STR: Canada hotel performance for total-year 2016, Q4 2016
The Canadian hotel industry reported positive year-over-year results in the three key performance metrics during 2016, according to data from STR.Compared with 2015, occupancy increased 0.6% to 64.5%, and average daily rate (ADR) rose 4.3% to CAD149.19. As a result, revenue per available room (RevPAR) grew 5.0% to CAD96.25.In absolute values, July was Canada's top month of the year for each of the three metrics: occupancy (78.
HENDERSONVILLE, Tennessee -- The Canadian hotel industry reported positive year-over-year results in the three key performance metrics during 2016, according to data from STR.
Compared with 2015, occupancy increased 0.6% to 64.5%, and average daily rate (ADR) rose 4.3% to CAD149.19. As a result, revenue per available room (RevPAR) grew 5.0% to CAD96.25.
In absolute values, July was Canada's top month of the year for each of the three metrics: occupancy (78.3%), ADR (CAD168.39) and RevPAR (CAD131.87).
Among the provinces, Prince Edward Island recorded the year's largest year-over-year increases in occupancy (+7.3% to 60.9%) and RevPAR (+15.0% to CAD86.40). ADR in the province rose 7.1% to CAD141.79.
British Columbia posted the largest rise in ADR (+7.7% to CAD167.24) and the second largest increase in RevPAR (+11.5% to CAD115.35).
Ontario saw the only other double-digit lift in RevPAR (+10.8% to CAD100.29) for the year.
Saskatchewan reported the steepest declines in ADR (-4.9% to CAD124.79) and RevPAR (-12.6% to CAD66.84). Occupancy in the province fell 8.1% to 53.6%.
Alberta experienced the largest decrease in occupancy (-8.5% to 54.3%) and the only other double-digit drop in RevPAR (-10.2% to CAD80.07).
Q4 2016
During the fourth quarter of 2016, Canadian hotels reported positive results in the three key performance metrics. Occupancy rose 2.1% to 58.6%, ADR was up 3.5% to CAD$142.18, and RevPAR increased 5.7% to CAD83.27.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
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