Chesapeake Lodging Trust Acquires Hotel Indigo San Diego Gaslamp Quarter for $55.5M

Chesapeake Lodging Trust CHSP announced today that it has acquired the 210-room Hotel Indigo San Diego Gaslamp Quarter located in San Diego, California for a purchase price of $55.5 million, or approximately $264,000 per key, from InterContinental Hotels Group IHG. The Company funded the acquisition with a borrowing under its revolving credit facility. The Company entered into a long-term management agreement with IHG to continue operating the hotel under the Hotel Indigo flag.