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Broome County hotels see business rebound in March compared to a year ago

By Journal Staff (news@cnybj.com)

Date:

BINGHAMTON, N.Y. — Broome County hotels saw a big bounce back in guests in March compared to the year-prior month amid the ongoing coronavirus pandemic, according to a new report.

The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county jumped 38.5 percent to 47.4 percent in March, according to STR, a Tennessee–based hotel market data and analytics company. It was the first monthly increase in occupancy in the county since January 2020.

Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 40.2 percent to $36.63. 

Average daily rate (or ADR), which represents the average rental rate for a sold room, edged up 1.2 percent to $77.23 in March. 

The March hotel-occupancy report represents the first time in which the year-over-year comparison is to a month also affected significantly by the COVID crisis. The last 12 reports each featured double-digit declines in occupancy as the comparisons were to a pre-pandemic month.

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