STR Summary for August 2021
The lodging market in the month of August 2021 continued to show improvement compared to one year ago. Minnesota’s statewide RevPAR of $73.10 in August marked a year-over-year increase of more than 73% against the month of August 2020. Year-to-date RevPAR in Minnesota was up from 2020 RevPAR through August by 38%. National year-to-date RevPAR, by comparison, was up 44.3%.
Duluth continued to lead the state in August with $143.16 RevPAR. The Duluth market’s year-to-date RevPAR in 2021 measured 54.8% higher than the first eight months of 2020, driven by a 32.7% increase in occupancy in 2021.
The Duluth and Minnesota North Area markets led the state in occupancy with over a 75% rate. The Minneapolis market occupancy notably increased in August by 4.6% compared to July but continues to see the lowest occupancy rate in the state at 42.4%. At a 61.7% occupancy rate, the entire Minnesota market narrowed the gap in August with the total United States and only trailed by 1.5%. Minnesota outperformed the total United States in August 2021 occupancy percent change from August 2020 at 40.6% compared to 29.7%.
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Each month's post summarizes the STR data for the previous month.