Competition drives renovations at Minneapolis-St. Paul hotels

04/25/2012 | Finance and Commerce (Minneapolis)

Increased competition from new owners is pushing hoteliers in the Minneapolis-St. Paul area to upgrade their properties. "We've seen six or seven hotels trade in the last year, and in the majority the new owners made significant renovations and reflagged, giving them the opportunity for more upside on pricing," said Nate Gundrum of Mortenson Construction.

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Finance and Commerce (Minneapolis)

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