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Loews Minneapolis Lodge
Marcus Inns & Resorts introduced right now that it together with Hempel Actual Property and Robinson Park Investments have reached an settlement to collectively purchase the Loews Minneapolis Lodge. The phrases of the settlement weren’t disclosed and are topic to the satisfaction of sure commonplace closing circumstances. Upon closing, Marcus Inns & Resorts will assume administration of the resort, which will likely be rebranded below one other main world resort system.
“The settlement to buy the Loews Minneapolis Lodge is in step with our technique to co-invest with like-minded companions and handle main properties throughout the nation,” mentioned Michael Evans, president of Marcus Inns & Resorts. “That is an thrilling alternative to create worth by investing in a horny asset with a targeted administration technique, whereas including one other premier vacation spot to our portfolio of branded and impartial life-style accommodations.”
Situated within the coronary heart of downtown Minneapolis, this full-service luxurious resort options 251 rooms and greater than 12,500 sq. ft of versatile assembly area. Enticing to enterprise and leisure vacationers alike, the resort additionally includes a full-service restaurant and foyer bar and is inside strolling distance of many premier leisure and sports activities locations. It’s related by skywalk to the Goal Heart, house to the NBA Minnesota Timberwolves and WNBA Minnesota Lynx, and is one metropolis block from Goal Subject, house to the MLB Minnesota Twins.
This would be the third property managed by Marcus Inns & Resorts in Minneapolis since 1993. The corporate additionally manages the Hilton Minneapolis/Bloomington in Bloomington, Minnesota and beforehand managed the Crowne Plaza-Northstar Lodge.
The acquisition is predicted to shut in the beginning of March 2024.
