Wisconsin May Market Update

May 2026 Hospitality Market Update. For further insight into a specific market or hotel, don't hesitate to reach out:

Name: Reed Gizinski

Cell: (952) 228-4208

Email: Reed.Gizinski@marcusmillichap.com

Performance

All Hotels:

T-12 Occ Average: 55.68%

T-12 ADR Average: $129.74

T-12 RevPar Average: $72.24

YoY RevPar Change: 3.51%

Apirl '25 vs. April '26 RevPar Change: 2.37%

Luxury & Upper Upscale:

T-12 Occ Average: 62.30%

T-12 ADR Average: $212.64

T-12 RevPar Average: $132.48

YoY RevPar Change: 5.12%

April '25 vs. April '26 RevPar Change: 6.27%

Upper Midscale:

T-12 Occ Average: 58.70%

T-12 ADR Average: $126.88

T-12 RevPar Average: $74.48

YoY RevPar Change: 2.13%

April '25 vs. April '26 RevPar Change: 2.39%

Midscale & Economy:

T-12 Occ Average: 49.78%

T-12 ADR Average: $89.80

T-12 RevPar Average: $44.70

YoY RevPar Change: 3.54%

April '25 vs. April '26 RevPar Change: -0.48%

All data is sourced from STR and reflects a one-month reporting lag. For data on a specific market or scale, reach out.

Sales

• Candlewood Suites Kenosha - $10,160,000
• Candlewood Suites La Crosse - $7,650,000

Sale prices are based on public records and may not include capital allocated to FF&E or goodwill. Reach out if you want to learn more about a specific sale.

Capital Markets

Prime Rate as of 5/27/2026: 6.75%

10 Year Treasury as of 5/27/2026: 4.481%

5 Year Treasury as of 5/27/2026: 4.170%

New Developments

New Hotels

• Ho-Chunk Casino & Hotel – Beloit
• TownePlace Suites - De Pere/Green Bay
• Hampton Inn - Deforest
• The Historian Tribute Portfolio Hotel - Madison
• Tribute Portfolio Hotel - Milwaukee Downtown
• Adams Building - Milwaukee
• Cobblestone - Waukesha
• Dellshire Resort - Wisconsin Dells - JUST OPENED
• Staybridge Suites - Milwaukee/Wauwatosa
• Hotel Laureum - Milwaukee
• MainStay Suites Wisconsin Dells - This looks like a partial rebrand of the Polynesian

There are 63 additional hotels that have been proposed to be built. Email or call to learn more.

A theme that seems to keep coming up is whether to sell before or after completing a sizable PIP. A decent amount of variables come into play when trying to answer that question, including the estimated cost of the PIP, the term remaining on the franchise agreement, the liquidated damages, potential conversion opportunities due to market voids, current hotel reviews, current market penetration compared to the comp set, and the projected growth following completion.

Whether you're looking for a PIP buy vs. hold analysis, need a current valuation for an investor meeting, or are considering an exit for any reason, feel free to reach out.

Tools and Other Services

Custom Market Report

Full Hotel Underwriting & Waterfall Model

Reach out if you have any questions, or recommended changes

Hotel Data Map

I update the map on a monthly basis. The site works best on a computer.