Sage Hospitality has acquired the Marriott Minneapolis Southwest in Minnetonka, Minn. Sage intends to invest more than $10 million into staffing and a full renovation of all public spaces and guestrooms in the 321-room hotel. Terms of the deal were not disclosed.
Sage currently operates the DoubleTree Suites by Hilton Hotel Minneapolis and has a long track record in Minnesota. "We are excited to continue growing in the Minnesota market," said Michael Everett, CIO for Sage Hospitality. "The Marriott Minneapolis Southwest features many of the key investment parameters that are core to our value add growth strategy, and Sage looks forward to bringing its management and ownership expertise to this exciting hotel. "
The Marriott Minneapolis Southwest hotel features Marriott's Great Room for community space and Stacy's Grille serving breakfast, lunch and dinner. The hotel has more than 14,000 square feet of meeting and event space and is part of the Opus 2 Business Park. Nearby to MSP Airport, Highway 169 and Interstate 494, this Marriott Hotel fits Sage's target of urban hotels, in need of redevelopment and strong leadership.