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Onondaga County hotels saw business decline in October

SYRACUSE, N.Y. — Onondaga County hotels posted a drop in three key benchmarks of business performance in October. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county slipped 4.3 percent to 65.5 percent in the 10th month of this year compared to October 2022, according to STR, a Tennessee–based hotel […]

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SYRACUSE, N.Y. — Onondaga County hotels posted a drop in three key benchmarks of business performance in October.

The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county slipped 4.3 percent to 65.5 percent in the 10th month of this year compared to October 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy was up 2.8 percent to 62.5 percent.

Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, declined 9.3 percent to $86.55 in Onondaga County in October from a year earlier. In the first 10 months of 2023, RevPar was 9.2 percent higher to $81.44.

Average daily rate (or ADR), which represents the average rental rate for a sold room, dropped 5.1 percent to $132.19 in October versus the year-ago month. For the period between Jan. 1 and Oct. 31 of this year, ADR was up 6.2 percent to $130.24, compared to the same period in 2022.

Jornal Staff