Hotel Ivy in Minneapolis spent $580,000 remodeling and expanding its best room--a penthouse suite that rents for $5,000 per night.
Well-heeled guests in the two-story, 2,500 square feet space enjoy a comped bottle of Dom Perignon champagne, a fully-stocked bar and kitchen (pay extra for what is consumed), a stand-alone soaking tub, 28-ft. ceiling height in part, private balcony on the 9th floor overlooking downtown Minneapolis, 4 flat screens, bathroom mirrors with dimmable backlit illumination and Bluetooth technology, heated marble bathroom floor, and a two-person shower with two waterfall heads and six body jets.
The suite can comfortably accommodate up to 30 guests for entertaining. "It's booked almost every weekend," said Andrew Finsness, Ivy Hotel general manager. "Entertainers, couples and families on the weekends and board of directors or CEOs midweek."
The price is surprisingly firm, but guests can negotiate a bit on food and beverages, Finsness said. Food is provided by Monello, the Italian restaurant in the hotel.
I asked Finsness if $5,000 was the max that the Twin Cities market can bear. A decade ago, the St. Paul Hotel was charging $5,000 a night for its slightly smaller penthouse suite. (That penthouse is now leased year round to Wild owner Craig Leipold.) Other penthouse suites downtown will now be candidates for updating, but guests can take advantage of their comparatively bargain prices. Loews Hotel (formerly the Graves 601) Performer Suite rents for about $3,000 to $4,400 depending on the weekend. It includes a baby grand piano.
The Grand Hotel's presidential suite also includes a piano. At 3,500 square feet, it's larger than the Ivy's penthouse but rents for about $3,500. Le Meridien Chambers charges $900 to $2,000 for its 1,000 square feet "rock star" suite.
The good news for the 1 percenters? Ivy's penthouse suite is still available for Super Bowl weekend 2018.