Chelsea Hilton changes hands for $69M

Bethesda, Md.-based DiamondRock Hospitality just picked up the Hilton Garden Inn Chelsea from Inland American Winston Hotels for $68.4 million, according to a deed filed today with the city. The 169-room hotel at 121 West 28th Street, which opened in 2007, is the company’s third in New York City and 23rd nationwide. New York City has proven to be one of the best hotel markets in the United States and is exhibiting robust growth in 2010,” DiamondRock CEO Mark Brugger said in a statement. “The hotel was particularly desirable to DiamondRock because of its ability to charge essentially full-service room rates with a more profitable limited-service cost structure.” The deal closed Sept. 8, records show. TRD