B Hotels & Resorts, the lifestyle-hotel brand that’s steadily expanding across the U.S. southeast, will enter New Orleans next year by taking over what’s now Hotel 504.

The hotel, which is located in a historic Canal Street building in the city’s theater district, will undergo a “multi-million-dollar” renovation before re-opening in mid-2017. The hotel will remain open during renovations.

The 157-room property, which was acquired by InSite Group late last year, will feature a restaurant, bar and secluded courtyard.

B Hotels operates three Florida properties and one Georgia hotel.

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