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Sonesta Essential Hotels Baton Rouge Airport – Image Credit Sonesta
HVS Brokerage & Advisory has finalized the sale of the 77-key Sonesta Essential Hotels Baton Rouge Airport to Brothers Hospitality LLC.
HVS Brokerage & Advisory announced the sale of the Sonesta Essential Hotels Baton Rouge Airport, a 77-room property located at 2949 Varsity Street, Baton Rouge, Louisiana. The hotel was purchased by Brothers Hospitality LLC, headquartered in Sugar Land, Texas, from the previous owner, Hyde LLC, based in Baton Rouge.
Constructed in 2000, the hotel is located near the Baton Rouge Metropolitan Airport, making it a strategic location for transient travelers. The proximity to the ExxonMobil Baton Rouge Refinery provides a steady demand for extended-stay business. Other nearby demand drivers include Louisiana State University, Southern University and A&M College, as well as several local museums and hospitals. Additionally, the Raising Cane’s River Center, which hosts various events throughout the year, contributes to weekend and group demand.
The transaction was managed by HVS Brokerage & Advisory, with team members Matthew Omansky, Eric Guerrero, Andrew Frosch, James Rebullida, Matt Almy, and Daneen Godinet involved in the process. The sale was completed, with Brothers Hospitality LLC providing over 20% non-refundable earnest money on the first day of the purchase and sale agreement. The transaction was closed in under three weeks.
The sale reflects current market conditions where distressed sales have become more common, and the brokerage aimed to ensure a smooth transaction process for the seller.
