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Research Monthly report

Minnesota hotel market update, August 2026

Reed Gizinski · hotel broker, Ruzicka Hotel Team at Marcus & Millichap

  • Minnesota

Minnesota hotels ran 56.69% occupancy at a $136.99 ADR over the last twelve months, RevPAR +3.83%. 1 hotel sold and 5 new hotels are in the works.

Minnesota's hotel market for August 2026: how hotels performed, what sold, where rates stand and what is being built. For a closer look at a specific market or hotel, ask for a report.

Occupancy, trailing 12 months

56.69%

ADR, trailing 12 months

$136.99

RevPAR, trailing 12 months

$77.67

+3.83% year over year

Performance

Across every Minnesota hotel, the trailing twelve months averaged 56.69% occupancy, a $136.99 ADR and $77.67 RevPAR, with RevPAR +3.83% on the year before.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over year
All hotels56.69%$136.99$77.67+3.83%
Luxury & Upper Upscale59.70%$198.09$118.26+3.75%
Upper Midscale61.59%$128.24$78.99+5.77%
Midscale & Economy50.62%$92.74$46.95+0.72%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $136.99Luxury & Upper Upscale · ADR: $198.09Upper Midscale · ADR: $128.24Midscale & Economy · ADR: $92.74All hotels · RevPAR: $77.67Luxury & Upper Upscale · RevPAR: $118.26Upper Midscale · RevPAR: $78.99Midscale & Economy · RevPAR: $46.95$136.99$198.09$128.24$92.74$77.67$118.26$78.99$46.95$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $136.99Luxury & Upper Upscale · ADR: $198.09Upper Midscale · ADR: $128.24Midscale & Economy · ADR: $92.74All hotels · RevPAR: $77.67Luxury & Upper Upscale · RevPAR: $118.26Upper Midscale · RevPAR: $78.99Midscale & Economy · RevPAR: $46.95$136.99$198.09$128.24$92.74$77.67$118.26$78.99$46.95

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$136.99$77.67
Luxury & Upper Upscale$198.09$118.26
Upper Midscale$128.24$78.99
Midscale & Economy$92.74$46.95
RevPAR change by scale
0%2%4%6%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 3.83%Luxury & Upper Upscale · Trailing 12 months: 3.75%Upper Midscale · Trailing 12 months: 5.77%Midscale & Economy · Trailing 12 months: 0.72%3.83%3.75%5.77%0.72%0%2%4%6%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 3.83%Luxury & Upper Upscale · Trailing 12 months: 3.75%Upper Midscale · Trailing 12 months: 5.77%Midscale & Economy · Trailing 12 months: 0.72%3.83%3.75%5.77%0.72%

Source: STR, one-month reporting lag

Trailing 12 months
All hotels3.83%
Luxury & Upper Upscale3.75%
Upper Midscale5.77%
Midscale & Economy0.72%

Month by month, Minnesota RevPAR in 2026 against 2025, through July:

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $49.2Feb · 2025: $56.9Mar · 2025: $60.7Apr · 2025: $68.1May · 2025: $78.0Jun · 2025: $96.2Jul · 2025: $103.2Aug · 2025: $99.2Sep · 2025: $91.2Oct · 2025: $87.5Nov · 2025: $60.6Dec · 2025: $53.5Jan · 2026: $57.2Feb · 2026: $60.2Mar · 2026: $64.1Apr · 2026: $71.2May · 2026: $77.4Jun · 2026: $103.5Jul · 2026: $106.9$0$50$100$150JanMarMayJulSepNovJan · 2025: $49.2Feb · 2025: $56.9Mar · 2025: $60.7Apr · 2025: $68.1May · 2025: $78.0Jun · 2025: $96.2Jul · 2025: $103.2Aug · 2025: $99.2Sep · 2025: $91.2Oct · 2025: $87.5Nov · 2025: $60.6Dec · 2025: $53.5Jan · 2026: $57.2Feb · 2026: $60.2Mar · 2026: $64.1Apr · 2026: $71.2May · 2026: $77.4Jun · 2026: $103.5Jul · 2026: $106.9

values read from the CoStar chart in the original email

Source: CoStar, as of August 31, 2026

20252026
Jan$49.2$57.2
Feb$56.9$60.2
Mar$60.7$64.1
Apr$68.1$71.2
May$78.0$77.4
Jun$96.2$103.5
Jul$103.2$106.9
Aug$99.2
Sep$91.2
Oct$87.5
Nov$60.6
Dec$53.5

All figures are from STR and run a month behind. For a specific market or scale, reach out.

Sales

HotelCityPriceNote
Value Inn & Suites Saint CloudSt. Cloud-Price not public

Sale prices come from public records and may not include capital allocated to FF&E or goodwill. Want to know more about one of these sales? Get in touch.

Capital markets

RateAs of August 31, 2026
Prime rate6.75%
10-year Treasury4.76%
5-year Treasury4.50%

New developments

This month's new hotels and sales
St. CloudSartellAlexandriaMountain LakeMonticelloMinneapolisMinnesotaSt. CloudSartellAlexandriaMountain LakeMinneapolisNDSDWISt. CloudSartellAlexandriaMountain LakeMonticelloMinneapolisMinnesotaSt. CloudSartellAlexandriaMountain LakeMinneapolis

Boundaries, roads and water: U.S. Census Bureau (TIGER/Line).

New hotels in Minnesota:

  • Wyndham Garden, Sartell
  • Holiday Inn Express, Alexandria: opended
  • AmericInn, Mountain Lake: opened
  • Fairfield Inn & Suites, Monticello
  • The West Hotel, Minneapolis North Loop

Another 38 hotels have been proposed. Call or email to learn more about any of them.

Tools

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