This was announced in yesterday's (Wednesday, July 17, 2019) print edition of the StarTribune (not a direct quote but a summary):

The 1929 Rand Tower building at Marquette and 6th in downtown Minneapolis is being converted/renovated at a cost of $86,000,000 to become aTributre by Marriott hotel with 277 rooms and suites. It's expected to open in December 2020 and will include a restaurant, bar, and 2,135 sq ft fifth floor rooftop patio (bar) with a retractable glass roof in the annex. The developer is Marven Real Estate Partners. The building is connected to the skyway system and will remain so during construction. It's listed on the National Register of Historic Places.

Oxford Capital Group will manage the hotel. They are responsible for the Langham Chicago and the LondonHouse Chicago, while this property will resemble with its modernist design. It will enter the market as a four and a half star property, so that its obvious competitors would be Hotel Ivy (LC, legacy Starwood which opened just before the 2008 RNC) and the Four Seasons which is planned for 2021.