From the Federal Reserve Bank of Minneapolis Report: 

Minnesota’s peak travel season has been slowing for a growing number of hospitality businesses, according to a recent survey of the industry conducted by the Minneapolis Fed in partnership with Hospitality Minnesota and Explore Minnesota Tourism.

Half of businesses from restaurants to resorts had worse customer traffic from June to August compared with a year ago, survey respondents said. This tracked closely with revenue trends.

They reported that reasons for worsening traffic and revenue ranged from customers having less money for travel because of the rising cost of living to rain and flooding keeping customers away.

The operator of a Twin Cities outdoors activities business said many customers have complained about the cost of travel to the area, including various fees and taxes. “Others have also mentioned that this is their first time visiting and will probably be their last because of the expense overall.”

Businesses in the Twin Cities and the state’s northeast region were especially hard hit, with a larger share of survey respondents reporting worsening traffic and revenue. Among business sectors, food and drink establishments were hardest hit.

The survey was conducted in late August and early September with participation from 266 hospitality and tourism businesses in Minnesota.
 

Read the full article here: Fewer customers, less revenue for Minnesota Tourism and Hosptiality Sector

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