Average occupancy is a percentage reflecting the occupancy level of the property. The occupancy is measured as the percentage of the property that is occupied and operational as a proportion of the maximum operational capacity of the property. This is used to account for vacant or unused space in buildings or properties entered in Portfolio Manager.
If your property is in the design phase, use your best estimate for the intended conditions when the property is fully operational.
In addition, please note that for hotels, the average annual occupancy should be based on the number of rooms filled.