BAXTER, Minn. (November 11, 2026) — Leisure Hotels & Resorts (LHR), a Baxter, Minnesota-based hospitality management company, today announced the acquisition of Madison, Wisconsin-based IDM Hospitality Management, expanding its portfolio with hotel and resort properties across Wisconsin, Iowa and Illinois.
The transaction, which closed November 11, 2026, marks another significant milestone in Leisure Hotels & Resorts’ strategic growth and strengthens its presence in key Midwest leisure, business and destination travel markets. Financial terms of the transaction were not disclosed.
Founded in 1999 by Craig “Nedd” Neddersen, IDM Hospitality Management has established a longstanding reputation for managing distinctive hospitality properties, including boutique hotels, waterfront resorts and destination accommodations. The acquisition comes as Neddersen prepares to retire, concluding over a quarter century of leadership in the hospitality industry.
“After more than two decades of building relationships with property owners, employees and communities, it was important to find a partner who shares our commitment to hospitality and understands what makes each of these properties special,” said Craig “Nedd” Neddersen, President of IDM Hospitality Management. “Jamie and his Leisure Hotels & Resorts team bring the experience, resources and personal approach necessary to carry that legacy forward. I’m confident that our properties, our people and our partners will be in excellent hands as I begin this next chapter of my life.”
For Leisure Hotels & Resorts, the acquisition represents an opportunity to build upon an established portfolio while expanding its management footprint across several important Midwest markets.
“IDM has built an impressive collection of properties that align exceptionally well with our philosophy of hospitality management,” said Jamie Tatge, Team Captain and CEO of Leisure Hotels & Resorts. “These are properties with individual character, strong connections to their communities and tremendous potential for continued success. Just as importantly, this acquisition brings together two organizations that share a commitment to personal relationships, operational excellence and creating fun and memorable guest experiences. We’re excited to build on what Nedd and his team have accomplished.”
The transaction was brokered by Frank Jermusek of SVN | North, who worked to bring the two hospitality organizations together.
“This transaction represents an excellent strategic fit for both parties,” said Frank Jermusek of SVN | North. “IDM has developed a respected hospitality management business with an attractive mix of properties, while Leisure Hotels & Resorts has the operational expertise and resources to support the continued growth of its properties and portfolio. For Nedd, it creates a thoughtful succession opportunity; for Jamie and Leisure Hotels & Resorts, it provides an established platform for expansion. It’s the kind of transaction where the unique strengths and acumen of both these leaders and their teams provide meaningful long-term value.”
The addition of IDM’s portfolio further reinforces Leisure Hotels & Resorts’ commitment to growing through strategic partnerships and acquisitions while preserving the individual character and market positioning of the hotels and resorts under its management.
About Leisure Hotels & Resorts – Leisure Hotels & Resorts is a Midwest-based hospitality management company specializing in the operation, development and management of distinctive hotels, resorts and destination properties. With a focus on operational excellence, guest experiences and strong owner relationships, the company works to maximize the potential of each property while preserving the qualities that make it unique.
About IDM Hospitality Management – Founded in 1999 and based in Madison, Wisconsin, IDM Hospitality Management has provided hospitality management services for a diverse portfolio of hotels and resorts throughout the Midwest. Under the leadership of President Craig “Nedd” Neddersen, the company has developed longstanding relationships with property owners and hospitality partners, with an emphasis on personalized service and property performance.
About SVN | Northco – Founded in 1975 and based in Minneapolis, Minnesota, SVN | Northco is a commercial real estate brokerage and advisory firm with a nationwide hospitality practice serving resorts, hotels, lodges, golf courses, and other hospitality properties. Led by industry veteran Frank Jermusek, the firm advises owners, investors, and operators on investment sales, acquisitions, and other strategic real estate transactions. As part of the global SVN commercial real estate network, SVN | Northco pairs local market knowledge and hospitality industry relationships with the reach of a global brokerage network.
