BINGHAMTON — Hotels in Broome County saw a sharp drop in guests in April amid the coronavirus crisis, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county plunged 56.2 percent to 25.7 percent in April, according to STR, a Tennessee–based hotel market data and […]
BINGHAMTON — Hotels in Broome County saw a sharp drop in guests in April amid the coronavirus crisis, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county plunged 56.2 percent to 25.7 percent in April, according to STR, a Tennessee–based hotel market data and analytics company. April’s fall was worse than the 39 percent decline in occupancy in March to 34.2 percent, likely because the early part of March wasn’t as affected by the COVID-19 crisis.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, nosedived 68 percent to $16.81. That was worse than the nearly 47 percent fall in RevPar in March to $26.04.
Average daily rate (or ADR), which represents the average rental rate for a sold room, fell 27 percent to $65.48 in April. That came after an almost 13 percent dip in ADR in March to $76.22.