2020 started with a great deal of optimism as we came off strong or improving years in all of our markets. And then came the pandemic. Most disappointing was the collapse of the St. Paul, MN hotel market just as the Celeste of St. Paul was beginning to boom.

However, challenging times force organizations to come together and find efficiencies. While we needed to make dramatic cuts in staffing as we closed and reopened properties, this allowed us to focus on those leaders and staff with a true passion for the industry and our properties. Over and over again, I have been impressed by our management and staff as they have found innovative ways to meet the challenges we have faced. We are thrilled with how the Decorah market has rebounded and are encouraged by steady growth in Northfield. It will take more time for the St. Paul and Des Moines markets to recover but we are proud to say we have the best boutique property in each of those cities.

We were also able to take the time to make significant improvements at each or the hotels and bars, especially at the Hotel Winneshiek and the Archer House during closed and quiet weeks. The hotels have never looked better and our already careful housekeeping was augmented with additional technology and procedures to increase sanitation and safety for staff and guests.

We never want to face a year like 2020 again but the strength of our organization, attention to detail, quality of staff and guest safety and security will have never been better. We have also discovered new marketing and sales skills and partners that will allow us to gain share as our markets improve. We look forward to welcoming new and returning guests during the remainder of 2020 and beyond. We are grateful for the support of our guests, staff, investors, and communities! Thank you

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