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Research Monthly report

Minnesota hotel market update, July 2026

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

  • Minnesota

Minnesota hotels ran 57.41% occupancy at a $135.97 ADR over the last twelve months, RevPAR +3.96%. 3 hotels sold and 7 new hotels are in the works.

Minnesota's hotel market for July 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

57.41%

ADR, trailing 12 months

$135.97

RevPAR, trailing 12 months

$78.06

+3.96% year over year

Performance

Across every Minnesota hotel, the trailing twelve months averaged 57.41% occupancy, a $135.97 ADR and $78.06 RevPAR, with RevPAR +3.96% on the year before.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over year
All hotels57.41%$135.97$78.06+3.96%
Luxury & Upper Upscale58.91%$199.95$117.79+3.91%
Upper Midscale61.12%$129.43$79.11+4.63%
Midscale & Economy50.48%$93.08$46.99+1.14%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $135.97Luxury & Upper Upscale · ADR: $199.95Upper Midscale · ADR: $129.43Midscale & Economy · ADR: $93.08All hotels · RevPAR: $78.06Luxury & Upper Upscale · RevPAR: $117.79Upper Midscale · RevPAR: $79.11Midscale & Economy · RevPAR: $46.99$135.97$199.95$129.43$93.08$78.06$117.79$79.11$46.99$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $135.97Luxury & Upper Upscale · ADR: $199.95Upper Midscale · ADR: $129.43Midscale & Economy · ADR: $93.08All hotels · RevPAR: $78.06Luxury & Upper Upscale · RevPAR: $117.79Upper Midscale · RevPAR: $79.11Midscale & Economy · RevPAR: $46.99$135.97$199.95$129.43$93.08$78.06$117.79$79.11$46.99

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$135.97$78.06
Luxury & Upper Upscale$199.95$117.79
Upper Midscale$129.43$79.11
Midscale & Economy$93.08$46.99
RevPAR change by scale
0%1%2%3%4%5%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 3.96%Luxury & Upper Upscale · Trailing 12 months: 3.91%Upper Midscale · Trailing 12 months: 4.63%Midscale & Economy · Trailing 12 months: 1.14%3.96%3.91%4.63%1.14%0%2%4%6%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 3.96%Luxury & Upper Upscale · Trailing 12 months: 3.91%Upper Midscale · Trailing 12 months: 4.63%Midscale & Economy · Trailing 12 months: 1.14%3.96%3.91%4.63%1.14%

Source: STR, one-month reporting lag

Trailing 12 months
All hotels3.96%
Luxury & Upper Upscale3.91%
Upper Midscale4.63%
Midscale & Economy1.14%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $49.2Feb · 2025: $56.8Mar · 2025: $60.8Apr · 2025: $68.2May · 2025: $78.9Jun · 2025: $97.1Jul · 2025: $103.7Aug · 2025: $100.7Sep · 2025: $92.7Oct · 2025: $88.0Nov · 2025: $60.8Dec · 2025: $54.2Jan · 2026: $57.8Feb · 2026: $60.8Mar · 2026: $64.5Apr · 2026: $71.9May · 2026: $77.8Jun · 2026: $104.6$0$50$100$150JanMarMayJulSepNovJan · 2025: $49.2Feb · 2025: $56.8Mar · 2025: $60.8Apr · 2025: $68.2May · 2025: $78.9Jun · 2025: $97.1Jul · 2025: $103.7Aug · 2025: $100.7Sep · 2025: $92.7Oct · 2025: $88.0Nov · 2025: $60.8Dec · 2025: $54.2Jan · 2026: $57.8Feb · 2026: $60.8Mar · 2026: $64.5Apr · 2026: $71.9May · 2026: $77.8Jun · 2026: $104.6

values read from the CoStar chart in the original email

Source: CoStar, as of July 28, 2026

20252026
Jan$49.2$57.8
Feb$56.8$60.8
Mar$60.8$64.5
Apr$68.2$71.9
May$78.9$77.8
Jun$97.1$104.6
Jul$103.7
Aug$100.7
Sep$92.7
Oct$88.0
Nov$60.8
Dec$54.2

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

Sales

HotelCityPriceNote
Fairfield Inn MankatoMankato$3,082,000
Country Inn & Suites Detroit LakesDetroit Lakes$2,900,000
Super 8 Red WingRed Wing$2,080,000

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

RateAs of August 3, 2026
Prime rate6.75%
10-year Treasury4.692%
5-year Treasury4.403%

New developments

This month's new hotels and sales
MankatoDetroit LakesRed WingSartellAlexandriaMountain LakeMonticelloMinneapolisMinnesotaMankatoDetroit LakesRed WingSartellAlexandriaMountain LakeMonticelloMinneapolisNDSDWIMankatoDetroit LakesRed WingSartellAlexandriaMountain LakeMonticelloMinneapolisMinnesotaMankatoDetroit LakesRed WingSartellAlexandriaMountain LakeMonticelloMinneapolis

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

New hotels in Minnesota:

  • Wyndham Garden, Sartell
  • Holiday Inn Express, Alexandria
  • AmericInn, Mountain Lake
  • Fairfield Inn & Suites, Monticello
  • The West Hotel, Minneapolis North Loop
  • Element, Mankato
  • AC Hotel, Mankato

On Element, Mankato and AC Hotel, Mankato: I'm unsure what's happening with these. At the minimum it looks like there has been a pause in construction.

Another 36 hotels have been proposed. Call or email to learn more about any of them.

Tools

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