It looks like The Hobbit, which is now a trilogy by the way, will only be shown in limited amounts of cinemas in 48 fps. Variety reports that according to a source familiar with Warner's release plans for the first Hobbit movie, is that the HFR version will only hit select locations, and maybe not even major cities.
Though, people who have had the pleasure of eyeballing the 48 fps version of the movie have said that it now looks much better than the test footage shown at CinemaCon back in April, which had not "undergone post-production polishing" and received a mixed reception from viewers. Warner's wants to protect the HFR format, where they'll be going into a limited release for the HFR version of the movie, hoping that they'll be able to test the marketplace and expand the HFR release for the second, and third Hobbit movies.
Right now, there are no HFR-ready theaters, with some requiring a simple software upgrade that will be ready next month. It also looks like HFR is the future, where myself, and many people in the industry seem to think its going to take off. Does someone want to find me a theater, and fly me over to the US to watch it at 48 fps? Drool.