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Research Monthly report

North Dakota hotel market update, September 2026

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

  • North Dakota

North Dakota hotels ran 55.85% occupancy at a $112.59 ADR over the last twelve months, RevPAR +4.76%.

North Dakota's hotel market for September 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

55.85%

ADR, trailing 12 months

$112.59

RevPAR, trailing 12 months

$62.89

+4.76% year over year

RevPAR, Aug '26 vs Aug '25

+14.95%

Upper midscale +18.64%

Performance

Across every North Dakota hotel, the trailing twelve months averaged 55.85% occupancy, a $112.59 ADR and $62.89 RevPAR, with RevPAR +4.76% on the year before.

RevPAR for Aug '26 was +14.95% against Aug '25. Upper midscale hotels did best at +18.64%; midscale and economy hotels were at +12.98%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, Aug '26 vs Aug '25
All hotels55.85%$112.59$62.89+4.76%+14.95%
Upper Midscale61.13%$131.25$80.24+5.88%+18.64%
Midscale & Economy50.34%$94.01$47.32+4.25%+12.98%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150All hotelsUpper MidscaleMidscale & EconomyAll hotels · ADR: $112.59Upper Midscale · ADR: $131.25Midscale & Economy · ADR: $94.01All hotels · RevPAR: $62.89Upper Midscale · RevPAR: $80.24Midscale & Economy · RevPAR: $47.32$112.59$131.25$94.01$62.89$80.24$47.32$0$50$100$150All hotelsUpper MidscaleMidscale &EconomyAll hotels · ADR: $112.59Upper Midscale · ADR: $131.25Midscale & Economy · ADR: $94.01All hotels · RevPAR: $62.89Upper Midscale · RevPAR: $80.24Midscale & Economy · RevPAR: $47.32$112.59$131.25$94.01$62.89$80.24$47.32

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$112.59$62.89
Upper Midscale$131.25$80.24
Midscale & Economy$94.01$47.32
RevPAR change by scale
0%5%10%15%20%All hotelsUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 4.76%Upper Midscale · Trailing 12 months: 5.88%Midscale & Economy · Trailing 12 months: 4.25%All hotels · Aug '26 vs. Aug '25: 14.95%Upper Midscale · Aug '26 vs. Aug '25: 18.64%Midscale & Economy · Aug '26 vs. Aug '25: 12.98%4.76%5.88%4.25%14.95%18.64%12.98%0%5%10%15%20%All hotelsUpper MidscaleMidscale &EconomyAll hotels · Trailing 12 months: 4.76%Upper Midscale · Trailing 12 months: 5.88%Midscale & Economy · Trailing 12 months: 4.25%All hotels · Aug '26 vs. Aug '25: 14.95%Upper Midscale · Aug '26 vs. Aug '25: 18.64%Midscale & Economy · Aug '26 vs. Aug '25: 12.98%4.76%5.88%4.25%14.95%18.64%12.98%

Source: STR, one-month reporting lag

Trailing 12 monthsAug '26 vs. Aug '25
All hotels4.76%14.95%
Upper Midscale5.88%18.64%
Midscale & Economy4.25%12.98%

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

RevPAR by month, 2025 and 2026
$0$20$40$60$80$100JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $46.4Feb · 2025: $50.1Mar · 2025: $52.5Apr · 2025: $55.4May · 2025: $62.4Jun · 2025: $72.7Jul · 2025: $82.1Aug · 2025: $71.6Sep · 2025: $72.0Oct · 2025: $68.8Nov · 2025: $52.6Dec · 2025: $41.3Jan · 2026: $48.0Feb · 2026: $52.7Mar · 2026: $52.8Apr · 2026: $53.9May · 2026: $65.6Jun · 2026: $78.1Jul · 2026: $89.7Aug · 2026: $81.2$0$25$50$75$100JanMarMayJulSepNovJan · 2025: $46.4Feb · 2025: $50.1Mar · 2025: $52.5Apr · 2025: $55.4May · 2025: $62.4Jun · 2025: $72.7Jul · 2025: $82.1Aug · 2025: $71.6Sep · 2025: $72.0Oct · 2025: $68.8Nov · 2025: $52.6Dec · 2025: $41.3Jan · 2026: $48.0Feb · 2026: $52.7Mar · 2026: $52.8Apr · 2026: $53.9May · 2026: $65.6Jun · 2026: $78.1Jul · 2026: $89.7Aug · 2026: $81.2

values read from the CoStar chart in the original email

Source: CoStar, as of October 1, 2026

20252026
Jan$46.4$48.0
Feb$50.1$52.7
Mar$52.5$52.8
Apr$55.4$53.9
May$62.4$65.6
Jun$72.7$78.1
Jul$82.1$89.7
Aug$71.6$81.2
Sep$72.0
Oct$68.8
Nov$52.6
Dec$41.3

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

RateAs of September 30, 2026
Prime rate7.00%
10-year Treasury5.298% (52 Week High)
5-year Treasury5.089%

New developments

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

Tools

Thinking about what your hotel would sell for? Request a valuation.

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