Home > Term: occupancy rate
occupancy rate
1) In hotel/motel industry, the percentage of total number of available sleeping rooms actually occupied. Derived by dividing the total number of rooms occupied during a given time period (night, week, year) by the total number of rooms available for occupancy during that same period. 2) Measurement of building use, usually expressed as an annual percentage rate comparing potential facility capacity to actual usage.
- Part of Speech: noun
- Industry/Domain: Convention
- Category: Conferences
- Company: CIC
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