Ryan Cos. US Inc. is trying to sell its Sheraton Minneapolis Midtown Hotel, the Minneapolis/St. Paul Business Journal is reporting. The 136-room hotel, built in 2005, is listed at $15.3 million. It includes a restaurant, lounge and five meeting rooms.
The hotel is attached by skyway to the Midtown Exchange complex.
Ryan Cos. developed the hotel in addition to redeveloping the Midtown Exchange with the city of Minneapolis.
Wischermann Partners of Minnetonka manages the hotel, which generated $5.2 million in revenue last year and ran at 66-percent occupancy.
The listing says the hotel is due for a $2.1-million refresh required by Sheraton.
After its completion in December 2005, the hotel was valued at $17 million.