Marcus Inns & Inns Agrees to Collectively Form Loews Minneapolis Hotel
MILWAUKEE—Marcus Inns & Inns announced that it has reached an agreement to collectively place the Loews Minneapolis Hotel with Hempel True Property and Robinson Park Investments. The terms of the agreement weren’t disclosed and are subject to the satisfaction of certain typical closing stipulations. Upon closing, Marcus Inns & Inns will notify hotel administration, that would be rebranded below one more predominant global hotel machine.
“The agreement to aquire the Loews Minneapolis Hotel is per our blueprint to co-invest with love-minded companions and dwelling up leading properties in the future of the nation,” mentioned Michael Evans, president of Marcus Inns & Inns. “Here is an exhilarating opportunity to assemble sign by investing in a excellent-looking out asset with a focused administration draw whereas including one more premier destination to our portfolio of branded and self sustaining daily life accommodations.”
Positioned in downtown Minneapolis, this fleshy-carrier luxury hotel has 251 rooms and more than 12,500 square feet of assembly space. For substitute and leisure vacationers alike, the hotel also has a fleshy-carrier restaurant and foyer bar and is within walking distance of leisure and sports activities locations. It’s connected by skywalk to the Target Middle, residence to the NBA Minnesota Timberwolves and WNBA Minnesota Lynx, and is one city block from Target Field, residence to the MLB Minnesota Twins.
This might well well be the third property Marcus Inns & Inns managed in Minneapolis since 1993. The firm also manages the Hilton Minneapolis/Bloomington in Bloomington, Minnesota, and previously managed the Crowne Plaza-Northstar Hotel.
The acquisition is predicted to end at the birth of March 2024.
