BINGHAMTON, N.Y. — Hotels in Broome County welcomed more guests in January compared to a year ago, continuing a 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 rose 7.1 percent to 40.6 percent in January from 37.9 percent in the year-ago month, according to STR, a Tennessee–based hotel market data and analytics company. It was the ninth consecutive month in which Broome County’s occupancy rate increased.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, increased 7.6 percent to $32.69 in January from $30.37 in January 2017. Broome County’s RevPAR has gained six months in a row.
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Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.5 percent to $80.57 in January from $80.15 a year earlier, per STR.
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