Category Archives: Hospitality

Buyers Facing Aggressive Competition for Hotels

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 … Continue reading

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Compass: Vacancy Rate Nears Record Low as CRE Market Continues to Stabilize

Cushman & Wakefield/NorthMarq releases the July 2016 edition of The Compass Report. Download the Executive Summary and get all of the details surrounding the Twin Cities commercial real estate market on the Compass website. According to Mike Ohmes, Executive Vice President … Continue reading

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Hotel Performance Metrics Near Peak Levels Driving Development and Sales

An improving economy attracted a near-record number of business and leisure travelers to Minnesota and the Twin Cities in 2015. Significant benchmarks – occupancy, revenue per available room (RevPAR) and average daily rate (ADR) – all experienced gains in the … Continue reading

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Hotel Market Anticipating Strong Development Activity

The Minnesota hotel industry, encompassing 928 properties for a total of 74,406 rooms, saw an uptick in performance in first-half 2014. Occupancy increased statewide from 54.4% in November 2013 to 57.3% in May 2014. The state is currently below the national … Continue reading

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Hotel Activity Continues in Downtown Minneapolis; Overall Market Sees Slight Occupancy Decline

The Minnesota hotel industry, encompassing 877 properties for a total of 72,488 rooms, saw a decline in performance in second-half 2013. Occupancy decreased statewide from 56.9% in May 2013 to 54.4% in November 2013. The state is still slightly below the … Continue reading

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