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| Contact Tom | |||||||||||||
| A Message From Tom Torgerson Tom Torgerson Summarizes TPI's Strategic Planning and Growth |
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 In
this Newsletter Mitch shares with you how we have taken great strides to
strengthen our Operations Team. That, along with the continued strength of
our entire Willmar Administration Team, allows me to focus more on our
strategic planning and growth for the Company. That leaves me wanting to
talk to you about what we have on the horizon for new projects.Our current project under construction is the Courtyard by Marriott Arbor Lakes, a $17,000,000 project which is scheduled to open January 3, 2008. Shortly after the Courtyard opens, we plan to break ground on the Homewood Suites by Hilton in St Louis Park. The St Louis Park Homewood Suites is a $19,000,000 project and will begin construction in March of 2008. The  most
recent addition to our development pipeline is the Homewood Suites by Hilton
in New Brighton. Our plans are to break ground for construction on this
newest project in May of 2008.The Homewood Suites in New Brighton will be located on I-35W in the north Minneapolis metro just north of the I-694 interchange. It is actually in close proximity to our Hilton Garden Inn and Hampton Inn of Shoreview, being about three miles away. The property will be a four-story, 125-suite hotel with a prototype Homewood Suites architectural plan which allows us to expedite the development timeline versus designing a signature building. This $17,000,000 project will serve the emerging or exploding upscale extended stay demand in the north central metro market.  Earlier
this year we opened the Holiday Inn Hotel & Suites Arbor Lakes with the
Venetian Indoor Water Park. I am happy to report that it is being very well
received in the marketplace and its business, after a relatively slow start,
is now ramping up very impressively. We also just put the finishing touches
on the major redo of the Holiday Inn of Fairmont along with the addition of
a Green Mill Restaurant and Bar. The finished project not only looks great,
but the numbers are looking great as well. And, in July we shut down the bar
at the Green Mill in Willmar and did a major renovation. Since reopening in
August, revenues there are trending up between 50% to 100% over previous
levels. Needless to say, we have a lot going on at TPI and it couldn't happen without all our business units and Associates pulling together in the same direction to serve our guests. For me, taking care of you, all the Associates of TPI, means everything to me, thanks for all you do! TPI businesses are great places to stay, eat, and be entertained and to work. ~Tom |
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