BINGHAMTON — Hotels in Broome County were ever so slightly less full in June compared to a year ago, breaking a long string of monthly occupancy increases, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 0.2 percent to 66.5 percent in June […]
BINGHAMTON — Hotels in Broome County were ever so slightly less full in June compared to a year ago, breaking a long string of monthly occupancy increases, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 0.2 percent to 66.5 percent in June from 66.6 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. Broome County’s occupancy rate had increased for 13 straight months from May 2017 through May 2018. Despite the latest monthly dip, the occupancy rate through the first six months of 2018, was up 5.4 percent to 54.7 percent.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, edged up 0.6 percent to $61.39 in June from $61.03 in June 2017. Broome County’s RevPAR has gained 11 months in a row. Year to date through June, the county’s RevPAR was up 7.4 percent to 49.06.
Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.8 percent to $92.37 in June from $91.65 a year earlier, per STR. Broome County’s ADR was up 1.9 percent in the first half of the year to $89.72.