Hotels in Broome County were less full in April 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 declined 5.3 percent to 55.3 percent in April from 58.4 percent in the year-ago month, according to STR, a Tennessee–based hotel […]
Hotels in Broome County were less full in April 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 declined 5.3 percent to 55.3 percent in April from 58.4 percent in the year-ago month, according to STR, a Tennessee–based hotel market data and analytics company. It was the third straight month the occupancy rate fell.
Revenue per available room (RevPAR), a key industry gauge that measures how much money hotels are bringing in per available room, fell 9.5 percent to $46.75 this April from $51.66 in April 2016.
Average daily rate (or ADR), which represents the average rental rate for a sold room, dipped by 4.4 percent to $84.55 from $88.44 a year earlier, per STR.