On June 1, we ushered in a new era in Minneapolis’ growth as a global destination. The Four Seasons Hotel Minneapolis officially opened the doors to its 222 rooms as an anchor to the Gateway district between downtown and the Mississippi River. Its location also puts it at the doorstep of our North Loop neighborhood. The hotel is an integral part of RBC Gateway building, which houses the U.S. headquarters of RBC Wealth Management, as well as 34 private residences.
The Four Seasons launched its first hotel in 1961 in its corporate headquarters city of Toronto. Entering its sixth decade, the company now has nearly 120 properties in 47 countries.
The Minneapolis hospitality community has had many moments which propelled us into more prominence as a destination. The construction and the expansion of the Minneapolis Convention Center, and the public-private partnership that resulted in the 821-room Hilton Minneapolis, are two of those key projects. The demand and notoriety of hosting the 2008 Republican National Convention helped us develop multiple new hotel projects, including several that repurposed existing historical structures. And, more recently, U.S. Bank Stadium opened up opportunities for events that had eluded us for years.
The addition of the Four Seasons brings our total inventory to 44 hotels and nearly 10,000 hotel rooms in Minneapolis. Statistically, the addition of the Four Seasons is small. However, it is another pivotal moment in the ongoing development and marketing of our destination that allows us to expand the visitor base to our city. Travelers who may not have considered us in the past can now see all that they have been missing. Additionally, a 5-star, luxury property enhances the value of our community and will increase the rate structure and associated spending and hospitality tax generation. In essence, our entire hospitality industry benefits.
It is important to note that the Four Seasons continued development and construction despite the uncertainty of a pandemic. The Canada-based company had already made the determination that the Minneapolis market could support a luxury brand, and it is a complement to our local hospitality industry that has achieved many successes over the years.
Our Meet Minneapolis team is working closely with the Four Seasons. I know from my experience in working with the brand in other cities, over the course of my career, that we will see great success together. We look forward to the Four Seasons team joining our local hospitality industry, and to our team’s continuing work to make Minneapolis the destination of choice.