SYRACUSE — Onondaga County hotels opened 2023 with another solid increase in business activity, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county climbed 10 percent to 44.5 percent in the first month of the year compared to January 2022, according to STR, a […]
SYRACUSE — Onondaga County hotels opened 2023 with another solid increase in business activity, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county climbed 10 percent to 44.5 percent in the first month of the year compared to January 2022, according to STR, a Tennessee–based hotel market data and analytics company. It followed a year of 12 straight monthly gains in occupancy, ranging from more than 6 percent to nearly 34 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 22.7 percent to $47.16 in Onondaga County in January from a year earlier.
Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 11.6 percent to $105.91 in January compared to January 2022.
