Monday October 28th, 2013 - 12:17PM
OAK BROOK, IL—Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., has acquired the 107-room luxury boutique Lorien Hotel & Spa in Alexandria, VA, for a purchase price of approximately $45 million.
Marcel Verbaas, president and CEO of Inland American Lodging Advisor, Inc., said in a statement, “With its superior positioning in this high barrier-to-entry market, this asset provides the opportunity to achieve premium RevPAR growth.”
The Lorien Hotel & Spa is located along King Street in historic Old Town Alexandria, near more than 100 restaurants and 2.2 million sq. ft. of retail space. Constructed in 2009, the hotel was designed by Vicente Wolf and offers 107 guestrooms, 6,500 sq. ft. of flexible meeting space, a full-service spa and fitness center, as well as three culinary venues created by DC chef, Robert Wiedmaier.
Kimpton Hotels & Restaurants will continue managing the property.
The Lorien Hotel & Spa represents the tenth hotel acquired by Inland American this year.