Vacancy Rate (Noun)
Meaning
The percentage of all rental units (as in hotels) that are unoccupied or not rented at a given time.
Classification
Nouns denoting relations between people or things or ideas.
Examples
- The hotel's vacancy rate had been steadily increasing over the past quarter, causing concerns among investors.
- Analysts closely monitored the vacancy rate in major cities to gauge the health of the hospitality industry.
- During peak season, the hotel's vacancy rate dropped to nearly zero, with every room booked solid.
- After a major renovation, the hotel saw a significant decrease in its vacancy rate, as travelers flocked to experience the upgraded amenities.
- Industry experts noted that a vacancy rate above 20% was a warning sign of potential financial trouble for a hotel or resort.