Sage Hospitality Acquires Marriott Minneapolis Southwest
Wednesday July 2nd, 2014 - 11:07AM E
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MINNETONKA, MN—Sage Hospitality has acquired the 321-room Marriott Minneapolis Southwest located here.
Sage will invest more than $10 million into staffing and renovation all public spaces and guestrooms. Sage currently operates the DoubleTree Suites by Hilton Hotel Minneapolis.
The Marriott Minneapolis Southwest features Marriott’s Great Room and Stacy’s Grille, serving breakfast, lunch and dinner. The property offers more than 14,000 sq. ft. of meeting and event space and is part of the Opus 2 Business Park.
“We are excited to continue growing in the Minnesota market,” stated Michael Everett, chief investment officer, Sage Hospitality. “The Marriott Minneapolis Southwest features many of the key investment parameters that are core to our value add growth strategy, and Sage looks forward to bringing its management and ownership expertise to this exciting hotel.”
Tags: Sage Hospitality • Marriott Minneapolis Southwest • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.