BINGHAMTON, N.Y. — Broome County hotels continued to see a rebound in business in September with an increase in guests, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 21.8 percent to 61 percent in September, according to STR, a Tennessee–based hotel market data […]
BINGHAMTON, N.Y. — Broome County hotels continued to see a rebound in business in September with an increase in guests, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 21.8 percent to 61 percent in September, according to STR, a Tennessee–based hotel market data and analytics company. It was the seventh straight monthly increase in occupancy in the county as the year-over-year comparisons were to a month in 2020 affected significantly by the COVID-19 pandemic. However, the latest monthly gain was the smallest of the seven. Year to date, occupancy is up 36.9 percent to 52.7 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, increased 58.6 percent to $61.58 in September. Through the first nine months of the year, RevPar is up 60.8 percent to $47.49.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 30.2 percent to $101 in the county in the ninth month of the year. Year to date, ADR is up 17.5 percent to $90.13.
