Broome County hotel occupancy jumps more than 75 percent in July

BINGHAMTON, N.Y. — Broome County hotels continued to see a surge in guests in July as they recover from the pandemic, according to a recent report.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county soared 75.5 percent to 67.8 percent in July, according to STR, a Tennessee–based hotel market data and analytics company. It was just the fifth monthly increase in occupancy in the county since January 2020, with all of them coming in the last five months.

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, easily more than doubled (up 133.2 percent) to $67.90 in July.

Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 32.9 percent to $100.14 in the county in the seventh month of the year. 

The strong July 2021 hotel-occupancy report follows Broome County’s nearly 71 percent jump in occupancy in June, a triple-digit percentage gain in May, and 86 percent and 39 percent increases in April and March, respectively.

These are the first five months in which the year-over-year comparisons are 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.