Developer reduces height, changes design of Judge Doyle Square hotel

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The developer behind the centerpiece hotel for the $175 million Judge Doyle Square project Downtown is now offering a shorter, less-flashy design for the property one block from the state Capitol.

Beitler Real Estate Services, of Chicago, which initially proposed a shimmering, 12-story glass-sheathed building to rise on the 200 block of South Pinckney Street, says it now intends to build a nine-story structure that retains its curved shape facing the street but abandons the dominant glass appearance for a mix of metal panels and glass and some masonry at the base.

Despite the reduced height, the hotel will still have roughly 260 rooms and other amenities including a first-floor lobby with bar, restaurant and meeting spaces.

Click here to read the full article featured in the Wisconsin State Journal.

Hotel added to downtown Landmark is named: the Farnam

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A new and unusual downtown hotel is set to open next spring as the “Farnam” — a name intended to stoke a spirit of adventure yet classic Omaha.

The namesake of both the 120-room hotel and the street on which it sits, Henry Farnam, was instrumental in construction of the transcontinental railway that connected the east and west.

Click here to read the full article featured in the Omaha World-Herald.

RBC Gateway development on schedule

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Construction of United Properties’ RBC Gateway project is moving forward and projects to reach the goal of having 22 stories built by year-end 2020.  The $433 million project is expected to reach its full 37 stories by February 2022.

The project broke ground in June 2019 and is slated to become the ninth-tallest building in downtown Minneapolis.  The tower will house the new headquarters of RBC Wealth Management and a 222-room Four Seasons Hotel.

Click here to read the full article featured in the Star Tribune.

Saint Kate – The Arts Hotel plans full reopens November 5

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The Saint Kate – The Arts Hotel at 139 E. Kilbourn Ave. in downtown Milwaukee reopened on November 5, 2020. The Saint Kate was the only Marcus Hotels & Resorts property In Milwaukee that had not fully reopened since the Covid-19 pandemic forced temporary closures. Marcus reopened only the ground floor for drinking and dining July 31. The property is now fully open.

Click here to read the full article in the Milwaukee Business Journal.

Minnesota STR Data: Hotels in the Month of September

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By Charlie Nejedly and Tim Storey

Minnesota hotel performance in September 2020 largely maintained the level recorded in the previous month. September’s statewide occupancy of 43.0% was down from 43.6% in August, while ADR in September decreased by 2.3% month-over-month as the summer season concluded. Statewide RevPAR of $40.43 in the month of September brought year-to-date RevPAR to $35.39, which is 53.2% below the level of the same point in 2019. Year-to-date RevPAR nationally, by comparison, is down 46.6%.

Duluth remained the strongest performing market in the state with $92.41 RevPAR in September. Rochester recorded a 7.5% month-over-month uptick in performance with September RevPAR reaching $50.88.

In the Twin Cities, the Minneapolis CBD continued to experience a reduction in supply in September, as year-to-date available rooms have decreased by 7.8% compared to 2019. This figure is closer to the national average of 4.0% less supply year-to-date than the Minnesota statewide average, which shows a 1.3% year-to-date increase in available rooms through September 2020.

For more information about the hotel industry across the Midwest, please contact Ronn Thomas or Tim Storey in the Minneapolis-St. Paul office.

Ronn Thomas
952.893.8230
ronn.thomas@cushwake.com

Tim Storey
952.837.8672
tim.storey@cushwake.com

Downtown building soon to launch again — as the Peregrine Hotel

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A seven-story landmark in downtown Omaha is about to re-launch in its new skin as the Peregrine Hotel.

The 106-year-old historic structure at 203 S. 18th St. was constructed as the Saunders Kennedy building. New owners named it the Peregrine, giving it a local flavor that nods to the feathered falcon friends that nest atop a neighboring office tower.

The Peregrine has undergone an extensive $14.6 million conversion into an 89-room, high-end Hilton Curio brand and is to open for business in mid-December, said David Scott, director of sales and marketing.

Click here to read the full article featured in the Omaha World-Herald.

Milwaukee hotel occupancy remains below 40%

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After weeks of slow but steady increases in occupancy throughout the summer, the fall months have brought inconsistent hotel occupancy for Milwaukee-area hotels as the impact of COVID-19 continues.

Data analytics firm STR reported that for the week of September 27 to October 3, Milwaukee occupancy was 36.5%, a 45% year-over-year decline. Along with significantly lower occupancy totals from a year prior, Milwaukee occupancy also fell from the previous week’s total of 37.7%.

The average daily room rate for the week of Sept. 27 to Oct. 3 was $82.52, down 26.9% year-over-year. Revenue per available room in Milwaukee was $30.09, a 59.8% year-over-year decline.

Click here to read the full article in the Milwaukee Business Journal.