SAN DIEGO—Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., has acquired the six-story, 159-room Andaz San Diego, a boutique luxury hotel managed by Hyatt for a purchase price of $53 million, or approximately $333,000 per key.

“We are very pleased to be adding this luxury asset to our portfolio,” said Marcel Verbaas, president and CEO, Inland American Lodging Advisor, Inc. “This purchase aligns with our objective to acquire Luxury, Upper-Upscale and urban Upscale hotels in the top 25 lodging markets. ”

The Andaz San Diego is ideally located in the vibrant Gaslamp Quarter near the San Diego Convention Center, PETCO Park and the San Diego Bay. The hotel has 159 guestrooms (including 17 suites), 18,500 square feet of indoor and outdoor meeting space, four restaurants and entertainment venues complete with a rooftop lounge and deck with a heated pool and a health club. Developed as the Ivy Hotel in 2007, the property was branded as the Andaz San Diego in 2010. The hotel recently debuted its newest signature restaurant, Katsuya by Starck San Diego, a leased operation occupying 6,000 square feet of indoor/outdoor space on the lobby level.