Hotels in Oneida County were significantly less full in May compared to a year ago, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 8.6 percent to 51.9 percent in May from 56.8 percent in the year-ago month, according to STR, a Tennessee–based […]
Hotels in Oneida County were significantly less full in May compared to a year ago, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 8.6 percent to 51.9 percent in May from 56.8 percent in the year-ago month, according to STR, a Tennessee–based hotel market data and analytics company. It was the second straight monthly decrease for Oneida County’s occupancy rate. It fell 3.4 percent in April.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, fell 7.2 percent to $57.77 this May from $62.23 in May 2016. RevPar in the county also dropped two months in a row, per STR. It dipped 1.1 percent in April.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 1.6 percent to $111.22 in May, compared to $109.51 a year earlier.