Canadian Hotels Report Slightly Lower Performance from Prior Weeks for Week Ending September 12th, 2020

Canada's hotel occupancy fell 48% to 39.8% during the week of 6-12 September. ADR declined 32.3% to 123.89 Canadian dollars ($93.73) and RevPAR dropped 64.8% to CA$49.32 ($37.31).

STR data for 6-12 September 2020 showed slightly lower performance from prior weeks for Canada’s hotel industry. Year-over-year declines, while improved, also remain significant.

In comparison with the week of 8-14 September 2019, the industry reported the following:

• Occupancy: -48.0% to 39.8%
• Average daily rate (ADR): -32.3% to CAD123.89
• Revenue per available room (RevPAR): -64.8% to CAD49.32

Occupancy for previous weeks came in at 41.9%, 42.1% and 42.9%, respectively

For the week ending with 12 September, British Columbia (50.9%) was the only province to reach or surpass a 50% occupancy level.

Ottawa (40.1%) was the only major market at or above the 40% mark.

The lowest occupancy among provinces was reported in Newfoundland and Labrador (27.6%). At the market level, the lowest occupancy was reported in Montreal (24.2%).

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.