The owner of the Quality Suites Baton Rouge East near O'Neal Lane at Interstate 12 has acquired a Baton Rouge Motel 6 near the intersection of Interstate 10 and Siegen Lane in a $2.9 million deal.
The sale takes place during a tumultuous time for the hotel and motel industry, hit hard by reduced travel caused by the coronavirus pandemic.
East Baton Rouge Parish property transfer records show Rishi Patel, through Maha Laxmi LLC, bought the Motel 6 from Shardulsinh Sayania of Tigers Hospitality, who is an officer and manager of the Studio 6 motel in Port Allen through Mani Enterprises. Sayania is also affiliated with Days Inn by Wyndham Rayne, records show.
It was not immediately clear what Patel's plans are for the Motel 6. He could not be reached for comment.
The immediate area of Rieger Road and Siegen Lane where the Motel 6 sits is undergoing some significant changes. There are several motels in the area and one vacant former commercial building. Construction road work along Rieger Road began a few weeks ago as Amazon.com prepares to open its South Baton Rouge Distribution Center, located east of the iconic Bethany Church crosses that sit near Interstate 10.
Meanwhile, hotel occupancy in Baton Rouge in late September surpassed the same time last year, though likely lifted by people driven from southwest Louisiana damage caused at the end of August by Hurricane Laura.
Across the Baton Rouge metro area, 60% of hotel rooms were booked between Sept. 20 and Sept. 26, up from 54% a year ago. Likewise, hotel and motel revenue collected was $3.1 million, up from $3 million in late September 2019, according to data compiled and analyzed by Baton Rouge Area Chamber that includes information from the American Hotel & Lodging Association and data broker STR.
As of late September, hotel occupancy rates in the Baton Rouge metro were above 2019 data for the fifth week in a row, according to the chamber analysis.
However, the American Hotel & Lodging Association has cautioned that nationwide surveys show that 67% of hoteliers that responded don't expect to last another six months without a significant economic rebound and if federal aid isn't provided.
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An extended-stay hotel on Corporate Boulevard has been sold for $3.2 million to local investors who plan to convert the property into apartments.