BINGHAMTON, N.Y. — Broome County hotels posted an average occupancy rate (rooms sold as a percentage of rooms available) of 28.3 percent in December, down 35.6 percent from a year ago, as the COVID-19 pandemic continued to take a bite out of the travel and hospitality business. For all of 2020, hotel occupancy fell 37.6 […]
BINGHAMTON, N.Y. — Broome County hotels posted an average occupancy rate (rooms sold as a percentage of rooms available) of 28.3 percent in December, down 35.6 percent from a year ago, as the COVID-19 pandemic continued to take a bite out of the travel and hospitality business.
For all of 2020, hotel occupancy fell 37.6 percent to 36.6 percent, according to STR, a Tennessee–based hotel market data and analytics company.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, was $21.18 in December, down 41.7 percent from December 2019. For the full-year 2020, RevPar plunged 48.2 percent to $28.47.
Average daily rate (or ADR), which represents the average rental rate for a sold room, hit $74.87 in December, off 9.5 percent from the year-ago month. For the full 12-month period, ADR declined 17 percent to $77.78.