Research Monthly report
Minnesota hotel market update, February 2026
- Minnesota
Minnesota hotels ran 56.67% occupancy at a $134.67 ADR over the last twelve months, RevPAR +1.51%. 1 hotel sold and 9 new hotels are in the works.
Minnesota's hotel market for February 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
56.67%
ADR, trailing 12 months
$134.67
RevPAR, trailing 12 months
$76.32
+1.51% year over year
RevPAR, Jan '26 vs Jan '25
+17.40%
Upper midscale +23.37%
Performance
Across every Minnesota hotel, the trailing twelve months averaged 56.67% occupancy, a $134.67 ADR and $76.32 RevPAR, with RevPAR +1.51% on the year before.
RevPAR for Jan '26 was +17.40% against Jan '25. Upper midscale hotels did best at +23.37%; midscale and economy hotels were at +3.38%.
| Scale | T-12 Occ | T-12 ADR | T-12 RevPAR | RevPAR, year over year | RevPAR, Jan '26 vs Jan '25 |
|---|---|---|---|---|---|
| All hotels | 56.67% | $134.67 | $76.32 | +1.51% | +17.40% |
| Luxury & Upper Upscale | 58.82% | $198.15 | $116.56 | +0.74% | +19.77% |
| Upper Midscale | 60.66% | $126.65 | $76.82 | +1.77% | +23.37% |
| Midscale & Economy | 51.52% | $90.84 | $46.80 | +2.30% | +3.38% |
Month by month, Minnesota RevPAR in 2026 against 2025, through January:
All figures are from STR and run a month behind. For a specific market or scale, reach out.
Sales
| Hotel | City | Price | Note |
|---|---|---|---|
| Country Inn & Suites Fergus Falls | Fergus Falls | $4,600,000 |
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
| Rate | As of February 27, 2026 |
|---|---|
| Prime rate | 6.75% |
| 10-year Treasury | 3.981% |
| 5-year Treasury | 3.536% |
New developments
Boundaries, roads and water: U.S. Census Bureau (TIGER/Line).
New hotels in Minnesota:
- Wyndham Garden, Sartell
- Holiday Inn Express, Alexandria
- Candlewood Suites, Mankato East: just opened
- AmericInn, Mountain Lake
- The Lakeview Guesthouse, Duluth
- Fairfield Inn & Suites, Monticello
- The West Hotel, Minneapolis North Loop
- Element, Mankato
- AC Hotel, Mankato
Another 31 hotels have been proposed. Call or email to learn more about any of them.
Other developments that bring travelers:
- Meta Hyperscale Data Center, Rosemount, MN (one of the largest known data center builds in the state)
- Apple Valley Technology Park (Proposed Data Center Campus), Apple Valley, MN (large multi-building data center proposal)
- Rural Minnesota $4B Data Center + Wind/Solar/Battery Project, Southwestern MN (plan for massive tech/energy campus)
- Downtown Minneapolis Data Center Repurposing, Minneapolis, MN (planned data center conversion project)
- Metro Blue Line Transit Extension, Hennepin County / Minneapolis Region (major transit infrastructure, ridership growth catalyst)
Tools
- Full hotel underwriting and waterfall model. Download the Excel model free. Questions or changes you'd recommend are welcome.
- A report on your hotel or market. Ask for one and we'll be in touch.
Thinking about what your hotel would sell for? Request a valuation.