STR: Canada Hotel Results For Week Ending 19 January
During the week of 13-19 January, Canadian hotel occupancy decreased 1.1% to 54.6%, but a 3% ADR increase to 146.36 Canadian dollars ($109.66) raised RevPAR 1.9% to CA$79.98 ($59.92).
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 13-19 January 2019, according to data from STR.
HENDERSONVILLE, Tennessee — The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 13-19 January 2019, according to data from STR.
In comparison with the week of 14-20 January 2018, the industry reported the following:
- Occupancy: -1.1% to 54.6%
- Average daily rate (ADR): +3.0% to CAD146.36
- Revenue per available room (RevPAR): +1.9% to CAD79.98
Among the provinces and territories, Saskatchewan reported the largest increase in RevPAR (+22.8% to CAD66.55), due primarily to the only double-digit rise in occupancy (+15.7 % to 55.6%).
British Columbia posted the largest lift in ADR (+7.8% to CAD174.07), which resulted in the only other double-digit jump in RevPAR (+10.0% to CAD104.70).
Prince Edward Island saw the second-largest lift in ADR (+7.4% to CAD117.69), but the second-largest drop in occupancy (-15.2% to 31.2%).
The Northwest Territories registered the steepest decreases in occupancy (-25.1% to 58.1%) and RevPAR (-25.8% to CAD97.38).
Newfoundland and Labrador reported the largest decline in ADR (-6.0% to CAD123.21) and the second-largest drop in RevPAR (-12.2% to CAD45.67).
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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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