An architectural jewel in the heart of downtown Minneapolis is the latest addition to HEI Hotels & Resorts’ list of newly acquired properties. The AAA Four-Diamond Hotel Ivy, a Luxury Collection Hotel, has been purchased by a joint venture between affiliates of HEI and Monarch Alternative Capital. This is the second property purchased by this joint venture (the first being the Westin Minneapolis last October) and HEI’s fifth Luxury Collection Hotel.
This trophy lifestyle hotel was built in 2008 as an integrated part of the historic Ivy Tower, which dates back to 1930 and is listed on the National Register for Historic Places. It is conveniently connected to the city’s Skyway system and sits in a highly coveted location adjacent to the Minneapolis Convention Center and the headquarters of many of Minneapolis’ biggest employers, including Target and U.S. Bank. Hotel Ivy also holds the distinction of being the only luxury property recommended by Forbes Travel Guide in Minneapolis and boasts 136 beautifully appointed guestrooms, the 17,000-square-foot Anda Spa, a fine dining Italian restaurant and an upscale craft cocktail bar & speakeasy lounge.