Broome County hotels post solid business gains in January

BINGHAMTON — Broome County hotels registered increases in three separate key indicators of business performance in January. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 11.1 percent to 47.7 percent in the first month of 2024 versus January 2023. Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 14.1 percent to $47.42 in January compared to the year-ago month. Average daily rate (ADR), which represents the average rental rate for a sold room, edged up 2.8 percent to $99.44 in the county this January, versus the same month a year earlier.