OAK BROOK, Ill.—Inland American Lodging Group, a wholly owned subsidiary of Inland American Real Estate Trust, announced that it has acquired the 107-room Lorien Hotel and Spa in Alexandria, Va., for a purchase price of approximately $45 million.
“This boutique luxury hotel is an excellent addition to our portfolio,” said Marcel Verbaas, president and CEO of Inland American Lodging Advisor (IALA). “With its superior positioning in this high barrier-to-entry market, this asset provides the opportunity to achieve premium RevPAR growth.”
The Lorien Hotel and Spa is located in historic Old Town Alexandria, near more than 100 restaurants and 2.2 million square feet of retail space. Constructed in 2009, the hotel was designed by acclaimed designer Vicente Wolf and offers 107 guestrooms, 6,500 square feet of flexible meeting space, a full-service spa and fitness center, and three unique culinary venues created by local D.C. award-winning chef, Robert Wiedmaier.
“We are excited about this opportunity to start a relationship with Kimpton Hotels and Restaurants, who will continue managing this asset,” added Philip A. Wade, IALA’s senior vice president of investments. “We are thrilled that we were able to acquire another high quality and desirable luxury asset this year in a major market like Washington, D.C.”
The hotel represents the tenth hotel acquired by Inland American this year.