Inland American Lodging Group, Inc. has acquired the Andaz San Diego Hotel for a purchase price of $53 million. Managed by Hyatt, the Andaz San Diego boasts six stories and 159 rooms.
Located in the Gaslamp Quarter near the San Diego Convention Center, PETCO Park, and San Diego Bay, the hotel features 17 suites and 18,500 square feet of indoor and outdoor meeting space. Four restaurants, a heated pool, a health club, and several entertainment venuesincluding a rooftop loungeare among the amenities.
“We believe there is substantial operational upside as the Andaz brand matures and as a result of Hyatt’s efforts to grow and support the brand,” says Marcel Verbaas, president and CEO of Inland American Lodging Advisor, Inc. “We look forward to working with Hyatt to maximize profitability at the hotel and take full advantage of the projected RevPAR growth in the San Diego market.”
Developed as the Ivy Hotel in 2007, the property was branded as the Andaz San Diego in 2010. The hotel recently debuted a signature restaurant⎯⎯Katsuya by Starck San Diego⎯⎯which occupies 6,000 square feet of space on the lobby level.
