Aloft Milwaukee Downtown Acquired by Midas Hospitality
11/25/2019
Midas Hospitality, a St. Louis hotel development, management and investment firm, recently acquired Aloft Milwaukee Downtown, which is located right on the city’s famed RiverWalk at 1230 Old World Third Street, near the Fiserv Forum, arts and theater district, and Wisconsin Center. The hotel houses 160 tech-bedecked rooms, five meeting rooms, the WXYZ bar, an outdoor space, fitness center, indoor swimming pool and more.
It’s the third hotel the company acquired due to the Midas Hotel Fund, which has raised $25 million in capital thus far, according to Hotel Online. Midas Hospitality presently runs another Wisconsin property as well — the Aloft Green Bay.
“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,” said J.T. Norville, Midas Hospitality’s co-founder and managing partner. “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.”
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