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Hotel Demand Up In Twin Cities

MINNEAPOLIS-Occupancy levels are at 68.7%, up from 61.9% a year ago, according to a report Twin Cities hotel market from the Minneapolis office of GVA Marquette Advisors, a real estate consulting firm.

By Jim McCartney | Updated on April 26, 2005

MINNEAPOLIS-Demand for lodging has increased in the second half of last year compared to the same period the prior year, according to new report from GVA Marquette Advisors, a Minneapolis-based real estate consulting firm.

The occupancy level in the second half was 67.4%, up from 63.2% in the second half of 2003, according to the GVA Marquette Advisors report. Demand was up 5.1%, with the biggest increase in demand in St. Paul, which had an 11.6% increase.

Average daily rates were $92.38 per room, up from $90.29 in the second half of last year, according to the report. Minneapolis had the highest daily room rate at $108.85, followed by St. Paul at $95.07 and Interstate 494 corridor hotels at $81.13.

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