Minneapolis-area Embassy Suites sells for $24M

The 218-room Embassy Suites Hotel Bloomington in Minnesota has sold for $24 million. The buyer is listed as Bloomington Hotel Owner SPE, which reportedly acquired the hotel from FelCor Lodging Trust. However, Texas-based hotel-management firm Aimbridge Hospitality said that it won the hotel's management contract from the new owner—actually San Diego hotel investor Chelsea Hospitality Partners.

This was all reported by the Minneapolis/St. Paul Business Journal.

The hotel is located at 2800 American Blvd. W., along Interstate 494 between France and Penn avenues. The property, built in 1979, includes 10,000 square feet of meeting space, indoor pool and fitness center.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

Plans are underway for a full-scale renovation.

Chelsea Managing Member Gary Stougaard said: "We are confident that the exciting changes and enhancements we are planning for this property, together with Ambridges' proven Embassy Suites operating track record will unlock the full potential of the Embassy Suites brand at this hotel. We look forward to working together with the leadership team at Aimbridge, to improve operations and achieve the full potential of this hotel."

 

Suggested Articles

The two locally owned resorts join the Benchmark Resorts & Hotels brand as a result of the deal.

The combined company now will own and operate a portfolio of 40 hotels totaling more than 5,000 guestrooms.

The global crisis will provide significant merger and acquisition opportunities for hospitality companies willing to take the risk.