AC Hotel New Orleans in the Central Business District has been sold to an affiliate of a California-based hotel management and investment firm.

The price was not disclosed.

The Marriott-brand hotel was sold to Pacific Hospitality Group, which owns and manages nine hotels and resorts. AC Hotel is its first property in Louisiana.

The European-inspired boutique hotel opened at the historic Cotton Exchange building at 221 Carondolet St. in late 2014. The eight-story, neoclassical building was constructed in 1921. It has 220 rooms.

Cotton Exchange Investment Properties LLC, an affiliate of Pacific Hospitality Group, closed on the deal this month, the firm said Wednesday. Texas-based hotel development firm NewcrestImage sold the property.