Fairway Inn & Suites, Ascend Collection
$1 mil revenue | 102 Keys | Full Renovation Completed
Marketing description
P&E Hotel Advisors have been selected as the exclusive listing broker for the Fairway Inn & Suites in Mishicot, Wisconsin and are proud to present this opportunity to the market.
The property is a 102-key, two-story Ascend Hotel Collection® hotel located at 250 W Church Street on a 12.19-acre parcel between Sheboygan and Door County. The asset operates under Choice Hotels International's soft-brand collection and includes a full-service restaurant, banquet and conference space, an outdoor patio, indoor pool, and fitness center. The hotel sits within the historic Fox Hills resort complex and is offered as the hotel asset only.
The seller has invested approximately $2.93 million in 2025 in a comprehensive renovation and re-flag program covering guest rooms, public spaces, FF&E, and exterior improvements. The renovation is being completed by ownership and is fully funded; no buyer-side capital is being underwritten for completion. The Choice Hotels Ascend membership agreement was executed in December 2024 (Property Code WI546), establishing brand effective dates for the next operator.
A long-term Net-Net lease was executed in April 2026 with an experienced operator covering the restaurant and banquet/conference space. The lease establishes contractual base rent with tenant cost-share for property tax, utilities, and CAM, leaving the next buyer with a hotel-only operating focus and a credit-tenant income stream from day one.
The investment thesis is straightforward: a fully renovated, soft-branded 102-key hotel with an executed franchise, an in-place credit-tenant lease, and a clear path to stabilized rooms-revenue performance under a long-tenured operator partnership.
Investment highlights
Exclusively Listed by P&E Hotel Advisors — Hospitality investment sales · valuation · advisory
Fully Renovated 2025 Asset — $2.93M comprehensive renovation funded and being completed by current ownership; no buyer-side completion capital underwritten
Ascend Hotel Collection® Soft-Brand Flag — Choice Hotels International membership executed December 2024; Choice Privileges loyalty access (60M+ members) and global distribution from day one
102 Keys · 2 Floors · 12.19-Acre Parcel — restaurant, banquet/conference, outdoor patio, indoor pool, and fitness on a single contiguous parcel; clean parcel break following 2025 receivership exit
In-Place Net-Net Lease on F&B and Banquet — long-term lease executed April 2026 with Garceau Thirty-One; contractual base rent plus tenant cost-share for tax, utilities, and CAM
Specialized Wisconsin F&B/Banquet Operator In Place — tenant operates exclusively in golf course and banquet facility operations across Wisconsin; banquet calendar and group rhythm already established
Strategic Eastern Wisconsin Location — situated between the Sheboygan and Door County tourism corridors with proximity to Lambeau Field and the I-43 access spine; strong regional summer and group seasonality
Path to Submarket Performance — submarket trailing-twelve-month performance materially exceeds current property operating levels; the gap-to-close is the underwriting opportunity
Group and Banquet Calendar In Place — American Bus Association group bookings confirmed for 2026; strong second-quarter banquet calendar already on the books
Choice Hotels Marketing & Brand Support Available — incentive support available to a buyer who retains the Ascend flag at acquisition
Single-Entity Ownership · Clean Title — JMLR Real Estate LLC holds clean title to the hotel parcel; clear chain of title with all parcel-split documentation completed
Hotel Asset Only — Golf and Cottages Excluded — focused hotel transaction; no operational complexity from adjacent golf, cottage, or condo entities
Offered Unpriced · Request-for-Offer Process — structured call-for-offers process; tours May–July 2026, offers August 2026, target close year-end 2026
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