Minnesota Wild owner Craig Leipold leads a group of local business leaders and developers in the acquisition of the historic Saint Paul Hotel in downtown St. Paul.
A coalition led by Minnesota Wild owner Craig Leipold, alongside local businesses Ecolab and Securian Financial, has acquired the historic Saint Paul Hotel from Travelers Insurance. The ownership group also includes local real estate developers Jim Kelly, Carl Kaeding, and David Williams. While the purchase price was not disclosed, the new owners have confirmed that significant property improvements are scheduled to begin before the end of 2026. Planned upgrades for the 1910-built Italian Renaissance Revival landmark include renovations to all hotel rooms, a reimagined lobby, a modern fitness center, and expanded food and beverage experiences.
This investment aligns with a broader downtown revitalization effort spearheaded by the Saint Paul Downtown Alliance, which recently announced that $1.3 billion in public and private capital has been committed to city initiatives. The hotel acquisition follows separate regional investments by the leadership group, including a $30 million downtown investment fund. Local officials, including Mayor Kaohly Her, view the hotel project as a critical component of the city's ongoing efforts to bolster the downtown economy and maintain its status as a central entertainment and business hub.
Daily emails covering the projects and news that match your service area, building types, and the project stages you bid on.
Free now — first 50 founding members lock in 30% off at launch.
Free. One click to unsubscribe. No tracking pixels.