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Definitions from WordNet

Definitions from the Web

Occupancy Rate

Definition:

The occupancy rate refers to the percentage of available units or spaces being utilized in a particular area, such as a hotel, rental property, or commercial building.

Senses and Usages:

1. Noun - Measurement of Usage: The proportion of rented or utilized units within a given space or property.

Example Sentence: The occupancy rate of this hotel during the summer months is very high, reaching nearly 90%.

2. Noun - Calculation for Hotels: The standard measurement used in the hospitality industry to determine the percentage of occupied rooms in a hotel.

Example Sentence: The hotel's occupancy rate dropped significantly after the travel restrictions were put in place.

3. Noun - Real Estate and Rental Properties: The percentage of rented or leased spaces within a specific building or complex.

Example Sentence: The landlord decided to increase the rent due to the high occupancy rate of the office building.

4. Adjective - In High Demand: Referring to an area or property that has a high occupancy rate due to popularity.

Example Sentence: The apartments in this neighborhood are in high demand with an occupancy rate above 95%.

5. Adjective - Pertaining to Local Areas: Describing the occupancy rate of a specific locality or region.

Example Sentence: The occupancy rate differs between major cities, and even within local areas within those cities.

Related Products:

Check out these books on occupancy rate:

• Occupancy Rate in Hotels - Explained
• Real Estate: Maximizing Occupancy Rate for Profit