A regional lender engaged The McEnery Company to provide both an AS IS and Prospective Market Value upon Completion and Stabilization of a proposed 184 room boutique hotel located within the former Rault Center at 1111 Gravier Street in Downtown New Orleans. The hotel is one of the higher profile lodging introductions into the marketplace, and is a welcomed introduction within a building that previously remained vacant for decades following a catastrophic fire. All of our hotel analyses incorporate a fully developed competitive supply and demand study concluding to a Revenue per Available Room (REVPAR) determination. On a project as unique and significant as The Troubadour, the determination of market supported NOI through achievable REVPAR is critical.
