SYRACUSE — Onondaga County hotels saw little change in overnight guests in August, but two other key indicators of business performance improved during the month. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in Central New York’s largest county slipped 0.1 percent to 76.8 percent in the eighth month of 2024, compared […]
SYRACUSE — Onondaga County hotels saw little change in overnight guests in August, but two other key indicators of business performance improved during the month. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in Central New York’s largest county slipped 0.1 percent to 76.8 percent in the eighth month of 2024, compared to August 2023, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy is up 0.3 percent to 62 percent. Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, rose 1.9 percent to $118.45 in Onondaga County in August from a year prior. Through the first eight months of 2024, RevPar was up 3.4 percent to $82.41. Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 2 percent to $154.18 in August compared to the year-earlier month, STR reports. ADR was up 3 percent to $132.85 through Aug. 31 of this year.