IHG Sells Hotel Indigo San Diego to Chesapeake Lodging

22nd June 2011 (Last Updated June 22nd, 2011 18:30)

InterContinental Hotels Group (IHG) has sold its 210-room Hotel Indigo property in San Diego, US, to Chesapeake Lodging Trust for $55.5m. Chesapeake funded the acquisition with a loan under its revolving credit facility. The property offers 139m² of meeting space, a bu

InterContinental Hotels Group (IHG) has sold its 210-room Hotel Indigo property in San Diego, US, to Chesapeake Lodging Trust for $55.5m.

Chesapeake funded the acquisition with a loan under its revolving credit facility.

The property offers 139m² of meeting space, a business centre, a fitness centre, a parking garage and two food and beverage outlets.

The 12-storey Hotel Indigo San Diego will continue to be managed by IHG under a long-term management agreement following the acquisition.