STR Summary for July 2021
The hotel market in the month of July 2021 continues to show improvement compared to one year ago. Minnesota’s statewide RevPAR of $73.40 in July marked a year-over-year increase of more than 83% against the month of July 2020. Year-to-date RevPAR in Minnesota was up from 2020 RevPAR through July by 31.5%. National year-to-date RevPAR, by comparison, was up 39.6% through July.
Duluth continued to lead the state in July with $143.58 RevPAR. The Duluth market’s year-to-date RevPAR in 2021 measured 60.5% higher than the first seven months of 2020, driven by a 31.3% increase in occupancy in 2021.
The Duluth, Minnesota North Area and Mankato markets led the state in occupancy all with over a 70% rate. The Minneapolis market occupancy increased this month but continues to see the lowest occupancy rate in the state at 37.8%. The occupancy rate for the entire Minnesota market improved in July by 4.3% compared to the month prior. At a 63.5% occupancy rate, the entire Minnesota market is closing the gap with the total United States and only trails behind by 6.1%.
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Each month's post summarizes the STR data for the previous month.