DENVER, July 1, 2014 /PRNewswire/ -- Sage Hospitality, one of the nation's top hotel investment and management companies, has announced the acquisition of the Marriott Minneapolis Southwest in Minnetonka, Minnesota. Sage intends to invest more than $10 million into staffing and a full renovation of all public spaces and guest rooms in the 321 room hotel.
Sage currently operates the DoubleTree Suites by Hilton Hotel Minneapolis and has a long and extensive track record in Minnesota. "We are excited to continue growing in the Minnesota market," said Michael Everett, Chief Investment Officer 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 offers 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.
To learn more about Sage Hospitality and their continuously growing portfolio, visit www.sagehospitality.com.
About Sage Hospitality
Founded in 1984, Sage Hospitality has strategically grown into one of the largest privately held hotel investment, management and development companies in the nation operating a variety of large, full-service hotels and extended stay and select-service properties. Sage Hospitality's comprehensive management portfolio includes major international brands for Marriott, Starwood, Hilton and IHG as well as the independent boutique hotels. Sage Hospitality has further differentiated with the creation of the Sage Restaurant Group, which has created and is managing over nine unique restaurant concepts including the acclaimed Mercat a la Planxa restaurant in Chicago. For more information, please visit www.sagehospitality.com.
SOURCE Sage Hospitality