May 5, 2013

MHA Nation invests in Bismarck hotel project

MHA Nation invests in Bismarck hotel project
The Mandan/Hidatsa/Arikara (MHA) Nation is the lead investor in new hotel project planned for Bismarck.
The tribe, headquartered at Four Bears, ND, has provided the equity commitment necessary to proceed with development and construction of a hotel on the campus of United Tribes Technical College.
The United Tribes of North Dakota Board of Directors approved the financing structure March 26, accepting the equity investment of the MHA Nation in a facility estimated to cost approximately $33 million. MHA Nation is one of the college’s five governing tribes.
“The MHA Nation feels it’s a good opportunity to be involved with a franchise name-brand hotel on the UTTC campus,” said Tex G. Hall, MHA Nation chairman. “And with UTTC near the Bismarck airport, it makes great business sense. It’s the kind of investment the tribe is looking for.”
Other tribal investors are also being invited in, said David M. Gipp, United Tribes Technical College president. “It’s open to other area investors too, although we’re looking to create a program funded primarily by Native or Tribal investors.”
The hotel site is located in the northwest corner of the United Tribes campus, just off University Drive adjacent to the Bismarck International Airport.
 


The Weather Network