BINGHAMTON — Hotels in Broome County continued to see a slight pickup in guests in July compared to the prior three months, but occupancy was still substantially down from a year ago due to the coronavirus pandemic continuing to stifle travel and hospitality, according to a recent report. The hotel occupancy rate (rooms sold as […]
BINGHAMTON — Hotels in Broome County continued to see a slight pickup in guests in July compared to the prior three months, but occupancy was still substantially down from a year ago due to the coronavirus pandemic continuing to stifle travel and hospitality, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county was 38.1 percent in July, up from 34.1 percent in June, 27.3 percent in May, and 25.8 percent occupancy in April, but down 49 percent from July 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, was $28.97 in July, up from $24.93 in June, $19.23 in May, and $16.90 in April, but down almost 60 percent from a year ago.
Average daily rate (or ADR), which represents the average rental rate for a sold room, was $76.07 in July, an improvement from $73.17 in June, $70.39 in May, and $65.48 in April, but off 21 percent from July 2019.