Occupancy Level
Definition of "Occupancy level"
The number of units currently occupied in a facility, neighborhood, or city, stated as a percentage of total capacity. For example, a hotel has 80 rooms available for guests. Its average occupancy during the off season is 50. Therefore, its average occupancy level during the off season is 50/80=62.5%. The opposite term is vacancy rate would be 30/80=37.5.
Popular Real Estate Terms
Generally, a legal notice implies a method of official notification to an individual, organization, company, or the public that a particular event is about to occur. We can call a ...
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