Broome County hotel occupancy rate slips in September

BINGHAMTON — Hotels in Broome County welcomed fewer guests in September compared to a year ago, according to a new report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 2.8 percent to 59.4 percent in September from 61.1 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. Despite the latest monthly drop, the occupancy rate through the first nine months of 2018, was up 2.9 percent to 59 percent.

Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, inched up 0.1 percent to $56.87 in September from $56.83 in September 2017. Broome County’s RevPAR has increased 14 months in a row. Year to date through September, the county’s RevPAR was up 5.4 percent to 54.54.

Average daily rate (or ADR), which represents the average rental rate for a sold room, gained 2.9 percent to $95.81 in September from $93.07 a year earlier, per STR. Broome County’s ADR was up 2.4 percent in the first three quarters of the year to $92.37.