STR Summary for September 2022

The entire Minnesota market saw a drop of 4.2% in occupancy rates for September compared to the previous month. This is not unexpected with the start of fall and tourism season at a close. The Duluth and Bloomington markets led the state with occupancy rates over 70%, while the Rochester market continued to experience the lowest occupancy rate in the state at 56.3%. At a 64.7% occupancy rate, the entire Minnesota market trailed the United States total by 2%.  
 
The September lodging market continued to show improvement compared to one year ago. Minnesota’s statewide September 2022 RevPAR of $83.91 marked a year-over-year increase of 32.3% against September 2021. The year-to-date RevPAR in Minnesota was up from 2021 RevPAR through September by 38.9%. Again this month, Minneapolis continued to see significant improvement compared to 2021 in both occupancy rate and RevPAR.