Paramount Lodging Advisors (PLA) Presents Three Bears Resort, an Ascend Collection Hotel, Warrens, WI
Paramount Lodging Advisors (PLA) is pleased to present Three Bears Resort, an Ascend Collection Hotel, a 93-key indoor/outdoor waterpark resort located at 701 Yogi Circle in Warrens, Wisconsin, directly off the Interstate 94 corridor in the heart of the state's Cranberry Country.
The offering is exclusively represented by Carter Benedict, Senior Associate, and Deep Dave, Senior Associate, of Paramount Lodging Advisors.
The asset is offered fee simple and includes the main lodge, 17.89 acres, and five on-site villas, priced below replacement cost. The resort is anchored by a 60,000-square-foot indoor/outdoor waterpark, a high-barrier-to-entry amenity that supports year-round demand and gives new ownership a durable competitive position along the I-94 corridor between La Crosse and Wisconsin Dells.
Beyond the waterpark, Three Bears Resort operates a diversified revenue platform that includes four food and beverage outlets, a redemption arcade, mini-golf, laser tag, and 8,790 square feet of meeting space accommodating up to 1,000 guests. Approximately $4.58 million has been invested in capital improvements since 2016, including a full guest room renovation completed in 2023, reducing near-term capital exposure for new ownership.
Investment Highlights
Fee-simple interest in the 93-key Three Bears Resort, an Ascend Collection Hotel, including the main lodge, 17.89 acres, and five on-site villas
Offered below replacement cost, creating an attractive entry point relative to new construction
Anchored by a 60,000-square-foot indoor/outdoor waterpark, a high-barrier-to-entry amenity supporting year-round revenue
Approximately $4.58 million invested in capital improvements since 2016, including a full 2023 guest room renovation, reducing near-term capital exposure
Diversified revenue platform including four food and beverage outlets, a redemption arcade, mini-golf, laser tag, and 8,790 square feet of meeting space accommodating up to 1,000 guests
Limited competitive supply of comparable indoor waterpark resorts along the I-94 corridor between La Crosse and Wisconsin Dells
Location Advantages
Located directly off Interstate 94 in Warrens, Wisconsin, with convenient access between the Minneapolis-St. Paul, Madison, Milwaukee, and Chicago population centers
Positioned approximately 50 miles from Wisconsin Dells, one of the Midwest's premier family leisure destinations and a nationally recognized waterpark market
Situated in Monroe County's Cranberry Country, where Wisconsin produces more than half of the world's cranberry supply and Warrens hosts the nationally recognized Warrens Cranberry Festival
Surrounded by year-round outdoor recreation, including Black River State Forest's approximately 68,000 acres, Monroe County ATV trail systems, and trails for fishing, hunting, snowmobiling, and hiking
Part of a regional tourism corridor that includes Jellystone Park Warrens, the Cranberry Discovery Center, and other family-oriented attractions
Paramount Lodging Advisors (PLA) is a national hotel brokerage and advisory firm specializing in hospitality asset sales, debt and equity placement, and value-enhancement strategies.
For more information, visit https://reverecre.com/projects
To connect with Carter and Deep regarding this offering, visit: https://paramountlodging.com/team