STR Summary for September 2021

​The entire Minnesota market saw a drop of 5.9% 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, Minnesota North Area, Mankato and Minnesota South Area markets led the state with an occupancy rate over 60%. The Minneapolis market had the lowest occupancy rate in the state at 38.4%. Despite this decline in Minneapolis, this rate is still higher than the rate in July. At a 55.8% occupancy rate, the entire Minnesota market trailed behind the total United States by 5.8%, though Minnesota outperformed the total United States in September, year-over-year occupancy percentage change from 29.5% to 27.6%.
 
The September 2021 lodging market continued to show improvement compared to one year ago. Minnesota’s statewide September 2021 RevPAR of $63.37 marked a year-over-year increase of more than 56% against September 2020, and year-to-date RevPAR in Minnesota was up from 2020 RevPAR through September by 40.4%. National year-to-date RevPAR, by comparison, was up 47.3%. Duluth continued to lead the state in August with $119.77 RevPAR. The Duluth market’s year-to-date RevPAR in 2021 measured 54.8% higher than the first nine months of 2020, driven by a 28.1% increase in occupancy in 2021.