August 2024 STR Report Summary: 

In August 2024, Minnesota’s occupancy rate landed at 65.1%, 1.9% lower than the overall U.S. occupancy rate of 67.0%, and 1.3% lower than the state's occupancy rate in August 2023. Bloomington reported the highest occupancy rate in the state at 83.2%. Following Bloomington was the Minneapolis South Area, which last month had an occupancy rate of 74.8%

In August 2024, Minnesota’s statewide RevPAR landed at $96.35, $1.58 higher than August 2023's RevPAR of $94.77. Across the state, August 2024's ADR of $147.98 landed $5.31 higher than August 2023's ADR of $142.67.

Read the full report, brought to you by Terratron, here.