SYRACUSE, N.Y. — Hotels in Onondaga County had significantly more vacancies in January than in the year-prior month, as the COVID-19 pandemic continued to stunt the hospitality business, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 24.6 percent to 31.4 percent in […]
SYRACUSE, N.Y. — Hotels in Onondaga County had significantly more vacancies in January than in the year-prior month, as the COVID-19 pandemic continued to stunt the hospitality business, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 24.6 percent to 31.4 percent in January compared to the year-ago period, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, plunged 39.2 percent to $23.37 in January from January 2020.
Average daily rate (or ADR), which represents the average rental rate for a sold room, declined 19.4 percent to $74.39 in January from the same month last year.