St. Louis hotel developer raises $25 million in capital.
ST. LOUIS, MO. – Midas Hospitality has acquired its third hotel through the Midas Hotel Fund as the total capital raised reaches $25 million to date.
Midas Hospitality – a leading hotel development, management and investment firm – recently acquired Aloft Milwaukee Downtown, which is ideally situated directly on the RiverWalk. This “different by design” hotel from Marriott is located at 1230 Old World Third St. and offers 160 tech-forward rooms with five meeting rooms and amenities that include the W XYZ bar, a backyard outdoor space, fitness center and indoor swimming pool.
The Milwaukee hotel is adjacent to Fiserv Forum and is near the Arts and Theater District, as well as the Wisconsin Convention Center. Midas Hospitality currently operates one other property in Wisconsin, which is also an Aloft hotel, located in Green Bay.
The first two hotels the Midas Hotel Fund invested in were the Residence Inn and Fairfield Inn and Suites combined as a dual property at the Charlotte Douglas International Airport in Charlotte, NC. According to Midas Hospitality’s Co-Founder and Managing Partner J.T. Norville, “Our investors are very pleased with the first investments and our strategic pursuit of new acquisitions and development projects. The Milwaukee hotel aligns perfectly with our portfolio based upon brand, location and the opportunity to leverage our strengths and improve the hotel’s overall performance.”
Norville added, “The Midas Hotel Fund is designed to create a distinct and diversified hotel portfolio to investors. We’re actively pursuing multiple opportunities, and there is still an opportunity for new investors to participate.”
Founded in 2006, Midas Hospitality specializes in the development, management and investment of award-winning hotel properties across the U.S. The firm focuses on select-service and extended-stay experiences for global brands including Hilton, Marriott and IHG. Midas’ headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, MO.
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