Hotels in Onondaga County saw a jump in guests in May compared to the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 17.3 percent to 67.3 percent in May from 57.3 percent a year prior, according to STR, a Tennessee–based […]
Hotels in Onondaga County saw a jump in guests in May compared to the year-ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 17.3 percent to 67.3 percent in May from 57.3 percent a year prior, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through May, the county’s occupancy rate is up 8.6 percent to 55.3 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, popped 19.6 percent to $77.29 in May from $64.64 in May 2017. Year to date, Onondaga County’s RevPar is up 8.1 percent to $55.16.
Average daily rate (or ADR), which represents the average rental rate for a sold room, increased 1.9 percent to $114.92 in May, compared to $112.76 a year ago. Year to date through May, Onondaga County’s ADR is off 0.5 percent to $99.70, according to STR.
