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Research Monthly report

South Dakota hotel market update, March 2026

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

  • South Dakota

South Dakota hotels ran 55.40% occupancy at a $122.50 ADR over the last twelve months, RevPAR -0.52%.

South 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

55.40%

ADR, trailing 12 months

$122.50

RevPAR, trailing 12 months

$67.86

-0.52% year over year

RevPAR, Feb '26 vs Feb '25

+4.06%

Luxury and upper upscale +4.04%

Performance

Across every South Dakota hotel, the trailing twelve months averaged 55.40% occupancy, a $122.50 ADR and $67.86 RevPAR, with RevPAR -0.52% on the year before.

RevPAR for Feb '26 was +4.06% against Feb '25. Luxury and upper upscale hotels did best at +4.04%; midscale and economy hotels were at +1.06%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, Feb '26 vs Feb '25
All hotels55.40%$122.50$67.86-0.52%+4.06%
Luxury & Upper Upscale61.76%$181.22$111.92+3.82%+4.04%
Upper Midscale65.17%$136.53$88.98+0.36%+2.23%
Midscale & Economy48.98%$99.62$48.80-2.76%+1.06%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $122.50Luxury & Upper Upscale · ADR: $181.22Upper Midscale · ADR: $136.53Midscale & Economy · ADR: $99.62All hotels · RevPAR: $67.86Luxury & Upper Upscale · RevPAR: $111.92Upper Midscale · RevPAR: $88.98Midscale & Economy · RevPAR: $48.80$122.50$181.22$136.53$99.62$67.86$111.92$88.98$48.80$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $122.50Luxury & Upper Upscale · ADR: $181.22Upper Midscale · ADR: $136.53Midscale & Economy · ADR: $99.62All hotels · RevPAR: $67.86Luxury & Upper Upscale · RevPAR: $111.92Upper Midscale · RevPAR: $88.98Midscale & Economy · RevPAR: $48.80$122.50$181.22$136.53$99.62$67.86$111.92$88.98$48.80

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$122.50$67.86
Luxury & Upper Upscale$181.22$111.92
Upper Midscale$136.53$88.98
Midscale & Economy$99.62$48.80
RevPAR change by scale
-4%-2%0%2%4%6%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: -0.52%Luxury & Upper Upscale · Trailing 12 months: 3.82%Upper Midscale · Trailing 12 months: 0.36%Midscale & Economy · Trailing 12 months: -2.76%All hotels · Feb '26 vs. Feb '25: 4.06%Luxury & Upper Upscale · Feb '26 vs. Feb '25: 4.04%Upper Midscale · Feb '26 vs. Feb '25: 2.23%Midscale & Economy · Feb '26 vs. Feb '25: 1.06%-0.52%3.82%0.36%-2.76%4.06%4.04%2.23%1.06%-4%-2%0%2%4%6%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: -0.52%Luxury & Upper Upscale · Trailing 12 months: 3.82%Upper Midscale · Trailing 12 months: 0.36%Midscale & Economy · Trailing 12 months: -2.76%All hotels · Feb '26 vs. Feb '25: 4.06%Luxury & Upper Upscale · Feb '26 vs. Feb '25: 4.04%Upper Midscale · Feb '26 vs. Feb '25: 2.23%Midscale & Economy · Feb '26 vs. Feb '25: 1.06%-0.52%3.82%0.36%-2.76%4.06%4.04%2.23%1.06%

Source: STR, one-month reporting lag

Trailing 12 monthsFeb '26 vs. Feb '25
All hotels-0.52%4.06%
Luxury & Upper Upscale3.82%4.04%
Upper Midscale0.36%2.23%
Midscale & Economy-2.76%1.06%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $35.8Feb · 2025: $42.3Mar · 2025: $48.3Apr · 2025: $47.3May · 2025: $65.9Jun · 2025: $103.6Jul · 2025: $106.1Aug · 2025: $107.6Sep · 2025: $86.9Oct · 2025: $71.7Nov · 2025: $49.3Dec · 2025: $38.5Jan · 2026: $37.4Feb · 2026: $44.0$0$50$100$150JanMarMayJulSepNovJan · 2025: $35.8Feb · 2025: $42.3Mar · 2025: $48.3Apr · 2025: $47.3May · 2025: $65.9Jun · 2025: $103.6Jul · 2025: $106.1Aug · 2025: $107.6Sep · 2025: $86.9Oct · 2025: $71.7Nov · 2025: $49.3Dec · 2025: $38.5Jan · 2026: $37.4Feb · 2026: $44.0

values read from the CoStar chart in the original email

Source: CoStar, as of March 30, 2026

20252026
Jan$35.8$37.4
Feb$42.3$44.0
Mar$48.3
Apr$47.3
May$65.9
Jun$103.6
Jul$106.1
Aug$107.6
Sep$86.9
Oct$71.7
Nov$49.3
Dec$38.5

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 South Dakota this month.

Capital markets

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

New developments

Another 14 hotels have been proposed. Call or email to learn more about any of them.

Tools

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