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Broome County hotel occupancy rises nearly 19 percent in May

BINGHAMTON, N.Y. — Broome County hotels saw another increase in guests in May compared to a year earlier, as the hospitality industry continues to rebound from the pandemic, according to a new report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 18.9 percent to 63.7 percent in May, […]

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The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 18.9 percent to 63.7 percent in May, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 29.6 percent to 56.6 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 46.8 percent to $74.10 in May, compared to the year-ago month. Through the first five months of this year, RevPar increased 59.4 percent to $56.58.

Average daily rate (or ADR), which represents the average rental rate for a sold room, climbed 23.4 percent to $116.37 in the county in the fifth month of 2022, compared to May 2021. So far this year, ADR is up 22.9 percent to $100.01.

Jornal Staff