WHITESTONE COS. RECENTLY acquired the Homewood Suites by Hilton Minneapolis-Mall of America, a 144-room extended-stay hotel near Minneapolis–Saint Paul International Airport. This is Whitestone’s first investment in Minnesota and fourth Homewood Suites purchase in 18 months.
Regal Hospitality, a subsidiary of Whitestone Cos., will manage the property’s operations, the company said in a statement.
Whitestone and Regal are led by CEO Jay Batra.
“We are excited to welcome the Homewood Suites by Hilton Minneapolis-Mall of America to our portfolio,” Batra said. “The property’s strategic location, combined with the quality of the Hilton brand, makes it an attractive option for both business and leisure travelers and enhances the value for our investors.”
The property will undergo renovations, including updates to guest suites, public spaces and amenities like the indoor pool, fitness center and activity area.
“We value the flexibility of this brand, which caters to a wide variety of guests,” Batra added. “Its apartment-style living with full kitchens, complimentary breakfast, and evening receptions set it apart from most hotels in the area.”
In November 2023, Whitestone acquired TownePlace Suites by Marriott in Urbandale, Iowa, its sixth midtier extended-stay purchase in 2023. In May, Whitestone Capital and PJD Capital purchased the 152-room Holiday Inn East Mountain in Wilkes-Barre, Pennsylvania, their first joint venture. Whitestone Capital, a division of Whitestone Cos., is led by CEO Batra, while PJD Capital is headed by CEO Prakash Datwani.
