The 2026 FIFA World Cup has a timing problem, at least if you’re a hotel operator in a host city. Stadium seats have been filling up since June 11, but the real money doesn’t show up until the tournament’s final rounds. With semifinals set for July 14 in Dallas and July 15 in Atlanta, those cities are about to experience what economists politely call “concentrated demand.”

National hotel demand across the US has risen just 2.4% despite millions of fans attending matches across 16 host cities in the US, Canada, and Mexico. Kansas City, which hosted earlier matches, saw a 32% increase in hotel bookings at peak times. But several other host cities actually reported declines, with one location experiencing a…