WATERTOWN — Jefferson County hotels posted substantial improvement in three important indicators of hotel-business performance in October, following up solid gains in September and August. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the North Country’s most populous county rose 7 percent to 56.8 percent in the 10th month of this […]
WATERTOWN — Jefferson County hotels posted substantial improvement in three important indicators of hotel-business performance in October, following up solid gains in September and August.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the North Country’s most populous county rose 7 percent to 56.8 percent in the 10th month of this year from October 2023, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, hotel occupancy is up 2.6 percent to 55.1 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 15.2 percent in Jefferson County to $69.78 in October, compared to the year-ago month. Through Oct. 31, RevPar was up 7.4 percent to $67.69.
The average daily rate (ADR), which represents the average rental rate for a sold room, went up 7.7 percent to $122.78 in October from the same month in 2023, per STR. Through the first 10 months of 2024, ADR gained 4.6 percent to $122.87 in the county.
