Lorien Hotel & Spa Alexandria in Virginia Sold to Inland American Lodging for $45-million
October 29, 2013 - Inland American Inland American Lodging Group, Inc. today announced that it has acquired the 107-room luxury boutique Lorien Hotel & Spa in Alexandria, Va., for a purchase price of approximately $45 million.
“Recently recognized by Conde Nast Traveler as one of the 'Top 100 Hotels in the World,' this boutique luxury hotel is an excellent addition to our portfolio,” said Marcel Verbaas, president and CEO of Inland American Lodging Advisor, Inc. (“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 & Spa is located along King Street 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 & 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 Lorien Hotel & Spa represents the tenth hotel acquired by Inland American this year.
Inland American Lodging Advisor, Inc., located in Orlando, FL, focuses on acquiring and asset managing a diversified portfolio of lodging properties on behalf of Inland American Real Estate Trust, Inc. Inland American Lodging Advisor, Inc. currently oversees 96 hotels with 18,715 rooms branded under various Marriott, Hilton, Starwood, Hyatt, Fairmont, and IHG brands that are managed either by the brand managers or independent third-party management companies.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
