Chartres Lodging Group recently purchased the Radisson Plaza Hotel Minneapolis with the goal of converting it into a Radisson Blu.
The San Francisco-based buyer purchased the 360-room property from Carlson Real Estate Co. for a price of $28 million.
The hotel, which has 360 guest rooms, covers 17 floors of the 37-story Plaza Seven building in Minneapolis.
Chartres’ conversion of the hotel is expected to run from $25 million to $30 million. This will mark the second Radisson Blu hotel in the Twin Cities area. The 500-room Radisson Blu Mall of America opened March 15.
To transform the Radisson Plaza Minneapolis into the Radisson Blu, Chartres will upgrade guest rooms, boost the hotel’s conference space and update the hotel’s existing restaurant, the Firelake Grill House and Cocktail Bar.