A recent transaction in southeast Rochester saw RMN Hotel, LLC, based in West Salem, Wisconsin, acquire the La Quinta Inn and Suites hotel for $5.27 million. This purchase took place on March 28, 2025, and involves an 83-room, four-story hotel located at 4353 Canal Place SE, within the Shoppes on Maine commercial area. The acquisition was led by Jayesh Patel, as noted in state records.
The transaction amount includes $1.6 million attributed to furniture, goodwill, and personal property. The Olmsted County assessment estimates the property’s market value at $3.76 million for the 2025-2026 period.
Previously owned by American Hospitality, based in Shakopee, Minnesota, the 12-year-old hotel changed hands after seven years under their ownership. American Hospitality initially purchased the property in 2018 for $7.4 million. The hotel, which encompasses 50,212 square feet, was originally constructed by PLC Inc. of Fargo, North Dakota, under the leadership of Chuck Hayes.
This marks the fourth hotel in Rochester to undergo a change in ownership within the past four months. In December, the Minneapolis-based Second Street Hotel Group LLC, led by Harshal Patel, acquired the SpringHill Suites hotel at 1125 Second St. SW for $7.8 million. Additionally, Utah-based Terratron, which has a significant presence in Minnesota, purchased the Homewood Suites and Courtyard By Marriott hotels, along with associated parking areas at 165/161 13th Ave. SW, for $29.5 million on December 18.
Your World Now
- This transaction highlights ongoing activity in Rochester’s hotel market, potentially influencing local tourism and accommodation options.
- The valuation disparity between purchase price and market estimate may affect perceptions of property value and investment potential in the area.
- Ongoing changes in hotel ownership could impact employment and management practices within the hospitality industry locally.
- Community members and businesses might experience shifts in service quality and customer experience due to different ownership and operational strategies.
- These developments could indicate broader trends in real estate investment and economic activity within Rochester, impacting local businesses and economic growth.