Research North Dakota (ND)
North Dakota (ND) hotel market reports North Dakota
Every hotel market report and monthly market update on North Dakota (ND) from Reed Gizinski, a hotel broker with the Ruzicka Hotel Team at Marcus & Millichap: 16 reports, the newest sent November 2, 2026. Markets covered: Fargo, Grand Forks and Williston.
The latest monthly update, October 2026: North Dakota (ND) hotels ran 55.44% occupancy at a $113.53 ADR over the last twelve months, RevPAR +5.59%. Read the October 2026 update.
North Dakota (ND) hotel market reports by market
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Fargo, ND hotel market report, Q2 2026
Rate at a decade high, fewer rooms filled: 57.6% occupancy (-4.8%), $118.70 ADR (+0.7%), $68.34 RevPAR (-4.1%), nothing under construction.
- Fargo
- West Fargo
- Moorhead
- Cass County
- North Dakota (ND)
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Upper Midwest hotel sale data, January to May 2026
105 hotel sales in MN, WI, IA, ND and SD from January to May 2026, +25%; volume $359M, +58%. Average price per key up 57% while the median fell 12.5%.
- Minnesota (MN)
- Wisconsin (WI)
- Iowa (IA)
- North Dakota (ND)
- South Dakota (SD)
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Grand Forks, ND hotel market report, Q1 2026
Record 62.0% occupancy (+2.0 pts), $114.04 ADR (-2.1%), $70.72 RevPAR near its high, nothing under construction and a 12.65% cap rate.
- Grand Forks
- East Grand Forks
- North Dakota (ND)
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Williston, ND hotel market report, Q1 2026
Rate at an all-time high, nothing being built: 52.5% occupancy (-5.8%), $98.93 ADR (+10.4%), $51.90 RevPAR (+4.0%), a 14.1% cap rate.
- Williston
- Williams County
- North Dakota (ND)
North Dakota (ND) monthly hotel market updates
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North Dakota hotel market update, October 2026
North Dakota hotels ran 55.44% occupancy at a $113.53 ADR over the last twelve months, RevPAR +5.59%.
- North Dakota (ND)
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North Dakota hotel market update, September 2026
North Dakota hotels ran 55.85% occupancy at a $112.59 ADR over the last twelve months, RevPAR +4.76%.
- North Dakota (ND)
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North Dakota hotel market update, August 2026
North Dakota hotels ran 55.70% occupancy at a $111.86 ADR over the last twelve months, RevPAR +2.85%.
- North Dakota (ND)
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North Dakota hotel market update, July 2026
North Dakota hotels ran 55.03% occupancy at a $111.54 ADR over the last twelve months, RevPAR +0.51%. 1 hotel sold.
- North Dakota (ND)
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North Dakota hotel market update, June 2026
North Dakota hotels ran 55.09% occupancy at a $109.58 ADR over the last twelve months, RevPAR -1.25%. 1 hotel sold.
- North Dakota (ND)
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North Dakota hotel market update, May 2026
North Dakota hotels ran 55.29% occupancy at a $109.30 ADR over the last twelve months, RevPAR -1.65%. 1 new hotels are in the works.
- North Dakota (ND)
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North Dakota hotel market update, April 2026
North Dakota hotels ran 55.38% occupancy at a $108.66 ADR over the last twelve months, RevPAR -1.69%. 2 hotels sold.
- North Dakota (ND)
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North Dakota hotel market update, March 2026
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 (ND)
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North Dakota hotel market update, February 2026
North Dakota hotels ran 55.27% occupancy at a $108.17 ADR over the last twelve months, RevPAR -1.11%.
- North Dakota (ND)
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North Dakota hotel market update, January 2026
North Dakota hotels ran 55.82% occupancy at a $108.23 ADR over the last twelve months, RevPAR -1.1%.
- North Dakota (ND)
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North Dakota hotel market update, December 2025
North Dakota hotels ran 55.6% occupancy at a $108 ADR over the last twelve months, RevPAR -1.2%.
- North Dakota (ND)
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North Dakota hotel market update, November 2025
North Dakota's hotel market remains soft, with 12-month occupancy at 55.5% and RevPAR down 1.6% year-over-year, driven by a 4.6% decline in occupancy, even as ADR grew 3.2%. 2 hotels sold.
- North Dakota (ND)