To measure the impact of the FIFA World Cup in eleven U.S. cities, we compare occupancy rates, ADR, RevPAR, and rooms revenue during the weeks of World Cup matches to the same weeks in 2025, as adjusted for the expected change in these variables in the absence of the FIFA events. We demonstrate a wide variance in the impact in host cities and discuss the underlying factors that influence these differences.

The summer is off to a roaring start for the U.S. hotel sector, with weekly RevPAR gains averaging roughly 8.0% in June and early July. Our RevPAR growth forecast reflects 4.5% for 2026, which takes into consideration that this recent growth, partly fueled by the World Cup matches, will wane somewhat in the second half of the year.

Less than two years after Hurricanes Helene and Milton reshaped Florida's Gulf Beaches, the Pinellas beachfront lodging market is demonstrating remarkable resilience through renewed tourism demand, major resort reinvestment, and a growing development pipeline.

The U.S. hotel sector continues to show strength, with weekly RevPAR gains averaging 4.0% YTD through May and exceeding 5.0% in recent weeks. Our latest RevPAR growth forecast reflects 3.0% for 2026, which may be on the conservative side if elevated travel trends continue through the summer vacation and fall convention seasons.

The U.S. hotel sector continues to show strength, with weekly RevPAR gains averaging 4.0% YTD through April and exceeding 4.0% in recent weeks. We have updated our RevPAR growth forecast for 2026 from 2.2% to 3.0%, and this may be on the conservative side if elevated travel trends continue through the summer vacation and fall convention seasons.

The Manhattan market has continued to achieve strong ADR growth in recent years. Occupancy, however, still lags the historical peak. Although legislative and supply changes should bolster this recovery, recent geopolitical factors, tariffs, and federal policy changes are expected to affect short-term hotel market trends. Our forecast shows full recovery beyond 2019 levels for all hotel metrics by 2027/28.

U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and lackluster job growth. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement and ADR gains.

U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and longer security lines at airports. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement (as we expected).

Optimism took center stage at this year’s Hunter Conference, with continued strength in luxury and upper-upscale properties driving greater investor interest. The industry remains hopeful that the FIFA World Cup will prove to be a windfall, Middle East conflicts will soon be resolved, and gas prices will stabilize, leading to a stronger second half of 2026 for RevPAR growth, hotel pricing, and transactions.

U.S. hotels had a difficult year in 2025, with RevPAR down 0.3%—the first non-recessionary decline on record. Conditions are improving, and 2026 appears to be a stabilization year. This playbook examines the pricing floor, segment performance variations, and PIP and debt maturity pressures. It also includes a “seller-readiness checklist” for timing a sale.