WATERTOWN, N.Y. — Jefferson County hotels posted a nearly 8 percent decline in overnight guests in November, as two other indicators of hotel-business performance were mixed.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 7.9 percent to 45.1 percent in the 11th month of 2023 from November 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through November, occupancy was down 6.6 percent to 53 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, slipped 3.8 percent in Jefferson County to $47.16 in November, compared to the year-prior month. Through the first 11 months of the year, RevPar dipped 2.2 percent to $61.72.
(Sponsored)
Financial Inclusion through Affordable and Safe Banking Products
Financial inclusion is the accessibility of useful and affordable financial products and services to all individuals and businesses. Financial institutions have made strides in advancing these practices, most recently in
How Do Value Conclusions and Value Calculations Differ?
The value of a business is relevant in a wide variety of legal contexts, including divorces, shareholder disputes, mergers, bankruptcy and tax planning. Nevertheless, not every so-called “valuation” service is
Bucking the trend, average daily rate (ADR), which represents the average rental rate for a sold room, increased 4.4 percent to $104.46 in November from the same month in 2022. Year to date through Nov. 30, ADR was up 4.7 percent to $116.50.