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Broome County hotel occupancy rate rises more than 4 percent

By Journal Staff

Date:

BINGHAMTON — Hotels in Broome County welcomed more guests in October than in the year-prior month, according to a new report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 4.1 percent to 63.7 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. It was the fourth consecutive monthly increase in occupancy. Year to date, through October, the county’s occupancy rate was up 2.8 percent to 61 percent.

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 9.7 percent to $62.47. Through the first 10 months of 2019, the county’s RevPar rose 4.8 percent to $57.45.

Average daily rate (or ADR), which represents the average rental rate for a sold room, climbed 5.3 percent to $98.08 in October. Year to date, Broome County’s ADR was up 1.9 percent to $94.25.