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Broome County hotel occupancy soars 80 percent in November

BINGHAMTON, N.Y. — Broome County hotels saw a massive surge in guests in November compared to the year-prior month, according to a new report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 80.4 percent to 53.6 percent in November from 29.7 percent in November 2020, according to STR, […]

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BINGHAMTON, N.Y. — Broome County hotels saw a massive surge in guests in November compared to the year-prior month, according to a new report.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 80.4 percent to 53.6 percent in November from 29.7 percent in November 2020, according to STR, a Tennessee–based hotel market data and analytics company. It was the ninth straight monthly increase in occupancy in the county as the year-over-year comparisons were to a month in 2020 impacted significantly by the COVID-19 pandemic. It was the largest monthly increase in four months. Year to date, occupancy is up 40.7 percent to 53.4 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, more than doubled (up 133.2 percent) to $50.33 in November. Through the first 11 months of this year, RevPar is up 68.3 percent to $48.80.

Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 29.3 percent to $93.91 in the county in the 11th month of the year. Year to date, ADR is up 19.6 percent to $91.43.

Jornal Staff