SYRACUSE — Onondaga County hotels hosted more guests in January than a year ago, and two other vital benchmarks of business performance also posted increases. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 6.6 percent to 47.8 percent in the first month of 2024 compared to January 2023, […]
SYRACUSE — Onondaga County hotels hosted more guests in January than a year ago, and two other vital benchmarks of business performance also posted increases. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 6.6 percent to 47.8 percent in the first month of 2024 compared to January 2023, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 11.2 percent to $53.10 in Onondaga County in January from a year prior.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 4.3 percent to $111.11 in January versus the year-prior period.