SYRACUSE, N.Y. — Onondaga County hotels generated substantial growth in business activity in May in three different benchmarks, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 6.6 percent to 63.5 percent in the fifth month of the year compared to May 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, occupancy was up 6.9 percent to 56.1 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, leaped 17.6 percent to $93.05 in Onondaga County in May from a year prior. In the first five months of 2023, RevPar was up 17.5 percent to $69.11, compared to the same period in 2022.
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Average daily rate (or ADR), which represents the average rental rate for a sold room, jumped 10.3 percent to $146.53 in May compared to the year-ago month. For the period between Jan. 1 and May 31 of this year, ADR was up 9.9 percent to $123.09 versus that same timeframe in 2022.
