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Research Monthly report

South Dakota hotel market update, September 2026

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

  • South Dakota

South Dakota hotels ran 56.03% occupancy at a $126.04 ADR over the last twelve months, RevPAR +2.97%. 1 hotel sold.

South 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

56.03%

ADR, trailing 12 months

$126.04

RevPAR, trailing 12 months

$70.61

+2.97% year over year

RevPAR, Aug '26 vs Aug '25

+0.82%

Luxury and upper upscale +3.68%

Performance

Across every South Dakota hotel, the trailing twelve months averaged 56.03% occupancy, a $126.04 ADR and $70.61 RevPAR, with RevPAR +2.97% on the year before.

RevPAR for Aug '26 was +0.82% against Aug '25. Luxury and upper upscale hotels did best at +3.68%; midscale and economy hotels were at -2.40%.

ScaleT-12 OccT-12 ADRT-12 RevPARRevPAR, year over yearRevPAR, Aug '26 vs Aug '25
All hotels56.03%$126.04$70.61+2.97%+0.82%
Luxury & Upper Upscale63.25%$186.10$117.71+4.74%+3.68%
Upper Midscale65.91%$138.13$91.03+2.45%+3.05%
Midscale & Economy49.24%$101.24$49.85+1.15%-2.40%
ADR and RevPAR by scale, trailing 12 months
$0$50$100$150$200All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · ADR: $126.04Luxury & Upper Upscale · ADR: $186.10Upper Midscale · ADR: $138.13Midscale & Economy · ADR: $101.24All hotels · RevPAR: $70.61Luxury & Upper Upscale · RevPAR: $117.71Upper Midscale · RevPAR: $91.03Midscale & Economy · RevPAR: $49.85$126.04$186.10$138.13$101.24$70.61$117.71$91.03$49.85$0$50$100$150$200All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · ADR: $126.04Luxury & Upper Upscale · ADR: $186.10Upper Midscale · ADR: $138.13Midscale & Economy · ADR: $101.24All hotels · RevPAR: $70.61Luxury & Upper Upscale · RevPAR: $117.71Upper Midscale · RevPAR: $91.03Midscale & Economy · RevPAR: $49.85$126.04$186.10$138.13$101.24$70.61$117.71$91.03$49.85

Source: STR, one-month reporting lag

ADRRevPAR
All hotels$126.04$70.61
Luxury & Upper Upscale$186.10$117.71
Upper Midscale$138.13$91.03
Midscale & Economy$101.24$49.85
RevPAR change by scale
-4%-2%0%2%4%6%All hotelsLuxury & UpperUpscaleUpper MidscaleMidscale & EconomyAll hotels · Trailing 12 months: 2.97%Luxury & Upper Upscale · Trailing 12 months: 4.74%Upper Midscale · Trailing 12 months: 2.45%Midscale & Economy · Trailing 12 months: 1.15%All hotels · Aug '26 vs. Aug '25: 0.82%Luxury & Upper Upscale · Aug '26 vs. Aug '25: 3.68%Upper Midscale · Aug '26 vs. Aug '25: 3.05%Midscale & Economy · Aug '26 vs. Aug '25: -2.40%2.97%4.74%2.45%1.15%0.82%3.68%3.05%-2.40%-4%-2%0%2%4%6%All hotelsLuxury &Upper UpscaleUpperMidscaleMidscale &EconomyAll hotels · Trailing 12 months: 2.97%Luxury & Upper Upscale · Trailing 12 months: 4.74%Upper Midscale · Trailing 12 months: 2.45%Midscale & Economy · Trailing 12 months: 1.15%All hotels · Aug '26 vs. Aug '25: 0.82%Luxury & Upper Upscale · Aug '26 vs. Aug '25: 3.68%Upper Midscale · Aug '26 vs. Aug '25: 3.05%Midscale & Economy · Aug '26 vs. Aug '25: -2.40%2.97%4.74%2.45%1.15%0.82%3.68%3.05%-2.40%

Source: STR, one-month reporting lag

Trailing 12 monthsAug '26 vs. Aug '25
All hotels2.97%0.82%
Luxury & Upper Upscale4.74%3.68%
Upper Midscale2.45%3.05%
Midscale & Economy1.15%-2.40%

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

RevPAR by month, 2025 and 2026
$0$25$50$75$100$125JanFebMarAprMayJunJulAugSepOctNovDecJan · 2025: $36.9Feb · 2025: $43.4Mar · 2025: $49.5Apr · 2025: $48.1May · 2025: $67.0Jun · 2025: $103.3Jul · 2025: $106.2Aug · 2025: $107.7Sep · 2025: $87.3Oct · 2025: $73.1Nov · 2025: $50.1Dec · 2025: $39.7Jan · 2026: $38.5Feb · 2026: $45.4Mar · 2026: $53.4Apr · 2026: $51.5May · 2026: $73.2Jun · 2026: $109.2Jul · 2026: $110.3Aug · 2026: $108.6$0$50$100$150JanMarMayJulSepNovJan · 2025: $36.9Feb · 2025: $43.4Mar · 2025: $49.5Apr · 2025: $48.1May · 2025: $67.0Jun · 2025: $103.3Jul · 2025: $106.2Aug · 2025: $107.7Sep · 2025: $87.3Oct · 2025: $73.1Nov · 2025: $50.1Dec · 2025: $39.7Jan · 2026: $38.5Feb · 2026: $45.4Mar · 2026: $53.4Apr · 2026: $51.5May · 2026: $73.2Jun · 2026: $109.2Jul · 2026: $110.3Aug · 2026: $108.6

values read from the CoStar chart in the original email

Source: CoStar, as of October 1, 2026

20252026
Jan$36.9$38.5
Feb$43.4$45.4
Mar$49.5$53.4
Apr$48.1$51.5
May$67.0$73.2
Jun$103.3$109.2
Jul$106.2$110.3
Aug$107.7$108.6
Sep$87.3
Oct$73.1
Nov$50.1
Dec$39.7

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

Sales

HotelCityPriceNote
Country Inn & Suites Sioux FallsSioux Falls-Price not public

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

New developments

This month's new hotels and sales
Sioux FallsSioux FallsSioux FallsSioux Falls

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

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

Tools

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