Baton Rouge Marriott bought online for $21 million

An undisclosed buyer has acquired the Baton Rouge Marriott in Louisiana for $21.4 million—the transaction having taken place on an online auction. reports that local developer Mike Wampold bid $13 million for the property but was outdone by the mystery buyer.

According to Paul Williams of The Plasencia Group, which marketed the hotel, the sale will likely be finalized in the next day or so when the winning bidder signs the contract.

Williams added that numerous investors and developers from the area bid, including others from Florida and the Boston area.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

The minimum bid was set at $7 million.

The 21-story, 299-room hotel and surrounding property includes about 20,000 square feet of banquet and meeting space, along with a 6,050-square-foot ballroom. The hotel opened in 1976 as a Hilton.

The hotel had earlier been seized from Columbia Properties Baton Rouge Ltd., by CCMS when Columbia Properties owed at least $32.8 million on a $36.5 million promissory note that was signed in 2005. That along with interests and other fees came out to nearly $39 million owed to CCMS.


Suggested Articles

The two locally owned resorts join the Benchmark Resorts & Hotels brand as a result of the deal.

The combined company now will own and operate a portfolio of 40 hotels totaling more than 5,000 guestrooms.

The global crisis will provide significant merger and acquisition opportunities for hospitality companies willing to take the risk.