The entire Minnesota market saw a slight increase of 0.3% in occupancy rates for August compared to the previous month. The Duluth market continued to lead the state with an occupancy rate of 79% (up 1.4% over July), while the Rochester market continued to experience the lowest occupancy rate in the state at 58.7%, though up from 55.5% in July. At a 68.9% occupancy rate, up 0.3% from July, the entire Minnesota market surpassed the United States total by 2.4%. By contrast, the Minneapolis market continues to be off pre-pandemic levels on occupancy by 23 points.
The August lodging market continued to show improvement compared to one year ago. Minnesota’s statewide August 2022 RevPAR of $92.29 increased over July and marked a year-over-year increase of 26.25% against August 2022. The year-to-date RevPAR in Minnesota was up from 2021 RevPAR through August by 40%. Again this month, Minneapolis continued to see significant improvement compared to 2021 in both occupancy rate and RevPAR.
Thanks to our STR Report Sponsor:
Access to the monthly
STR Reports is done in partnership with Explore Minnesota Tourism.
Only the latest report is available at any time.
If you need assistance, contact Sam Adams.
Each month's post summarizes the STR data for the previous month.