Chairman of RLJ, Robert L. Johnson.
Inland American Real Estate Trust, Inc. bought the 22-hotel portfolio from The RLJ Urban Lodging Fund, a privately-held hotel real estate investment company for approximately $900 million.
The 4,061-room portfolio consists of upper upscale and upscale full and select-service hotels that are operated by brands including Marriott, Hilton and Hyatt. They are primarily located in major urban markets that Inland American Lodging believes to have strong barriers to entry and are less sensitive to economic changes.
The portfolio includes hotels in Washington, New Jersey, Maryland, Texas, Alabama, Georgia, Ohio, Colorado, Massachusetts, Arizona, New York and the Marriott Chicago
