The largest hotel in Minnesota, the Minneapolis Hilton was auctioned in a foreclosure sale for $225 million. Wells Fargo Bank acquired the 826-room Hilton property as a result of the former owners defaulting on the property’s mortgage shortly after the pandemic began. Click here to access the full article featured in The Minneapolis/St. Paul Business Journal.
Year in Review 2022: A Rising Tide Helped Lodging Sail Past the Sirens According to Cushman & Wakefield’s latest U.S. Lodging Industry Overview, the post-pandemic recovery was well underway across the U.S. lodging industry in 2022. Despite a rocky start to the year with the continued influence of the Omicron variant, year-end U.S. hotel revenues […]
Unlike in years past when optimism among hotel executives was conservative, the first day of the 2023 Americas Lodging Investment Summit in Los Angeles revealed that leaders are all-out bullish on the health of the industry. Click here to access an article by Hotel News Now covering the event.
http://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.png00Cindy.Hoeschenhttp://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.pngCindy.Hoeschen2023-01-24 18:23:052023-01-26 18:34:40Hotel Executives Declare 2023 Year of Acceleration
The new Hotel Indigo, which is located in the Northstar Center in downtown Minneapolis, will have all of its 218 rooms open by the end of January 2023. Madison, WI-based Wilson Street Hotel Group owns and redeveloped Hotel Indigo, which is replacing the former Crown Plaza Hotel as part of a major renovation of Northstar […]
http://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.png00Cindy.Hoeschenhttp://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.pngCindy.Hoeschen2023-01-17 13:07:592023-01-18 13:17:17Hotel Indigo Open in Downtown Minneapolis
The 323-room Minneapolis Marriott Southwest in Minnetonka, MN, changed hands in late December. The buyer, MN Opus VII LLC, purchased the property for $24 million – reportedly $9.2 million less than the last time the property sold, representing an approximate 29 percent discount. Click here to access the full article published by The Minneapolis/St. Paul Business […]
The first six months of 2022 have shown the resilience of the U.S. hotel market as a whole but display nuanced performance on regional and local levels. Compared to the first half of 2021, U.S. demand increased over 18%, representing almost 100 million more occupied rooms, while the average room rate improved by 14.8%. Because […]
Hoteliers are seeing an increase in blended leisure and business travel, generally referred to as “bleisure” travel within the hotel industry. Rooms are filling up on typically slow nights, such as Sundays and Thursdays, as more companies are seeing the value of letting employees work while traveling for personal reasons, which opens opportunities for hotel […]
http://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.png00Cindy.Hoeschenhttp://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.pngCindy.Hoeschen2022-07-11 14:22:332022-07-17 14:28:08Hotels See Guests Blend Business and Leisure Trips
Daily hotel demand had been steadily increasing for a decade until the dip due to the pandemic. According to a recent forecast by STR, CoStar’s hospitality analytics firm, demand is likely to end 2022 just shy of pre-pandemic levels and reach an all-time high in 2023 and continue to shoot up in 2024. Revenues are […]
http://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.png00Cindy.Hoeschenhttp://midwesthotelsales2.teamsitesdata.com/wp-content/uploads/2018/07/CW_Logo_Color_340x156.pngCindy.Hoeschen2022-06-15 09:21:142022-06-28 09:28:48STR Forecasts Hotel Demand Headed for All-Time High in 2023
Minneapolis Hilton Sells at Foreclosure Auction
/in News /by Cindy.HoeschenThe largest hotel in Minnesota, the Minneapolis Hilton was auctioned in a foreclosure sale for $225 million. Wells Fargo Bank acquired the 826-room Hilton property as a result of the former owners defaulting on the property’s mortgage shortly after the pandemic began. Click here to access the full article featured in The Minneapolis/St. Paul Business Journal.
U.S. Lodging Industry Overview
/in News /by Cindy.HoeschenYear in Review 2022: A Rising Tide Helped Lodging Sail Past the Sirens According to Cushman & Wakefield’s latest U.S. Lodging Industry Overview, the post-pandemic recovery was well underway across the U.S. lodging industry in 2022. Despite a rocky start to the year with the continued influence of the Omicron variant, year-end U.S. hotel revenues […]
Hotel Executives Declare 2023 Year of Acceleration
/in News /by Cindy.HoeschenUnlike in years past when optimism among hotel executives was conservative, the first day of the 2023 Americas Lodging Investment Summit in Los Angeles revealed that leaders are all-out bullish on the health of the industry. Click here to access an article by Hotel News Now covering the event.
Hotel Indigo Open in Downtown Minneapolis
/in News /by Cindy.HoeschenThe new Hotel Indigo, which is located in the Northstar Center in downtown Minneapolis, will have all of its 218 rooms open by the end of January 2023. Madison, WI-based Wilson Street Hotel Group owns and redeveloped Hotel Indigo, which is replacing the former Crown Plaza Hotel as part of a major renovation of Northstar […]
Minneapolis Marriott Southwest Sells
/in News /by Cindy.HoeschenThe 323-room Minneapolis Marriott Southwest in Minnetonka, MN, changed hands in late December. The buyer, MN Opus VII LLC, purchased the property for $24 million – reportedly $9.2 million less than the last time the property sold, representing an approximate 29 percent discount. Click here to access the full article published by The Minneapolis/St. Paul Business […]
U.S. Lodging Industry Overview
/in News /by Cindy.HoeschenThe first six months of 2022 have shown the resilience of the U.S. hotel market as a whole but display nuanced performance on regional and local levels. Compared to the first half of 2021, U.S. demand increased over 18%, representing almost 100 million more occupied rooms, while the average room rate improved by 14.8%. Because […]
Hotels See Guests Blend Business and Leisure Trips
/in News /by Cindy.HoeschenHoteliers are seeing an increase in blended leisure and business travel, generally referred to as “bleisure” travel within the hotel industry. Rooms are filling up on typically slow nights, such as Sundays and Thursdays, as more companies are seeing the value of letting employees work while traveling for personal reasons, which opens opportunities for hotel […]
STR Forecasts Hotel Demand Headed for All-Time High in 2023
/in News /by Cindy.HoeschenDaily hotel demand had been steadily increasing for a decade until the dip due to the pandemic. According to a recent forecast by STR, CoStar’s hospitality analytics firm, demand is likely to end 2022 just shy of pre-pandemic levels and reach an all-time high in 2023 and continue to shoot up in 2024. Revenues are […]