BINGHAMTON, N.Y. — Hotels in Broome County continued to see a small pickup in guests in August compared to the past few months, but occupancy was still down sharply from a year earlier as the coronavirus pandemic continues to suppress travel and hospitality, according to a recent report. The hotel occupancy rate (rooms sold as […]
BINGHAMTON, N.Y. — Hotels in Broome County continued to see a small pickup in guests in August compared to the past few months, but occupancy was still down sharply from a year earlier as the coronavirus pandemic continues to suppress travel and hospitality, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose to 46.2 percent in August from 38.1 percent in July, 34.1 percent in June, and 27.3 percent in May, but was down 39.3 percent from August 2019 occupancy levels. That’s according to STR, a Tennessee–based hotel market data and analytics company.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, improved to $37.36 in August from $28.97 in July, $24.93 in June, and $19.23 in May. However, RevPar was down 52 percent from a year before.
Average daily rate (or ADR), which represents the average rental rate for a sold room, was $80.94 in August, an improvement from $76.07 in July, $73.17 in June, and $70.39 in May, but still down nearly 21 percent from a year ago.