The Marquette Hotel in Minneapolis sold to Austin investor

Marquette Hotel in Minneapolis
Marquette Hotel in Minneapolis

The Marquette Hotel at IDS Center in Minneapolis was sold to a company affiliated with JMI Realty for $74.5 million.

The 281-room Marquette Hotel is branded under Hilton Hotels & Resorts. The property's sale price comes out to more than $265,000 per room. The 57-story IDS Center is attached to the hotel, but is owned by a different entity than the 12-story hotel.

JMI is a private investment and development group based out of Austin, Texas, and is the hotel development partner for the Nicollet Hotel Block.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.



External Source : StarTribune

Suggested Articles

SVC plans to transfer the branding and management of 98 Marriott hotels to Sonesta.

Shortly after acquiring six hotel portfolios from Colony Capital, Highgate has assumed management of Trust Hospitality’s portfolio of 22 properties.

The Kelley House is one of the five oldest hotels in the U.S., taking up six buildings in Edgartown, Mass.