BINGHAMTON, N.Y. — Broome County hotels had a mixed month in November. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county was unchanged at 56.4 percent compared to a year earlier. That was the worst monthly performance in this measure in 2022 as occupancy had increased every month before that, […]
BINGHAMTON, N.Y. — Broome County hotels had a mixed month in November.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county was unchanged at 56.4 percent compared to a year earlier. That was the worst monthly performance in this measure in 2022 as occupancy had increased every month before that, ranging from a nearly 4 percent rise to a more than 45 percent gain. Year to date through November, occupancy was up 15.7 percent to 61.7 percent.
Two other important indicators of business performance for Broome County hotels posted healthy gains in November.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, increased 8.1 percent to $57.99 in the 11th month of 2022 compared to the same month the year prior. Through the first 11 months of 2022, RevPar had climbed 34.9 percent to $66.74.
Average daily rate (ADR), which represents the average rental rate for a sold room, also rose 8.1 percent to $102.74 in the county in November, compared to November 2021. For the full 11-month period, ADR was up 16.6 percent to $108.20.
