Hotels in Onondaga County welcomed more guests in August compared to the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2.5 percent to 75.4 percent in August from 73.6 percent a year before, according to STR, a Tennessee–based hotel market data […]
Hotels in Onondaga County welcomed more guests in August compared to the year-ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2.5 percent to 75.4 percent in August from 73.6 percent a year before, according to STR, a Tennessee–based hotel market data and analytics company. It was the fifth consecutive month in which Onondaga County’s occupancy rate increased, and it’s the 10th gain in the last 11 months. Year to date through August, occupancy is up 7.6 percent to 61.5 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, increased 6.7 percent to $85.39 in August from $80.01 in August 2017. Year to date, Onondaga County’s RevPar is up 9.3 percent to $63.36.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 4.1 percent to $113.21 in August, compared to $108.70 a year ago. Through the first eight months of the year, Onondaga County’s ADR is up 1.5 percent to $102.97, according to STR.
