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New Orleans, LA
In January 2008, a joint venture between Clearview Hotel Capital and a partner acquired the leasehold interest in the 494-room JW Marriott in New Orleans, Louisiana. The JW Marriott originally opened in June 1984 as a Le Meridien and was converted to the JW Marriott brand in April 2003, following a significant renovation. The 31-story property contains a Shula’s Steak House and 19,000 sf of indoor meeting and banquet space. The JW Marriott is one block from the French Quarter in the heart of the New Orleans Business District, roughly one mile from the Morial Convention Center. Clearview completed a $3.0 million rooms renovation and also refinanced the hotel's loan in 2010. Clearview sold the JW Marriott New Orleans in February 2011 for a substantial profit.