In August, Minnesota’s occupancy rate landed at 68.3%, 2.3% higher than the overall U.S. occupancy rate of 66.0%. Bloomington hotels reported the highest occupancy rate in the state at 77.1%. Following Bloomington was Duluth, which last month had an occupancy rate of 72.7%.
In August, Minnesota’s statewide RevPAR increased by 2.5% over July 2022 with a rate of $94.60. Now in Q4, we expect to see monthly RevPAR rates continue to land well above 2022 numbers. In July, Minnesota’s occupancy rate landed at 66.5%, just 2.6% under the overall U.S. occupancy rate of 69.1%. Bloomington hotels reported the highest occupancy rate in the state at 74.5%. Following Bloomington was Duluth, which last month had an occupancy rate of 73.2%.
In July, Minnesota’s statewide RevPAR increased by 1.7% over the same month in 2022 with a rate of $91.38. As we approach the end of Q3 into Q4, we hope to see monthly RevPAR rates continue to land above 2022 numbers. In June, Minnesota’s occupancy rate landed at 67.4%, just 2.3% under the overall U.S. occupancy rate of 69.7%. In June, Bloomington hotels reported an occupancy rate of 75.6%, and Minneapolis - South reported an occupancy rate of 70.9%.
In June, Minnesota’s statewide RevPAR increased by 7.2% over the same month in 2022 with a rate of $93.75. This is a very positive sign as we look toward a revival of travel across the state throughout the busier summer months. In May, Minnesota’s occupancy rate landed 6.7% higher in 2023 (56.9%) as compared to May 2022 (50.2%). While a year-over-year improvement, Minnesota's overall occupancy trailed the national occupancy average (64.8%) by 7.9%. In May, the Bloomington market once again took the top spot with an occupancy rate of 64.3%, and the Minneapolis - South Area was second with an occupancy rate of 59.7%.
|
Thanks to our STR Report Sponsor:
Access to the monthly
STR Reports is done in partnership with Explore Minnesota Tourism. Only the latest report is available at any time. If you need assistance, contact info@hospitalitymn.com. ARCHIVE
Each month's post summarizes the STR data for the previous month.
September 2023
|