The historic St. Paul Hotel has been purchased by a St. Paul ownership group led by Minnesota Wild owner Craig Leipold.
The ownership group includes majority owner Leipold, Securian Financial, Ecolab Inc. and St. Paul real estate developers Jim Kelly, Carl Kaeding, and David Williams. The hotel was previously owned by Travelers Insurance.
The group plans extensive improvements, including renovating all hotel rooms, a reimagined lobby, modern fitness center and additional bar and dining options. Renovations are expected to begin before the end of the year.
“I am a true Saint Paul fan, and I’m thrilled to be able to invest in its future,” Leipold said in a statement. “The Saint Paul Hotel and Rice Park are key parts of both our history and our shared vision for a thriving entertainment district and city. It’s a privilege to purchase this hotel with Ecolab, Securian and local real estate developers and invest in the next life of this iconic building.”
City and local business leaders recently announced there has been a nearly $1.3 billion investment in downtown St. Paul properties involving public and private projects.
“It is one of the most exciting times in our city’s recent history as local businesses and leaders continue to come together to invest in a bright future for our downtown,” said St. Paul Mayor Kaohly Her in a statement. “This bold investment into one of our city’s most famous landmarks is another great example of this commitment to downtown.”
The site of the hotel was purchased in 1908 by local businessman and one of the original 3M investors, Lucius P. Ordway. The hotel featured a grand ballroom, fine dining, a roof garden and guest rooms with scenic views as part of Ordway’s vision for a luxury hotel.
The Renaissance revival-style hotel’s lobby featured palm trees, marble columns and crystal chandeliers.
The hotel’s grand opening in 1910 was attended by local railroad tycoon James J. Hill, Gov. Adolph O. Eberhart and Archbishop John Ireland.
It has hosted notable guests including Theodore Roosevelt, Gene Autry, George W. Bush and Bill Clinton. Then-presidential candidate John F. Kennedy addressed a reception of 500 in the Grand Ballroom in 1960.
The hotel closed in 1979 before reopening in 1982 thanks to a partnership between the St. Paul Port Authority and St. Paul Cos., now Travelers Insurance.
“Ecolab has been proud to call St. Paul home for more than 100 years,” said Christophe Beck, chairman, president and CEO of Ecolab, in a statement. “I believe strongly in this city’s future. This investment supports a longtime Ecolab customer and helps ensure the Saint Paul Hotel remains a cornerstone of downtown and our local community for years to come.”
Chris Hilger, Securian Financial chairman, president and CEO said the investment “reflects our confidence in downtown’s momentum and long-term potential.”
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