Encore Hospitality has purchased the Q&C Hotel and Bar, formerly known as the Queen & Crescent Hotel in the Central Business District of New Orleans.
The property was sold for $51.2 million by Northview Hotel Group of Connecticut, which purchased the hotel in 2013.
Encore Hospitality is a subsidiary of Encore Enterprises, a Dallas-based company founded by Bharat Sangani, who developed the Lakeview commercial area along Sangani Boulevard in D'Iberville.
"The Q&C Hotel/Bar is a historical landmark of New Orleans and we intend on extending its legacy as a cornerstone for business and leisure travelers, as well as serving as one of the city's premier wedding venues," said Sangani, chairman of Encore Enterprises.
"The acquisition of the Q&C Hotel/Bar has been a exceptional addition to our hotel portfolio," said Glenn Pedersen, president of Encore Hospitality. "We are currently on track to convert the development into a Marriott Autograph Collection Hotel within the next six months."
The hotel currently has 196 guest rooms, fitness center, valet and self parking plus 2,600 square feet of flexible meeting space. Built in 1913 and fully renovated in 2014, the Q&C Hotel will be branded under the Autograph Collection of Marriott International, a portfolio of iconic, independent properties.
The hotel's affiliation with the Autograph Collection Hotels will connect it with Marriott's worldwide reservation system and Marriott Rewards frequent traveler program and its 54 million members.
Encore Enterprises is a privately owned national real estate investment company that develops, acquires and manages hotels, multi-family housing, shopping centers, offices, and mixed use developments.