Midas Hospitality Acquires Milwaukee Aloft for $26.5M
St. Louis-based Midas Hospitality acquired the 160-room Aloft Milwaukee Downtown for $26.5 million. The hotel development, management and investment firm operates one other hotel in Wisconsin, the Aloft Green Bay.
The Aloft Milwaukee Downtown is located along the Milwaukee River. The five-story hotel features more than 5,000 square feet of meeting space, a bar, a fitness center, an indoor pool and a grab-and-go shop.
The property marks the third hotel the company has acquired through the Midas Hotel Fund. So far, the fund has deployed $25 million, $10 million for the Aloft Milwaukee Downtown and $15 million for the co-located Residence Inn by Marriott and Fairfield Inn & Suites by Marriott Charlotte (N.C.) Airport.
"Our investors are very pleased with the first investments and our strategic pursuit of new acquisitions and development projects," J.T. Norville, Midas Hospitality's co-founder and managing partner, said in a statement. "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."
Midas Hospitality operates 35 properties with more than 4,000 rooms across 14 states.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
