SYRACUSE — Onondaga County hotels experienced slight growth in business activity in June in a trio of benchmarks. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county edged up 1.8 percent to 66.3 percent in the sixth month of this year compared to June 2022, according to STR, a Tennessee–based […]
SYRACUSE — Onondaga County hotels experienced slight growth in business activity in June in a trio of benchmarks.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county edged up 1.8 percent to 66.3 percent in the sixth month of this year compared to June 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy was up 5.9 percent to 57.8 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 5.1 percent to $83.54 in Onondaga County in June from a year ago. In the first six months of 2023, RevPar was up 14.9 percent to $71.52.
Average daily rate (or ADR), which represents the average rental rate for a sold room, moved higher by 3.2 percent to $126.08 in June versus the year-prior month. For the period between Jan. 1 and June 30 of this year, ADR was up 8.5 percent to $123.66, compared to the same timeframe in 2022.