BINGHAMTON — Hotels in Broome County were substantially fuller in July than in the year-ago month, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 9.4 percent to 74.9 percent in July from 68.5 percent a year prior, according to STR, a Tennessee–based […]
BINGHAMTON — Hotels in Broome County were substantially fuller in July than in the year-ago month, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 9.4 percent to 74.9 percent in July from 68.5 percent a year prior, according to STR, a Tennessee–based hotel market data and analytics company. That snapped a string of three small monthly declines. Year to date, through July, the county’s occupancy rate was up 3 percent to 58.5 percent.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 11.3 percent to $72.30 in July from $64.98 in July 2018. Through the first seven months of 2019, the county’s RevPar was up 4.5 percent to $53.76.
Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 1.7 percent to $96.48 in July from $94.90 a year earlier. Year to date, Broome County’s ADR was up 1.4 percent to $91.96.
