November 12, 2026, by The Plasencia Group
U.S. hotel RevPAR rose 11.0% in September. That’s the strongest month for the industry since February 2023.
Occupancy was up 5.4%, the best gain since early 2023, and average rate rose 5.3%. Every month this year has been positive, after much of 2025 was negative.
Hotels filled more rooms and charged more for them in almost equal measure, which hasn’t happened at this level in a while. Mid-September says a lot: national ADR topped $179 two weeks in a row, including a new weekly record. Big event calendars brought travelers in, and they paid up to be there. Yes, a couple of holiday shifts helped the comparison, but demand and pricing power did most of the work. For owners, that’s the kind of momentum that shows up in valuations and in how lenders look at a deal heading into 2027.
Despite a mixed economic backdrop, hotel fundamentals are trending in the right direction. Rooms and rates rising together is a good sign heading into 2027. The fourth quarter looks set up to close out the year strong.
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