After a record year in 2015, the Minneapolis/St. Paul hotel market is highly active. Many buyers and institutions are continuing to aggressively seek existing product and land for hotel development. With the competitive environment in Minneapolis/St. Paul and other larger markets in the region, buyers and developers continue to seek out opportunities in secondary and tertiary markets.
According to Ronn Thomas of Cushman & Wakefield NorthMarq, “The continued demand for quality assets is causing owners to contemplate selling. Sales expectations are high for the second half of the year.”
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Ronn Thomas is a Senior Director in the Capital Markets Hospitality Group.