Chesapeake Lodging buys San Diego hotel for $55.5M

Associated Press//June 20, 2011//

Listen to this article

ANNAPOLIS — Chesapeake Lodging Trust said Monday that it has purchased Hotel Indigo San Diego Gaslamp Quarter from InterContinental Hotels Group for $55.5 million, giving it access to the San Diego market.

The real estate investment trust paid for the transaction by borrowing under its revolving credit agreement.

Chesapeake said it is in a long-term management deal with InterContinental to continue operating the property under the Hotel Indigo name.

The hotel is located in downtown San Diego and houses guestrooms and suites, meeting space, a business center, fitness center, Table 509 Bar and Kitchen and Level 9 Rooftop Bar.

Related Content

McCormick announces increase in quarterly dividend

The board of directors of McCormick & Company Inc. announced Wednesday an increase in the quarterly dividend.

November 29, 2023

The Village at Blenehim Run, at 1919 & 1921 Pulaski Highway, is a 51-unit affordable apartment community. This is the first phase of the development and is a four-story, central corridor, elevator building. Village at Blenheim Run serves Havre de Grace families, offering a mix of one-, two- and three-bedroom apartments. (Submitted photo)

Developers break ground on Harford County affordable housing development

Salisbury-based Green Street Housing hosted a groundbreaking ceremony at the Village at Blenheim Run in Havre [...]

November 28, 2023

T. Rowe Price Group names new head of global investments

Baltimore-based global asset management company T. Rowe Price Group Inc. announced its new head of global inve[...]

November 28, 2023

Federal Reserve Board of Governors member Christopher Waller poses for a photo on May 23, 2022, in Washington. (AP Photo/Patrick Semansky, File)

Fed official raises possibility of a rate cut by spring if inflation keeps slowing

A key Federal Reserve official raised the possibility that the Fed could cut its benchmark interest rate as ea[...]

November 28, 2023

A Utah Food Bank volunteer carries groceries for the needy at a mobile food pantry distribution site in Salt Lake City on Dec. 21, 2022. Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual as nonprofits and industry groups say donations so far are down compared with previous years. Many organizations will be looking to make up the difference on GivingTuesday, which is the Tuesday after Thanksgiving. (AP Photo/Rick Bowmer, File)

Supporting nonprofits on GivingTuesday this year could have bigger impact than usual

Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual.

November 28, 2023

Turned down for a loan, small business owners look to family and even crowdsourcing to grow

Among the many challenges small businesses face as they try to grow these days, getting a loan is right near t[...]

November 28, 2023

Select Region or Brand

Upcoming Event