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Broome County hotel occupancy jumps more than 10 percent in October

BINGHAMTON, N.Y. — Broome County hotels posted a double-digit percentage increase in guests compared to the year-ago month. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 10.4 percent to 64.8 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. It topped the single-digit […]

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BINGHAMTON, N.Y. — Broome County hotels posted a double-digit percentage increase in guests compared to the year-ago month.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 10.4 percent to 64.8 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. It topped the single-digit year-over-year occupancy increases seen in each of the prior three months. Year to date, occupancy is up 17.3 percent to 62.2 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, soared 25.8 percent to $74.95 in October compared to the year-earlier month. Through the first 10 months of this year, RevPar has climbed 37.7 percent to $67.62.

Average daily rate (ADR), which represents the average rental rate for a sold room, rose 14 percent to $115.61 in the county in the 10th month of the year, compared to October 2021. Year to date, ADR has risen 17.4 percent to $108.70.

Jornal Staff