New Castle Hotels & Resorts has acquired the Comfort Inn & Suites Downtown in New Orleans for $9 million.

The hotel owner, operator and developer said its latest property, located at 346 Baronne St., will undergo a $10 million renovation and rebranding that will debut in time for French Quarter Festival 2016.

New Castle sees the property as an opportunity to enter another Top 25 market while expanding the company’s footprint beyond its East Coast-heavy portfolio, said David Buffam, New Castle chief executive officer.