STR Summary for April 2021
The hotel market in the month of April 2021 showed dramatic improvement compared to one year ago. Minnesota’s statewide RevPAR of $39.18 in April marked a year-over-year increase of more than 200% against the month of April 2020. Year-to-date RevPAR in Minnesota, however, lagged 2020 RevPAR through April by 13.1%. National year-to-date RevPAR, by comparison, was down 6.0% through April.
Duluth continued to lead the state in April with $50.85 RevPAR. The Duluth market’s year-to-date RevPAR in 2021 measured 19.0% higher than the first four months of 2020, driven by a 16.5% increase in occupancy in 2021.
The Minneapolis-St. Paul market extended its run of improved performance in April with a 23.0% month-over-month increase in RevPAR compared to March 2021. The Bloomington market led the metro area in April with occupancy exceeding 50% for the month. Through April, the Twin Cities’ year-to-date RevPAR is still 28.6% below the level recorded in the first four months of 2020, as the industry’s gradual recovery will continue into the summer.
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