Inland American buys Napa and Savannah Andaz properties

George Sell By George Sell
24 September 2013 | Updated 24 September 2013

US: Inland American Lodging Group (IALG) has acquired the Andaz Napa and Andaz Savannah properties for a combined total of $115 million.

The purchase follows IALG's acquisition of the Andaz San Diego earlier this year.

Marcel Verbaas, president and CEO of Inland American Lodging Advisor, Inc, said: "As the owner of Andaz San Diego, Inland American truly understands the essence of the Andaz brand and we are delighted to broaden our relationship with a quality owner and look forward to future collaboration. We are very pleased to be expanding our relationship with Hyatt through the acquisition of these boutique lifestyle hotels, operating under the exciting and growing Andaz brand. The purchase of these hotels further exemplifies our strategy of seeking continued improvement in the quality and performance of our portfolio through targeted acquisitions, selective dispositions, superior asset management and thoughtful capital improvements."

The 141-room Andaz Napa and 151-room Andaz Savannah will continue to be managed by Hyatt. The properties were put up for sale by Hyatt in April.

Stephen Haggerty, global head, real estate and capital strategy for Hyatt, said: "This transaction allows Hyatt to retain its brand and management presence in the Savannah and Napa markets and furthers our capital recycling strategy. As the owner of Andaz San Diego, Inland American truly understands the essence of the Andaz brand and we are delighted to broaden our relationship with a quality owner and look forward to future collaboration."

FLorida-based Inland American Lodging currently oversees 93 hotels with 17,822 rooms branded under various Marriott, Hilton, Starwood, Hyatt, Fairmont, and IHG brands that are managed either by the brand managers or independent third-party management companies.

www.andaz.hyatt.com
www.inlandamericanlodging.com

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