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NEW ORLEANS-A Southern California and a private investment company incorporated in Panama have closed on the $67.5-million acquisition of the 494-room JW Marriott Hotel New Orleans from Dallas-based Ashford Hospitality Trust Inc. Clearview Hotel Capital LLC and Star International Co. Inc. will continue operating the CBD hotel under the Marriott brand and management.

The 31-story hotel at 614 Canal St. contains 19,000 sf of meeting and banquet space, fitness center and rooftop outdoor swimming pool, a business center and a parking garage. The site also boasts a Shula’s Steak House. No information was available about hotel renovations and upgrades.

In a press release, Jon D. Kline, founder and president of Newport Beach, CA-based Clearwater Hotel Capital, says the acquisition was a statement of faith about New Orleans’ recovery. “The confluence of the initiatives being driven by the city, the CVB and Marriott has sparked the beginning of a recovery that we expect to gather strength over the next few years,” he says.

The 24-year-old hotel opened as a Le Meridien and was converted to the JW Marriott brand in 2003 following a significant renovation. Ashford bought the hotel in April as part of a 59-asset, $2.4-billion transaction.

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