May 2024 STR Report Summary:

In May 2024, Minnesota’s occupancy rate landed at 54.0%, 1189% lower than the overall U.S. occupancy rate of 65.8%, and 0.1% lower than the state's occupancy rate in May 2023. Bloomington reported the highest occupancy rate in the state at 65.7%. Following Bloomington was the Minneapolis South area, which last month had an occupancy rate of 63.0%

In May 2024, Minnesota’s statewide RevPAR landed at $65.76, $0.71 higher than May 2023's RevPAR of $65.05. Across the state, May 2024's ADR of $121.79 landed $1.49 higher than May 2023's ADR of $120.30.

Read the full report here.