Monday, September 16, 2024 Hospitality Ventures Management Group (HVMG), a well-established third-party hotel operator based in Atlanta, has recently taken over the management of the Embassy Suites by Hilton Bloomington/Minneapolis. This transition includes a comprehensive renovation project valued at $9 million, aimed at upgrading the hotel’s guest rooms, public spaces, restaurant, and other facilities. The renovation is expected to elevate the property to a ‘like-new’ condition, thereby positioning it as one of the newest hotels in the market.
Strategic Expansion and Renovation Details HVMG’s move to manage the Embassy Suites by Hilton Bloomington/Minneapolis aligns with its strategic expansion efforts. The company’s Executive Vice President and Chief Growth Officer highlighted that this hotel, with its significant renovation, represents an ideal addition to their expanding portfolio. The renovation project, anticipated to last approximately six months, is set to revitalize the property significantly, enhancing its appeal and functionality.
The Embassy Suites is located at 2800 American Blvd. West, conveniently situated just ten minutes away from the Mall of America and within a short distance from downtown Minneapolis, Valleyfair Amusement Park, and Minneapolis−Saint Paul Airport. The hotel’s amenities include an indoor pool, a 24/7 fitness center, and complimentary Wi-Fi.
Guests can dine at the Iron Range Restaurant & Bar, which offers modern American cuisine, or enjoy a complimentary breakfast and evening reception. Additionally, the hotel features 5,600 square feet of meeting space, complete with on-site audiovisual specialists. Industry Impact and Future Projections The significant investment in renovating the Embassy Suites is expected to have several impacts on the local and broader travel industry.
The upgrade aims to enhance the overall guest experience, positioning the hotel as a premier choice for travelers in the Minneapolis area. HVMG’s involvement reflects its expertise in managing Hilton-branded projects and overseeing major refurbishments, which is likely to contribute positively to the hotel’s market presence. The broader implications for the travel industry include: Market Forecast and Strategic Goals According to Lodging Analytics Research & Consulting (LARC), the Minneapolis area continues to maintain high ratings, with forecasts predicting positive revenue per available room (RevPAR) growth over the next five years.
This trend supports HVMG’s strategy to expand its presence in high-performing markets and similar locations across the U.S. The company’s focus on expanding its footprint in these regions is aligned with broader industry trends favoring investment in high-potential markets.
By enhancing the Embassy Suites’ facilities and leveraging its strategic location, HVMG aims to capitalize on these positive market conditions, ensuring that the property meets modern standards and attracts a diverse range of travelers. The investment in the hotel underscores HVMG’s commitment to operational excellence and its broader goal of driving growth and innovation within the hospitality industry..
