Broome County hotel occupancy rate jumps nearly 8 percent in February

BINGHAMTON — Hotels in Broome County were substantially fuller in February compared to a year ago, according to a recent report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county went up 7.8 percent to 49.0 percent in February from 45.5 percent in the year-ago month, according to STR, a Tennessee–based hotel market data and analytics company. 

Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, also increased 7.8 percent to $39.87 in February from $36.98 in February 2018. Broome County’s RevPAR has increased in 18 of the last 19 months.

Average daily rate (or ADR), which represents the average rental rate for a sold room, edged up 0.1 percent to $81.38 in February from $81.33 a year prior, per STR. That measure has gained in 16 of the past 17 months.