Mille Lacs Corporate Ventures, the business arm of the Mille Lacs Band and owners of the Grand Casino Mille Lacs and Grand Casino Hinckley, recently announced it has purchased the DoubleTree by Hilton Minneapolis Park Place Hotel in St. Louis Park, Minnesota. The purchase represents the fourth hotel acquired by MLCV in three years.
The 297-room DoubleTree by Hilton Minneapolis Park Place is strategically located near the Minneapolis Convention Center, Target Center, Target Field and the Viking’s new U.S. Bank Stadium. It adds the Dover Restaurant Bar & Grill plus 26,000 square feet of event space to MLCV’s offerings.
MLCV Chief Executive Officer Joe Nayquonabe Jr. said, “When we look at investments, we look for properties that will perform well from day one, and that have a significant long-term upside for our shareholders. We are more than pleased with the financial strength of this hotel. It outperforms its competitive set and is a great addition to our portfolio of exceptional hospitality assets.”
MLCV also recently completed an extensive renovation of its former Crowne Plaza in Saint Paul into the luxury InterContinental Saint Paul Riverfront Hotel, the first IHG hotel in the state.
MLCV also owns Embassy Suites Oklahoma City and 2020 Brand Solutions, plus a cinema, grocery store, gas/convenience stores, a golf course, wastewater treatment plant and print shop. It has more than 3,500 employees.
