SARATOGA SPRINGS — Saratoga County hotels are seeing notable increases in revenue this year for one primary reason: visitors are willing to spend more money to stay in the area.
From January through October of 2023, hotels in the county reported a RevPAR (Revenue Per Available Room) of $110.70, up 6.5% from last year’s numbers, according to the Saratoga County Chamber of Commerce.
“The demand was up slightly, the occupancy was up slightly, but the willingness of individuals to pay in order to be here, and to be especially in downtown [Saratoga Springs] was pretty clear,” said Todd Shimkus, president of the Chamber.
Although the flood of summer tourists betting on ponies at the track or dancing the night away at the Saratoga Performing Arts Center (SPAC) is still a big part of hotel revenue, the city is increasingly becoming more than just a seasonal attraction.
“SPAC’s now got a year-round agenda and schedule of events. Live Nation has often now moved into September. This year they’re moving into May so they’ve spread out,” Shimkus said. “And then you can’t count out the City Center. This is the first year where the City Center has been full virtually every day. This is twelve months of success for the leisure and group tourism business.”
With the Belmont Stakes coming to town this spring, horse racing season is also kicking off ahead of schedule. “The Belmont coming here is going to have a huge impact in the month of June, if not a little earlier,” Shimkus said.
The most sought-after bookings might be downtown, but hotels throughout the region continue to profit from the deluge of visitors. “We don’t have enough lodging capacity to handle everyone who is going to want to be here,” Shimkus said. “So they’re going to have to stay in places outside the area.”
Hotels in Malta, Clifton Park, Glens Falls, Queensbury, Lake George, and even Albany benefit from the lodging shortage in Saratoga proper.
Within city limits, developers are working to create more accommodations. A Marriott AC Hotel is set to open on South Broadway sometime in the next 12 to 18 months. The Brookmere Hotel is expected to open late next year at the former site of the Longfellows Hotel and Restaurant. The Adelphi Hotel is also in the midst of an expansion.
