STR: Canada hotel performance for Q3 2017
Canada's hotel industry reported positive year-over-year results in the three key performance metrics during the third quarter of 2017, according to data from STR. Compared with Q3 2016:
HENDERSONVILLE, Tennessee -- Canada's hotel industry reported positive year-over-year results in the three key performance metrics during the third quarter of 2017, according to data from STR.
Compared with Q3 2016:
- Occupancy: +1.8% to 78.7%
- Average daily rate (ADR): +5.7% to CAD174.44
- Revenue per available room (RevPAR): +7.6% to CAD137.35
The absolute occupancy level was the highest for a Q3 in Canada since 1999. Earlier this year, STR analysts forecasted continued performance growth for the country with demand helped by celebrations around the 150th anniversary of Confederation. August was the strongest month of the quarter, in both absolute terms and year-over-year growth, for occupancy (80.5%/+3.3%), ADR (CAD177.17/+8.1%) and RevPAR (CAD142.57/+11.6%).
Overall, nine of 10 provinces reported growth in RevPAR for the quarter, while one of two reporting territories showed an increase in the metric.
Manitoba posted the only double-digit increase in occupancy (+13.9% to 76.3%) and the largest spike in RevPAR (+16.9% to CAD92.26).
Two additional provinces experienced a double-digit lift in RevPAR: Nova Scotia (+15.7% to CAD142.73) and British Columbia (+11.5% to CAD180.55). The Yukon Territory(+13.5% to CAD145.20) also registered double-digit RevPAR growth.
The double-digit increase in Nova Scotia was driven primarily by the quarter's only double-digit rise in ADR (+12.2% to CAD162.53).
Prince Edward Island saw the only occupancy decrease for the quarter (-1.8%) despite maintaining the highest absolute level in the metric (92.1%) among provinces.
Saskatchewan was the only province with declines in ADR (-3.8% to CAD117.14) and RevPAR (-0.4% to CAD69.26).
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