BINGHAMTON, N.Y. — Broome County hotels posted an average occupancy rate (rooms sold as a percentage of rooms available) of 49.6 percent in September, the highest mark since the COVID-19 pandemic started. In comparison, the county’s occupancy rate was 46.2 percent in August, 38.1 percent in July, 34.1 percent in June, and 27.3 percent in […]
BINGHAMTON, N.Y. — Broome County hotels posted an average occupancy rate (rooms sold as a percentage of rooms available) of 49.6 percent in September, the highest mark since the COVID-19 pandemic started.
In comparison, the county’s occupancy rate was 46.2 percent in August, 38.1 percent in July, 34.1 percent in June, and 27.3 percent in May, according to STR, a Tennessee–based hotel market data and analytics company. Still, September’s occupancy rate was down nearly 17 percent from a year ago. Also, it’s likely hotels will take a significant business hit in October as a surge in coronavirus cases has led to stay-at-home recommendations and parts of the county being declared a “Yellow Zone” by the state, which placed restrictions on gatherings, events, and restaurants.
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 $38.87 in September from $37.36 in August, $28.97 in July, and $24.93 in June. However, RevPar was down more than 31 percent from a year earlier.
