Research
Hotel investment research. Quarterly data, long-form analysis, market commentary.
The Matthews Hotel Index tracks cap rates, ADR, and RevPAR across fourteen U.S. hotel markets. Long-form insights cover capital markets, brand-flag economics, and disposition strategy.
The monthly rate sheet
Hotel rate sheet, October 2026
Public benchmarks and published lender-program rules, refreshed monthly. Every cell we cannot source reads “Not yet published” with a one-line reason. Machine readable at /rates.json and /rates.csv.
Open the rate sheet
Matthews Hotel Debt Index (MHDI)
A monthly, national series on one defined loan, built from quotes this desk receives. It is a separate dataset from the Matthews Hotel Index, never averaged with it, and its history is never backfilled. Methodology and rules in full.
Read the methodology
Sourced and dated hotel financing statistics, including the figures we checked and rejected, are at /data/hotel-financing-statistics.
Long-form insights
All insightsOutlook · May 2026
Texas Hotel Cap Rates Q2 2026: What Owners Should Expect
Where cap rates sit across Austin, Dallas-Fort Worth, Houston, and San Antonio, and how the second half of 2026 is likely to price.
White Paper · May 2026
Select-Service vs Full-Service Hotels: 2026 Capital Markets Outlook
Why select-service is the most-bid hospitality category in 2026, what full-service has to do to compete, and how owners should read the gap.
White Paper · May 2026
How Hotel Owners Should Navigate the 2026 Refinancing Wave
Trepp counts $18.7 billion of U.S. hotel CMBS maturing in 2026. The bridge-to-perm path, A/B note structures, and recap equity options owners should evaluate before the maturity calendar dictates the answer.
White Paper · May 2026
Sun Belt Hospitality Investment: Where the Capital Is Flowing in 2026
Texas, Tennessee, Georgia, Florida, North Carolina, and Arizona are absorbing the largest share of new hotel investment capital in 2026. The MSA-by-MSA breakdown of where bid pressure is tightest and what's driving it.
White Paper · May 2026
Hampton Inn / Holiday Inn Express / Marriott Select: 2026 Brand-Flag Cap Rate Guide
What stabilized select-service hotels actually trade for by flag, market tier, and PIP status in 2026.
White Paper · May 2026
The Complete Guide to Selling Your Hotel in 2026
A 24-week disposition playbook: from engagement letter through closing, with real timing benchmarks and fee structures.
White Paper · May 2026
Hotel CMBS Distress: How to Read the Trepp Public Data in 2026
A trade reader's guide to monthly delinquency, special servicing, modification vs. liquidation outcomes, and where the distressed hotel acquisition opportunity actually sits.
Outlook · May 2026
Hotel ADR + RevPAR Recovery: Market-by-Market 2026 Forecast
STR's first 2026 forecast puts U.S. RevPAR growth at 0.6 percent and ADR at 1.0 percent. Underneath that flat headline sits the widest market-by-market bifurcation of the cycle.