P&E Advisors / transaction record, rev. July 2026
74 hotel closings.
$314.0 million in consideration.
Every closing Jake Erickson and Jared Plamann have taken across the finish line since July 2018 — listed below in full, not curated. Median deal size $4.30 million: the owner-operated, 73-hotel middle of the Upper Midwest market that most brokerage teams skip.
74
Closings
73 hotels, 1 net-leased
$314.0M
Consideration
closed sale price
5,309
Guest rooms
three counts pending
8
States
five core, three outside
$4.30M
Median closing
$0.71M–$10.18M range
Where the closings are
70 of 74 in the five-state core
WI26
MN24
IA8
ND8
SD4
IL2
OK1
WA1
■ Upper Midwest core — MN, WI, IA, ND, SD□ Outside core — IL, OK, WA
Closings per year
2018–2026
2
’18
9
’19
2
’20
4
’21
10
’22
18
’23
18
’24
9
’25
2
’26
2026 shown through February. 57 of 74 closings — 77% — have closed since January 2022.
Execution
as reported
94%
List to sale
88
Avg. days on market
7.8%
Avg. cap rate
55
Both sides represented
Brands transacted: Wyndham · Choice · IHG · Marriott · Hilton · Hyatt · Radisson · Best Western · Cobblestone · GrandStay · My Place · Independent.
Every closed transaction
chronological · keys · sale price
Jul ’18Quality Inn & Suites Mason CityIA60$2,940,000
Aug ’18Country Inn & Suites DubuqueIA69$3,035,000
Feb ’19Country Inn & Suites Fond du LacWI65$4,335,000
Mar ’19Grandstay Hotel & Suites StillwaterMN64$3,300,000
Jun ’19Tires Plus (Bridgestone)Lakeville, MN—$4,068,844
Jun ’19Best Western Plus Eau ClaireWI85$5,850,000
Jun ’19Comfort Suites O'Hare AirportSchiller Park, IL119$4,400,000
Jul ’19Country Inn & Suites Green BayWI75$4,715,000
Aug ’19Comfort Suites Johnson CreekWI100$5,850,000
Oct ’19Days Inn Johnson CreekWI45$2,400,000
Oct ’19Holiday Inn Express WatertownWI79$5,775,000
Mar ’20Holiday Inn Express MankatoMN88$9,500,100
Sep ’20Comfort Inn & Suites ChisagoChisago City, MN51$3,200,000
May ’21Cobblestone Inn & Suites MerrillWI57$1,100,000
Aug ’21Baymont and Rodeway Appleton PortfolioWI97$2,300,000
Nov ’21Baymont Inn and Suites AlbanyMN48$1,655,000
Dec ’21Cobblestone Inn & Suites BarronWI37$1,550,000
May ’22Grandstay Hotel and Suites Parkers PrairieMN33$755,000
May ’22Comfort Inn Eden Prairie - Minneapolis (Conversion to Holiday Inn Express)MN119$4,400,000
Jun ’22Hampton Inn ElkhornWI64$5,400,000
Jun ’22My Place BrookingsSD63$4,850,000
Jul ’22Quality Inn and Suites Downtown Green BayWI114$3,950,000
Jul ’22Best Western TomahWI100$5,000,000
Aug ’22Econo Lodge Duluth Near Miller Hill MallMN87$4,690,000
Oct ’22Super 8 AshlandWI70$3,900,000
Nov ’22Best Western Madison West Towne SuitesWI101$7,050,000
Nov ’22Ramada Rochester Mayo Clinic AreaMN145$6,200,000
Jan ’23Country Inn & Suites Brookings SDSD75$5,650,000
Jan ’23Country Inn & Suites EffinghamIL68$4,200,000
Feb ’23Wingate Green Bay/AirportWI80$4,100,000
Mar ’23Super 8 Fergus FallsMN32$925,000
Mar ’23Holiday Inn Express & Suites ChanhassenMN89$7,500,000
Mar ’23C'mon Inn Hotel Park RapidsMN44$3,650,000
May ’23Best Western Premier Nicollet InnBurnsville, MN131$8,650,000
Jun ’23Econo Lodge RothschildWI60$1,650,000
Jun ’23Super 8 ClarindaIA40$1,350,000
Jun ’23Holiday Inn Express & Suites NorthwoodIA60$3,600,000
Aug ’23AmericInn Baxter BrainerdMN58$3,220,000
Oct ’23Americinn BurnsvilleMN50$4,100,000
Oct ’23Hyatt OKCOklahoma City, OK126$4,900,000
Nov ’23Fairfield Inn & Suites BurlingtonIA60$4,912,500
Nov ’23Holiday Inn Express & Suites BurlingtonIA76$7,212,500
Nov ’23Wrangler InnMobridge, SD60$2,500,000
Dec ’23Hawthorn Suites MinotND136$5,000,000
Dec ’23Super 8 BerlinWI20$710,000
Mar ’24La Quinta Inn & Suites St. Paul-WoodburyMN108$9,300,000
Apr ’24Little Falls InnMN—$910,000
Apr ’24La Quinta Inn & Suites DickinsonND79$4,400,000
Apr ’24Microtel Inn & Suites West Fargo Medical CenterND88$5,700,000
Apr ’24Microtel Inn & Suites Rochester SouthMN88$4,500,000
May ’24Holiday Inn Express Devils LakeND60$4,500,000
May ’24Walker HotelMN37$1,940,000
May ’24Governor's Inn Pierre - A Travelodge by WyndhamSD78$2,850,000
May ’24Hyatt Place Milwaukee - WestWI121$5,300,000
Jun ’24Pine Grove Hotel - Door County WisconsinEphraim, WI45$4,697,500
Jul ’24Comfort Suites BurlingtonIA86$6,750,000
Jul ’24La Quinta Inn & Suites Grand ForksND83$5,100,000
Aug ’24Harbor Town Inn ManitowocWI80$3,400,000
Aug ’24MainStay Suites & Sleep Inn Spokane (Dual Brand)WA—$10,175,000
Oct ’24Cobblestone Hotel & Suites KilldeerND44$4,000,000
Nov ’24Best Western AlexandriaMN47$4,300,000
Dec ’24Cobblestone Hotel & Suites Devils LakeND65$4,600,000
Dec ’24Comfort Suites Wisconsin Dells AreaPortage, WI83$4,100,000
Jan ’25Super 8 MankatoMN60$1,700,000
Mar ’25Hyatt Place Milwaukee AirportWI99$7,750,000
Mar ’25Three Bears Resort, Ascend Hotel CollectionWarrens, WI129$4,100,000
Aug ’25AmericInn Detroit LakesMN46$3,100,000
Sep ’25Quality Inn TomahWI52$1,850,000
Oct ’25MainStay MinotND75$2,500,000
Nov ’25GrandStay Residential Suites St. CloudMN53$3,050,000
Dec ’25Country Inn & Suites Stevens PointWI72$4,400,000
Dec ’25Courtyard by Marriott Milwaukee North/Brown DeerWI122$5,025,000
Jan ’26GrandStay Hotel & Suites DelanoMN54$5,150,000
Feb ’26Quality Inn CoralvilleIA55$2,900,000
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Currently offered
P&E Advisors
Fairway Inn & Suites Mishicot (Ascend)
Mishicot, WI · 102 keys · Choice Hotels
Active — Publicly Priced
$3,300,000
Comfort Inn & Suites Weston–Wausau
Weston, WI · 60 keys · Choice Hotels
Active — Call for Offers
$4,700,000
Baymont by Wyndham Waupun
Waupun, WI · 38 keys · Wyndham
Active
$2,400,000
Comfort Inn & Suites Mason City – Clear Lake
Mason City, IA · 60 keys · Choice Hotels
Active
Offered Unpriced