BINGHAMTON — Broome County hotels saw slightly fewer guests in February, while two other key indicators of business performance improved. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county dipped 0.7 percent to 50.4 percent in the second month of 2024 versus February 2023. Revenue per available room (RevPar), an […]
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BINGHAMTON — Broome County hotels saw slightly fewer guests in February, while two other key indicators of business performance improved. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county dipped 0.7 percent to 50.4 percent in the second month of 2024 versus February 2023. Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, rose 3.6 percent to $50.96 in February compared to the year-prior month. Average daily rate (ADR), which represents the average rental rate for a sold room, increased 4.3 percent to $101.03 in the county this February, versus the same month a year ago.