STR Summary for March 2022

The entire Minnesota market saw an increase of 5.1% in occupancy rates for March compared to the previous month. The Bloomington market led the state with an occupancy rate of 60%. The Minnesota South Area (excluding Mankato) market had the lowest occupancy rate in the state at 40%. The Minneapolis market saw an increase of 11.9% in occupancy rate compared to last month, bringing it to 40.2%. At a 48.4% occupancy rate, the entire Minnesota market trailed behind the total United States by 15.6%.  


The March lodging market continued to show improvement compared to one year ago. Minnesota’s statewide March 2022 RevPAR of $53.83 marked a year-over-year increase of 59.6% against March 2021, and year-to-date RevPAR in Minnesota was up from 2021 RevPAR through March by 58.9%. Bloomington led the state in March with $77.97 RevPAR.