STR: Canada Hotel Results For Week Ending 13 April
During the week of 7-13 April, Canadian hotel occupancy rose 3.2% to 64.1%, ADR increased 4.4% to 153.05 Canadian dollars ($114.37) and RevPAR rose 7.6% to CA$98.09 ($73.30).
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 7-13 April 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 7-13 April 2019, according to data from STR.
In comparison with the week of 8-14 April 2018, the industry reported the following:
• Occupancy: +3.2% to 64.1%
• Average daily rate (ADR): +4.4% to CAD153.05
• Revenue per available room (RevPAR): +7.6% to CAD98.09
Among the provinces and territories, Prince Edward Island registered the largest increase in RevPAR (+123.2% to CAD97.83), due to the highest rise in occupancy (+97.6% to 76.1%) and the only double-digit lift in ADR (+12.9% to CAD128.55).
Quebec experienced the only other double-digit increases in occupancy (+11.9% to 66.1%) and RevPAR (+22.0% to CAD105.25). The province posted the second-highest jump in ADR (+9.0% to CAD159.12).
Manitoba experienced the only double-digit decreases in occupancy (-17.6% to 63.4%) and RevPAR (-19.4% to CAD80.21).
Newfoundland and Labrador reported the only double-digit drop in ADR (-10.6% to CAD117.52) and the second-largest decrease in RevPAR (-8.8% to CAD55.07).
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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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