What is the meaning / definition of Occupancy (OCC) in the hospitality industry?
It is a Hotel KPI calculation that shows the percentage of available rooms or beds being sold for a certain period of time.
It is important for hotels to keep track of this data on a daily basis to identify the average daily rate, forecast and apply revenue management.
How do you calculate a hotels Occupancy Rate?
- OCC Formula: Rooms Sold / Room Available