Research Monthly report
Wisconsin hotel market update, January 2026
- Wisconsin
Wisconsin hotels ran 54.67% occupancy at a $130.38 ADR over the last twelve months, RevPAR +4.1%. 2 hotels sold and 13 new hotels are in the works.
Wisconsin's hotel market for January 2026 and the 2025 year-end: 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
54.67%
ADR, trailing 12 months
$130.38
RevPAR, trailing 12 months
$71.28
+4.1% year over year
RevPAR, Dec '25 vs Dec '24
+9.6%
Luxury and upper upscale +11.4%
Performance
As we move one month into 2026, all STR data reflects 2025 year-end performance. Based on hotel sales, listings, and underwriting activity over the past year, several clear trends have emerged. RevPAR growth varied meaningfully by scale, with a notable divergence across segments. Statewide metrics reflect performance across all STR-reporting hotels in Wisconsin. However, the majority of RevPAR growth was concentrated in the Upper Upscale and Luxury segments. In contrast, Upper Midscale hotels lagged overall, posting the weakest RevPAR performance, with ADR actually declining.
Across every Wisconsin hotel, the trailing twelve months averaged 54.67% occupancy, a $130.38 ADR and $71.28 RevPAR, with RevPAR +4.1% on the year before.
RevPAR for Dec '25 was +9.6% against Dec '24. Luxury and upper upscale hotels did best at +11.4%; upper midscale hotels were at +8.8%.
| Scale | T-12 Occ | T-12 ADR | T-12 RevPAR | RevPAR, year over year | RevPAR, Dec '25 vs Dec '24 |
|---|---|---|---|---|---|
| All hotels | 54.67% | $130.38 | $71.28 | +4.1% | +9.6% |
| Luxury & Upper Upscale | 60.81% | $209.64 | $127.48 | +6.0% | +11.4% |
| Upper Midscale | 57.88% | $126.59 | $73.28 | +1.4% | +8.8% |
| Midscale & Economy | 48.48% | $91.09 | $44.16 | +3.0% | +11.0% |
Month by month, Wisconsin RevPAR in 2025 against 2024, through December:
All figures are from STR and run a month behind. For a specific market or scale, reach out.
Sales
| Hotel | City | Price | Note |
|---|---|---|---|
| Holiday Inn Express Madison | Madison | $14,159,000 | |
| Hampton Inn Madison | Madison | $8,500,000 |
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 January 30, 2026 |
|---|---|
| Prime rate | 6.75% |
| 10-year Treasury | 4.24% |
| 5-year Treasury | 3.81% |
New developments
Boundaries, roads and water: U.S. Census Bureau (TIGER/Line).
New hotels in Wisconsin:
- Ho-Chunk Casino & Hotel, Beloit
- TownePlace Suites, De Pere/Green Bay
- Hampton Inn, Deforest
- Springhill Suites, Fitchburg
- Tribute Portfolio Hotel, Madison
- Home 2 Suites, Madison
- Tru, Madison
- Tribute Portfolio Hotel, Milwaukee
- Adams Building, Milwaukee
- Fairfield Inn & Suites, Racine
- Cobblestone, Waukesha
- Kalahari Treehouse Collection, Wisconsin Dells
- Dellshire Resort, Wisconsin Dells
Another 58 hotels have been proposed. Call or email to learn more about any of them.
Other developments that bring travelers:
- Microsoft AI Datacenter Campus, Mount Pleasant
- Foxconn AI Server Manufacturing Expansion, Mount Pleasant
- QTS Data Centers Mega-Campus, DeForest (Dane County)
- "Lighthouse" Stargate Data Center Campus (OpenAI / Oracle / Vantage), Port Washington
- River Point District Mixed-Use Redevelopment, La Crosse
- Wilden Portfolio Park Mixed-Use Campus, Appleton
- HSHS St. Mary's Hospital Campus Transformation, Green Bay
- ThedaCare Medical Center, Oshkosh Health Campus: Oshkosh
- UW Health University Row Medical Center & East Madison Hospital Expansion, Madison
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.