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Inland American JVs With Kessler to Develop Hotels In SC, AL

Luxury Boutique Assets in South Carolina and Alabama To Be Affiliated With Marriott
January 28, 2014
Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc. has formed joint ventures for a combined investment of $68.5 million with Kessler Enterprises to develop two hotels totaling 150 rooms, in Charleston, SC, and Mountain Brook, AL.

The hotels, both slated to open next year, will be affiliated with Marriott's Autograph Collection of boutique luxury properties.

The 100-room Grand Bohemian Hotel Mountain Brook in the Birmingham, AL, suburb of Mountain Brook, will include an art gallery, spa, interactive cooking school, wine blending, 12,630 square feet of meeting space and a rooftop terrace and restaurant.

The Grand Bohemian Hotel Charleston will mark Kessler’s first property in South Carolina. The 50-room hotel in Charleston's Historic District at the corner of Wentworth and Meeting Street will include an art gallery, more than 3,000 square feet of meeting and event space, wine blending and tasting room with curated wine selections, fitness center, specialty coffee shop and other amenities.

Editor's Note: This article is excerpted in the current edition of In The Pipeline, CoStar Group's column tracking new development and construction. To receive the column by e-mail, simply join our distribution list.

"The development of these assets further exemplifies our strategy of adding hotels to our portfolio that are well positioned to experience strong growth and capture outsized market share in high barrier-to-entry locations," said Marcel Verbaas, president and CEO of Orlando, FL-based Inland American Lodging. "Despite the significant demand and the desire of travelers for modern comforts and amenities, both Birmingham and Charleston have not experienced a new luxury hotel in their markets for more than a decade."

Under the joint venture agreements, Inland American will be the majority owner of the properties and Kessler Enterprises will develop both properties. The properties will be managed by Kessler Collection Management under a 15-year management agreement.
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