Inland American Inland American Lodging Group, Inc. (IALG) has acquired two Andaz hotels from Hyatt Hotels Corporation. At $115 million, the hotels are set in Napa, California and Savannah, Georgia and mark the second and third Andaz hotels in Inland American’s portfolio, following the purchase of Andaz San Diego completed earlier this year.
“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,” says Marcel Verbaas, president and CEO, IALG. “The purchase of these hotels further exemplifies our strategy of seeking continued improvement in the quality and performance of our portfolio.”
The five-story Andaz Napa features 141 rooms, including 89 lofts and suites. Constructed in 2009 and branded as an Andaz in 2012, the Napa hotel boasts 6,800 square feet of meeting and event space, highlighted by a 4,200-square-foot outdoor terrace.
Andaz Savannah, which was built in 2009 and branded as an Andaz in 2012, houses 151 rooms on six floors, including 68 lofts and suites, and features 6,700 square feet of meeting and banquet space.
“This transaction allows Hyatt to retain its brand and management presence in the Savannah and Napa markets and furthers our capital recycling strategy,” says Stephen Haggerty, global head, real estate and capital strategy for Hyatt. “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.”
