Oak Brook, Ill. – Inland American Real Estate Trust, Inc. (“Inland American” or the “Company”) today announced that it has entered into a definitive agreement to sell a portfolio consisting of 52 select service hotels with 6,976 rooms to a joint venture formed by affiliates of Northstar Realty Finance Corp. (“Northstar”) and Chatham Lodging Trust (“Chatham”) for approximately $1.1 billion.
Inland American Announces Intent to Spin off Its Lodging Subsidiary (web link).
OAK BROOK, Ill.–(BUSINESS WIRE)– Inland American Real Estate Trust, Inc. (“Inland American”) today announced a preliminary registration statement on Form 10 was filed with the Securities and Exchange Commission outlining the details of a potential plan to spin off a significant portion of Inland American’s lodging portfolio into a standalone, publicly traded company to be called Xenia Hotels & Resorts, Inc. (“Xenia,” pronounced “Zeen-yah”). Xenia intends to apply to list its shares of common stock on the New York Stock Exchange under the symbol “XHR.” Xenia Hotels & Resorts, Inc. was formerly known as Inland American Lodging Group, Inc.
Andrew J. Welch Joins Inland American Lodging Group, Inc. as Chief Financial Officer (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc. (IALG), a wholly owned subsidiary of Inland American Real Estate Trust, Inc. (Inland American), today announced a new addition to its executive team. Andrew J. Welch has joined the company as executive vice president and chief financial officer, responsible for leading financial operations and activities for IALG and establishing and executing IALG’s financial strategy.
Inland American Real Estate Trust, Inc. Makes a Splash in the Hawaiian Lodging Market with the Purchase of the Aston Waikiki Beach Hotel (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc. (“Inland American”), a wholly owned subsidiary of Inland American Real Estate Trust, Inc., today announced the purchase of the 645-room Aston Waikiki Beach Hotel in Honolulu, Hawaii, for a purchase price of approximately $183 million.
Inland American Real Estate Trust, Inc. Forms Two New Joint Ventures with Kessler Enterprises to Develop Two Hotels in South Carolina and Alabama (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc. (IALG), a wholly owned subsidiary of Inland American Real Estate Trust, Inc. (Inland American), announced today that it has formed two new joint ventures for a combined investment of $68.5 million with Kessler Enterprises. The joint ventures will focus on developing two luxury boutique hotels, totaling 150 rooms, in Charleston, S.C., and Mountain Brook, Ala., a suburb of Birmingham. Both hotels will be affiliated with Marriott’s Autograph Collection, a collection of high quality boutique hotels known for their rich character and unique details.
