BINGHAMTON, N.Y. — Broome County hotels posted an average occupancy rate (rooms sold as a percentage of rooms available) of 40.6 percent in October, down 36.2 percent from a year ago, according to STR, a Tennessee–based hotel market data and analytics company.
A resurgence in COVID-19 in the county resulted in more restrictions being put into place, which hurt the hospitality business.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, hit $31.93 in October, down 49.3 percent from October 2019.
(Sponsored)
It’s Time for Your Business to Think About Year-End Tax Planning
As the year-end approaches, it’s time to take proactive steps to help lower your business’s taxes for 2024 and beyond. Deferring income and accelerating deductions to minimize taxes can be
Sales Employees are Not Always Exempt from Overtime
Are you sure that your company’s sales staff are properly categorized as exempt from the overtime requirements of the Fair Labor Standards Act (FLSA)? The FLSA regulations make it
Average daily rate (or ADR), which represents the average rental rate for a sold room, was $78.66 in October, off 20.5 percent from the year-prior month.
