Occupancy Rate (Noun)
Meaning
The percentage of all rental units (as in hotels) are occupied or rented at a given time.
Classification
Nouns denoting relations between people or things or ideas.
Examples
- The hotel manager carefully monitored the occupancy rate to determine if the marketing campaign was successful in attracting more guests.
- The city's tourism board analyzed the occupancy rate of hotels in the downtown area to identify trends and opportunities for growth.
- The company's occupancy rate had been steadily declining over the past quarter, prompting the owners to reassess their pricing strategy.
- During peak travel season, the hotel's occupancy rate soared to nearly 100%, forcing staff to scramble to accommodate overflow guests.
- The average occupancy rate for hotels in the region was around 70%, which was slightly higher than the national average.