During the week of 10-16 May, Canadian hotel occupancy fell 72.5% to 18.4%, ADR decreased 38.8% to 101.70 Canadian dollars ($73.14) and RevPAR dropped 83.2% to CA$18.75 ($13.49).
The Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 10-16 May 2020, according to data from STR.
In comparison with the week of 12-18 May 2019, the industry reported the following:
• Occupancy: -72.5% to 18.4%
• Average daily rate (ADR): -38.8% to CAD101.70
• Revenue per available room (RevPAR): -83.2% to CAD18.75
Among the provinces and territories, Newfoundland and Labrador experienced the largest decline in occupancy (-83.6% to 8.5%).
Quebec posted the steepest drop in ADR (-46.3% to CAD96.60) and RevPAR (-89.5% to CAD14.77).
Among the major markets, Calgary saw the largest drop in occupancy (-82.1% to 10.4%).
Montreal registered the steepest decline in ADR (-51.9% to CAD94.90) and one of the largest decreases in RevPAR (-90.1% to CAD16.74).
Toronto matched for the other steepest drop in RevPAR (-90.1% to CAD15.92).
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 and costargroup.com.