Meaning of the word occupancy in English

What does occupancy mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

occupancy

US /ˈɑː.kjə.pən.si/
UK /ˈɒk.jə.pən.si/
"occupancy" picture

Noun

the act of occupying or taking possession of a place, or the state of being occupied

Example:
The hotel has a high occupancy rate during peak season.
The building's maximum occupancy is 200 people.