The DoubleTree Lafayette was a physically distressed hotel previously branded as the Hilton Lafayette that had been foreclosed upon by the owner of the debt. The asset represented a unique opportunity to purchase the premier full-service hotel. Wright Investments recognized this as a hedge to risk because it is the only property that could accommodate significant group market demand, having 22,000 square feet of meeting space. The Hilton received an extensive $10.5M renovation and rebranding to a DoubleTree Hotel, which was completed in early 2015. The market was challenged with the timing of the collapse of in the oil market during 2014-2016 and the resulting reduction in RevPAR, but still remained a successful investment for our partners.