UTICA, N.Y. — Oneida County hotels posted a nearly 2 percent drop in guests in June, whereas two other important indicators of business performance improved.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) declined 1.6 percent to an even 68 percent in June from the year-ago month, according to a report from STR, a Tennessee–based hotel-market data and analytics company. Year to date, occupancy was off 1.1 percent to 56.1 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 4.3 percent to $98.30 this June in the Mohawk Valley’s largest county versus June 2023. Through the first six months of this year, RevPar has increased 5.5 percent to $75.64.
(Sponsored)
Criminal Liability for Employment Law Violations?
New York employers are often surprised to learn that wage law violations can lead to criminal penalties in addition to financial penalties. Whether payroll is outsourced, or a staffing agency
CECL Accounting Standard: What You Need to Know
The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 326, Financial Instruments-Credit Losses, became effective for all entities on January 1, 2023. This accounting standard introduces the current expected
Average daily rate (ADR), which represents the average rental rate for a sold room, jumped 6 percent to $144.50 in Oneida County in the sixth month of 2024, compared to the same month a year prior. Through the first half of the year, ADR has gained 6.6 percent to $134.86.
