Good Group Ltd chief executive Russell Gray confirmed the Queenstown company had sold the lease of the premises, specifically the bar and restaurant and Fox's Bar downstairs, to Peter Whittaker.
Mr Gray would not say how much the lease sold for. Property developer Eamon Cleary still owned the 145-year-old building, he said.
"The group decided the New Orleans Hotel would be better serviced by having an owner-operator ... Peter Whittaker, who I'm sure will fit in well as a good new owner-operator."
Mr Gray said Mr Whittaker and his daughter, also an experienced hospitality operator, would move to Arrowtown from Christchurch, having lost the hospitality businesses he owned and operated in the September and February earthquakes.
The settlement date was July 11, and Good Group wished him well.
"We're pleased to have concluded [the transaction] quickly," Mr Gray said.
"We'll miss it in our portfolio because it's dear to a lot of us who live out that way, but we're confident that we've sold it to someone who will focus just on that business, whereas our focus is spread across a wide portfolio."
Good Group operates 27 bars, restaurants and liquor stores, mostly in the Southern Lakes.
