Meet Minneapolis Reports Another Record-breaking Week for Minneapolis Hotels
Thursday, July 25, 2024 at 3:12PM
Thank you to Meet Minneapolis for providing these stats. Not too shabby!
Minneapolis hotels had one of their best weeks ever from a revenue, demand and occupancy standpoint. The noteworthy hotel success was driven by the meetings, conventions and events that Meet Minneapolis – and its partners – brought to the city including:
- Academy of General Dentistry 2024 and the Rubik's WCA North American Championship at the Minneapolis Convention Center (MCC)
- Herbalife North American Extravaganza at U.S. Bank Stadium
- Stonewall Sports National Tournament & Summit at various sites around the city
Attendees of large events at the MCC and throughout the city provide a significant boost to Minneapolis’ economy by visiting local businesses, restaurants, bars, breweries and attractions, and staying at Minneapolis hotels, thereby generating lodging, entertainment, restaurant, liquor and sales taxes for the city and supporting more than 31,000 tourism and hospitality workers in Minneapolis.
Some takeaways from last week’s hotel data (July 14-20):
Hotel room revenue
- Minneapolis hotels recorded more than $12.5 million in total guest room revenue last week – a new all-time high weekly revenue mark and an increase of more than 42% from the same week in 2023.
- The record-breaking guest room revenue surpasses $12.0 million mark previously set on June 18-24, 2023 (Taylor Swift concerts, Twin Cities Pride Festival, Kiwanis International Convention).
Hotel room demand
- The 58,812 hotel rooms occupied from Sunday-Saturday, July 14-20, were the 2nd-most since 2020 (post-pandemic).
- Higher hotel demand week:
- 59,590: March 3-9, 2024 (American Physical Society March Meeting at the MCC, Big Ten Women’s Basketball Tournament)
- Higher hotel demand week:
- The 9,881 hotel rooms occupied on Saturday, July 20, were the most ever on a Saturday in Minneapolis.
- That 9,881 mark was the 4th-highest of the year and the 6th-highest all-time.
- Higher hotel demand days of 2024:
- 10,036: Tuesday, May 7 (CLEANPOWER 2024 at the MCC, Twins vs. Seattle at Target Field)
- 10,001: Tuesday, June 11 (Fuel Ethanol Workshop & Expo, and PLC at Work Institute at the MCC, Melanie Martinez concert, Twins vs. Colorado game)
- 9,991: Tuesday, March 5 (American Physical Society March Meeting at the MCC, Big Ten Women’s Basketball Tournament)
Hotel occupancy
- Hotel occupancy from Sunday-Saturday, July 14-20, was 81.8% – the 2nd-highest since 2020 (post-pandemic).
- Higher hotel occupancy week:
- 82.9%: March 3-9, 2024 (American Physical Society March Meeting at the MCC, Big Ten Women’s Basketball Tournament)
- In 2023, the corresponding week had an occupancy rate of 68.3%.
- Higher hotel occupancy week:
- Hotel occupancy in Minneapolis on Saturday, July 20, was 96.2% – the 4th-highest of the year and the best Saturday occupancy mark since Oct. 12, 2019.
- Higher hotel occupancy days of 2024:
- 97.7%: Tuesday, May 7 (CLEANPOWER 2024 at the MCC, Twins vs. Seattle)
- 97.4%: Tuesday, June 11 (PLC at Work Institute and Fuel Ethanol Workshop & Expo at the MCC, Melanie Martinez concert, Twins vs. Colorado game)
- 97.3%: Tuesday, March 5 (American Physical Society March Meeting at the MCC, Big Ten Women’s Basketball Tournament)
- Higher hotel occupancy days of 2024:
Notes:
- Minneapolis has more hotel rooms now than it ever had previously. Hotel room supply is currently at 10,268 in Minneapolis, up more than 17% since the Super Bowl in 2018.
- All data according to hospitality industry data provider Smith Travel Research (STR).
Looking ahead, the following events are expected to bring a significant number of visitors to Minneapolis:
- Jack and Jill of America National Convention, July 23-28, Minneapolis Convention Center
- Minneapolis Aquatennial, July 24-27, various sites
- Loring Park Art Festival, July 27-28, Loring Park
- Foo Fighters/Pretenders/L7 concert, July 28, Target Field
- AVID Midwest Summer Institute, July 31-Aug. 2, Minneapolis Convention Center
- Basilica Block Party, Aug. 2-3, Boom Island
- UNFI Holiday and Winter Show, Aug. 6-7, Minneapolis Convention Center
- Metallica concerts, Aug. 16/18, U.S. Bank Stadium
- Green Day/Smashing Pumpkins/Rancid/Lisa Lisas concert, Aug. 17, Target Field
- Def Leppard/Journey/Steve Miller Band concert, Aug. 19, Target Field
- Zach Bryan concert, Aug. 24, U.S. Bank Stadium
- Minnesota Lynx vs. Indiana, Aug. 24, Target Center
- Sports, theater and music events that downtown regularly hosts
