WATERTOWN — Hotels in Jefferson County were significantly fuller in July 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 increased 8 percent to 74.2 percent in July from 68.7 percent a year prior, according to STR, a Tennessee–based […]
WATERTOWN — Hotels in Jefferson County were significantly fuller in July 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 increased 8 percent to 74.2 percent in July from 68.7 percent a year prior, according to STR, a Tennessee–based hotel market data and analytics company. That followed a nearly 10 percent increase in occupancy in June. Year to date, hotel occupancy in the county was up 0.9 percent to 51.7 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 11.4 percent to $87.35 in July from $78.43 in July 2018. Through the first seven months of the year, the county’s RevPar increased 5 percent to $51.36.
Average daily rate (or ADR), which represents the average rental rate for a sold room, gained 3.1 percent to $117.69 in July from $114.13 a year before. Year to date, Jefferson County’s ADR was up 4.1 percent to $99.42
