MINNEAPOLIS-After spending $61 million to convert a 105-year-old office building into the 222-room Hotel Minneapolis in 2008, locally-based Hempel Properties has agreed to make another change. The company has formed a joint venture with Norwalk, CT-based HEI Hotels & Resorts to convert the property into one of the new Marriott Autograph hotel concepts.
The 10-story property at 215 4th St. South is a reuse of the original Midland Bank Building. The new Autograph concept, started late last year by Marriott, allows a hotel to keep its original character. “It’s the perfect fit for the site,” says Jon Hempel, president of the company. “The building is one of those beautiful old bank buildings, with fluted columns and high ceilings. It’s a great unique hotel.”
He tells GlobeSt.com that the hotel has been seeing brisk business, though of course it felt the downturn with the rest of the country. “We’re coming back, we see new growth in the travel sector. The hotels around here are filling up far surpassing last year.”
The hotel features the 250-seat Max restaurant, which was also launched in 2008. The Autograph hotel will also feature a new Marriott Rewards member concierge on the top floor, Hempel says. His firm will serve as asset manager and will manage the additional office and retail portions of the 250,000-square-foot building. The property is also connected to the city’s Skyway indoor walking path system.
Steve Mendell, HEI’s president of acquisitions and development, said his firm will provide the hotel management team for the new Autograph. “This newly-opened hotel is a strong addition to our growing portfolio of first-class properties in urban markets with high barriers to new entry,” he said in a statement.
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