STR: Canada Hotel Results For Week Ending 2 March
During the week of 24 February to 2 March, Canadian hotel occupancy rose 1.2% to 60.1%, ADR increased 1% to 148.85 Canadian dollars ($110.85) and RevPAR rose 2.2% to CA$89.46 ($66.62).
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 24 February through 2 March 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 24 February through 2 March 2019, according to data from STR.
In comparison with the week of 25 February through 3 March 2018, the industry reported the following:
• Occupancy: +1.2% to 60.1%
• Average daily rate (ADR): +1.0% to CAD148.85
• Revenue per available room (RevPAR): +2.2% to CAD89.46
Among the provinces and territories, Manitoba registered the largest increase in occupancy (+9.5% to 68.1%), which resulted in the only double-digit jump in RevPAR (+10.7% to CAD85.13).
British Columbia posted the highest jump in ADR (+3.1% to CAD169.09).
Newfoundland and Labrador reported the largest declines in each of the three key performance metrics: occupancy (-22.4% to 38.9%), ADR (-8.2% to CAD120.80) and RevPAR (-28.8% to CAD46.94).
Saskatchewan saw the second-largest drop in RevPAR (-6.8% to CAD61.06).
Prince Edward Island experienced the second-steepest decrease in occupancy (-8.0% to 30.6%).
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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.
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