IPA: /ˈɒkjʊpənsi/
KK: /ɑˈkjupənsi/
The state of being in a place or using a space, especially in terms of living or working there.
The hotel had a high occupancy rate during the summer months.
Occupancy → It is formed from "occupare" (meaning to seize or take possession) and "-ancy" (a suffix indicating a state or condition). The word "occupancy" refers to the state of being occupied or the condition of holding a space or property.
Think of 'seizing' or 'taking possession' of a space — that's what occupancy means, the state of being in that space.