MINNEAPOLIS—Graves Hospitality Corporation officially announced that it is taking over the management and redevelopment of two hotels in the downtown St. Paul market—the Crowne Plaza St. Paul Riverfront Hotel and the DoubleTree St. Paul Downtown Hotel. The acquisition of these two hotels comprises nearly half of the hotel rooms in downtown St. Paul.
The hotels were purchased as part of an investment diversification mission by the Mille Lacs Band of Ojibwe, returning the hotel’s ownership back to Minnesota. Over the past year, Ben Graves, president of Graves Hospitality Corporation, has worked closely with Joseph Nayquonabe, Jr., commissioner of corporate affairs for the Mille Lacs Band, to identify hotel properties with significant investment potential.
“Graves Hospitality’s dedication to operating luxury hotels and providing the highest level of customer service aligns well with the Band’s goals. For over 20 years, gaming has been the primary economic development tool for the Mille Lacs Band, and it has been very good for us, but the time has come to use the significant expertise we’ve developed in the hospitality sector to create new opportunities to diversify and grow our economic footprint beyond casinos, and beyond our own community,” Nayquonabe said.
Ipgrades will be made to both properties in the coming months, in accordance with the property improvement plans (PIPs) issued by each franchise.
