Research Monthly report
North Dakota hotel market update, December 2025
- North Dakota
North Dakota hotels ran 55.6% occupancy at a $108 ADR over the last twelve months, RevPAR -1.2%.
North Dakota's hotel market for December 2025: how hotels performed, what sold, where rates stand and what is being built. For a closer look at a specific market or hotel, ask for a report.
Occupancy, trailing 12 months
55.6%
ADR, trailing 12 months
$108
RevPAR, trailing 12 months
$60
-1.2% year over year
RevPAR, Nov '25 vs Nov '24
+6.3%
Performance
Across every North Dakota hotel, the trailing twelve months averaged 55.6% occupancy, a $108 ADR and $60 RevPAR, with RevPAR -1.2% on the year before.
RevPAR for Nov '25 was +6.3% against Nov '24.
Month by month, North Dakota RevPAR in 2025 against 2024, through November:
All figures are from STR and run a month behind. For a specific market or scale, reach out.
Sales
No hotel sales were reported in North Dakota this month.
Capital markets
| Rate | As of November 30, 2025 |
|---|---|
| Prime rate | 6.75% |
| 10-year Treasury | 4.14% |
| 5-year Treasury | 3.69% |
New developments
Other developments that bring travelers:
- 3 Billion Dollar AI Data Center, Fargo/Harwood, ND: Construction of a large data center campus on a 320-acre site between Fargo and Harwood, expected to be completed by 2027 and attracting significant tech infrastructure activity.
- Bison World Tourism Development, Jamestown, ND: A large tourism-focused project intended to attract visitors year-round and diversify tourism beyond oil-driven activity.
- River Run Energy Center (NextEra & Basin Electric), North Dakota (specific location not yet disclosed): Collaborative energy project expected to bring new jobs and regional investment.
- New Natural Gas Pipeline (Intensity Infrastructure Partners proposal), McKenzie County to Rainbow, ND: Proposed pipeline infrastructure investment with economic and construction demand implications.
- Theodore Roosevelt Presidential Library, Medora, ND: Cultural and museum project in the Badlands expected to support tourism and year-round visitation once completed (~2026).
- North Dakota State Hospital (groundbreaking), Jamestown, ND: New $300 M facility under construction through 2027 with workforce and regional activity implications.
Tools
- Full hotel underwriting and waterfall model. Download the Excel model free. Questions or changes you'd recommend are welcome.
- A report on your hotel or market. Ask for one and we'll be in touch.
Thinking about what your hotel would sell for? Request a valuation.