Gilbert buys Courtyard by Marriott, adding another hotel to portfolio

The Dan Gilbert–owned Bedrock Detroit has made yet another major purchase downtown.

On Wednesday, the real estate company bought the 265-room Courtyard by Marriott hotel from a General Motors affiliate for an undisclosed amount. In November, a source told Crain’s Detroit Business that the automaker was interested in selling and looking to nab $45 million for the property.

While the hotel is part of the Millender Center complex built in 1985, the purchase did not include the 1,850-space parking deck or the tens of thousands of square feet in office and retail space in the property. There is an Applebee’s/IHOP restaurant on site that opened last year.

Andrew Leber, vice president of hospitality for Bedrock, told Crain’s that while no immediate changes are planned, there will likely be improvements made to food and beverage offerings.

This is now the second hotel in Bedrock’s portfolio—the company opened the boutique Shinola Hotel in January this year. It’s also considering adding hotels in a number of other projects, like the under-construction Hudson’s, the old Detroit Police Department, and the Book Tower and Book Building.

With tourism growing and more conventions being held in Detroit, some are saying that the city needs to add hotel rooms.