SYRACUSE — Onondaga County hotels generated another solid increase in business activity in February though at a slower pace than the month before, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.5 percent to 52 percent in the second month of the year […]
SYRACUSE — Onondaga County hotels generated another solid increase in business activity in February though at a slower pace than the month before, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.5 percent to 52 percent in the second month of the year compared to February 2022, according to STR, a Tennessee–based hotel market data and analytics company. The occupancy increase was half of January’s 9 percent gain in this measure.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, climbed 9.3 percent to $57.99 in Onondaga County in February from a year earlier. The county’s RevPar had increased nearly 22 percent in January.
Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 4.6 percent to $111.56 in February compared to February 2022. The rise was below January’s almost 12 percent gain in ADR in Onondaga County.
