The-Westin-Minneapolis

Carey Watermark Investors Acquires Westin Minneapolis for $66.4 Million

by Danielle Everson

MINNEAPOLIS — Carey Watermark Investors Inc. has acquired the Westin Minneapolis hotel for $66.4 million. The full-service hotel includes 214 guestrooms and is located in downtown Minneapolis. The acquisition was financed with $43.5 million of debt. The Westin Minneapolis, originally built as the Farmers & Mechanics Bank building in 1942, formerly served as a bank hall and was repurposed in 2007 as the hotel’s lobby. The hotel features 34-foot vaulted ceilings, a marble staircase and wood-carved emblems signifying the leading industries of the World War II era. As part of the 2007 redevelopment, the adjoining office building was fully reconfigured to house the hotel’s guestrooms and meeting space. The hotel will continue to be managed by HEI Hotels & Resorts, a hospitality owner/operator that owns and manages 41 full-service, upper-upscale, luxury and premium select-service hotels and resorts throughout the U.S.

You may also like