BY TIMOTHY BOONE | THE NEW ORLEANS ADVOCATE | NOV 26, 2018
The Holiday Inn Slidell has been sold to an Atlanta-area buyer for nearly $5.9 million.
Huiana Lake Group of Norcross, Georgia, which lists Chenglun Huang as president, bought the 91-room hotel. The seller was St. Tammany Lodging LLC, a Gonzales-based group that lists Amrutbhai Patel as its officer.
The buyer plans to spend the next year making improvements to the 91-room hotel, according to Manish Sthanki of Marcus & Millichap’s Baton Rouge office. Sthanki, along with Chris Gomes in Marcus & Millichap’s Dallas office, and Allan Miller in Marcus & Millichap’s Austin, Texas, office, represented the buyer and the seller.
Sthanki said the seller was looking to diversify his real estate holdings while the buyer was looking for a hotel investment with a reputable brand like Holiday Inn. Plans are to spend the next year making improvements to the hotel, which opened in 2001.
