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Hotel-Motel

Three Bears Resort, Ascend Hotel Collection

701 Yogi Cir, Warrens, WI 54666

Listing Price: $8,500,000

Cap Rate
6.00%
Number of Rooms
122
RevPAR
$62
Gross SF
85,000
Price/Room
$69,672
RRM
3.30
Price/Gross SF
$100.00
Year Built
2005

Investment Overview

Marcus & Millichap's Hospitality Division, based in Minneapolis, has appointed Jake Erickson and Jared Plamann as the exclusive representatives for the sale of Three Bears Resort, part of the Ascend Collection, located in Warrens, Wisconsin. This resort offers a unique investment opportunity, strategically situated in central Wisconsin and easily visible from Interstate 94. The property extends over 17 acres and boasts an array of amenities tailored for families and groups looking for a year-round vacation spot. It features 93 guest rooms in the main lodge and 60 villas, although only 29 of these villas are included in the sale.

A standout investment highlight is the 60,000 square-foot indoor water park and the recent softbranding with Choice Hotels as a member of the Ascend Hotel Collection, the resort benefits from leading-edge technology, OTA agreements, and the Choice Privileges® Rewards Program, which enhance its appeal to corporate and repeat guests. Backed by the global sales, marketing, and ecommerce teams of Choice Hotels, the resort is well-positioned for increased visibility and enhanced booking potential.

Pro forma metrics forecast promising growth with occupancy rates expected to rise from 46.3% to 48.6%, average daily rate (ADR) from $134.66 to $141.40, and revenue per available room (RevPAR) from $62.29 to $68.68 over the next five years. Financial projections also anticipate an increase in rooms revenue from $2,658,685 to $3,208,537, other income from $1,648,204 to $1,681,168, and net operating income from $508,939 to $2,213,873, with the capitalization rate improving dramatically from 5.7% to 24.7%. These projections are based on current market conditions and historical performance and are not guaranteed. Potential buyers are advised to conduct thorough due diligence to verify all provided information. This partnership aims to position Three Bears Resort for long-term success and sustainable growth.

Investment Highlights

  • Unique Opportunity: One-of-a-Kind Asset in Cranberry Country.
  • Includes Mainlodge, +17 Acres, and 29 of the 60 Villas
  • Replacement Cost: Property Priced Far Below Replacement Cost.
  • Recreational Facilities: Features Include an Indoor Water Park, Outdoor Water Park, Mini-Golf, Arcade, and Extensive Meeting/Event Space.
  • Choice Ascend Reservation System: Expected to Significantly Enhance Occupancy and ADR.

Exclusively Listed By

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Senior Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Joseph Ferguson

    Senior Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Financing By

Hotel-Motel

Three Bears Resort, Ascend Hotel Collection

Listing Price: $8,500,000

Cap Rate
6.00%
Number of Rooms
122
RevPAR
$62
Gross SF
85,000
Price/Room
$69,672
RRM
3.30
Price/Gross SF
$100.00
Year Built
2005

Investment Highlights

  • Unique Opportunity: One-of-a-Kind Asset in Cranberry Country.
  • Includes Mainlodge, +17 Acres, and 29 of the 60 Villas
  • Replacement Cost: Property Priced Far Below Replacement Cost.
  • Recreational Facilities: Features Include an Indoor Water Park, Outdoor Water Park, Mini-Golf, Arcade, and Extensive Meeting/Event Space.
  • Choice Ascend Reservation System: Expected to Significantly Enhance Occupancy and ADR.

Investment Overview

Marcus & Millichap's Hospitality Division, based in Minneapolis, has appointed Jake Erickson and Jared Plamann as the exclusive representatives for the sale of Three Bears Resort, part of the Ascend Collection, located in Warrens, Wisconsin. This resort offers a unique investment opportunity, strategically situated in central Wisconsin and easily visible from Interstate 94. The property extends over 17 acres and boasts an array of amenities tailored for families and groups looking for a year-round vacation spot. It features 93 guest rooms in the main lodge and 60 villas, although only 29 of these villas are included in the sale. A standout investment highlight is the 60,000 square-foot indoor water park and the recent softbranding with Choice Hotels as a member of the Ascend Hotel Collection, the resort benefits from leading-edge technology, OTA agreements, and the Choice Privileges® Rewards Program, which enhance its appeal to corporate and repeat guests. Backed by the global sales, marketing, and ecommerce teams of Choice Hotels, the resort is well-positioned for increased visibility and enhanced booking potential. Pro forma metrics forecast promising growth with occupancy rates expected to rise from 46.3% to 48.6%, average daily rate (ADR) from $134.66 to $141.40, and revenue per available room (RevPAR) from $62.29 to $68.68 over the next five years. Financial projections also anticipate an increase in rooms revenue from $2,658,685 to $3,208,537, other income from $1,648,204 to $1,681,168, and net operating income from $508,939 to $2,213,873, with the capitalization rate improving dramatically from 5.7% to 24.7%. These projections are based on current market conditions and historical performance and are not guaranteed. Potential buyers are advised to conduct thorough due diligence to verify all provided information. This partnership aims to position Three Bears Resort for long-term success and sustainable growth.

Exclusively Listed By

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Senior Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Joseph Ferguson

    Senior Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

Financing By

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