Marriott may soon be up for sale

The Baton Rouge Marriott on Hilton Avenue—the iconic high-rise visible from both directions on Interstate 10 near College Drive—may soon be on the market. Sources familiar with the situation tell Daily Report the company that owns the 297-room hotel, Columbia Sussex Corp., is in the process of tendering the property back to its lender, Bank of America, which became the mortgage holder when it acquired LaSalle Bank National Association several years ago. Though the nearly 40-year-old hotel, originally branded as a Hilton, is not in foreclosure, sources say Columbia Sussex—which is a franchisee for major national hotel brands with dozens of properties around the country—is unwilling to invest the millions needed to upgrade the aging structure. Sources also say the property could change hands within the next 90 days. An official with the Kentucky-based Columbia Sussex declined to comment on the situation. But at least one local developer has his eye on the hotel. Mike Wampold, who in October purchased 2.5 acres of undeveloped land across the street from the Marriott with plans for developing an upscale restaurant and maybe a small hotel, says he would be interested in the Marriott if the price is right. “On the raw land across the street I envision a nice restaurant and hotel,” he says. “And if you have a full-service hotel and a limited-service hotel near each other and they are cooperating, that would create some synergies.” —Stephanie Riegel