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The Previous No. 77 Hotel & Chandlery on Tchoupitoulas Street, a 167-place boutique operation that also is property to Chef Nina Compton’s flagship Compère Lapin restaurant, has a new proprietor following Boston-based Benchmark Pyramid Motels acquired Provenance Accommodations.
Provenance, which is based mostly in Portland, experienced acquired the hotel formerly identified as The Ambassador in 2013 soon after it had gone into bankruptcy under previous proprietor Warren Reuther.
The Aged No. 77 Resort & Chandlery, beforehand acknowledged as The Ambassador Hotel in the Warehouse District, underwent a $14 million makeover after it was acquired by Provenance Hotels in 2013.
The hotel re-emerged in 2015 immediately after a $14 million makeover with a new identify that evoked the building’s aged address and its 19th century origins as a storehouse for various commodities. As very well as Compère Lapin, Compton, who was a “supporter most loved” and finalist in Top Chef New Orleans, also has a Tout La coffee and pastry store in the resort.
The new proprietor of Provenance Resorts is alone the products of a merger previous September amongst Benchmark Worldwide Hospitality and Pyramid Resort Team, as the consolidation in the lodging field carries on apace.
Consolidating boutiques
The acquisition of Provenance provides 12 hotels to the merged team, bringing its complete quantity of qualities in the U.S., Europe, and the Caribbean to 252. Benchmark Pyramid’s once-a-year income prior to the most recent get was about $3 billion.
Benchmark Pyramid is backed by Miami-primarily based genuine estate expense organization Gencom and personal fairness trader TZP Team, which is headquartered in New York Town.
Provenance adds to the team 9 accommodations in the Pacific Northwest: Lodge Max and Resort Theodore in Seattle, and the Murano in Tacoma, Washington. In Portland, it owns the Hotel Deluxe, the Woodlark, the Sentinel in the West Finish, Resort Lucia, Heathman Resort and the Dossier. It also has the Preston in Nashville and the Bradley in Fort Wayne, Indiana, as properly as the Old No. 77.
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