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Research Monthly report

North Dakota hotel market update, March 2026

Reed Gizinski · hotel broker, Ruzicka Hotel Team at Marcus & Millichap

  • North Dakota

North Dakota hotels ran 55.41% occupancy at a $108.75 ADR over the last twelve months, RevPAR -1.26%. 2 hotels sold.

North Dakota's hotel market for March 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

55.41%

ADR, trailing 12 months

$108.75

RevPAR, trailing 12 months

$59.79

-1.26% year over year

RevPAR, Feb '26 vs Feb '25

+9.22%

Upper midscale +5.05%

Performance

Across every North Dakota hotel, the trailing twelve months averaged 55.41% occupancy, a $108.75 ADR and $59.79 RevPAR, with RevPAR -1.26% on the year before.

RevPAR for Feb '26 was +9.22% against Feb '25. Upper midscale hotels did best at +5.05%; midscale and economy hotels were at -1.27%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, Feb '26 vs Feb '25
All hotels55.41%$108.75$59.79-1.26%+9.22%
Upper Midscale60.50%$127.41$77.08-1.81%+5.05%
Midscale & Economy49.79%$90.02$44.82-2.35%-1.27%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150All hotelsUpper MidscaleMidscale & EconomyAll hotels · ADR: $108.75Upper Midscale · ADR: $127.41Midscale & Economy · ADR: $90.02All hotels · RevPAR: $59.79Upper Midscale · RevPAR: $77.08Midscale & Economy · RevPAR: $44.82$108.75$127.41$90.02$59.79$77.08$44.82$0$50$100$150All hotelsUpper MidscaleMidscale &EconomyAll hotels · ADR: $108.75Upper Midscale · ADR: $127.41Midscale & Economy · ADR: $90.02All hotels · RevPAR: $59.79Upper Midscale · RevPAR: $77.08Midscale & Economy · RevPAR: $44.82$108.75$127.41$90.02$59.79$77.08$44.82

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$108.75$59.79
Upper Midscale$127.41$77.08
Midscale & Economy$90.02$44.82
RevPAR change by scale
-2.5%0%2.5%5%7.5%10%All hotelsUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: -1.26%Upper Midscale · Trailing 12 months: -1.81%Midscale & Economy · Trailing 12 months: -2.35%All hotels · Feb '26 vs. Feb '25: 9.22%Upper Midscale · Feb '26 vs. Feb '25: 5.05%Midscale & Economy · Feb '26 vs. Feb '25: -1.27%-1.26%-1.81%-2.35%9.22%5.05%-1.27%-5%0%5%10%All hotelsUpper MidscaleMidscale &EconomyAll hotels · Trailing 12 months: -1.26%Upper Midscale · Trailing 12 months: -1.81%Midscale & Economy · Trailing 12 months: -2.35%All hotels · Feb '26 vs. Feb '25: 9.22%Upper Midscale · Feb '26 vs. Feb '25: 5.05%Midscale & Economy · Feb '26 vs. Feb '25: -1.27%-1.26%-1.81%-2.35%9.22%5.05%-1.27%

Source: STR, one-month reporting lag

Trailing 12 monthsFeb '26 vs. Feb '25
All hotels-1.26%9.22%
Upper Midscale-1.81%5.05%
Midscale & Economy-2.35%-1.27%

Month by month, North Dakota RevPAR in 2026 against 2025, through February:

RevPAR by month, 2025 and 2026
$0$20$40$60$80$100JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $45.6Feb · 2025: $49.8Mar · 2025: $52.9Apr · 2025: $54.8May · 2025: $62.2Jun · 2025: $72.2Jul · 2025: $81.1Aug · 2025: $70.5Sep · 2025: $71.9Oct · 2025: $68.5Nov · 2025: $51.7Dec · 2025: $40.8Jan · 2026: $46.7Feb · 2026: $51.0$0$25$50$75$100JanMarMayJulSepNovJan · 2025: $45.6Feb · 2025: $49.8Mar · 2025: $52.9Apr · 2025: $54.8May · 2025: $62.2Jun · 2025: $72.2Jul · 2025: $81.1Aug · 2025: $70.5Sep · 2025: $71.9Oct · 2025: $68.5Nov · 2025: $51.7Dec · 2025: $40.8Jan · 2026: $46.7Feb · 2026: $51.0

values read from the CoStar chart in the original email

Source: CoStar, as of March 30, 2026

20252026
Jan$45.6$46.7
Feb$49.8$51.0
Mar$52.9
Apr$54.8
May$62.2
Jun$72.2
Jul$81.1
Aug$70.5
Sep$71.9
Oct$68.5
Nov$51.7
Dec$40.8

All figures are from STR and run a month behind. For a specific market or scale, reach out.

Sales

HotelCityPriceNote
MainStay FargoFargo$4,530,000
Red Roof Inn FargoFargo$3,220,000

Sale prices come from public records and may not include capital allocated to FF&E or goodwill. Want to know more about one of these sales? Get in touch.

Capital markets

RateAs of March 30, 2026
Prime rate6.75%
10-year Treasury4.346%
5-year Treasury3.976%

New developments

This month's new hotels and sales
FargoNorth DakotaFargoFargoNorth DakotaFargo

Boundaries, roads and water: U.S. Census Bureau (TIGER/Line).

Another 6 hotels have been proposed. Call or email to learn more about any of them.

Tools

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