Ashford Hospitality Trust to Buy Two Minneapolis Hotels for $101 Million
Ashford Hospitality Trust has agreed to purchase two upscale Minneapolis hotels for $101 million- the 229-room W Minneapolis Hotel--The Foshay and the 60-room Le Méridien Chambers Minneapolis. Both properties will continue to be managed by Starwood Hotels.
The Le Méridien features more than 200 pieces of original contemporary artwork, in-room massage services and a 24-hour fitness center. The Marin Restaurant and Bar offers a menu emphasizing local ingredients, including octopus carpacchio, duroc pork chop and sun choke agnolotti. For meetings, the hotel has more than 15,000 square feet of event space, including a rooftop lounge and balcony.
The W Minneapolis, which underwent a $90 million restoration in 2008, has 6,700 square feet of function space, a gym and a steak house. The historic hotel was the tallest building in the city from 1929-1971. In the heart of downtown Minneapolis, the property is near Minnesota Orchestra Hall, the Target Center and Target Field.