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.
Inland American Real Estate Trust, Inc. Expands Lodging Portfolio with Purchase of Hyatt Key West Resort and Spa (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc. (“Inland American”), a wholly owned subsidiary of Inland American Real Estate Trust, Inc., and Hyatt Hotels Corporation (NYSE: H), today announced that Inland American has purchased Hyatt Key West Resort and Spa in Key West, Fla., from a Hyatt affiliate for a purchase price of approximately $76 million. The resort, located in the heart of Key West on the Gulf of Mexico, will continue to be managed by Hyatt under a new management agreement.
Inland American Real Estate Trust, Inc. Purchases Collection of Hotel Monaco Properties (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 acquisition of three luxury boutique hotels from Kimpton’s Hotel Monaco collection for a purchase price of $189 million. The acquisition includes the Hotel Monaco Chicago, the Hotel Monaco Denver and the Hotel Monaco Salt Lake City, totaling 605 rooms. All three properties are part of Kimpton Hotels & Restaurants’ prominent boutique brand, Hotel Monaco, a collection of high quality, luxury boutique hotels that are converted from iconic, historic buildings and feature upscale bars and restaurants.
Inland American Real Estate Trust, Inc. Acquires the Lorien Hotel & Spa in Alexandria, Virginia (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., today announced that it has acquired the 107-room luxury boutique Lorien Hotel & Spa in Alexandria, Va., for a purchase price of approximately $45 million.
Inland American Real Estate Trust, Inc. Announces the Purchase of the Loews New Orleans Hotel (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., today announced that it has acquired the 23-story, 285-room Loews New Orleans for a purchase price of $74.5 million, or approximately $261,000 per key.
Inland American Real Estate Trust, Inc. Announces the Purchase of Hyatt Regency Santa Clara in California (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc. (“Inland American”) and Hyatt Hotels Corporation (NYSE: H), today announced the respective purchase and sale of the 14-story, 501-room Hyatt Regency Santa Clara in Santa Clara, Calif., for approximately $93 million or $185,000 per key. The total purchase price may increase to $100 million if certain performance thresholds are achieved at the hotel. A Hyatt affiliate will continue to manage the hotel under a new management agreement.
Inland American Real Estate Trust, Inc. Announces Acquisition of Two Andaz Hotels Located in California and Georgia (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc. (“IALG”), a wholly owned subsidiary of Inland American Real Estate Trust, Inc. (“Inland American”), and Hyatt Hotels Corporation (NYSE: H) today announced that IALG has acquired a portfolio of two Andaz hotels for approximately $115 million. The hotels, both part of Hyatt’s acclaimed boutique lifestyle brand, are located in Napa, Calif., and Savannah, Ga. These will be the second and third Andaz hotels in Inland American’s portfolio, following the purchase of Andaz San Diego completed earlier this year. A Hyatt affiliate will continue to manage both hotels.
Inland American Real Estate Trust, Inc. Announces the Purchase of Two Westin Hotels in Houston for $220 Million (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that it has acquired two Westin hotels located in Houston’s Galleria District, for approximately $220 million. The 24-story Westin Galleria includes 487 rooms and over 71,000 square feet of meeting space. The Westin Oaks Houston at the Galleria offers 406 rooms on 21 floors as well as 23,500 square feet of meeting space, including a 4,500-square-foot banquet space overlooking the Houston skyline.
Inland American Lodging Advisor, Inc. Announces the Addition of Industry Veteran Barry Bloom as its Executive Vice President of Asset Management and Chief Operating Officer (pdf link).
Oak Brook, Ill. – Inland American Lodging Advisor, Inc. (“IALA”), a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that Barry A.N. Bloom will be joining the company as its Executive Vice President of Asset Management and Chief Operating Officer. Mr. Bloom will assume his new position on July 1 and in the interim will provide consulting services to the company while he concludes his work in his current position as an Associate Professor of the Practice at Boston University.
Inland American Real Estate Trust, Inc. Announces the Purchase of the Residence Inn Denver City Center (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc. (“Inland American”), announced today that it has acquired the 14-story, 228-room Residence Inn by Marriott Denver City Center and adjoining 448-space parking garage for a purchase price of $80 million.
Inland American Real Estate Trust, Inc. Announces the Purchase of the Andaz San Diego Hotel (pdf link).
Oak Brook, Ill. – Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that it has acquired the six-story, 159-room Andaz San Diego, a boutique luxury hotel managed by Hyatt for a purchase price of $53 million, or approximately $333,000 per key.
