WATERTOWN — Hotels in Jefferson County were substantially fuller in June than in the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 10 percent to 68 percent in June from 61.8 percent a year before, according to STR, a Tennessee–based […]
WATERTOWN — Hotels in Jefferson County were substantially fuller in June than in the year-ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 10 percent to 68 percent in June from 61.8 percent a year before, according to STR, a Tennessee–based hotel market data and analytics company. That snapped a string of five straight months in which Jefferson County’s occupancy rate declined compared to the year-earlier period. Year to date, hotel occupancy in the county was down 1.1 percent to 47.2 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 13.6 percent to $69.09 in June from $60.83 in June 2018. Through the first six months of the year, the county’s RevPar increased 2.7 percent to $44.25.
Average daily rate (or ADR), which represents the average rental rate for a sold room, gained 3.3 percent to $101.64 in June from $98.40 a year earlier. Year to date, Jefferson County’s ADR was up 3.9 percent to $93.72.
