Hotel Spending Impact
Occupancy Rate: 61.6%
According to Smith Travel Research (STR), Occupancy is calculated by dividing the number of rooms sold by the rooms available.
In 2024, the occupancy rate in Fargo-Moorhead-West Fargo was 61.6%, down from 64.9% in 2023.
Demand: 1.3 million
According to STR, demand is the number of rooms sold in a specific period.
Similarly, demand was off by 4.6% at 1.3 million rooms.
Average Daily Rate: $117.18
The Average Daily Rate (ADR) measures the average rate for rooms sold. It is found by dividing room revenue by rooms sold, according to STR.
In 2024, the ADR was $117.18, this was up from 2023's $108.34
Hotel Room Spend: $155.8 million
In 2024, revenues from hotel rooms were $155,835,749, up from 2023, when room revenues were $150 million.