STR Summary for January 2022
The entire Minnesota market saw a drop of 4.3% in occupancy rates for January compared to the previous month. The Rochester market led the state with an occupancy rate of 45.1%. The Minneapolis market had the lowest occupancy rate in the state at 23.4%. At a 38.6% occupancy rate, the entire Minnesota market trailed behind the total United States by 9.2%.
The January 2022 lodging market continued to show improvement compared to one year ago. Minnesota’s statewide January 2022 RevPAR of $39.57 marked a year-over-year increase of 60.6% against January 2021. Rochester led the state in January with $52.96 RevPAR.
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Each month's post summarizes the STR data for the previous month.