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Jefferson County hotels post double-digit drop in occupancy in June

WATERTOWN — Jefferson County hotels registered a nearly 13 percent decline in overnight guests in June, but two other indicators of business performance were mixed. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 12.8 percent to 58.9 percent in the sixth month of 2023 from June 2022, according […]

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WATERTOWN — Jefferson County hotels registered a nearly 13 percent decline in overnight guests in June, but two other indicators of business performance were mixed.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 12.8 percent to 58.9 percent in the sixth month of 2023 from June 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through June, occupancy was down 7.1 percent to 47.7 percent.

Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, dipped 10.1 percent to $69.81 in June, compared to the year-ago month. Through the first six months of 2023, RevPar has edged down 1.9 percent to $51.51.

Average daily rate (ADR), which represents the average rental rate for a sold room, rose 3.1 percent to $118.62 in June from the same month in 2022. Year to date, ADR is up 5.7 percent to $108.09.

Journal Staff