What Is an Occupancy Rate?

STR | February 17, 2023

Occupancy rate is one of the global hotel industry’s foundational performance metrics, showing the percentage of rooms occupied in a property, segment or geographic area for any given time. The objective of successful revenue management is to achieve the optimal occupancy level for driving growth in revenue per available room (RevPAR) and profitability. Factors that influence occupancy rate There is a wide range of factors that can impact occupancy levels in a property, market, submarket, etc. For example, the presence of events can lead to surges in demand, which in turn increases occupancy levels. Major concert tours in Dublin...