Canadian Hotels Report Negative YOY Results for Week Ending 7 March 2020
Alberta matched for the steepest drop in ADR (-3.0% to CAD131.43). The province also saw the second-largest declines in occupancy (-9.9% to 48.1%) and RevPAR (-12.6% to CAD63.19).
During the week of 1-7 March, Canadian hotel occupancy decreased 5.2% to 56.9%, ADR dipped 0.7% to 155.10 Canadian dollars ($112.07) and RevPAR fell 5.8% to CA$88.18 ($63.72).
The Canadian hotel industry recorded mostly negative year-over-year results in the three key performance metrics during the week of 1-7 March 2020, according to data from STR.
In comparison with the week of 3-9 March 2019, the industry reported the following:
• Occupancy: -5.2% to 56.9%
• Average daily rate (ADR): -0.7% to CAD155.10
• Revenue per available room (RevPAR): -5.8% to CAD88.18
Among the provinces and territories, Manitoba experienced the only double-digit decline in occupancy (-12.1% to 61.2%) and one of the largest decreases in ADR (-3.0% to CAD124.45), which resulted in the steepest drop in RevPAR (-14.7% to CAD76.14).
Alberta matched for the steepest drop in ADR (-3.0% to CAD131.43). The province also saw the second-largest declines in occupancy (-9.9% to 48.1%) and RevPAR (-12.6% to CAD63.19).
New Brunswick registered the third-largest decrease in RevPAR (-7.9% to CAD57.37), due primarily to the third-steepest decline in occupancy (-6.5% to 48.2%).
Prince Edward Island recorded the only increase in occupancy (+15.4% to 34.2%) and the highest rise in RevPAR (+16.3% to CAD39.07).
Quebec posted the largest lift in ADR (+3.2% to CAD148.78).
Saskatchewan reported the only other increase in RevPAR (+0.5% to CAD61.90).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com.
Categories: Trends