STR Summary for July 2023

​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.