Inland American Lodging Buys Andaz
The 159-room Andaz San Diego hotel has a new owner: Inland American Lodging Group bought the Gaslamp Quarter boutiquefor $53M, or $333k/key. The hotel (600 F St) is managed by Hyatt under its luxury Andaz brand. The buy is in line with Inland's strategy to move into more urban, full-service properties--last year, it bought seven "upper-upscale" lodging assets, while disposing of 13 mid-scale ones. San Diego-based Kelly Capital opened the posh property in 2007, when it was known as the Ivy Hotel.
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