Thirteen months after opening in the Lower Garden District, The Exchange Pickleball + Beer has far exceeded owner Renee Melchiode’s expectations: The spot is packed most weeknights, drawing tourists and locals alike, and sales are growing month after month.
Now, Melchiode is looking to take the business to the next level and has handed over management of the property to Jason Seidman, who has gained a national reputation as one of the country’s most prominent boutique hotel developers with local hotel and restaurant projects including The Columns, The Drifter and Hotel St. Vincent.
Seidman is not an investor in The Exchange, which Melchiorde co-owns with several partners, but his New Orleans-based hospitality company, Sandstone, currently runs both the pickleball and food and beverage operations at The Exchange. Seidman has begun upgrading the bar and restaurant menus in recent weeks.
“The Court is very popular and doing well, so we don’t want to disrupt what’s going on,” Seidman says, “but we do want to give customers the opportunity to stay a while and enjoy the space.”
Sandstone was founded by Seidman in 2007 as a real estate development company specializing in hotel projects, and in recent years has expanded into design and operations. In addition to 10 hotels in New Orleans, Texas and New York, Sandstone also owns Fives Bar & Restaurant in Jackson Square and the midcentury Ranch Motel in San Antonio, which he transformed into an urban leisure resort with rooms, a pool, pickleball courts and other amenities.
Melchiode said Sandstone is a perfect fit for the Exchange.
“I was talking to one of my clients about the growth obstacles we were experiencing and he introduced me to Jason,” Melchiode said. “We met and really hit it off. I feel comfortable entrusting my business to them.”
“Realize your potential”
Melchiode said the Exchange has seen steady growth in business since it opened in August 2023, with revenue increasing by at least 5% each month.
She attributes part of its success to the public’s love of pickleball, which has blossomed during the pandemic and shows no signs of slowing. She attributes part of the success simply to climate control: The seven pickleball courts are indoors and air-conditioned.
Additionally, the facility is close to hotels and short-term rentals in the Warehouse District and Central Business District, so more than half of Exchange’s customers are guests in those areas.
“Tourists plan their trips around us and bring their suitcases with them, whether they’re coming through the airport or heading out of town,” she says. “Sandstone is well-positioned to take advantage of these opportunities and realize our full potential.”
Leisure Concept
Seidman sees its involvement with The Exchange as a natural evolution for Sandstone’s foray into leisure and wellness concepts: As a former college tennis player, he believes in the health benefits of recreational sports and has begun incorporating them into its hotels.
“Racquet sports generally add 10 years to your life, so the idea is that racquet sports are a complement to a better life,” he said. “We’re trying to lean into that.”
Seidman’s newest property in San Antonio, The Ranch Motel, incorporates that approach to health and leisure into the resort concept, while The Exchange will feature a bar and restaurant at its core, serving fresher, healthier food and beverage options.
“We’re not just a bar, we’re about providing quality products, fresh juices, low and no alcohol,” he said, “and we want to educate people about healthier options.”
Plans for Sandstone also include an all-day coffee bar serving fresh juices and smoothies, as well as other upgrades and changes planned for the future, including a rebranding and interior renovation.
“We’re working on a repositioning, but we’re still finalizing the details,” he said. “There will be some kind of refresh, but we don’t want to disrupt what’s already working.”