Mille Lacs Band of Ojibwe buys two St. Paul hotels

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The Mille Lacs Band of Ojibwe has a contract to buy two of downtown St. Paul’s largest hotels as it seeks to diversify its revenue streams beyond its gaming operations.

The Crowne Plaza St. Paul Riverfront and the DoubleTree by Hilton St. Paul Downtown rank as the city’s No. 1 and No. 3 largest hotels, respectively. Combined, they account for roughly half of the full-service rooms in the downtown market.

The Minneapolis/St. Paul Business Journal first reported in August that the hotels were for…