How do you calculate multiple occupancy?
How do you calculate multiple occupancy? Competitors' or Industry Average Ratio ? Occupancy Percentage = (Number of Rooms Occupied) / (Total Number of Rooms Available For Sale) * 100 ? Multiple Occupancy Percentage = (Number of Rooms Occupied by More Than One Guest) / (Total Number of Rooms Occupied) * 100 ? Single Occupancy Percentage = (Number of Single ...
What does 100% occupancy rate mean?
The occupancy rate of a hotel is expressed as a percentage. So, for example, if a hotel has 100 rooms available to be sold and 100 of those rooms are occupied, the occupancy rate would be 100 percent.
What is a good occupancy rate?
For many hotels, an ideal occupancy rate is between 70% and 95% - though the sweet spot depends on the number of rooms, location, type of hotel, target guests, and more.