BINGHAMTON, N.Y. — Broome County hotels registered a drop in occupancy in September, even as two other key indicators of business performance improved substantially in the month. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 4.7 percent to 62.5 percent in the ninth month of 2024, compared to […]
BINGHAMTON, N.Y. — Broome County hotels registered a drop in occupancy in September, even as two other key indicators of business performance improved substantially in the month.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 4.7 percent to 62.5 percent in the ninth month of 2024, compared to September 2023, according to a report from STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 2.3 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, increased 8.1 percent to $81.15 in September versus the year-prior month. Through the first nine months of this year, RevPar was higher by 9 percent to $74.60.
The average daily rate (ADR), which represents the average rental rate for a sold room, vaulted up 13.5 percent to $129.90 in the county this September, compared to the same month a year ago. Through Sept. 30, ADR had gained 6.6 percent to $121.12.
