Leigh Hitz, president and chief executive officer for Denver-based Stout Street Hospitality, today announced that the company has purchased the historic Mayfair Hotel in downtown St. Louis from Chicago-based UrbanStreet. Stout Street Hospitality has closed the Mayfair for an extensive renovation and the company will reopen the rebranded hotel in early summer 2014 as Magnolia Hotel St. Louis. A total investment of $19 million will be made into the hotel between the purchase and a full property restoration.
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