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Onondaga County hotels post positive business data so far in 2023

SYRACUSE, N.Y. — Onondaga County hotels generated solid increases in a trio of indicators of business activity in the first seven months of 2023, according to a recent report. The county’s hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 4.9 percent to 59.3 percent year to date through July, compared to the […]

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SYRACUSE, N.Y. — Onondaga County hotels generated solid increases in a trio of indicators of business activity in the first seven months of 2023, according to a recent report.

The county’s hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 4.9 percent to 59.3 percent year to date through July, compared to the same period in 2022. That’s according to a report from 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, jumped 12.8 percent to $73.91 year to date, through July of this year.

Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 7.6 percent to $124.67 in the first seven months of 2023.

Jornal Staff