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Broome County hotel occupancy rate edges down in April

BINGHAMTON — Hotels in Broome County welcomed slightly fewer guests in April than in the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county dipped 0.3 percent to 58.7 percent in April from 58.9 percent a year earlier, according to STR, a […]

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BINGHAMTON — Hotels in Broome County welcomed slightly fewer guests in April than in the year-ago month, according to a new report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county dipped 0.3 percent to 58.7 percent in April from 58.9 percent a year earlier, according to STR, a Tennessee–based hotel market data and analytics company. That followed a nearly 9 percent increase in occupancy in March and an almost 8 percent rise in February.

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, slipped 2.3 percent to $52.41 in April from $53.65 in April 2018. The county’s RevPar had risen nearly 15 percent in March and almost 8 percent in February.

Average daily rate (or ADR), which represents the average rental rate for a sold room, fell by 2 percent to $89.29 in April from $91.16 a year before. That followed a more than 5 percent increase in Broome County’s ADR in March.

Journal Staff