Inland American Lodging sells US hotels to GVM

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

Inland American Lodging Group, a wholly-owned subsidiary of Inland American Real Estate Trust, has completed the $30m sale of five TownePlace Suites by Marriott to US-based hotel investment venture GVM Hotel.

Inland American Lodging Group, a wholly owned subsidiary of Inland American Real Estate Trust, has completed the $30m sale of five TownePlace Suites by Marriott to US-based hotel investment venture GVM Hotel.

The 571-room portfolio includes the 127-room TownePlace Suites Austin Northwest, the 94-room TownePlace Suites Bryan College Station, the 128-room TownePlace Suites Houston Northwest and the 94-room TownePlace Suites Houston Clearlake in Texas, and the 128-room TownePlace Suites Birmingham Homewood in Alabama.
 
Inland American Lodging Advisor president and CEO Marcel Verbaas said the transaction further illustrates the company's objective of improving the portfolio's value through the disposition of non-strategic assets.