The first full week of February delivered a meaningful shift in U.S. hotel performance trends. After several weeks of uneven results, national RevPAR growth accelerated, supported by strong weekday pricing, convention-driven demand, and major event activity. At the same time, the data reinforced longer-term structural themes, shaping the hospitality cycle in 2026 — including widening chain scale divergence, steady but measured core growth, and continued stratification across markets. Here’s what the latest hotel data reveals and what it means for owners and investors.
U.S. hotels opened February with renewed momentum. For the week of February 1–7, 2026, U.S. hotel RevPAR rose 2.8%, marking the strongest weekly gain in the past five weeks. Average daily rate (ADR) increased 1.7%, while occupancy climbed to 56.4%.
Weekday RevPAR led the gains, rising 3.4% as ADR increased 2.9% — the largest weekday pricing increase since early November outside of New Year’s Eve. Weekend RevPAR rose 1.4%, despite a 0.9% decline in ADR, as room demand increased by 3%. That demand increase equates to approximately 196,000 additional hotel rooms sold, the largest weekend demand gain since June 2025.
While the headline numbers suggest broad-based strength in U.S. hotel performance, a closer look shows that event-driven demand in key markets played a significant role in shaping the national RevPAR growth.
Las Vegas was the single largest contributor to national hotel RevPAR growth during the first week of February. The AHR Expo 2026, an annual HVAC convention, brought 53,300 attendees to the market from Sunday through Thursday.
Weekday RevPAR in Las Vegas increased 57.5%, resulting in a full-week RevPAR gain of 39.2%. Las Vegas alone accounted for 140 basis points of total U.S. hotel RevPAR growth.
Las Vegas has approximately 164,200 available hotel rooms on any given night. Based on attendance levels, the conference may have occupied nearly one-third of the city’s available inventory each night during its run. Preferred rates were secured at 46 of the city’s 303 hotels, 40% of which were located on the Las Vegas Strip.
This example highlights how a single large convention can materially impact national hotel industry metrics, especially in high-capacity urban markets.
The Super Bowl added another 70 basis points to national RevPAR growth.
National occupancy during Super Bowl week reached 77.2%, up 3 percentage points year-over-year. However, ADR declined from 28.5% to $352. The rate compression reflects the geographic structure of this year’s event, which was split between San Francisco and San Jose.
In San Francisco alone, occupancy rose 4.6 percentage points to 78.7%, with ADR reaching $409. Even so, ADR remained 16.9% lower than what New Orleans achieved during last year’s Super Bowl.
Meanwhile, New Orleans experienced a 59.4% decline in RevPAR this year.
The contrast underscores how hotel inventory concentration, geographic layout, and upper-tier supply influence pricing power during major events. Markets with tighter compression and less dispersed hotel supply tend to command stronger ADR growth.
To better understand underlying industry health, it is important to remove event-driven distortions:
The data suggests steady stabilization across most markets, even if growth remains moderate.
Chain scale divergence remains one of the most important structural themes in the U.S. hotel industry.
For the week, Luxury and Upper Upscale hotels posted a 5.6% increase in RevPAR. ADR in the Luxury segment rose 4.6%, reflecting sustained pricing power.
Midscale and Economy hotels saw RevPAR decline 0.3%, with ADR falling 2.4%. Demand was positive across all chain scales, but rate growth remains concentrated in higher-end properties.
This divergence is not temporary. In full-year 2025, Luxury chain scale RevPAR increased 5.1%, while Economy chain scale RevPAR declined 3.6%. The nearly 900 basis point spread was the widest annual differential between these segments since 2010 (excluding pandemic years).
Urban markets and luxury assets continue to outperform, while lower-end and select-service hotels lag. This performance gap is increasingly reflected in valuations and investor expectations.
Group demand remains a key growth driver for upper-tier hotels.
Luxury and Upper Upscale group demand increased 3.6% this week — the largest increase of the year. San Francisco saw group demand surge 131%, adding approximately 48,000 room nights due to the Super Bowl.
New York recorded a 70% increase in group demand, adding roughly 29,000 room nights. San Diego and Los Angeles each posted more than 10,000 additional group nights.
Hotels with strong convention and meeting exposure, particularly in major urban markets, continue to benefit disproportionately from group demand momentum.
Industry-wide RevPAR growth in 2025 came in approximately 250–300 basis points below beginning-of-year expectations. December 2025 and January 2026 performance was roughly flat.
Looking ahead, 2026 U.S. hotel RevPAR growth is forecast at 1.5%, including a 75–100 basis point benefit from FIFA World Cup 26.
Demand is currently down modestly, while ADR remains slightly positive. Expense pressures continue to limit hotel-level profit growth, and margins are expected to decline.
Although supply growth remains muted, occupancy in most markets is still below pre-pandemic levels, limiting ADR expansion. As a result, the 2026 outlook calls for selective growth rather than broad-based acceleration.
Salt Lake City is one of the more geographically unique hotel markets. Employment and economic metrics often incorporate Ogden to the north rather than the sparsely populated western areas. For reporting consistency, hotel and labor data frequently combine Salt Lake City and Ogden.
The Salt Lake City hotel market is becoming increasingly stratified:
The distribution is nearly balanced, but higher-end product is gaining stronger placement. As event-driven demand and group business increasingly favor upper-tier properties, this positioning may prove important for long-term market performance.
The U.S. economy added 130,000 payrolls in January 2026, well above the 70,000 forecast and significantly stronger than December’s revised 48,000 gain. Health care (+82K), social assistance (+42K), and construction (+33K) led job growth.
Federal government employment declined by 34K in January. Since peaking in October 2024, federal employment is down 327,000 jobs, or 10.9%.
The unemployment rate fell to 4.3%, while labor force participation increased to 62.5%. The broader U-6 unemployment measure declined to 8.0%.
The annual CPI slowed to 2.4%, while core inflation eased to 2.5%. Monthly CPI increased 0.2%, reflecting moderating price pressures, particularly in energy.
A cooling inflation environment combined with resilient employment trends creates a relatively stable macroeconomic backdrop for U.S. hotel demand in early 2026.
February’s hotel performance reinforces three defining themes shaping the 2026 hospitality cycle: event-driven surges can materially influence national RevPAR growth, luxury and urban assets continue to outperform lower-end chain scales, and core U.S. hotel performance remains stable but measured. While the industry is not experiencing broad-based acceleration, it is demonstrating resilience amid muted supply growth, moderating inflation, and selective demand drivers.
For hotel owners, operators, and investors, positioning remains critical. Asset quality, chain scale exposure, and market selection are driving performance dispersion across the country. If you are evaluating a hotel acquisition, disposition, refinance, or portfolio strategy, contact our team to discuss how current U.S. hotel RevPAR trends and market dynamics may impact your investment decisions in 2026 and beyond.
Jourdyn leads the strategic marketing initiatives for NewGen Advisory, overseeing brand development, market positioning, communications, and business growth efforts across the firm.
With more than a decade of experience in marketing and business development, Jourdyn specializes in building brands, creating demand-generation strategies, developing thought leadership programs, and executing integrated marketing campaigns that drive measurable business results. Her expertise spans digital marketing, public relations, content strategy, events, social media, lead generation, and corporate communications.
At NewGen, Jourdyn is responsible for shaping and executing the firm’s marketing strategy, ensuring consistent brand visibility across all channels while supporting advisors, clients, and strategic initiatives nationwide. She works closely with leadership to develop campaigns, elevate industry presence, strengthen client engagement, and position NewGen as a trusted advisor within the hospitality investment sector.
Jourdyn holds a Bachelor of Arts in Mass Communication and Media Studies from Arizona State University and a Master of Business Administration (MBA) with an emphasis in Marketing from Grand Canyon University.
Most mornings you’ll find Jourdyn in the gym before sunrise and spending time with her husband and children.
Allysia Howerton joined NewGen Advisory in 2026 as a Pipeline & Transaction Assistant, relocating from St. Louis, MO to Arizona to take on the role. She brings a background spanning property management, client services, sales, and administrative leadership, with a track record of managing complex workflows and keeping transactions moving efficiently from inception to close.
Known for her organization, attention to detail, and relationship-driven approach, Allysia supports transaction management, pipeline coordination, and day-to-day brokerage operations — and is passionate about growing her career within the hospitality real estate industry.
Outside of work, she enjoys discovering new coffee shops and restaurants, traveling to experience new cultures, and spending time with her dogs.
2 years
Josie Numedahl joined NewGen Advisory in July 2024 as a Real Estate Assistant (REA). Originally from Iowa, she relocated to Arizona to pursue her education, graduating from Grand Canyon University in 2022 with a Bachelor’s degree in Marketing and Advertising.
Josie began her professional career as a recruiter in the finance and accounting sector, and brings that client-facing, detail-oriented background to her work at NewGen.
Outside of work, she enjoys reading, hiking, exploring local coffee shops, and spending time with friends.
X years
Anthony is the Staff Accountant for NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC, working directly under CFO Michael Lepore to handle day-to-day accounting functions across all NewGen operations.
Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.
NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets.
Prior to joining NewGen, Anthony completed coursework at Paradise Valley Community College before co-founding a family business that produced custom-wrapped die-cast model cars for corporate clients — handling vehicle customization, display stands, and branded packaging. Serving as Director of Operations, he gained hands-on experience in management, production workflows, and running a business from the ground up.
Outside of work, Anthony is a lifelong ice hockey player with a passion for motorsports — particularly motocross and classic cars. Among his favorites: the 1963 C2 Corvette Sting Ray, the 1965 Shelby Cobra S/C, and the 1971 Plymouth Hemi ‘Cuda. He hopes to one day own and operate a bookkeeping firm serving small businesses.
X years
Nick serves as Director of Operations for NewGen Worldwide and NewGen Advisory, bringing a detail-oriented, forward-thinking approach to supporting the company’s continued growth. A Minneapolis native, Nick studied at Denison University and the University of Minnesota before making his way to Arizona, where he now lives in Mesa.
He spent a decade in the hospitality industry as a server, bartender, and restaurant manager — hands-on experience that gave him a strong operational foundation and a natural fit within NewGen’s hospitality-focused business.
Outside of work, Nick is an avid writer with a passion for art, photography, and travel, and enjoys documenting his experiences through the lens.
X years
Nycole serves as Chief of Staff at NewGen Advisory, where she trains and manages the Real Estate Assistant (REA) team. She works closely with REAs to ensure agents receive consistent, high-quality support throughout every stage of a deal — from contract to close.
Alongside the Office Manager, Nycole leads onboarding for new agents, REAs, and team members across NewGen Worldwide’s subsidiaries, and has developed a training library to streamline the process for incoming staff. She is also actively involved in evaluating and implementing new platforms to improve agent and REA workflows, while providing leadership with the data needed to monitor KPIs and track revenue goals.
Her background in franchise operations management — spanning startups to scaling franchises — makes her a versatile and valuable member of the NewGen team.
20+ years
Michael is the Chief Financial Officer of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions. Michael and his team oversee day-to-day accounting, budgeting, forecasting, and financial modeling across all NewGen operations.
Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.
NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets.
Prior to joining NewGen, Michael built over 20 years of experience in accounting, tax, and operations management serving small to mid-sized businesses. He holds active CPA licenses in both New York and Arizona. His career spans public accounting — including a role as Audit Manager at PricewaterhouseCoopers — as well as private accounting and business ownership, giving him a broad, hands-on command of accounting and management functions. That dual perspective allows him to bring both tax strategy and business strategy to bear when evaluating financial decisions. He is a member of the American Institute of Certified Public Accountants (AICPA) and the Arizona Society of Certified Public Accountants (ASCPA).
A proud Italian-American, Michael lives in Scottsdale with his wife, Patty, and their three children, Alyssa, Anthony, and Joey. Outside of work, he coaches ice hockey and has a passion for cooking Italian food.
X years
Kyle is a co-founder, Principal, and Chief Executive Officer of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment firm focused on creative, flexible solutions. Beyond his broad responsibilities as CEO, Kyle’s primary focus is leading Green Card Fund, developing and implementing capital solutions domestically and internationally, and identifying attractive investment opportunities.
Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.
NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, built on business partners Girish Patel and Dan Rama’s lifetime experience in the industry. Kyle’s financial acumen and creative approach to structuring deals help NewGen Advisory clients identify and secure profitable opportunities.
Kyle earned a B.A. in Interdisciplinary Studies from Arizona State University with a focus in Business and Urban Planning. He has long been involved with the Greater Phoenix Economic Council’s (GPEC) International Leadership Council, and in 2016 was elected to the Board of Directors of Invest in the USA (IIUSA), the national EB-5 trade association, where he actively contributes to legislative reform efforts and the permanent reauthorization of the EB-5 program.
Kyle splits his time between company offices in Phoenix, AZ and Washington, D.C. Outside of work, he is an avid reader, global traveler, and snowboarder — and after logging over a million miles as a passenger, he has recently taken to the cockpit, learning to fly himself.
20+ years
Girish Patel is a co-founder and Principal of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions across hospitality and healthcare. Among his core responsibilities are leading strategic initiatives, overseeing financial management, and driving real estate investment acquisitions.
Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.
NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, grounded in Girish’s and business partner Dan Rama’s lifetime experience in the industry. Having grown up in his family’s hotel business as an immigrant, Girish developed a bottom-up understanding of hospitality — mastering operations before becoming an investor, lender, and consultant. That ground-level perspective, tested across multiple economic cycles, underpins his 20+ years as a successful business owner and brings a distinctive depth of insight to NGA’s clients and investors.
Committed to continuous learning and giving back, Girish established the RC Patel Memorial Scholarship for students pursuing careers in real estate investment. He also serves on the Board of Directors of Global Ties Arizona, an organization that strengthens international relationships by making exchange programs more impactful.
X years
Dan is a co-founder and Principal of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions. His primary role is leading NewGen Advisory and serving as its Designated Broker in Arizona.
Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.
NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, built on Dan’s and business partner Girish Patel’s lifetime experience in the industry. Throughout his career, Dan has been involved in the disposition of over $600 million in hospitality assets, advising clients on acquisitions, mergers, and divestitures across the United States.
Dan began his career as a hotel operator and owner in 1994 following his studies at the University of Arizona, going on to build a portfolio as a franchisee of Red Brick Pizza, Holiday Inn, Ramada Inn, and Comfort Suites. He holds General Manager Certifications from Holiday Inn, Motel 6, and Days Inn, and is a Certified Hotel Owner (CHO) with a Certification for Hotel Industry Analytics (CHIA).
Beyond his company responsibilities, Dan is an active industry voice. He serves as an Ambassador with the Asian American Hotel Owners Association (AAHOA) — the largest hospitality owners association in the U.S. — and previously served as its Southwest Regional Director. He also sits on the Board of Directors of the Arizona Lodging and Tourism Association (AZLTA).
Dan lives in Gilbert, AZ with his wife, Chetna, their son Suraj, and their daughter Sonya. Outside of work, he enjoys golf and cheering on the Denver Broncos.
15+ years
Suraj is the Chief Legal Officer of NewGen Worldwide, LLC and a member of its senior leadership team, where he contributes to the operational management and strategic planning of the company and its subsidiaries — including Green Card Fund and NewGen Advisory. NewGen Worldwide is a diversified firm engaged in real estate investments, creative capital solutions, and advisory services for the entrepreneurial investor.
Suraj first served as outside counsel for Green Card Fund and NewGen Worldwide from 2008 to 2014 before joining the organization as Chief Legal Officer. In this role, he leads the company’s legal, regulatory, and corporate governance functions, with responsibility spanning real estate, risk management, contractual relations, and investment strategies. He also oversees the business administration of NewGen Advisory, a full-service commercial real estate brokerage specializing in hospitality assets.
Prior to joining NewGen, Suraj was Managing Partner of Bhakta & Associates, PLLC, a full-service business law firm where he represented a broad range of clients across acquisitions and sales, corporate structuring, contracts, franchise law, development and construction, and equity and debt financing.
A native of Ohio, Suraj graduated from The Ohio State University in 1999 with a B.S. in Business Administration and earned his J.D. from Case Western Reserve University in 2002. He resides in Peoria, AZ with his wife, Neena, and their two sons, Shiv and Soham.
