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Broome County hotel occupancy rate declines nearly 18 percent in February

By Journal Staff (news@cnybj.com)

Date:

BINGHAMTON, N.Y. — Broome County hotels saw fewer guests in February than in the year-prior month amid the ongoing coronavirus pandemic, according to a recent report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 17.8 percent to 40 percent in February, according to STR, a Tennessee–based hotel market data and analytics company. It marked the 13th straight monthly decrease in occupancy. 

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, plummeted 27.9 percent to $29.25. 

Average daily rate (or ADR), which represents the average rental rate for a sold room, was down 12.3 percent to $73.20 in February. 

This report is the last month in which the year-over-year comparison will be to a month before the pandemic hit. Starting with the March STR hotel reports, the comparisons will be to months also affected significantly by the COVID crisis.

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