectively. With the largest and most profitable retail center in Louisiana within a two-minute drive (Lakeside Mall) and over three million square feet of Class A and B office space also minutes away (Metairie Office Market), the acquisition of the Sheraton by Marriott bodes well for new investors looking for access into this high barrier to entry market, and/or for those who already have assets in place in New Orleans. Investment Highlights: Highly Visible and Easily Accessible Significant Discount to Replacement Cost Marriott Brand Affiliation High Barriers to Entry Market Offered Unencumbered by Management Fee Simple Top Lodging Market – New Orleans Diversified Year-Round Demand Major Investment to the City of New Orleans Location Highlights: 1. Proximity to New Orleans: The hotel is about 7 miles from the French Quarter, providing easy access to the heart of the city. 2. Local Attractions: Lakeside Shopping Center: Approximately 1 mile away, perfect for shopping and dining. City Park: About 4 miles from the hotel, and the New Orleans Museum of Art. Aquarium of the Americas: Roughly 8 miles away, located in downtown New Orleans, ideal for family outings. 3. Convenient Transportation: The hotel is situated near major highways, with Louis Armstrong New Orleans International Airport just around 11 miles away. 4. Dining Options: Various restaurants and eateries are within a short distance, typically within 1 to 5 miles. 5. Outdoor Activities: Notable spots like Lake Pontchartrain are approximately 5 miles away. 6. Business and Conference Facilities: The hotel features its own meeting and event spaces, suitable for hosting events in the area.