WATERTOWN — Jefferson County hotels welcomed more guests in September than a year ago as their business momentum rebounded. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 7.3 percent to 61.8 percent in the ninth month of the year, according to STR, a Tennessee–based hotel market data and […]
WATERTOWN — Jefferson County hotels welcomed more guests in September than a year ago as their business momentum rebounded.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 7.3 percent to 61.8 percent in the ninth month of the year, according to STR, a Tennessee–based hotel market data and analytics company. It was above August’s tepid 1.6 percent year-over-year rise in occupancy. Year to date, the county’s occupancy rate is up 12.5 percent to 57.7 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 13.3 percent to $72.44 in September from the year-prior month. That also represented a bounce back in this measure as RevPar increased only 4.7 percent in August. So far in 2022, RevPar has jumped by nearly 24 percent to $66.61.
Average daily rate (ADR), which represents the average rental rate for a sold room, moved higher by 5.6 percent to 117.27 in September from the same month in 2021. This was just the second monthly increase in ADR that wasn’t at least 10 percent this year, following August’s 3.1 percent rise in this measure. Through the first nine months of 2022, ADR has increased an even 10 percent to $115.50.
