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Broome County hotel occupancy edges up in October

BINGHAMTON, N.Y. — Broome County hotels registered a slight rise in guests in October compared to the year-ago month, while two other business indicators posted bigger increases. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county moved up 1.4 percent to 64.9 percent in the 10th month of 2023 versus […]

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BINGHAMTON, N.Y. — Broome County hotels registered a slight rise in guests in October compared to the year-ago month, while two other business indicators posted bigger increases.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county moved up 1.4 percent to 64.9 percent in the 10th month of 2023 versus October 2022. Year to date through October, occupancy was down 1.1 percent to 60.6 percent.

Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 5.1 percent to $78.54 in October compared to the year-prior month. Through the first 10 months of the year, RevPar in Broome County had gained 3.6 percent to $69.76.

Average daily rate (ADR), which represents the average rental rate for a sold room, increased 3.7 percent to $120.95 in the county this October, versus the same month in 2022. So far this year through Oct. 31, ADR was up 4.8 percent to $115.17.

Jornal Staff