STR Summary for December 2021
The entire Minnesota market saw a drop of 2.4% in occupancy rates for December compared to the previous month. The Duluth market led the state with an occupancy rate of 52.2%. The Minneapolis market had the lowest occupancy rate in the state at 30.3%. At a 42.9% occupancy rate, the entire Minnesota market trailed behind the total United States by 10.4%.
The December 2021 lodging market continued to show improvement compared to one year ago. Minnesota’s statewide December 2021 RevPAR of $45.36 marked a year-over-year increase of 118.3% against December 2020, and year-to-date RevPAR in Minnesota was up from 2020 RevPAR through December by 50.5%. National year-to-date RevPAR, by comparison, was up 58.1%. Duluth continued to lead the state in December with $68.16 RevPAR. The Duluth market’s year-to-date RevPAR in 2021 measured 55.5% higher than that of 2020, driven by a 33.7% increase in occupancy in 2021.
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Each month's post summarizes the STR data for the previous month.