BINGHAMTON — Hotels in Broome County were fuller in March compared to a year ago, continuing a long string of monthly occupancy increases, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 11.2 percent to 51.4 percent in March from 46.2 percent in […]
BINGHAMTON — Hotels in Broome County were fuller in March compared to a year ago, continuing a long string of monthly occupancy increases, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 11.2 percent to 51.4 percent in March from 46.2 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. It was the 11th consecutive month in which Broome County’s occupancy rate increased. Through the first three months of 2018, the occupancy rate was up 9 percent to 45.8 percent from 42.0 percent in the first quarter of 2017.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, increased 11.7 percent to $42.65 in March from $38.19 in March 2017. Broome County’s RevPAR has gained eight months in a row. Year to date through March, the county’s RevPAR was up 9.4 percent to $37.45 from $34.23 in the first three months of 2017.
Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.4 percent to $82.98 in March from $82.63 a year earlier, per STR. Broome County’s ADR is up 0.3 percent year to date to $81.70.
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BINGHAMTON — Hotels in Broome County were fuller in March compared to a year ago, continuing a long string of monthly occupancy increases, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 11.2 percent to 51.4 percent in March from 46.2 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. It was the 11th consecutive month in which Broome County’s occupancy rate increased. Through the first three months of 2018, the occupancy rate was up 9 percent to 45.8 percent from 42.0 percent in the first quarter of 2017.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, increased 11.7 percent to $42.65 in March from $38.19 in March 2017. Broome County’s RevPAR has gained eight months in a row. Year to date through March, the county’s RevPAR was up 9.4 percent to $37.45 from $34.23 in the first three months of 2017.
Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.4 percent to $82.98 in March from $82.63 a year earlier, per STR. Broome County’s ADR is up 0.3 percent year to date to $81.70.
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BINGHAMTON — Hotels in Broome County were fuller in March compared to a year ago, continuing a long string of monthly occupancy increases, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 11.2 percent to 51.4 percent in March from 46.2 percent in […]
BINGHAMTON — Hotels in Broome County were fuller in March compared to a year ago, continuing a long string of monthly occupancy increases, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 11.2 percent to 51.4 percent in March from 46.2 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. It was the 11th consecutive month in which Broome County’s occupancy rate increased. Through the first three months of 2018, the occupancy rate was up 9 percent to 45.8 percent from 42.0 percent in the first quarter of 2017.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, increased 11.7 percent to $42.65 in March from $38.19 in March 2017. Broome County’s RevPAR has gained eight months in a row. Year to date through March, the county’s RevPAR was up 9.4 percent to $37.45 from $34.23 in the first three months of 2017.
Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.4 percent to $82.98 in March from $82.63 a year earlier, per STR. Broome County’s ADR is up 0.3 percent year to date to $81.70.
