BINGHAMTON, N.Y. — Broome County hotels served more overnight guests in June than the year-ago month as the hospitality industry continued to bounce back from pandemic-deflated numbers. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 15.9 percent to 68.2 percent in May, according to STR, a Tennessee–based hotel […]
BINGHAMTON, N.Y. — Broome County hotels served more overnight guests in June than the year-ago month as the hospitality industry continued to bounce back from pandemic-deflated numbers.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 15.9 percent to 68.2 percent in May, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 26.9 percent to 58.6 percent.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 39.7 percent to $73.76 in May versus the year-prior month. Through the first six months of the year, RevPar soared 55.1 percent to $59.52.
Average daily rate (ADR), which represents the average rental rate for a sold room, climbed 20.5 percent to $108.12 in the county in the sixth month of 2022, compared to June 2021. In the first half of this year, ADR is up 22.3 percent to $101.63.