Water parks operator Great Wolf Resorts Inc. is buying the Radisson Hotel Bloomington by Mall of America and the attached Water Park of America with plans to renovate and rebrand the property. The hotel will get refurbished rooms and a new restaurant.
AmericInn, the largest mid-scale hotel brand in the upper Midwest, is expanding into Sleepy Eye, MN, with the signing of a new AmericInn at 1100 Main Street East. AmericInn Hotel and Suites Sleepy Eye is a conversion that will be attached to the new Sleepy Eye Event Center.
A 120-room Courtyard by Marriott is planned at 185 Radio Drive in Woodbury’s CityPlace development, next door to the new 116-room Residence Inn by Marriott. TMI Hospitality is the developer for both hotels.
Hotel News Now’s go-to lending experts kick off a three-part year-end series of articles by giving their thoughts on how the financing environment unfolded in 2016.
The Marcus Corp. has released details and renderings of a proposal for a major hotel expansion and high-rise apartment tower at the long-dormant city-owned parking lot at North Fourth Street and West Wisconsin Avenue in downtown Milwaukee. Plans include a 276-room expansion of the Hilton Milwaukee City Center, 509 W. Wisconsin Ave., an additional 61,500 square feet of new meeting and exhibit space, a hub for the new downtown streetcar, retail, food and beverage outlets, and a 200-unit high-rise apartment tower.
The Des Moines Marriott Downtown is set to be sold for nearly $34 million to Chicago-based Singerman Real Estate. The 33-story hotel is Des Moines’ third-tallest building and features more than 400 rooms.
Developer United Properties will relocate its headquarters from a Bloomington office complex to Gaviidae Common in downtown Minneapolis. The move signifies how far the company has come in the past few years as it has diversified its business from its concentration on suburban office park development.
The 127-suite Residence Inn by Marriott in Wauwatosa, WI, opened December 6, 2016. Located at 1300 Discovery Parkway, the all-suite Residence Inn Milwaukee West will operate as a Marriott franchise, owned and managed by Hospitality Specialists of Grand Rapids, MI. Situated in the hospital district of Wauwatosa and 15 miles from General Mitchell International Airport, the Residence Inn Milwaukee West offers its guests access to downtown Milwaukee, the Harley Davidson Museum and the Milwaukee County Zoo.
Hotelier Harshal Patel, 26, is working to redevelop the former Federal Plaza office building in downtown Minneapolis into a boutique hotel after buying the property in 2014. Patel also recently bought the 171-room Holiday Inn Bloomington for $14.25 million.
Hotel REITs could be poised for a prolonged comeback in 2017, riding a wave of post-election hopefulness after a year of investor skepticism.
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