OAK BROOK, Ill.--(BUSINESS WIRE)--Inland American Lodging Group, Inc. (“IALG”), a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that it has completed lobby renovation efforts at 19 Courtyard by Marriott hotels, adopting the “Refreshing Business” concept. The lobbies now feature many new amenities to significantly increase the satisfaction of the hotels’ guests and allow the business traveler to stay connected. Elements of these new lobbies, which have become very popular with guests, include interactive 55-inch LCD touch screens offering local information, maps, weather, business news and sports headlines and new casual dining bistros with a full bar and Starbucks coffee.
“Inland has always been committed to ensuring our hotel portfolio offers the latest in business travel services to attract the corporate meeting and travel market,” said Marcel Verbaas, president and CEO, Inland American Lodging Advisor, Inc. “This capital dollar investment in our assets will continue to ensure premium returns to our stockholders as the lodging market continues its recovery.”
The investment totaled over $13 million, with an average cost of approximately $700,000 per lobby. IALG is also committed to completing five additional lobby renovations in 2011. “Since acquiring the majority of our assets in 2007 and 2008, Inland American has invested steadily to ensure that we have one of the best maintained and freshest portfolios in the industry,” Mr. Verbaas continued, “The completion of these lobby renovations is a prime example of these efforts. “
The Courtyards that were renovated are located in:
| Ann Arbor, MI | St. Charles, IL | Ft. Worth Lands End, TX | ||||||
| Houston West University, TX | Houston Westchase, TX | Houston Northwest, TX | ||||||
| Houston Brookhollow, TX | Harlingen, TX | Richmond Airport, VA | ||||||
| Roanoke, VA | Lebanon, NJ | Dallas Addison, TX | ||||||
| Dunn Loring, VA | Ft. Meade, MD | Birmingham, AL | ||||||
| Seattle Federal Way, WA | Wilmington, NC | Elizabeth, NJ | ||||||
| Tucson Williams Centre, AZ | ||||||||
About Inland American Lodging Advisor, Inc.
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 104 hotels with 16,251 rooms branded under various Marriott, Hilton, Starwood, Hyatt, IHG and Choice brands that are managed either by the brand managers or independent third-party management companies. For further information regarding the company, please refer to our website at www.inlandamericanlodging.com.
About Inland American Real Estate Trust, Inc.
Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada. The company also invests in joint ventures, development projects, real estate loans and marketable securities. As of September 30, 2010 Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 981 properties, representing more than 48 million square feet of retail, industrial and office properties, 10,547 multi-family units and 15,384 lodging rooms. Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc. For further information regarding Inland American, please refer to the company website at www.inlandamerican.com.