BINGHAMTON, N.Y. — Broome County hotels posted a slight decline in guests in August compared to the year-ago month, while two other business indicators registered gains. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county inched down 0.2 percent to 70.1 percent in the eighth month of the year versus […]
BINGHAMTON, N.Y. — Broome County hotels posted a slight decline in guests in August compared to the year-ago month, while two other business indicators registered gains.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county inched down 0.2 percent to 70.1 percent in the eighth month of the year versus August 2022. Year to date through August, occupancy was down 1.9 percent to 59.4 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, increased 2.3 percent to $90.01 in August compared to the year-prior month. Through the first eight months of 2023, RevPar in Broome County was higher by 3.6 percent to $67.88.
Average daily rate (ADR), which represents the average rental rate for a sold room, went up 2.5 percent to $128.33 in the county this August, versus the same month in 2022. During the eight-month period to start this year, ADR was up 5.7 percent to $114.25.