Marcus Hotels & Resorts, Hempel Real Estate and Robinson Park Close Acquisition of Loews Minneapolis Hotel
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Insights
The acquisition of the Loews Minneapolis Hotel by Marcus Hotels & Resorts, in partnership with Hempel Real Estate and Robinson Park and its rebranding to The Lofton Hotel under the Tapestry Collection by Hilton, represents a significant development in the hospitality industry. This move could potentially increase market share and customer base for Marcus Hotels & Resorts, especially considering the strategic location of the property in downtown Minneapolis. The hotel's proximity to key entertainment and sports venues, coupled with the latest amenities, may boost its appeal to both business and leisure travelers, potentially increasing occupancy rates and revenue.
Furthermore, the affiliation with the Tapestry Collection by Hilton could enhance brand recognition and customer loyalty through the Hilton Honors program. In the long-term, the investment in this property could pay off by attracting a higher volume of guests and events, given the more than 15,000 square feet of flexible meeting and event space equipped with state-of-the-art technology. However, the success of this venture will depend on the hotel's ability to differentiate itself in a competitive market and the overall health of the travel and hospitality sector post-pandemic.
The rebranding of a hotel property, such as the transition of Loews Minneapolis Hotel to The Lofton Hotel, is a strategic move that can rejuvenate a property's image and attract new demographics. The association with Hilton's Tapestry Collection offers a unique value proposition by blending the independence of a boutique hotel with the reliability of a global chain. This can be particularly attractive for travelers seeking authentic, local experiences coupled with the assurance of quality associated with a renowned brand like Hilton.
From a business perspective, the appointment of an experienced general manager like Jim Waldvogel is likely to have a positive impact on the hotel's operations, given his extensive background and success with the Hilton Minneapolis/Bloomington property. His community involvement and leadership could also foster stronger ties with the local market, which is essential for the hotel's integration into the social fabric of Minneapolis and could lead to increased local patronage.
The financial implications of this acquisition and rebranding are multifaceted. While the initial costs and investments in rebranding and upgrading the property are not disclosed, they are likely substantial. The return on this investment will be critical for stakeholders, including The Marcus Corporation's shareholders. The performance of MCS stock could be influenced by the hotel's ability to generate revenue and control operating costs under the new brand.
Investors will be closely monitoring the hotel's financial performance in subsequent quarters for signs of growth or challenges. The strategic location and upgraded amenities could allow for premium pricing strategies, potentially enhancing profit margins. It is also important to consider the broader economic conditions, as the hospitality industry is sensitive to changes in discretionary spending. Any economic downturn could impact the hotel's occupancy and revenue.
The 251-room property will be rebranded as The Lofton Hotel under the Tapestry Collection by Hilton flag; Marcus Hotels & Resorts to manage the property
The Lofton Hotel in
“Since 1993, Marcus Hotels & Resorts has been invested in elevating the travel and leisure experience in
“We are excited to invest once again in the downtown community of
“As long-time investors in
The Lofton Hotel
Located in downtown
This full-service lifestyle property features 251 contemporary guest rooms and suites that highlight the state’s topographic features. In addition to artwork adorning the rooms and common areas that draws inspiration from key aspects of Minneapolis’ identity, each room is equipped with the latest amenities, such as Keurig gourmet coffee makers, and lavish limestone counters and glass basins in the bathrooms. The Lofton Hotel’s suites have impressive views of the city skyline with many boasting views directly into Target Field, including onto home plate. Additionally, each suite offers extra space and additional amenities to make guest stays more comfortable. Two of The Lofton Hotel’s signature suites celebrate famous local artists with unique features, such as an in-room grand piano once played by the Piano Man himself, Billy Joel, large living spaces for entertaining, and artwork that celebrates
Food and beverage outlets include a signature restaurant currently serving New American cuisine inspired by the Pacific regions, as well as a bar and lounge on the lobby level offering handcrafted cocktails and local microbrews, along with small bites. To appeal to both locals and guests alike, both concepts will be updated to offer an elevated food and beverage experience. Other hotel amenities include a robust business center, a fitness center with a full range of cardio-vascular and weightlifting equipment as well as Peloton bikes, a pet-friendly policy, and an attentive concierge service to help travelers get the most out of their stays.
The Lofton Hotel’s New General Manager
Marcus Hotels & Resorts has appointed Jim Waldvogel as general manager of The Lofton Hotel, effective immediately. Waldvogel brings more than 30 years of hospitality experience, with more than 26 years of his career serving in various leadership positions at other hotels in the
“We are excited for Jim to assume leadership of The Lofton Hotel, a property we believe fits perfectly within our portfolio of premium branded and independent hotels,” said Evans. “His proven hospitality expertise and passion for making each guest’s stay extraordinary will continue to elevate The Lofton Hotel as one of the top destinations in the Twin Cities.”
Hilton Honors
The Lofton Hotel is part of Hilton Honors®, the award-winning guest loyalty program for Hilton’s 18 world-class brands. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can’t be found anywhere else and free standard WiFi. Members also have access to contactless technology exclusively through the industry-leading Hilton Honors mobile app, where Hilton Honors members can check-in, choose their room and access their room using Digital Key.
For more information or to book a reservation at The Lofton Hotel, please visit: www.tapestrycollection.com/theloftonhotel.
About Marcus Hotels & Resorts
With the addition of The Lofton Hotel, Marcus Hotels & Resorts owns and/or manages 16 hotels, resorts and other properties in the
About The Marcus Corporation
Headquartered in
About Hempel Real Estate
Hempel Real Estate is a
About Robinson Park
Based in
About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 22 world-class brands comprising more than 7,500 properties and nearly 1.2 million rooms, in 126 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history, was named the No. 1 World’s Best Workplace by Great Place to Work and Fortune and has been recognized as a global leader on the Dow Jones Sustainability Indices for seven consecutive years. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 180 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About Tapestry Collection by Hilton
Tapestry Collection by Hilton is a portfolio of over 120 original hotels that offer guests unique style and vibrant personality, encouraging them to connect to their destination and enjoy authentic, off-the-beaten-path experiences. While each property has a unique story to share that comes to life through uplifting design and unique food & beverage, every Tapestry Collection property is united by the reliability that comes with the Hilton name, in addition to the benefits of the award-winning Hilton Honors program. Experience Tapestry Collection by Hilton by booking at tapestrycollectionbyhilton.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Tapestry Collection by Hilton at stories.hilton.com/tapestry, and follow the brand on Facebook, Instagram and Twitter.
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Sam Wisniewski
sam.wisniewski@hprstrategies.com
Source: The Marcus Corporation
FAQ
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