SYRACUSE, N.Y. — Onondaga County hotels continued to see an increase in business activity in December compared to the year-earlier period, according to a new report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county climbed 7.5 percent to 44.3 percent in the final month of 2022, according to STR, […]
SYRACUSE, N.Y. — Onondaga County hotels continued to see an increase in business activity in December compared to the year-earlier period, according to a new report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county climbed 7.5 percent to 44.3 percent in the final month of 2022, according to STR, a Tennessee–based hotel market data and analytics company. It completed a year of 12 straight monthly gains in occupancy, ranging from more than 6 percent to nearly 34 percent. For the full year of 2022, occupancy increased by more than 17 percent to 58.8 percent compared to 2021 numbers.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 19.4 percent to $46.17 in Onondaga County in December from a year prior. For the full year, RevPar increased more than 40 percent to $70.52.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 11.1 percent to $104.27 in December compared to December 2021. ADR went up 19.5 percent to $119.95 for the entire year.
