Every once in a while I hear about hotels in Minnesota that are for sale or see listings. I thought it would be interesting to just list a few of them so our readers can see what is out there and how they are being described. None of these were told to me in confidence, they are all a matter of public record in classified ads or other public documents or listings. Maybe you'll recognize some of them as I'm only going to tell you what the ads and rumors say.

"145+ rooms/suites Super 8 motel in Mall of America I-494 - International Airport market with 40 million visits per year."

If you can't figure out which hotel this is - don't read any further!

"130 unit limited service property which generated about $1,010,000 in rooms for 1994. Property has several mini-suites with kitchenettes. Located next to popular restaurant and lounge. Guest room renovations, lobby and public area renovated. New breakfast and vending area.

All within last three years." I wonder why they don't know what revenues were in 1995, yet? Or was it a typo?

"100+ room Comfort Inn including 14 suites. Built in 1993. Meeting room, continental breakfast area with full kitchen, and indoor pool area with hot tub and sauna."

"95+ unit Best Western in Minneapolis metro market. Upgraded. Revenue increasing."

Is it increasing enough to justify the upgrade and the $20,000 per room asking price?

"90 units located just off busy interstate in a wealthy Southern suburb of Minneapolis and St. Paul, just fifteen minutes from the popular Mall of America. The area is very conducive to business and the property attracts a broad base of clientele for steady business. The suites contribute significantly to revenues. Regular room revenue was under performing but with franchise in place Dec '95, the revenues should climb. Asking $4,200,000. The property is full service combining a restaurant and lounge, indoor pool and meeting/banquet rooms. The property is maintained well and new franchise compliance late '95."

"80 unit franchisable new motel and marina on major Midwest lake. Close to Casino. 55% of replacement cost. Opportunity for resort owner/developer!"

Is it worth 55% of replacement cost? Would one replace it? Why aren't we hearing about revenues?

"60 room located just off Interstate in popular tourist area. Converted to a Days Inn two years ago. Added an indoor pool last year. Revenues are up almost 10% this year so owner predicts a $50K increase for the year. Priced at 2.5X rooms, this is an excellent owner operator opportunity. Seller motivated to trade into a larger property."

"28 units just one hour from St. Paul/Minneapolis. Full size owner's home and located in Mississippi river valley area. Strong established business. Outdoor pool, rec. room and area activities make for excitement. Property includes two rental apartments and a rental house for extra year round income. Very good High quality maintained condition. Beautiful Lake Pepin location is close to the largest marina on the upper Mississippi and most rooms have a view of the valley."

"19 units, unique property located in one of the top micropolitan cities in the country. Very good cash flow for an owner operator. AAA property doing over $9,000/unit. Includes 1 bedroom living quarters. 70% occupancy, $35 ADR."

Micropolitan? That's a new one!

Another hotel which is for sale as a matter of public record is the Holiday Inn Express (formerly Sunwood Inn) in Bandana Square in Saint Paul.

So where do you go to buy or sell these types of hotels in Minnesota? Talk to these three brokerage companies which specialize in hotels and motels: Roger Hoy, Capital Companies (449-4455); Bo Schiller and Jeff Westgor, Westgor & Associates (835-9575); and Motels by Gudim (464-8112). All are in the Twin Cities area.