This 16th annual Lodging Tax Study presents data on city, state, and special district lodging and sales taxes imposed on lodging sales. We provide historical data on tax rates and collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest US cities. Our analysis of 25 major U.S. hotel markets shows more markets declining than growing in 2025. Through August 2026, RevPAR rose in all but one market, signaling broad-based improvement in hotel performance.

Our forecast is anticipating a strong fall meeting and convention season, following very solid summer performance. ADR is the star of the show this year, with a robust stock market and a propensity for booking more luxury and upper-upscale stays lifting the overall average well beyond initial expectations. Other factors currently impacting our industry include inflation and staffing challenges.

The Caribbean hospitality market is undergoing a transformative period of growth, characterized by substantial new hotel development, expanding branded residential offerings, and continued investor interest. This article highlights the projects, trends, and opportunities shaping the future of Caribbean tourism and hospitality and previews the development pipeline to be presented at the upcoming CHICOS conference in November.

The tone of this year’s Lodging Conference was measured optimism, as strong 2026 RevPAR growth and limited new supply support the industry outlook. However, rising operating costs, expensive debt, loan maturities, and geopolitical risks continue to pressure profitability. Owners are increasingly focused on AI adoption, active asset management, brand economics, and converting revenue increases into asset value.

Downtown Dallas hotels are navigating convention-center disruption, corporate relocations, and sports venue shifts, with FIFA boosting 2026 rates. While occupancy may remain soft until the revamped convention center reopens in 2030, factors such as Uptown development, elevated hotel/residence projects, airport investments, and major projects support a strong longer-term outlook.

Our forecast is anticipating a strong fall meeting and convention season, following very solid summer performance. ADR is the star of the show this year, with a robust stock market and a propensity for booking more luxury and upper-upscale stays lifting the overall average well beyond initial expectations. Other factors currently impacting our industry include youth sports and staffing challenges.

Houston is no stranger to major sporting events, having hosted Super Bowls, Final Fours, and College Football Playoff games. FIFA 2026 added another chapter, drawing an estimated 500,000 out-of-town visitors to Houston, according to the Harris County–Houston Sports Authority. While Houston hotels did not see a broad occupancy surge, they found meaningful pricing power around the matches.

The St. Louis lodging market struggled to find its footing in the aftermath of the COVID-19 pandemic but appeared to turn a corner in 2025 and continued to strengthen this year. Numerous recent and ongoing developments and initiatives support a positive outlook for market hotels.

This summer has been strong for the U.S. hotel sector, with weekly RevPAR gains averaging near 8.0% in June and early July, cooling slightly into 6.0% to 7.0% in August. Our RevPAR growth forecast reflects 4.5% for 2026 given the expectation that recent growth, partly fueled by World Cup matches and heightened vacation travel, will wane somewhat in the final months of the year.

Despite ongoing global geopolitical and economic uncertainty, the Canadian hotel industry continues to deliver impressive results. RevPAR grew by 4.0% in 2025, and June year-to-date performance is up a further 6.5%. This momentum is being driven by strong domestic travel, Canada’s designation as a favoured travel destination by China, increased international demand that may previously have gone to the U.S., and the partial return of U.S. travellers attracted by the favourable exchange rate.