Marcus & Millichap The sale of a 46 room AmericInn Detroit Lakes by Wyndham in Detroit Lakes MN has been arranged.
“After previous marketing efforts by the seller did not result in a sale, we were able to leverage the Marcus & Millichap platform to connect with qualified buyers and renew interest in the property, ultimately bringing the deal to a successful close,” said Brock Banken, associate investments, Marcus & Millichap. The new owners plan to renovate the guestrooms, public areas, and exterior. They will also take an active role in improving performance. Detroit Lakes, as a year-round tourist destination with a strong seasonal market, is well positioned for growth.
Banken, Jake Erickson and Jared Plamann, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Cwikla Hospitality LLC, and procured the buyer, Mahaveer LLC.
The hotel, built in 1995, has an indoor swimming pool, hot tub and sauna. It also offers a meeting room and a business center. The hotel sits on 3.21 acres in a high-visibility area that sees more than 37,000 vehicles a day, according to Marcus & Millichap. Detroit Lakes attracts business and leisure travellers for its fishing, hunting opportunities and the access to over 400 lakes.
Post AmericInn by Wyndham Detroit Lakes trades First on hotelbusiness.com.
