BINGHAMTON — Broome County hotels registered an increase in occupancy in November, as two other key indicators of business performance also improved during the month. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 11.6 percent to 60.9 percent in the 11th month of 2024, compared to November 2023, […]
BINGHAMTON — Broome County hotels registered an increase in occupancy in November, as two other key indicators of business performance also improved during the month.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 11.6 percent to 60.9 percent in the 11th month of 2024, compared to November 2023, according to a report from STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 2.4 percent to 61.6 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 17.5 percent to $67.02 in November versus the year-prior month. Through the first 11 months of this year, RevPar was higher by 8.4 percent to $74.04.
The average daily rate (ADR), which represents the average rental rate for a sold room, increased 5.3 percent to $110.12 in the county this November, compared to the same month a year ago. Through Nov. 30, ADR had gained 5.8 percent to $120.11.
