STR: Canada Hotel Results For Week Ending 23 March
The Canadian hotel industry reported occupancy decreased 5.7% to 61.2% during the week of 17-23 March, ADR dipped 1.8% to 145.03 Canadian dollars ($108) and RevPAR dropped 7.4% to CA$88.73 ($66.07)
The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 17-23 March 2019, according to data from STR.
HENDERSONVILLE, Tennessee — The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 17-23 March 2019, according to data from STR.
In comparison with the week of 18-24 March 2018, the industry reported the following:
- Occupancy: -5.7% to 61.2%
- Average daily rate (ADR): -1.8% to CAD145.03
- Revenue per available room (RevPAR): -7.4% to CAD88.73
Among the provinces and territories, Prince Edward Island reported the only increases in occupancy (+18.9% to 42.1%) and RevPAR (+29.7% to CAD48.64) as well as the highest jump in ADR (+9.1% to CAD115.50).
New Brunswick posted the only other lift in ADR (+0.9% to CAD120.80).
The Northwest Territories saw the largest decline in occupancy (-34.9% to 59.7%), which resulted in the steepest drop in RevPAR (-36.2% to CAD100.30).
Newfoundland and Labrador registered the largest decrease in ADR (-5.5% to CAD121.74).
Saskatchewan experienced the second-steepest declines in occupancy (-11.8% to 54.6%) and RevPAR (-13.2% to CAD63.78).
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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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