Categories: Sports, Entertainment & TourismSubscriber Only

Broome County hotel occupancy rate increases more than 7 percent in November

BINGHAMTON — Hotels in Broome County were significantly fuller in November 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 7.3 percent to 54.2 percent in November, according to STR, a Tennessee–based hotel market data and analytics company. […]

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BINGHAMTON — Hotels in Broome County were significantly fuller in November 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 7.3 percent to 54.2 percent in November, according to STR, a Tennessee–based hotel market data and analytics company. It was the fifth straight monthly increase in occupancy. Year to date, through November, the county’s occupancy rate was up 3.2 percent to 60.4 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 8.6 percent to $46.78. Through the first 11 months of 2019, the county’s RevPar rose 5.1 percent to $56.51.

Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 1.2 percent to $86.30 in November. Year to date, Broome County’s ADR was up 1.9 percent to $93.62.