Inland American Lodging Grabs Andaz San Diego for $53M
By Alex Girda, Associate Editor
Inland American Lodging Group, Inc. has added the Andaz San Diego to its portfolio in a $53 million deal. Operated by Hyatt, the 159-key property is located in the Gaslamp Quarter near the San Diego Convention Center, PETCO Park and San Diego Bay.
Previously known as the Ivy Hotel, the property was rebranded Andaz San Diego in 2010. American Lodging Advisor Inc.’s president & CEO, Marcel Verbaas, commented: “This purchase aligns with our objective to acquire luxury, upper-upscale and urban upscale hotels in the top 25 lodging markets.” A 6,000-square-foot upscale Katsuya by Starck restaurant recently opened on the Andaz’ lower level.
Hyatt’s Andaz brand targets luxury boutique hotels in urban and resort locations. Each property draws its distinct design aesthetic from its surroundings.
Image courtesy of sandiego.andaz.hyatt.com
Tags: Acquisitions/Dispositions, Andaz San Diego, Architecture/Design, Commercial, Finance/Investment, Hospitality, hyatt, Inland American Lodging Group Inc., Investors, Local, Owners, Professional, San Diego Gaslamp Quarter, San Diego Lead Story