Research Monthly report
Wisconsin hotel market update, November 2025
- Wisconsin
Hotel performance across Wisconsin continues to improve at a measured pace, driven largely by steady occupancy gains across the South, Madison, and Milwaukee markets. 1 hotel sold and 15 new hotels are in the works.
Wisconsin's hotel market for November 2025: 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.
Performance
Hotel performance across Wisconsin continues to improve at a measured pace, driven largely by steady occupancy gains across the South, Madison, and Milwaukee markets. Occupancy now ranges from 53.6% in Wisconsin South to 60.0% in Madison and 58.0% in Milwaukee, with each market posting year-over-year growth. ADR trends were mixed - Modest ADR growth in Wisconsin South (+1.8%) contrasts with slight ADR declines in Milwaukee (-2.7%), while Madison remained stable (+1.5%) - resulting in RevPAR growth of +6.6%, +2.9%, and -0.8% respectively. New supply remains limited statewide, with 740 rooms under construction in Wisconsin South, 400 in Madison, and 460 in Milwaukee, collectively representing roughly 2-3.5% of local inventories and helping maintain market balance. Overall, Wisconsin's hotel sector continues to normalize with stable demand, disciplined development, and generally steady pricing fundamentals.
Sales
| Hotel | City | Price | Note |
|---|---|---|---|
| Hampton Inn Milwaukee Airport | Milwaukee | $5,250,000 |
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 November 30, 2025 |
|---|---|
| Prime rate | 7% |
| 10-year Treasury | 4.088% |
| 5-year Treasury | 3.66% |
New developments
Boundaries, roads and water: U.S. Census Bureau (TIGER/Line).
New hotels in Wisconsin:
- Ho-Chunk Casino & Hotel, Beloit
- Dellshire Resort, Wisconsin Dells
- Hampton Inn, Manitowoc
- Fairfield Inn & Suites, Racine
- Kalahari Treehouse Collection, Wisconsin Dells
- TownePlace Suites by Marriott, De Pere
- Home2 Suites by Hilton, Madison
- SpringHill Suites by Marriott, Madison
- Hampton by Hilton, DeForest
- Tru by Hilton, Madison
- The Marc Hotel, Milwaukee
- Staybridge Suites, Wauwatosa
- Tribute Portfolio Hotel, Milwaukee
- Cobblestone Hotel, Waukesha
- The Marlow Hotel, Milwaukee
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.