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Sales in the hospitality market this year rebounded, especially among hotels in downtown Minneapolis. Although activity resumed, many of the hotels on this year’s top sales list were sold at bargain prices.
Target acquired! MCR — the country’s 4th-largest hotel owner-operator — has purchased the 229-room DoubleTree Suites by Hilton Minneapolis Downtown, a 12-story hotel conveniently positioned across the street from Target Corporation’s global headquarters.
Bedeviled by the pandemic-induced slowdown in the lodging industry, hotels in the Twin Cities continue to sell at a bargain-basement price.