Hotels in Oneida County took in more guests in May compared to a year ago, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 10 percent to 57.1 percent in May from 51.9 percent in the year-ago month, according to STR, a Tennessee–based […]
Hotels in Oneida County took in more guests in May compared to a year ago, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 10 percent to 57.1 percent in May from 51.9 percent in the year-ago month, according to STR, a Tennessee–based hotel market data and analytics company. It’s the third straight monthly rise in Oneida County’s occupancy rate following a streak of 11 consecutive monthly declines. Year to date through May, the occupancy rate was up 3.4 percent to 49.2 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 10.6 percent to $63.92 this May from $57.78 in May 2017. That also was the third straight monthly rise in RevPar. Year to date through the first five months of 2018, RevPar was up 3.9 percent to $51.61.
Average daily rate (or ADR), which represents the average rental rate for a sold room, edged up 0.6 percent to $111.97 in May, compared to $111.30 a year earlier. Year to date, ADR was 0.4 percent higher to $104.85.
