SOURCE: Graves Hospitality

Graves Hospitality

September 29, 2016 12:13 ET

Graves Hospitality Breaks Ground on Moxy Uptown, the First Hotel in Uptown Minneapolis

Six-Story, 124-Room Hotel Is Slated to Open in Fall 2017

MINNEAPOLIS, MN--(Marketwired - Sep 29, 2016) - Graves Hospitality (GH) announced today that it has broken ground on the Moxy Uptown, the first hotel property in the Uptown neighborhood of Minneapolis. The six-story, 124-room, select-service hotel is targeted to open in fall 2017. GH is one of a few exclusive companies designated by Marriott International Inc. as a developer and operator for the experiential brand Moxy Hotels.

"We're doing more than breaking ground here," said Benjamin Graves, president and CEO of Graves Hospitality. "This is a new era in Minneapolis -- one that focuses on delivering culturally-enriched lifestyle experiences for guests who seek out vibrant neighborhoods." He explained that the Moxy Uptown is part of a bold new hotel franchise by Marriott Hotels that combines stylish design, approachable service and an affordable price for next Gen travelers and locals. With exceptionally efficient, smartly-designed rooms and dynamic, engaging public spaces for work and play, the Moxy Uptown will feature the amenities today's free-spirited traveler expects, including all-day retail, a full service bar (which doubles as the check-in desk), and a game room. Plans include a first floor lobby restaurant and bar that interface with the streetscape, creating seamless social engagement between interior and exterior.

Renderings, created by Collage Architects, of St. Paul, showcase a stunning 48,000 square foot, brick and metal-clad building. Interior design themes play strongly on the unique history of the Uptown neighborhood, including its significant role in the Minneapolis music scene. The hotel will be located two blocks east of Calhoun Square, on the site of a former two-story building and parking lot. Uptown is a well-known destination for both boutique and big-brand shopping, a multitude of entertainment options, exceptional restaurants, and outdoor activities at the nearby lakes and parks. Strategically situated on Emerson Avenue and Lake Street, the Moxy Hotel provides a vital connection point between the lively Uptown and Lyn-Lake neighborhoods.

"The Moxy is uniquely positioned for leisure travelers -- we call them 'fun-hunters' -- who appreciate all the great amenities both within and mere steps from the hotel," Graves said. "Additionally, modern-day business professionals want to stay where the action is and travel to work as opposed to staying in a business core and traveling for their recreation."

Over the past 35 years GH has developed and managed more than 100 hotels and restaurants, as well as residential and commercial developments and has become known for its ability to identify up-trending neighborhoods and to contribute to their continued revitalization with relevant, authentic and demographically-tailored projects. GH established itself as an industry leader in the lifestyle hospitality sector after developing and managing the first full-service hotel in Williamsburg, Brooklyn. In the Twin Cities alone, GH has developed and managed 10 projects, four of which are currently in the construction stage.

Reuter Walton will serve as the construction company for the Moxy Uptown Hotel, while Värde Partners will serve as the institutional capital investor. Both companies, along with GH, are locally-based in the Twin Cities. The project was approved by the Minneapolis Planning Commission on February 8, 2016.

Moxy Hotels first launched in Milan in September 2014. Moxy Tempe and Moxy Munich Airport opened in March 2016, followed by Moxy New Orleans in May 2016 and Moxy Frankfurt Eschborn in August 2016. The brand is entering the U.S. market in a bold way, with several additional identified projects slated for major metropolitan locations including New York City, San Francisco, Seattle, Chicago, Berlin, Oslo, Aberdeen, and London. The brand intends to offer a portfolio of nearly 150 hotels around the world within the next ten years.

Note: Rendered images are available upon request.

About Graves Hospitality
Graves Hospitality turns ideas into action and Real Estate into enterprise. GH offers a comprehensive range of development and management services adeptly tailored to answer the unique needs of independent and branded hotels, resorts and restaurants as well as residential and commercial projects. The company's development skills and management services, including sales, marketing, distribution, human resources and accounting, are honed by over 35 years of continued success. Consistently recognized as an industry leader, GH has developed and managed more than 100 hotels and restaurants, as well as residential and commercial developments. GH is passionate about providing owners, guests and associates with an unparalleled level of service and expertise. Partnering with smart, creative and sincerely enjoyable people and then fiercely maintaining those relationships, results in a positive synergy that naturally fosters success. GH takes great pride in being able to identify, develop, build and manage projects that create great profits for our investors. To learn more information about GH visit www.graveshospitality.com.

About Värde Partners
Värde Partners is a $11 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, residential mortgages, specialty finance, transportation and infrastructure. The Firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs 220 people with main offices in Minneapolis, London and Singapore.

About Moxy Hotels
Moxy Hotels is Marriott International's new millennial-focused brand that debuted in September 2014 with the opening of the Moxy Milan. A boutique-hotel concept for the next-Gen traveler, Moxy is a fresh and innovative brand combining stylish design and approachable service at an affordable price point. With tech-enabled rooms, vibrant lobby spaces and warm, modern service, Moxy aims to surprise travelers with a thoughtful, spirited and fun guest experience. To learn more about Moxy Hotels, visit www.MoxyHotels.com.

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