Mille Lacs Corporate Ventures Buys Embassy Suites Oklahoma City
- Dec 01, 2014
By Ioana Neamt, Associate Editor
In an attempt to further diversify its business holdings and strengthen the tribal economy, Mille Lacs Corporate Ventures has purchased the 236-key Embassy Suites Oklahoma City. Denver-based Greenwood Hospitality Group has been selected to manage the property.
“We are excited to enter the Oklahoma City market with one of the strongest-performing hospitality assets,” said Joseph Nayquonabe, CEO of Mille Lacs, which is sponsored by the Mille Lacs Band of Ojibwe. “The quality of the suites and the proximity to key attractions around the city position this hotel for exceptional performance.”
Located at 1815 South Meridian in Oklahoma City, the Embassy Suites hotel is part of a chain of upscale, all-suite hotels trademarked by Hilton Worldwide and independently owned and operated. PropertyShark reports that the 195,412-square-foot hotel was built in 1983 and is valued at approximately $11 million.
The hotel consists of 236 two-room suites with a Western-style design, a six-story atrium, 9,968 square feet of meeting space, business center, fitness center, indoor heated pool, gift shop. Amenities include laundry and valet service, high-speed wireless internet access, flat screen TVs, room service, microwave, coffee maker, refrigerator, and the property is also pet-friendly.
The Embassy Suites Oklahoma City hotel is located about six miles from attractions such as the Myriad Botanical Gardens, the Oklahoma City Museum of Art, the Oklahoma City National Memorial and Museum, Chicksaw Bricktown Ballpark, the Chesapeake Energy Arena, and Will Rogers World Airport.
“We’re very pleased to add the Embassy Suites Oklahoma City to our growing portfolio and we look forward to discovering our next great opportunity,” said Nayquonabe.
Other recent real estate acquisitions by Mille Lacs Corporate Ventures include 2020 Brand Solutions, the Crowne Plaza St. Paul Riverfront hotel and the DoubleTree by Hilton in St. Paul, Minn.
Images courtesy of www.embassysuitesoklahomacity.com