A wholly owned subsidiary of Inland American Real Estate Trust bought two hotels in Houston for approximately US$220 million.
Inland American Real Estate Trust, Oak Brook, Illinois, purchased the 487-room The Westin Galleria Houston and the 406-room The Westin Oaks Houston Hotel at the Galleria. The two howls are both located at Houston’s The Galleria shopping center.
Inland American said both hotels recently underwent renovations totaling US$35 million. The properties will continue to be managed by Starwood Hotels & Resorts Worldwide, Stamford, Connecticut.
“The acquisition of these outstanding properties, the only hotels connected to the acclaimed Galleria Mall complex, is an exciting step in our ongoing strategy to enhance our portfolio of upper-upscale hotels,” said Marcel Verbaas, president and CEO, Inland American Lodging Advisor. “The Houston lodging market has continued to outperform the majority of the country, positioning these recently-renovated properties for strong returns going forward.”
