Phoenix Hotel Market 2026: Occupancy, ADR, RevPAR and Recent Sales
Phoenix’s hotel market in 2026: a strong first quarter, a softer late summer, and two of the year’s biggest resort deals in Scottsdale. This page tracks the numbers that matter to owners, buyers and lenders, and every Phoenix-area sale logged in the Hotelier Times Transaction Tracker.
Last updated: October 21, 2026 · Refreshed as new monthly data and transactions come in.
Source: Kalibri Labs data, as reported by Hotel Guru (October 19, 2026).
2026 performance at a glance
Phoenix started 2026 fast. RevPAR grew 7% to 8.5% in each month of the first quarter, and the market is still up about 5.2% for the year. September broke the streak: RevPAR fell 3.8% to $88.45, on occupancy down 2.4% to 62.3% and ADR down 1.4% to $141.94, the first year-over-year decline since November, according to Kalibri Labs data reported by Hotel Guru.
September is the tail end of Phoenix’s off-season, so one soft month says more about summer than about the year. The test comes now: with the high season starting, Hotel Guru’s Robert Rauch advises Phoenix hotels to hold rate through October and November rather than discount to chase occupancy. Phoenix also had the lowest booking cost per room night of the six markets the report tracks, at $3.34.
Pipeline, mid-2026
| Stage | Projects | Rooms |
|---|---|---|
| Total pipeline | 115 | 16,136 |
| Under construction | 31 | 4,621 |
| Forecast to open in 2026 | 26 | 3,615 |
| Forecast to open in 2027 | 16 | 1,989 |
| New projects announced in Q2 | 8 | 1,641 |
Source: Lodging Econometrics, U.S. markets hotel construction pipeline, Q2 2026. The 3,615 rooms opening in 2026 is meaningful new supply for a market whose occupancy just turned negative.
Phoenix-area hotel transactions, 2026
From the Hotelier Times Transaction Tracker and the Hotel Deal Map. Price per key is shown only where a price was publicly disclosed.
| Date | Hotel | City | Keys | Price | Per key | Buyer / seller |
|---|---|---|---|---|---|---|
| June 2026 | Graduate by Hilton Tempe | Tempe | 140 | Not disclosed | — | NewcrestImage |
| Sept 29, 2026 | Four Seasons Resort Scottsdale | Scottsdale | Not stated | $372M | About $1.8M (Braemar’s count) | Under agreement; seller Braemar Hotels & Resorts; closing expected Oct. 22 |
| Oct 1, 2026 | Fairmont Scottsdale Princess | Scottsdale | 750 | $241.4M for the hotel portion, per property records | About $322,000 | San Manuel Investment Authority (Yuhaaviatam of San Manuel Nation) |
The Fairmont price was not officially announced; The Real Deal reported the $241.4 million figure from property records, covering the hotel, its furnishings and its parking.
Know of a Phoenix hotel sale we missed? Send it to the Transactions Desk.
Phoenix-area hotels for sale now
Our Hotels for Sale roundup has no Phoenix-area listings this week. The one Arizona listing is a 100-key full-service Clarion Inn in southeastern Arizona, offered at $6.1 million (about $61,000 a key); see the Arizona hotels for sale page. Selling a Phoenix hotel? List it with us for a flat monthly fee, no commission.
What’s driving Phoenix
- Luxury resorts are changing hands. The Fairmont Scottsdale Princess sold to a tribal investment authority at about $322,000 a key, and the Four Seasons Resort Scottsdale is under agreement at $372 million. Both are on the Hotel Deal Map.
- A strong first half, a weaker September. Year-to-date RevPAR is still up about 5%, but September’s decline was the first since November.
- Rate discipline into high season. Phoenix’s busy season runs from fall through spring, which is why Hotel Guru warns against discounting now to chase occupancy.
- Heavy new supply. Lodging Econometrics forecasts 26 hotels with 3,615 rooms to open in Phoenix in 2026 and 16 more with 1,989 rooms in 2027.
- Buyers like lifestyle and college-town hotels. NewcrestImage bought the Graduate in Tempe, next to Arizona State University, in June.
Run your own numbers with our price per key and cap rate calculators, and compare brand costs with our franchise fee comparison.
Sources
- Hotel Guru, October 2026 hotel market update (Kalibri Labs data, Oct. 19, 2026)
- Lodging Econometrics, U.S. markets hotel construction pipeline, Q2 2026
- The Real Deal, Fairmont Scottsdale Princess sells to tribe (Oct. 8, 2026)
- Hotel Online, Southern California tribe buys Fairmont Scottsdale Princess
- REBusinessOnline, Braemar to sell Four Seasons Resort Scottsdale for $372M
- Hotel Online, NewcrestImage acquires Graduate Hotel in Tempe (June 17, 2026)
Phoenix hotel market FAQ
How is the Phoenix hotel market doing in 2026?
Phoenix is up about 5.2% in RevPAR for the year after a strong first quarter, but September 2026 was down: occupancy 62.3%, ADR $141.94 and RevPAR $88.45, down 3.8%, per Kalibri Labs data reported by Hotel Guru.
How many hotels are being built in Phoenix?
Lodging Econometrics counts 115 projects with 16,136 rooms in the Phoenix pipeline as of Q2 2026, including 26 hotels with 3,615 rooms forecast to open in 2026.
What did the Fairmont Scottsdale Princess sell for?
The Real Deal reported $241.4 million for the hotel portion, per property records, about $322,000 per key on 750 keys. The buyer is the San Manuel Investment Authority.
Is the Four Seasons Resort Scottsdale for sale?
Braemar Hotels & Resorts agreed to sell it for $372 million, with closing expected October 22, 2026.
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