For the first time in 30 years, Traverse City’s Park Place Hotel will have local owners.

A group of Traverse City investors – led by Adam Miller, Chad Miller, Jason Granger, and Nathan Kessler – have an agreement to purchase the landmark hotel on State Street from Regency Midwest. The sale is expected to close this fall, with Traverse City commissioners approving the transfer of the hotel’s liquor licenses to the newly formed Park Place Hospitality LLC Monday. The group is hiring AHC Hospitality – formerly the Amway Hotel Corporation, which operates the iconic Amway Grand Plaza and JW Marriott hotels in Grand Rapids – to operate the property.

Adam Miller has tried to purchase the Park Place multiple times over the years. A commercial real estate developer who has co-owned or partnered on buildings ranging from 250 East Front Street to Bayview Professional Centre to the Fifth Third Bank/clock tower building on Front and Union, Miller has long personal ties to the Park Place.

“I had three proms, my first date with my wife, and our wedding there,” he says. “It’s just been a special property to us.” Miller says he and his fellow investors are all locals who “care deeply about this property and about Traverse City. Like so many people here, I have a lifetime of memories at the Park Place, and owning it is a privilege none of us take lightly.”

It’s not just his past but the Park Place’s that stirred Miller’s interest. The site originally hosted the Campbell House, which was built in 1873 and later demolished in 1929. The 10-story Park Place Hotel, the structure known to residents and visitors today, followed in 1930. “It was designed by Benjamin Marshall, the architect behind Chicago's Blackstone and Drake hotels, and for generations it has been a beacon of hospitality in this region,” explains Miller. “Our plan is to build on that legacy.”

The first step is bringing ACH Hospitality on board. Headquartered in Grand Rapids, the firm’s portfolio includes 14 hotels and resorts – the majority in Michigan – plus 35 food-and-beverage establishments and four spas/salons. ACH Hospitality is being hired to operate the 140-room Park Place, making it the company’s first foray into northern Michigan.

"The Park Place Hotel is an iconic part of Traverse City's history, and we are honored to partner with Park Place Hospitality as its management company,” AHC Hospitality Senior Vice President of Operations Nicholas Remes said in a statement to The Ticker. “At AHC Hospitality, we have built our reputation on preserving the character of historic properties while elevating the guest experience through exceptional hospitality and operational excellence. We look forward to honoring the Park Place's legacy and ensuring it remains a place where both the community and visitors continue to create lasting memories for generations to come.”

Miller is “excited about what our local team can deliver with the backing of an operator with so much experience,” he says. Plans include “improvements to the grounds and landscaping, a refreshed look and feel throughout the property, as well as expanded amenities,” plus a focus on “raising the level of service our guests receive,” Miller says.

“We're not intending to turn this into a luxury hotel,” he adds. “We want a thoughtfully designed, fully amenitized property that elevates the guest experience – a refresh worthy of the Park Place's legacy.”

While the owners have “a lot of great ideas” for improving on-site dining and drinking options, Miller declines to share details or address the future of Minervas or the Beacon Lounge. The current hotel staff will remain in place under the transition, he emphasizes. “We’re just building on what’s already in place and coming in to support them as local owners,” he says.  

When Regency purchased the property, the Park Place was emerging from one of its darkest chapters. The hotel was rescued from bankruptcy court in 1989 by Traverse City’s Rotary Club and Rotary Charities, which bought, renovated, and reopened the hotel. Regency – based in South Dakota – partnered with Milestone Hotel Investments of Minneapolis to purchase the Park Place in 1996.

Miller credits Regency for improvements in recent years, including a “great job” on its convention space and pool renovations. Regency Executive Vice President Tom Morris declined to comment on the sale until after the deal has closed, referring inquiries to the new owners.

Miller acknowledges there’s increased competition in both the lodging market overall in Traverse City and downtown, with a new Marriott Tribute Portfolio hotel opening on Garland Street and a Hilton Tapestry announced for West Front Street. But the Park Place – which has long been a profitable hotel for Regency, he notes – will target a different customer. Its convention center combined with its unique brand and history will continue to make it stand out in the market, he believes.

“It’s literally a lighthouse in Traverse City,” he says. “It’s a postcard-iconic property. How the Grand Hotel is to Mackinac Island, that’s how the Park Place feels to Traverse City.”