Research Monthly report
North Dakota hotel market update, February 2026
- North Dakota
North Dakota hotels ran 55.27% occupancy at a $108.17 ADR over the last twelve months, RevPAR -1.11%.
North Dakota's hotel market for February 2026: 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
55.27%
ADR, trailing 12 months
$108.17
RevPAR, trailing 12 months
$59.79
-1.11% year over year
RevPAR, Jan '26 vs Jan '25
+3.91%
Midscale and economy +2.33%
Performance
Across every North Dakota hotel, the trailing twelve months averaged 55.27% occupancy, a $108.17 ADR and $59.79 RevPAR, with RevPAR -1.11% on the year before.
RevPAR for Jan '26 was +3.91% against Jan '25. Midscale and economy hotels did best at +2.33%; upper midscale hotels were at +0.38%.
| Scale | T-12 Occ | T-12 ADR | T-12 RevPAR | RevPAR, year over year | RevPAR, Jan '26 vs Jan '25 |
|---|---|---|---|---|---|
| All hotels | 55.27% | $108.17 | $59.79 | -1.11% | +3.91% |
| Upper Midscale | 60.39% | $127.14 | $76.78 | -2.42% | +0.38% |
| Midscale & Economy | 50.77% | $90.26 | $45.82 | -2.44% | +2.33% |
Month by month, North Dakota RevPAR in 2026 against 2025, through January:
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 February 27, 2026 |
|---|---|
| Prime rate | 6.75% |
| 10-year Treasury | 3.981% |
| 5-year Treasury | 3.536% |
New developments
Another 6 hotels have been proposed. Call or email to learn more about any of them.
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.
- Cerilon Gas-to-Liquids (GTL) Plant, Trenton, ND: Proposed large-scale gas-to-liquids facility converting Bakken natural gas into low-carbon liquid fuels and wax products.
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.