Marcus Hotels & Resorts, Hempel Real Estate and Robinson Park successfully complete acquisition of Loews Minneapolis Hotel
Mar 04, 2024•almost 2 years ago
Acquiring Company
Marcus Hotels & Resorts
Acquired Company
Loews Minneapolis Hotel
Description
Marcus Hotels & Resorts, in collaboration with Hempel Real Estate and Robinson Park, has announced the successful acquisition of the Loews Minneapolis Hotel. Effective immediately, the property will be rebranded as The Lofton Hotel under the Tapestry Collection by Hilton flag, marking the first Tapestry Collection hotel in Minnesota. With this acquisition, Marcus Hotels & Resorts aims to enhance the hospitality experience in downtown Minneapolis and further expand its portfolio of distinctive hotels and resorts.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed