Occupancy refers to the state of being occupied or filled, often used in contexts like real estate, hospitality, and event planning. It indicates how many people or items are present in a given space, such as a hotel room, office building, or event venue. In real estate, occupancy rates are important metrics that show the percentage of available units that are currently rented or leased. High occupancy rates typically indicate strong demand, while low rates may suggest issues with the property or market conditions.