MINNEAPOLIS
Graves Hospitality has announced the sale of the Graves 601 Hotel located in downtown Minneapolis, to Loews Hotels & Resorts. The sale resulted from an off-market, unsolicited offer by Loews Hotels & Resorts, a national chain that desired a signature, full-service Midwest property. The acquisition is expected to close in July of 2014.
Loews Hotels & Resorts seeks out distinctive properties that offer business, leisure, and family travelers the ultimate in upscale experiences across the U.S. and Canada. "Loews is known for their excellent level of service, and they are diligent about each hotel reflecting its unique location. The Graves 601 will be no exception," explained Jim Graves. "We still own and manage a Marriott Residence Inn, which is one of our downtown holdings just a few blocks away. We're as committed to Minneapolis as ever, and we feel absolutely confident that passing the baton to Loews will ensure the hotel continues to be an asset for Minnesota," Graves continued.
The property was recently named one of the top 100 hotels in the world by Conde Nast, and offers an array of modernist meeting spaces, including a sleek ballroom with capacity for up to 750 attendees reception-style.
