What inventory can actually be supported?
The most defensible public anchor is a room count, not an opaque commercial market forecast. Bardoul’s boutique universe includes independent hotels, soft-brand collections and lifestyle hotels; it is broader than this desk’s target.
| 2025 supply category | Reported inventory |
|---|---|
| All boutique categories | 338,158 rooms across 2,313 properties |
| Independent boutiques | 95,846 rooms |
| Soft-brand collections | 115,367 rooms |
| Lifestyle hotels | Nearly 127,000 rooms |
Source: Kim Bardoul’s discussion of the Boutique Hotel Report 2026, published by CoStar on June 24, 2026. These are publisher-classified inventories, not a 30–150-room census. (costar.com)
Independent and soft-brand inventory together equals 211,213 rooms, a desk calculation from the reported categories. The property-size filter is unavailable in the public material reviewed. (costar.com)
What annual room-revenue estimate is defensible?
Approximately $21.3 billion is an annualized room-revenue proxy—not reported 2025 revenue, asset value or transaction volume. The desk calculated it on October 19, 2026:
338,158 rooms × 365 days × 67% occupancy × $258 ADR ≈ $21.3 billion.
The inventory comes from Bardoul’s published analysis; the operating inputs are its rounded 2025 occupancy and average daily rate. The calculation assumes year-end inventory is available throughout the year and excludes food, beverage and other ancillary revenue. (costar.com)
How buyers should use this estimate: as an order-of-magnitude check only. A measured revenue total requires time-weighted available room nights, consistent reporting participation and treatment of seasonal closures. Do not label this proxy the revenue of 30–150-room independent hotels, and do not turn it into a market-value estimate by applying a revenue multiple.
The desk does not adopt the supplied working revenue range or multi-year growth assumptions as verified statistics. This public-source review supports a clearer inventory anchor, but not a precise total for the intended acquisition niche.