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Broome County hotel occupancy increases 41 percent in August

BINGHAMTON, N.Y. — The business recovery from the pandemic continued for Broome County hotels in August with a surge in guests, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 41.1 percent to 65.7 percent in August, according to STR, a Tennessee–based hotel market […]

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BINGHAMTON, N.Y. — The business recovery from the pandemic continued for Broome County hotels in August with a surge in guests, according to a recent report.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 41.1 percent to 65.7 percent in August, according to STR, a Tennessee–based hotel market data and analytics company. It was only the sixth monthly increase in occupancy in the county since January 2020, with all of them coming in the last six months, when the year-over-year comparisons were to a month affected significantly by the COVID crisis. The prior 12 reports each featured double-digit declines in occupancy as the comparisons were to a pre-pandemic month.

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 82.8 percent to $68.25 in August.

Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 29.6 percent to $103.89 in the county in the eighth month of the year.

Jornal Staff