Occupancy

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Occupancy

The state of living or maintaining an office in a designated building or portion thereof. For example, one who rents a house may take up occupancy on the first day of the lease.
References in periodicals archive ?
Projected occupancies for New York are "flat at 84 percent for both years," said Fox.
This creates a situation where the number of new hotel rooms is growing faster than the demand for the new accommodations, thus occupancies decline.