Hotels in Onondaga County had more guests this August than in the year ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 5.1 percent to 73.6 percent in August from 70 percent a year prior, according to STR, a Tennessee–based hotel […]
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Hotels in Onondaga County had more guests this August than in the year ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 5.1 percent to 73.6 percent in August from 70 percent a year prior, according to STR, a Tennessee–based hotel market data and analytics company. The increase broke a string of four straight months in which Onondaga County’s occupancy rate declined.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 6.1 percent to $80.02 this August from $75.43 in August 2016. RevPar in the county had also dropped in four consecutive months before this latest increase, per STR.
Average daily rate (or ADR), which represents the average rental rate for a sold room, edged up 0.9 percent $108.68 in August, compared to $107.71 a year earlier.
However, year to date, Onondaga County’s occupancy rate is down 4.3 percent to 57.2 percent compared to the same period in 2016, RevPar is off 4.5 percent to $58.04, and ADR is down 0.3 percent to $101.40, according to STR.