As part of its strategic plan to add properties in gateway cities and resort destinations, Loews Hotels & Resorts has agreed to purchase the Graves 601 Hotel Wyndham Grand in downtown Minneapolis from current owner Graves Hospitality Corp., Loews Corp. announced
yesterday. The acquisition is expected to close in July.
“Minneapolis is a key market for us as we expand our brand,” Loews Hotels & Resorts President and CEO Paul Whetsell said in a statement. “Not only is Graves 601 in a prime location, the hotel has a quality product and strong reputation in the market, which makes this a welcome addition to the Loews family.”
Connected by skyway to the Target Center, Graves 601 Hotel has 255 guest rooms and over 9,000 square feet of meeting space, not to mention two restaurants and bars, a recently renovated spa and a fitness center.
“We are pleased to be selling to Loews knowing that they are a first class company and a good fit for the market, the team members and community,” said Jim Graves, founder of Graves Hospitality. “We feel absolutely confident that passing the baton to Loews ensures the hotel will continue to be an asset for Minnesota.”
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