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Jefferson County hotel-occupancy rate rose nearly 5 percent in October

WATERTOWN, N.Y. — Jefferson County hotels attracted more customers in October than a year ago, continuing the string of business gains seen all year. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.6 percent to 59.7 percent in the 10th month of the year, according to STR, a […]

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WATERTOWN, N.Y. — Jefferson County hotels attracted more customers in October than a year ago, continuing the string of business gains seen all year.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.6 percent to 59.7 percent in the 10th month of the year, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, Jefferson County’s occupancy rate is up 11.5 percent to 57.9 percent, as occupancy has increased each month this year.

Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, went up 13.2 percent to $68.96 in October from the year-earlier month. That was nearly identical to the 13.3 percent rise in this measure in September. So far in 2022, RevPar has jumped by more than 22 percent to $66.87.

Average daily rate (ADR), which represents the average rental rate for a sold room, rose 8.3 percent to $115.57 in October from the same month in 2021. This followed September’s 5.8 percent rise in this measure. Through the first 10 months of 2022, ADR has increased nearly 10 percent to $115.54.

Jornal Staff