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Research Monthly report

Minnesota hotel market update, June 2026

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

  • Minnesota

Minnesota hotels ran 56.97% occupancy at a $134.93 ADR over the last twelve months, RevPAR +3.08%. 3 hotels sold and 7 new hotels are in the works.

Minnesota's hotel market for June 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

56.97%

ADR, trailing 12 months

$134.93

RevPAR, trailing 12 months

$76.86

+3.08% year over year

RevPAR, May '26 vs May '25

+0.00%

Upper midscale +2.64%

Performance

Across every Minnesota hotel, the trailing twelve months averaged 56.97% occupancy, a $134.93 ADR and $76.86 RevPAR, with RevPAR +3.08% on the year before.

RevPAR for May '26 was +0.00% against May '25. Upper midscale hotels did best at +2.64%; luxury and upper upscale hotels were at -4.27%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, May '26 vs May '25
All hotels56.97%$134.93$76.86+3.08%+0.00%
Luxury & Upper Upscale58.66%$198.96$116.71+2.58%-4.27%
Upper Midscale60.56%$129.45$78.40+2.79%+2.64%
Midscale & Economy50.35%$93.37$47.01+0.15%-4.01%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $134.93Luxury & Upper Upscale · ADR: $198.96Upper Midscale · ADR: $129.45Midscale & Economy · ADR: $93.37All hotels · RevPAR: $76.86Luxury & Upper Upscale · RevPAR: $116.71Upper Midscale · RevPAR: $78.40Midscale & Economy · RevPAR: $47.01$134.93$198.96$129.45$93.37$76.86$116.71$78.40$47.01$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $134.93Luxury & Upper Upscale · ADR: $198.96Upper Midscale · ADR: $129.45Midscale & Economy · ADR: $93.37All hotels · RevPAR: $76.86Luxury & Upper Upscale · RevPAR: $116.71Upper Midscale · RevPAR: $78.40Midscale & Economy · RevPAR: $47.01$134.93$198.96$129.45$93.37$76.86$116.71$78.40$47.01

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$134.93$76.86
Luxury & Upper Upscale$198.96$116.71
Upper Midscale$129.45$78.40
Midscale & Economy$93.37$47.01
RevPAR change by scale
-6%-4%-2%0%2%4%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 3.08%Luxury & Upper Upscale · Trailing 12 months: 2.58%Upper Midscale · Trailing 12 months: 2.79%Midscale & Economy · Trailing 12 months: 0.15%All hotels · May '26 vs. May '25: 0.00%Luxury & Upper Upscale · May '26 vs. May '25: -4.27%Upper Midscale · May '26 vs. May '25: 2.64%Midscale & Economy · May '26 vs. May '25: -4.01%3.08%2.58%2.79%0.15%0.00%-4.27%2.64%-4.01%-6%-4%-2%0%2%4%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 3.08%Luxury & Upper Upscale · Trailing 12 months: 2.58%Upper Midscale · Trailing 12 months: 2.79%Midscale & Economy · Trailing 12 months: 0.15%All hotels · May '26 vs. May '25: 0.00%Luxury & Upper Upscale · May '26 vs. May '25: -4.27%Upper Midscale · May '26 vs. May '25: 2.64%Midscale & Economy · May '26 vs. May '25: -4.01%3.08%2.58%2.79%0.15%0.00%-4.27%2.64%-4.01%

Source: STR, one-month reporting lag

Trailing 12 monthsMay '26 vs. May '25
All hotels3.08%0.00%
Luxury & Upper Upscale2.58%-4.27%
Upper Midscale2.79%2.64%
Midscale & Economy0.15%-4.01%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $48.6Feb · 2025: $56.6Mar · 2025: $60.1Apr · 2025: $67.1May · 2025: $77.7Jun · 2025: $96.0Jul · 2025: $104.0Aug · 2025: $101.1Sep · 2025: $91.1Oct · 2025: $86.5Nov · 2025: $59.7Dec · 2025: $53.3Jan · 2026: $57.4Feb · 2026: $61.0Mar · 2026: $64.3Apr · 2026: $71.1May · 2026: $77.8$0$50$100$150JanMarMayJulSepNovJan · 2025: $48.6Feb · 2025: $56.6Mar · 2025: $60.1Apr · 2025: $67.1May · 2025: $77.7Jun · 2025: $96.0Jul · 2025: $104.0Aug · 2025: $101.1Sep · 2025: $91.1Oct · 2025: $86.5Nov · 2025: $59.7Dec · 2025: $53.3Jan · 2026: $57.4Feb · 2026: $61.0Mar · 2026: $64.3Apr · 2026: $71.1May · 2026: $77.8

values read from the CoStar chart in the original email

Source: CoStar, as of June 30, 2026

20252026
Jan$48.6$57.4
Feb$56.6$61.0
Mar$60.1$64.3
Apr$67.1$71.1
May$77.7$77.8
Jun$96.0
Jul$104.0
Aug$101.1
Sep$91.1
Oct$86.5
Nov$59.7
Dec$53.3

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

Sales

HotelCityPriceNote
Econo Lodge Waite ParkWaite Park$2,450,000
Shing Wako Resort-$1,470,000
Country Inn & Suites StillwaterStillwater$4,725,000

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 June 30, 2026
Prime rate6.75%
10-year Treasury4.461%
5-year Treasury4.223%

New developments

This month's new hotels and sales
Waite ParkStillwaterSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoMinnesotaWaite ParkStillwaterSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoNDSDWIWaite ParkStillwaterSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoMinnesotaWaite ParkStillwaterSartellAlexandriaMountain LakeMonticelloMinneapolisMankato

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: I'm uncertain what the most recent plan is with these.

Another 35 hotels have been proposed. Call or email to learn more about any of them.

Tools

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