vacancy rate
nounUK /ˈveɪkənsi reɪt/
US /ˈveɪkənsi reɪt/
The vacancy rate is the number of empty rooms or homes compared to all of them.
The hotel's vacancy rate went up in winter because fewer people came to stay.
OTHER MEANINGS
2. In real estate, the share of rental units that are empty and available for new tenants.
The city's apartment vacancy rate fell to two percent last year.
3. In business, the share of job positions that are unfilled.
The company's vacancy rate shows it still needs to hire many workers.
4. In hotels, the share of rooms that are not booked on a given night.
A high vacancy rate means the hotel has plenty of free rooms.