STR: Canada Hotel Results For Week Ending 2 February
Canadian hotel occupancy rose 1.8% to 56.6% during the week ending 2 February, while a 2.1% ADR increase to 147.29 Canadian dollars ($111.06) drove RevPAR up 3.9% to CA$83.35 ($62.85).
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 27 January through 2 February 2019, according to data from STR.
HENDERSONVILLE, Tennessee — The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 27 January through 2 February 2019, according to data from STR.
In comparison with the week of 28 January through 3 February 2018, the industry reported the following:
- Occupancy: +1.8% to 56.6%
- Average daily rate (ADR): +2.1% to CAD147.29
- Revenue per available room (RevPAR): +3.9% to CAD83.35
Among the provinces and territories, Prince Edward Island reported the only double-digit increases in each of the three key performance metrics: occupancy (+61.2% to 49.5%), ADR (+14.0% to CAD119.90) and RevPAR (+83.8% to CAD59.35).
British Columbia experienced the second-highest rise in occupancy (+5.1% to 62.2%), which drove the second-largest jump in RevPAR (+8.8% to CAD105.42).
The Northwest Territories posted the third-largest increase in RevPAR (+8.3% to CAD132.05).
Newfoundland and Labrador registered the steepest decreases in each of the three key performance metrics: occupancy (-8.4% to 40.2%), ADR (-4.0% to CAD123.67) and RevPAR (-12.0% to CAD49.68).
Quebec posted the second-largest declines in occupancy (-4.4% to 55.8%) and RevPAR (-4.0% to CAD82.99).
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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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