STR Summary for April 2022
The entire Minnesota market saw an increase of 2.4% in occupancy rates for April compared to the previous month. The Bloomington market led the state with an occupancy rate of 57.9%. Although the Minneapolis market had the lowest occupancy rate in the state at 43.2%, this rate was an increase of 3% compared to the previous month. At a 50.8% occupancy rate, the entire Minnesota market trailed behind the total United States by 14.7%.
The April lodging market continued to show improvement compared to one year ago. Minnesota’s statewide April 2022 RevPAR of $57.25 marked a year-over-year increase of 46.2% against April 2021, and year-to-date RevPAR in Minnesota was up from 2021 RevPAR through April by 54.9%. Bloomington led the state in April with $74.02 RevPAR.
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Each month's post summarizes the STR data for the previous month.