Mainly Positive Performance for Canadian Hotel Industry Week Ending 20 February 2016
In year-over-year comparisons, occupancy remained flat at 59.5%. Average daily rate for the week was up 6.1% to CAD140.62, and revenue per available room increased 6.0% to CAD83.61.
The Canadian hotel industry reported mostly positive results in the three key performance metrics during the week of 14-20 February 2016, according to data from STR, Inc.
In year-over-year comparisons, occupancy remained flat at 59.5%. Average daily rate for the week was up 6.1% to CAD140.62, and revenue per available room increased 6.0% to CAD83.61.
Among the provinces, Prince Edward Island recorded the largest increases across the three key performance metrics. Occupancy in the province rose 64.8% to 46.7%; ADR was up 18.5% to CAD110.24; and RevPAR jumped 95.3% to CAD51.53.
Two additional provinces reported a double-digit lift in RevPAR: British Columbia (+22.7% to CAD108.95) and Ontario (+18.1% to CAD83.59).
For ADR, British Columbia (+15.2% to CAD165.57) was the only market in addition to Prince Edward Island to post a double-digit increase.
Alberta reported the steepest declines in occupancy (-19.4% to 49.4%) and RevPAR (-23.1% to CAD67.57).
Newfoundland and Labrador also saw double-digit decreases in both occupancy (-15.6% to 48.0%) and RevPAR (-17.0% to CAD64.12).
Saskatchewan reported the largest drop in ADR, down 5.3% to CAD125.11.
About STR
STR, Inc. provides clients – including hotel operators, developers, financiers, analysts and suppliers to the hotel industry – access to hotel research with regular and custom reports covering the United States, Canada, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, STR Analytics and Hotel News Now. STR also founded the Hotel Data Conference. For more information, please visit www.str.com.