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Research Monthly report

South Dakota hotel market update, October 2026

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

  • South Dakota

South Dakota hotels ran 56.33% occupancy at a $126.72 ADR over the last twelve months, RevPAR +4.60%. 1 hotel sold and 4 new hotels are under construction.

South Dakota's hotel market for October 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

56.33%

ADR, trailing 12 months

$126.72

RevPAR, trailing 12 months

$71.38

+4.60% year over year

RevPAR, Sep '26 vs Sep '25

+14.14%

Midscale and economy +17.20%

Performance

Across every South Dakota hotel, the trailing twelve months averaged 56.33% occupancy, a $126.72 ADR and $71.38 RevPAR, with RevPAR +4.60% on the year before.

RevPAR for Sep '26 was +14.14% against Sep '25. Midscale and economy hotels did best at +17.20%; luxury and upper upscale hotels were at +3.38%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, Sep '26 vs Sep '25
All hotels56.33%$126.72$71.38+4.60%+14.14%
Luxury & Upper Upscale63.06%$186.30$117.49+2.89%+3.38%
Upper Midscale65.84%$140.39$92.43+3.86%+10.81%
Midscale & Economy49.88%$102.46$51.10+3.44%+17.20%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $126.72Luxury & Upper Upscale · ADR: $186.30Upper Midscale · ADR: $140.39Midscale & Economy · ADR: $102.46All hotels · RevPAR: $71.38Luxury & Upper Upscale · RevPAR: $117.49Upper Midscale · RevPAR: $92.43Midscale & Economy · RevPAR: $51.10$126.72$186.30$140.39$102.46$71.38$117.49$92.43$51.10$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $126.72Luxury & Upper Upscale · ADR: $186.30Upper Midscale · ADR: $140.39Midscale & Economy · ADR: $102.46All hotels · RevPAR: $71.38Luxury & Upper Upscale · RevPAR: $117.49Upper Midscale · RevPAR: $92.43Midscale & Economy · RevPAR: $51.10$126.72$186.30$140.39$102.46$71.38$117.49$92.43$51.10

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$126.72$71.38
Luxury & Upper Upscale$186.30$117.49
Upper Midscale$140.39$92.43
Midscale & Economy$102.46$51.10
RevPAR change by scale
0%5%10%15%20%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 4.60%Luxury & Upper Upscale · Trailing 12 months: 2.89%Upper Midscale · Trailing 12 months: 3.86%Midscale & Economy · Trailing 12 months: 3.44%All hotels · Sep '26 vs. Sep '25: 14.14%Luxury & Upper Upscale · Sep '26 vs. Sep '25: 3.38%Upper Midscale · Sep '26 vs. Sep '25: 10.81%Midscale & Economy · Sep '26 vs. Sep '25: 17.20%4.60%2.89%3.86%3.44%14.14%3.38%10.81%17.20%0%5%10%15%20%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 4.60%Luxury & Upper Upscale · Trailing 12 months: 2.89%Upper Midscale · Trailing 12 months: 3.86%Midscale & Economy · Trailing 12 months: 3.44%All hotels · Sep '26 vs. Sep '25: 14.14%Luxury & Upper Upscale · Sep '26 vs. Sep '25: 3.38%Upper Midscale · Sep '26 vs. Sep '25: 10.81%Midscale & Economy · Sep '26 vs. Sep '25: 17.20%4.60%2.89%3.86%3.44%14.14%3.38%10.81%17.20%

Source: STR, one-month reporting lag

Trailing 12 monthsSep '26 vs. Sep '25
All hotels4.60%14.14%
Luxury & Upper Upscale2.89%3.38%
Upper Midscale3.86%10.81%
Midscale & Economy3.44%17.20%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $36.3Feb · 2025: $42.6Mar · 2025: $48.9Apr · 2025: $47.5May · 2025: $66.6Jun · 2025: $103.2Jul · 2025: $105.9Aug · 2025: $107.8Sep · 2025: $87.1Oct · 2025: $72.6Nov · 2025: $49.7Dec · 2025: $39.0Jan · 2026: $37.9Feb · 2026: $44.5Mar · 2026: $52.7Apr · 2026: $50.5May · 2026: $72.9Jun · 2026: $109.4Jul · 2026: $110.5Aug · 2026: $109.2Sep · 2026: $99.3$0$50$100$150JanMarMayJulSepNovJan · 2025: $36.3Feb · 2025: $42.6Mar · 2025: $48.9Apr · 2025: $47.5May · 2025: $66.6Jun · 2025: $103.2Jul · 2025: $105.9Aug · 2025: $107.8Sep · 2025: $87.1Oct · 2025: $72.6Nov · 2025: $49.7Dec · 2025: $39.0Jan · 2026: $37.9Feb · 2026: $44.5Mar · 2026: $52.7Apr · 2026: $50.5May · 2026: $72.9Jun · 2026: $109.4Jul · 2026: $110.5Aug · 2026: $109.2Sep · 2026: $99.3

values read from the CoStar chart in the original email

Source: CoStar, as of November 2, 2026

20252026
Jan$36.3$37.9
Feb$42.6$44.5
Mar$48.9$52.7
Apr$47.5$50.5
May$66.6$72.9
Jun$103.2$109.4
Jul$105.9$110.5
Aug$107.8$109.2
Sep$87.1$99.3
Oct$72.6
Nov$49.7
Dec$39.0

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

Sales

HotelCityPriceNote
Governor's Inn PierrePierre$2,915,000

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 November 2, 2026
Prime rate7.00%
10-year Treasury4.898%
5-year Treasury4.707%

New developments

This month's new hotels and sales
PierreBelle FourcheSioux FallsFort PierreHuronPierreBelle FourcheSioux FallsFort PierreHuronPierreSioux FallsFort PierreHuronPierreSioux FallsHuron

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

Hotels under construction in South Dakota:

  • Belle Fourche Hotel & Convention Center, Belle Fourche
  • Everhome Suites, Sioux Falls
  • Candlewood Suites & avid hotel dual brand, Fort Pierre
  • Comfort Inn & Suites, Huron

Another 9 hotels have been proposed. Call or email to learn more about any of them.

Tools

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