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Research Monthly report

Minnesota hotel market update, May 2026

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

  • Minnesota

Minnesota hotels ran 57.09% occupancy at a $134.29 ADR over the last twelve months, RevPAR +3.07%. 4 hotels sold and 9 new hotels are in the works.

Minnesota's hotel market for May 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

57.09%

ADR, trailing 12 months

$134.29

RevPAR, trailing 12 months

$76.66

+3.07% year over year

Performance

Across every Minnesota hotel, the trailing twelve months averaged 57.09% occupancy, a $134.29 ADR and $76.66 RevPAR, with RevPAR +3.07% on the year before.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over year
All hotels57.09%$134.29$76.66+3.07%
Luxury & Upper Upscale58.58%$199.62$116.94+2.46%
Upper Midscale60.74%$128.85$78.27+3.57%
Midscale & Economy50.41%$92.75$46.76+1.72%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $134.29Luxury & Upper Upscale · ADR: $199.62Upper Midscale · ADR: $128.85Midscale & Economy · ADR: $92.75All hotels · RevPAR: $76.66Luxury & Upper Upscale · RevPAR: $116.94Upper Midscale · RevPAR: $78.27Midscale & Economy · RevPAR: $46.76$134.29$199.62$128.85$92.75$76.66$116.94$78.27$46.76$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $134.29Luxury & Upper Upscale · ADR: $199.62Upper Midscale · ADR: $128.85Midscale & Economy · ADR: $92.75All hotels · RevPAR: $76.66Luxury & Upper Upscale · RevPAR: $116.94Upper Midscale · RevPAR: $78.27Midscale & Economy · RevPAR: $46.76$134.29$199.62$128.85$92.75$76.66$116.94$78.27$46.76

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$134.29$76.66
Luxury & Upper Upscale$199.62$116.94
Upper Midscale$128.85$78.27
Midscale & Economy$92.75$46.76
RevPAR change by scale
0%1%2%3%4%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 3.07%Luxury & Upper Upscale · Trailing 12 months: 2.46%Upper Midscale · Trailing 12 months: 3.57%Midscale & Economy · Trailing 12 months: 1.72%3.07%2.46%3.57%1.72%0%1%2%3%4%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 3.07%Luxury & Upper Upscale · Trailing 12 months: 2.46%Upper Midscale · Trailing 12 months: 3.57%Midscale & Economy · Trailing 12 months: 1.72%3.07%2.46%3.57%1.72%

Source: STR, one-month reporting lag

Trailing 12 months
All hotels3.07%
Luxury & Upper Upscale2.46%
Upper Midscale3.57%
Midscale & Economy1.72%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $48.7Feb · 2025: $56.3Mar · 2025: $60.7Apr · 2025: $67.5May · 2025: $78.0Jun · 2025: $96.2Jul · 2025: $102.9Aug · 2025: $99.4Sep · 2025: $90.8Oct · 2025: $86.3Nov · 2025: $59.9Dec · 2025: $53.3Jan · 2026: $57.6Feb · 2026: $60.1Mar · 2026: $63.8Apr · 2026: $70.8$0$50$100$150JanMarMayJulSepNovJan · 2025: $48.7Feb · 2025: $56.3Mar · 2025: $60.7Apr · 2025: $67.5May · 2025: $78.0Jun · 2025: $96.2Jul · 2025: $102.9Aug · 2025: $99.4Sep · 2025: $90.8Oct · 2025: $86.3Nov · 2025: $59.9Dec · 2025: $53.3Jan · 2026: $57.6Feb · 2026: $60.1Mar · 2026: $63.8Apr · 2026: $70.8

values read from the CoStar chart in the original email

Source: CoStar, as of May 26, 2026

20252026
Jan$48.7$57.6
Feb$56.3$60.1
Mar$60.7$63.8
Apr$67.5$70.8
May$78.0
Jun$96.2
Jul$102.9
Aug$99.4
Sep$90.8
Oct$86.3
Nov$59.9
Dec$53.3

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

Sales

HotelCityPriceNote
The Saint Paul HotelSt. Paul$18,000,000
AmericInn Mounds ViewMounds View$3,730,000
Norwood Inn RosevilleRoseville$3,400,000
Fairfield Inn DuluthDuluth$10,300,000

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 May 27, 2026
Prime rate6.75%
10-year Treasury4.481%
5-year Treasury4.170%

New developments

This month's new hotels and sales
St. PaulMounds ViewRosevilleDuluthSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoMinnesotaSt. PaulDuluthSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoNDSDWISt. PaulMounds ViewRosevilleDuluthSartellAlexandriaMountain LakeMonticelloMinneapolisMankatoMinnesotaSt. PaulDuluthSartellAlexandriaMountain 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
  • The Lakeview Guesthouse, Duluth
  • Fairfield Inn & Suites, Monticello
  • The West Hotel, Minneapolis North Loop
  • Element, Mankato
  • AC Hotel, Mankato
  • Roami at Century Plaza, Just Opened

Another 33 hotels have been proposed. Call or email to learn more about any of them.

Tools

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