Investing in Wisconsin Hospitality Properties: A Guide to Resorts, B&Bs, and Motels
Wisconsin’s charm goes beyond its rolling hills, picturesque lakes, and thriving small towns. As a hotspot for tourism year-round, the state offers incredible opportunities for real estate investors, especially in hospitality properties like resorts, bed and breakfasts (B&Bs), and motels. If you’re looking to dive into this profitable and rewarding market, here’s your guide to making a smart investment.
Why Invest in Wisconsin Hospitality Properties?
Year-Round Tourism Wisconsin’s seasonal appeal ensures a steady flow of tourists. Summer brings visitors to the Northwoods, Door County, and the lakes, while winter attracts snowmobilers, skiers, and ice fishermen. Spring and fall are ideal for hikers, leaf peepers, and those exploring Wisconsin’s natural beauty.
Growing Demand for Unique Stays Travelers increasingly seek out unique and personalized accommodations over traditional hotels. Owning a resort or B&B allows you to cater to this demand with distinctive experiences.
Affordability and ROI Compared to larger states like California or Florida, Wisconsin’s hospitality properties often come with a lower price tag, making it a cost-effective market to enter while still offering strong potential for returns.
Types of Hospitality Properties to Consider
Resorts Resorts in Wisconsin, especially in the Northwoods or near major lakes, are popular for families and large groups. Properties with amenities like docks, boat rentals, and fire pits tend to perform well. Proximity to snowmobile or ATV trails can also boost year-round appeal.
Bed and Breakfasts (B&Bs) These smaller, personalized accommodations thrive in quaint towns like Bayfield, Cedarburg, and Lake Geneva. Unique themes or historic charm can set your B&B apart and attract repeat visitors.
Motels Motels along highways or near major attractions like Wisconsin Dells or the Blue Ox Trail system offer consistent demand from travelers seeking affordable and convenient options.
Key Considerations Before Investing
Location Is Everything Proximity to popular attractions, lakes, hiking trails, and downtown areas can make or break your investment. Research tourist trends and areas with consistent visitation.
Seasonal Versatility Ensure your property can generate income across all seasons. For example, properties near ski areas or snowmobile trails may perform well in winter, while lakefront resorts thrive in summer.
Zoning and Regulations Hospitality properties often come with specific zoning and permitting requirements. Familiarize yourself with local laws and ordinances to avoid headaches down the road.
Renovations and Maintenance Properties like resorts and B&Bs require regular upkeep to maintain their appeal. Consider the costs of renovations and ongoing maintenance when planning your budget.
Tips for Success in Wisconsin’s Hospitality Market
Leverage Online Marketing Create a strong online presence with a website and active profiles on platforms like Airbnb, VRBO, and Google My Business. Use high-quality photos and highlight unique features of your property.
Partner with Local Businesses Collaborate with local tour guides, restaurants, and attractions to create package deals or cross-promotions that attract guests.
Focus on Guest Experience Happy guests are your best marketers. Provide exceptional customer service, cleanliness, and amenities to encourage positive reviews and repeat business.
Invest in Upgrades That Add Value Features like hot tubs, fireplaces, or pet-friendly accommodations can make your property stand out and justify higher rates.
Work with a Knowledgeable Real Estate Agent Navigating the hospitality property market is much easier with an experienced agent who understands Wisconsin’s unique opportunities. They can guide you through the buying process, evaluate the property’s potential, and help you close the deal.
Why Choose Wisconsin for Your Hospitality Investment?
Wisconsin is more than just a beautiful state; it’s a hub for tourism, relaxation, and adventure. By investing in hospitality properties here, you’re not just purchasing real estate—you’re becoming part of a thriving industry that caters to travelers seeking memorable experiences. Whether it’s a lakeside resort, a cozy B&B, or a convenient motel, the potential for growth and income is undeniable.
Are you ready to explore hospitality property investments in Wisconsin? Let’s find the perfect opportunity that aligns with your goals. Contact Briar Schultz Real Estate today and let’s make your dream investment a reality!