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Broome County hotel occupancy jumps nearly 44 percent in October

BINGHAMTON, N.Y. — Broome County hotels welcomed substantially more guests in October than in the year-ago month, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 43.9 percent to 59 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. […]

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BINGHAMTON, N.Y. — Broome County hotels welcomed substantially more guests in October than in the year-ago month, according to a recent report.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 43.9 percent to 59 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. It was the eighth consecutive monthly increase in occupancy in the county as the year-over-year comparisons were to a month in 2020 affected significantly by the COVID-19 pandemic. Year to date, occupancy is up 37.6 percent to 53.3 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 85.7 percent to $58.96 in October. Through the first 10 months of this year, RevPar is up 63.5 percent to $48.66.

Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 29 percent to $99.93 in the county in the 10th month of the year. Year to date, ADR is up 18.8 percent to $91.23.

Jornal Staff