WATERTOWN — Jefferson County hotels registered an almost 8 percent drop in overnight guests in July, but two other indicators of business performance were mixed. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 7.9 percent to 66.1 percent in the seventh month of 2023 from July 2022, according […]
WATERTOWN — Jefferson County hotels registered an almost 8 percent drop in overnight guests in July, but two other indicators of business performance were mixed.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 7.9 percent to 66.1 percent in the seventh month of 2023 from July 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through July, occupancy was down 7.3 percent to 50.7 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, slipped 5.8 percent to $88.98 in July, compared to the year-prior month. Through the first seven months of 2023, RevPar has dipped 2.9 percent to $57.66.
Average daily rate (ADR), which represents the average rental rate for a sold room, rose 2.3 percent to $134.53 in July from the same month in 2022. Year to date, ADR is up 4.7 percent to $113.74.
