The independent hotel known as Omni Majestic Hotel was sold to Hawkeye Hotels, a privately held hotel group headquartered in Coralville, Iowa. The company purchased the property for an undisclosed amount and plans to completely refurbish and rebrand the hotel.
The property was built in 1913 and is situated in the heart of the St. Louis Central Business District, which is home to nine Fortune 500 companies and 5.5 million square feet of Class A office space with institutional tenants such as AT&T and Bank of America. The property operated as a Crowne Plaza before converting to the Omni Majestic Hotel in 1997. Hawkeye Hotels is in talks with institutional partners like Marriott, Hilton and IHG to determine the brand and flag of the hotel once renovations are completed.
“This acquisition is a win for our company and for the city of St. Louis,” said Ravi Patel, president of Hawkeye Hotels. “We’re taking great care to restore and update a hotel that has been around for over a century. When we rebrand the property with a trusted flag, we'll bring tens of thousands of loyal customers, which will mean more visitors and business to the St. Louis area, helping to grow the tax base and bolster the local economy.”
The hotel is located just a few blocks away from some of the most famous attractions in St. Louis including Busch Stadium & Ballpark Village, Scottrade Center, the Peabody Opera House, the St. Louis Convention Center, the Edward Jones Dome and the Gateway Arch, in addition to the downtown business and entertainment districts. The renovated hotel will include a 24-hour business center, high-speed Internet access, a fitness room and 1,800 square feet of meeting room space, in addition to other standard amenities.
"From a development standpoint, this deal really encompasses everything we look for, which is a vibrant market supported by strong demand generators, a partnership with a trusted brand, and a healthy economy that is built to last," said Raj Patel, chief development officer for Hawkeye Hotels. "We're looking forward to a comprehensive renovation process so that when we reopen the doors of the property, our guests will be offered one of the best experiences in the St. Louis metro area."