The residential-style hotel is designed primarily for extended-stay business travelers. The property features studio suites and penthouse suites. Each suite has a fully equipped kitchen with refrigerator, stove, microwave, dishwasher and coffee maker along with a separate living room area and a fireplace in select rooms.

The Eden Prairie Residence Inn will complement the two existing CSM hotels in that market. CSM did not disclose the purchase price.

"We anticipate acquiring several hotels this year, not only in our base here in Minneapolis but in other markets, as well," says Robin Kirk, President of CSM Lodging. Kirk went on to explain that CSM's plan is to completely renovate the suites and the public space of the property and to update its technology, such as adding high-speed Internet access to every suite and a business center.CSM Lodging is a division of CSM Corp., which owns and operates Marriott, Hilton and Country Inn hotels. It currently owns 32 hotels across the US.