​In February, Minnesota’s occupancy rate landed 2.7% higher in 2023 (46%) as compared to February 2022 (43.3%). While a year-over-year improvement, Minnesota's overall occupancy trailed the national occupancy average (60%) by 14%. In February, the Bloomington market once again took the top spot with an occupancy rate of 56.7%, Rochester was second with an occupancy rate of 51.1%. Minneapolis occupancy came in at 33.6%.
 
The Febraury report showed Minnesota’s statewide February 2023 RevPAR of $53.14 came in with a year-over-year increase of around 14%. Continuing the trend over the past several months, the Minneapolis market experienced significant 5% occupancy improvement vs. 2022. This is a very positive sign as we look toward the busier spring and summer months with increased corporate and leisure travel. 

​In January, Minnesota’s occupancy rate landed 4.9% higher in 2023 (43.5%) as compared to January 2022 (38.6). While a year-over-year improvement, Minnesota's overall occupancy trailed the national occupancy average (52.8%) by over 9%. In January, the Bloomington market once again took the top spot with an occupancy rate of 52.4%, Rochester was second with an occupancy rate of 49.7%. Minneapolis occupancy came in at 31.9%.
 
The January report showed Minnesota’s statewide January 2023 RevPAR of $49.34 came in with a year-over-year increase of nearly 25%. Continuing the trend over the past several months, the Minneapolis market experienced significant improvement vs. 2022. This is a very positive sign as we look toward the busier spring and summer months with increased corporate and leisure travel. 

​The entire Minnesota market saw a drop of 4.4% in occupancy rates for October compared to the previous month. The Duluth market led the state with an occupancy rate of 67.7%, while the Minneapolis market experienced the lowest occupancy rate in the state at 55.4%. At a 60.3% occupancy rate, the entire Minnesota market trailed the United States total by 6.9%. 
  
The October lodging market continued to show improvement compared to one year ago. Minnesota’s statewide October 2022 RevPAR of $76.06 marked a year-over-year increase of 22% against October 2021. The year-to-date RevPAR in Minnesota was up from 2021 RevPAR through October by 36.7%. Again this month, Minneapolis continued to see significant improvement compared to 2021 in both occupancy rate and RevPAR. 

The entire Minnesota market saw a slight increase of 0.3% in occupancy rates for August compared to the previous month. The Duluth market continued to lead the state with an occupancy rate of 79% (up 1.4% over July), while the Rochester market continued to experience the lowest occupancy rate in the state at 58.7%, though up from 55.5% in July. At a 68.9% occupancy rate, up 0.3% from July, the entire Minnesota market surpassed the United States total by 2.4%. By contrast, the Minneapolis market continues to be off pre-pandemic levels on occupancy by 23 points.

The August lodging market continued to show improvement compared to one year ago. Minnesota’s statewide August 2022 RevPAR of $92.29 increased over July and marked a year-over-year increase of 26.25% against August 2022. The year-to-date RevPAR in Minnesota was up from 2021 RevPAR through August by 40%. Again this month, Minneapolis continued to see significant improvement compared to 2021 in both occupancy rate and RevPAR.

The entire Minnesota market saw a slight increase of 1% in occupancy rates for July compared to the previous month. Once again, the Duluth market led the state with an occupancy rate of 77.6% (up over June), while the Rochester market continued to experience the lowest occupancy rate in the state at 55.5%. At a 68.6% occupancy rate, the entire Minnesota market continued to close the gap and now trails behind the total United States by only 1%.

The July lodging market continued to show improvement compared to one year ago. Minnesota’s statewide July 2022 RevPAR of $91.15 increased over June and marked a year-over-year increase of 24.1% against July 2021, and year-to-date RevPAR in Minnesota was up from 2021 RevPAR through July by 43.4%. Again this month, Minneapolis continued to see significant improvement compared to 2021 in both occupancy rate and RevPAR.

​The entire Minnesota market saw an increase of 10% in occupancy rates for June compared to the previous month. The Duluth market led the state with an occupancy rate of 74.6%, while the Rochester market had the lowest occupancy rate in the state at 57.6%. At a 67.6% occupancy rate, the entire Minnesota market trailed behind the total United States by only 2.5%.    
  
The June lodging market continued to show improvement compared to one year ago. Minnesota’s statewide June 2022 RevPAR of $86.99 marked a year-over-year increase of 38.7% against June 2021, and year-to-date RevPAR in Minnesota was up from 2021 RevPAR through June by 49.7%. Minneapolis continues to see significant improvement compared to 2021 in both occupancy rate and RevPAR.

The entire Minnesota market saw an increase of 6.8% in occupancy rates for May compared to the previous month. The Bloomington market led the state with an occupancy rate of 60.9%. The Minnesota North Area market had the lowest occupancy rate in the state at 54.1%, but this rate was an increase of 0.8% compared to the previous month. At a 57.6% occupancy rate, the entire Minnesota market trailed behind the total United States by 7.5%.

The May lodging market continued to show improvement compared to one year ago. Minnesota’s statewide May 2022 RevPAR of $67.60 marked a year-over-year increase of 51.6% against May 2021, and year-to-date RevPAR in Minnesota was up from 2021 RevPAR through May by 53.8%. Minneapolis saw significant improvement compared to the month prior and led the state in May with $97.79 RevPAR.