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Jefferson County hotel occupancy rate dips over 3 percent in August

WATERTOWN — Hotels in Jefferson County welcomed fewer guests in August than in the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 3.5 percent to 71.6 percent in August from 74.2 percent a year earlier, according to STR, a Tennessee–based […]

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WATERTOWN — Hotels in Jefferson County welcomed fewer guests in August than in the year-ago month, according to a new report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 3.5 percent to 71.6 percent in August from 74.2 percent a year earlier, according to STR, a Tennessee–based hotel market data and analytics company. That followed a nearly 8-percent increase in occupancy in July. Year to date, hotel occupancy in the county was unchanged at 54.5 percent.

Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, dipped 0.1 percent to $86.14 in August from $86.21 in August 2018. Through the first eight months of the year, the county’s RevPar increased 3.9 percent to $56.28.

Average daily rate (or ADR), which represents the average rental rate for a sold room, gained 3.5 percent to $120.33 in August from $116.22 a year prior. Year to date, Jefferson County’s ADR was up 3.8 percent to $103.31.

Journal Staff