Our hotelAVE Hospitality Dashboard 1Q26 is now available!

• • • • CoStar raised their 2026 YE RevPAR forecast to 1.3% (up 70 bps). REIT’s guided full year RevPAR growth from 0.5% to 3.75% while the Brands reported growth ranging from -2.0% to +3.0%. Channel checks on hotel bookings for FIFA host cities indicated disappointing booking volume.
      • Denver, Miami and San Francisco were the standout MSAs in 1Q26 for both total RevPAR growth and GOP flow through per HotStats. Except for San Francisco, shadow supply RevPAR performance lagged hotels in the top MSAs.
      • Leisure dominant OTA and promo/loyalty segments led 1Q Y/Y occupancy growth while rack and group demand declined 6-7%. Brokers report strong lender appetite and tighter spreads on acquisition financing versus refinancing of existing hotels. Lenders cited fresh capital and new basis for acquisitions while having less conviction for refinancings.
      • REIT implied cap rates hovering around 8% consistent with the midpoint of the investor surveys for luxury and upper upscale segments.
      • Rooms under construction in Top 25 markets are 2.4% of existing inventory and recent openings grew 1.1%. Nashville, Miami, Phoenix, Tampa and Dallas have the most supply under construction and are either currently over supplied or markets where demand is soft due to convention center modernizations.

Download the full summary to stay up-to-date: hotelAVE Hospitality Dashboard 1Q26