San Diego Hotel Market 2026
The Hotelier Times · Markets Desk
San Diego County remains one of California’s deepest lodging markets — convention-driven downtown, beach leisure on Coronado and Mission Bay, and life-science / leisure demand in La Jolla. Full-year 2024 STR performance (Tourism Economics / SDTA) averaged occupancy 74.2%, ADR $212.49 and RevPAR $157.74. Year-end 2025 closed near 72.3% occupancy and ~$213 ADR (Hotel Guru), as the 1,600-key Gaylord Pacific opened in Chula Vista. Mid-year 2026 set June records ($234.79 ADR / $198.18 RevPAR). Every figure below is linked to its source.
By Nathan Snyder, Editor, The Hotelier Times
Last updated: October 31, 2026. Refresh as new SDTA/Tourism Economics forecasts, CoStar weekly movers, Atlas surveys, and hotel sales are published.
Latest news about San Diego
- San Diego Resorts Up 14%, Downtown Down 4.5% for Pebblebrook Pebblebrook’s San Diego resorts posted +14% RevPAR in Q3 while downtown fell 4.5%, per the Oct. 30 call and Oct. 29 release.
San Diego hotel market at a glance
San Diego County’s STR sample (SDTA / Tourism Economics) is the primary Occ/ADR/RevPAR series for county totals. CoStar weekly Top-25 metro movers are a separate sample — each is labeled separately and not combined. Submarket cuts appear in CoStar-based local commentary (Rauch).
Gaylord Pacific’s May 2025 opening is the largest single supply event in more than two decades and is reshaping Chula Vista / South (June 2026 South RevPAR +42.4% YoY per Rauch).
2024–2025: soft landing into Gaylord supply
Full year 2024 (STR via SDTA/Tourism Economics): occupancy 74.2%, ADR $212.49, RevPAR $157.74 (+2.3%), room revenue $3.72 billion. SDTA / TE
Full year 2025 — two figures, keep both:
- Tourism Economics July 2025 forecast (not year-end actual): occupancy 72.7%, ADR $213.08, RevPAR $154.96 (−1.8%).
- Hotel Guru year-end reported close: occupancy 72.3%, ADR ~$213. Both the 72.3% and 72.7% figures are shown; they are not averaged.
Atlas Hospitality 2025 YE survey: San Diego County 17 hotel sales totaling $469.4 million (−22% dollar volume), median price per room up 23% to ~$248k.
2026: June records, mid-year RevPAR revision higher
June 2026 (Rauch mid-year review): occupancy 84.4%, ADR $234.79 (+6.9%; June ADR record), RevPAR $198.18 (+12.0%; all-time June RevPAR record). Chula Vista / South RevPAR +42.4% in June on Gaylord ramp-up. Rauch / Hotel Online
Rauch revised full-year 2026 RevPAR tracking toward roughly 5%, while Tourism Economics’ July 2025 forecast showed only +0.1% RevPAR for 2026 — both outlooks are shown with their dates.
CoStar weekly (separate sample): week ending Aug 15, 2026 — ADR $249.71 (+12.6%), RevPAR $201.10 (+22.8%); week ending Oct 17, 2026 — ADR $246.06 (+12.6%), RevPAR $199.14 (+18.5%). CoStar
Monthly / period tracker
| Period | Geography | Occ | ADR | RevPAR | Source |
|---|---|---|---|---|---|
| FY 2024 | County | 74.2% | $212.49 | $157.74 | SDTA / TE |
| FY 2025 (TE Jul forecast) | County | 72.7% | $213.08 | $154.96 | TE FORECAST |
| FY 2025 (Hotel Guru close) | County | 72.3% | ~$213 | — | Hotel Guru |
| Jun 2026 | County | 84.4% | $234.79 | $198.18 | Rauch |
| T12 ~Aug 2025 | CBD | 73.3% | $269.48 | $197.64 | Rauch citing CoStar |
| T12 ~Aug 2025 | La Jolla | 74.7% | $261.35 | $195.31 | Rauch citing CoStar |
| Wk end Oct 17 2026 | Metro (CoStar) | — | $246.06 | $199.14 | CoStar |
Performance by submarket (T12 ~Aug 2025)
| Submarket | Occ | ADR | RevPAR |
|---|---|---|---|
| San Diego CBD | 73.3% | $269.48 | $197.64 |
| San Diego / La Jolla | 74.7% | $261.35 | $195.31 |
| Mission Valley | 73.9% | $165.36 | $122.13 |
| SeaWorld / Old Town / Airport | 76.2% | $203.87 | $155.30 |
Rauch citing CoStar, Sep 30, 2025
Hotel pipeline 2025–27
As of August 2025 Rauch counted 10 hotels / 1,328 rooms under construction (~1.9% supply growth through 2027).
| Hotel / project | Keys | Status | Source |
|---|---|---|---|
| Gaylord Pacific Resort & CC | 1,600 | Opened May 15, 2025 | Port of San Diego |
| Element Mission Valley | 150 | Opened by mid-Jun 2026 | Registry SoCal |
| The Margot (Outset by Hilton) | 135 suites | Opened May 7, 2026 | Hilton Stories |
| Baby Grand Coronado | 31 | Opened May 14, 2026 | CBS8 |
| Tru + Home2 Downtown | 133 + 130 | Apr 2026 targets | Rauch |
| Le Méridien San Diego Pinnacle | 231 | Jan 2027 (NewHotels) vs Jun 2026 (Rauch Sep 2025) — sources differ | NewHotels / Rauch |
| Fairfield + SpringHill Airport | 128 + 119 | May 2027 | Rauch |
Landmark hotels
Gaylord Pacific — 1,600 keys; opened May 15, 2025; ~$1.35B; first West Coast Gaylord.
Hilton La Jolla Torrey Pines — 394 keys; JRK from Braemar $165M (Jul 2024).
Embassy Suites La Jolla — 340 suites; Ascendant from BioMed/Blackstone $111M (~Dec 2025).
U.S. Grant Hotel — 270 keys; $41.6M CMBS current but 0.57x DSCR watchlist; matures Mar 1, 2027.
AC Hotel Downtown Gaslamp — 147 keys; Pyramid JV Sep 2025 (reported prices differ: $48.7M vs $70.75M).
Recent San Diego County hotel sales
Housing conversions are labeled and are not blended into operating-hotel $/key averages. AC Hotel Gaslamp’s differing reported prices are shown side-by-side.
| Closed | Asset | Keys | Price | Notes | Source |
|---|---|---|---|---|---|
| Jul 17, 2024 | Hilton La Jolla Torrey Pines | 394 | $165M | Eastdil brokered | CO / Braemar |
| Aug 2024 | ESA Hotel Circle (Presidio Palms) | 165 | $57M | Housing conversion | SDHC |
| Q1 2025 | DoubleTree Downtown | 333 | $67.2M | ~$202K/key | LWHA |
| Q2 2025 | Residence Inn La Jolla | 288 | $79.3M | ~$275K/key | LWHA / Hotel Guru |
| Q3 2025 | AC Hotel Gaslamp | 147 | $48.7M or $70.75M | Sources differ | Hotel Guru / LWHA |
| ~Dec 2025 | Embassy Suites La Jolla | 340 | $111M | Highest 2025 County $ | U-T / Atlas |
| Jun 9, 2026 | Sheraton Mission Valley | 260 | $45.3M | Largest H1 2026 County | Ashford 8-K |
Atlas: County investment $469.4M / 17 sales in 2025; H1 2026 $143M / 9 sales.
Investment volume and distress / capital context
- U.S. Grant CMBS: $41.6M BANK 2017-BNK4; current; DSCR 0.57x; NOI $1.8M vs $6.6M UW; matures Mar 1, 2027; watchlist since Jun 2026. Do not assert special servicing. cmbs.news
- Rauch (Sep 2025) cited 1 San Diego hotel loan already in special servicing and 7 on watchlists among near-term maturities — property names were largely not named in free sources reviewed for this page.
Visitors and Transient Occupancy Tax (TOT)
Tourism Economics’ July 2025 forecast assumed soft international overnight arrivals in 2025, with group demand supported by Gaylord Pacific’s induction into the County supply.
Top owners, operators and brokers
Owners / buyers: JRK (Torrey Pines), Noble (DoubleTree Downtown), Ascendant (Embassy Suites La Jolla), Capital Insight (RI La Jolla), Pyramid JV (AC Gaslamp), Hotel Circle Holdings (Sheraton MV), RIDA (Gaylord).
Brokers: Eastdil confirmed on Torrey Pines; Atlas for survey commentary. CBRE / JLL / Newmark broker-of-record credits on 2025–26 County hotel closings were not found in free PR reviewed for this page.
San Diego hotel market FAQ
What is hotel occupancy in San Diego in 2026?
San Diego County occupancy reached 84.4% in June 2026 (Rauch). Hotel Guru reported 2025 closed at 72.3%.
What is the average hotel rate in San Diego?
June 2026 set all-time June records with ADR of $234.79 and RevPAR of $198.18. Full-year 2024 ADR was $212.49 (SDTA / Tourism Economics, STR data).
How did the Gaylord Pacific change San Diego's hotel market?
The 1,600-key Gaylord Pacific opened in Chula Vista in May 2025, the largest single supply event in more than two decades, and South County RevPAR rose 42.4% in June 2026 (Rauch).
What are the biggest recent San Diego hotel sales?
The Hilton La Jolla Torrey Pines sold for $165 million in July 2024, and the Embassy Suites La Jolla sold for $111 million in December 2025, the highest 2025 county price.
Are San Diego resorts outperforming downtown?
Yes. Pebblebrook's San Diego resorts posted 14% RevPAR growth in Q3 2026 while its downtown hotels fell 4.5%.
Sources and methodology
Published figures only. Housing conversions labeled. Conflicts (AC Hotel price; 2025 occ 72.3% vs 72.7%; 2026 RevPAR TE +0.1% vs Rauch ~5%; Le Méridien open date) kept side-by-side.