SYRACUSE, N.Y. — Onondaga County hotels registered improvements in three vital benchmarks of business performance in November. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 3.3 percent to 54.4 percent in the 11th month of the year compared to November 2022, according to STR, a Tennessee–based hotel market […]
SYRACUSE, N.Y. — Onondaga County hotels registered improvements in three vital benchmarks of business performance in November.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 3.3 percent to 54.4 percent in the 11th month of the year compared to November 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy was up 2.8 percent to 61.8 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 19 percent to $72.50 in Onondaga County in November from a year prior. In the first 11 months of 2023, RevPar was 9.9 percent higher to $80.63.
Average daily rate (or ADR), which represents the average rental rate for a sold room, went up 15.3 percent to $133.29 in November versus the year-ago month. For the period between Jan. 1 and Nov. 30 of this year, ADR was up 6.9 percent to $130.49, compared to the same period in 2022.