occupancy rate

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Occupancy Rate

The number of units in a building with renters, expressed as a percentage of all units. For example, an apartment building with 100 units and 40 resident families has a 40% occupancy rate. It is the opposite of the vacancy rate.

occupancy rate

The ratio of rented property to the total available for rent.It is the flip side of the vacancy rate. Occupancy rates may be calculated by number of units, number of square feet, or by dollar value of rentals, also called the economic occupancy rate.

References in periodicals archive ?
Meanwhile, Bahrain's Four Stars Hotel Committee chairman Hameed Al Halwachi said the occupancy rates increased compared to last year.
In Hurghada, occupancy rates increased to more than 80%, according to Adel Rady, a member of the Red Sea Tourism Investment Association.
As of Thursday, and with under a week left before the first day of Eid, occupancy rates at Hotel Cavalier had not exceeded 60-70 percent, whereas previous years would have been fully booked by this time, Nasser el-Dine said.
The other factor putting pressure on occupancy rates and revenue in Dubai's hotel industry is increased supply - the supply of hotel rooms in the emirate last month was up 6.
MGM Grand Sanya registered an average occupancy rate of approximately 71% and an around 13% growth in RevPAR (revenue per available room) as compared with that for the same period in last year; the St.
PwC's "South African Hospitality Outlook: 2014-2018" projects that the overall occupancy rate across the sectors will rise to an estimated 58.
Despite the insistence of hotel managers in Hurghada that the city's occupancy rates have remained stable, Munir stated: "total occupancy rates in the city currently do not exceed 35%; 15% are foreigners, with the remaining 20% being Egyptians".
There were no noticeable changes in Egypt, where cities such as Cairo, Sharm El-Sheikh and Hurgada remained stable in their overall occupancy rates, with Cairo's occupancy rising seven per cent year-to-date, Sharm El Shaikh's occupancy grew 12 per cent year-to-date, and Hurghada's occupancy rate grew eight per cent year-to-date.
The figures also show that Saturday was the day of the week which attracted the most trade to city hotels with an occupancy rate of 91%, followed by Friday with 84% and Thursday with 81%.
According to the Statistical Office of the EU, even well-developed tourist destinations like France and Spain registered occupancy rates of 69% and 60.
Saudi Arabia has launched a tourism campaign to open up the Kingdom to non-religious visitors as well, so we expect to achieve an increase of between 20 and 25 per cent in our hotel occupancy rates, compared to the same period last year.