SYRACUSE — Onondaga County hotels generated improvement in three key benchmarks of business performance in October. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in Central New York’s largest county rose 1.8 percent to 67.0 percent in the 10th month of the year, compared to October 2023, according to STR, a Tennessee–based […]
SYRACUSE — Onondaga County hotels generated improvement in three key benchmarks of business performance in October.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in Central New York’s largest county rose 1.8 percent to 67.0 percent in the 10th month of the year, compared to October 2023, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 0.5 percent to 63.1 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, increased 4.2 percent to $90.76 in Onondaga County in October from a year prior. Through the first 10 months of 2024, RevPar was higher by 4.1 percent to $85.08.
Average daily rate (or ADR), which represents the average rental rate for a sold room, edged up 2.4 percent to $135.40 in October compared to the year-ago month, STR reports. ADR was up 3.5 percent to $134.87 through Oct. 31 of this year.
