The Wyndham Garden hotel in Rochester, Minn., is now on the chopping block. The 145-room hotel, which is owned by a hotel group based out of Wayzata, Minn., is preparing to be sold in a bankruptcy auction in November.
The sale of the property is being undertaken by New York City’s Keen-Summit Capital Partners. Wayzata-Rochester 16 Hospitality Associates, the owners of the hotel, filed for Chapter 11 bankruptcy in June. The company shares ownership in the hotel with Bay Ridge Properties, also based out of Wayzata. Bay Ridge owns hotels in Minnesota, North Dakota and Costa Rica, but is not part of the bankruptcy filing.
Wayzata-Rochester 16 purchased the hotel in 2012 for $4.8 million before renovating the property and changing flags from Americas Best Value to Wyndham Garden. The estimated market value of the property today is $11.7 million.
"The $3.8 million renovation along with the approval of the DMC initiative plus the proximity to the Olmsted County Fairgrounds directly across the street has positioned the Wyndham Garden to attract a large share of guests" Matt Bordwin, co-president at Keen-Summit Capital Partners, said in a statement.
The hotel is pet friendly and is located near the Mayo Clinic and Mayo Civic Center, and offers free shuttle service to and from the Clinic. The property has 6,500 square feet of meeting and event space, and offers amenities such as laundry services, an indoor pool, room service, a business center, banquet facilities and free parking.
The hotel is also attached to Cowboy Jack’s Eatery, a dining location that opened two years ago. However, the bankruptcy of the hotel is not expected to affect the operations of the restaurant.