2026 HVS Lodging Tax Report - USA
Why this matters
Hospitality has separated by chain scale and demand segment, with luxury and resort outperforming and select-service holding pricing power on a leaner cost base. New construction starts remain at multi-decade lows, which has supported in-place RevPAR and made conversions of soft-branded flags an increasingly active part of transaction velocity. For sponsors with operational expertise, the sector continues to offer one of the more compelling income-plus-appreciation profiles available across CRE.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed hospitality deal value tracked in October 2026: $1.2B across 9 reported transactions. All Hospitality coverage →
Computed from Real Estate Trail’s own tracked coverage
HVS's 16th annual US lodging tax study covers all 50 states and the 150 largest cities, finding more markets declining than growing in 2025 but broad RevPAR recovery through August 2026.
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