STR: Canada Hotel Results For Week Ending 25 May
During the week of 19-25 May, Canadian hotel occupancy dipped 0.8% to 66.4%, but a 3.3% ADR increase to 167.30 Canadian dollars ($123.55) brought RevPAR up 2.5% to CA$111.02 ($81.99).
The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 19-25 May 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 19-25 May 2019, according to data from STR.
In comparison with the week of 20-26 May 2018, the industry reported the following:
- Occupancy: -0.8% to 66.4%
- Average daily rate (ADR): +3.3% to CAD167.30
- Revenue per available room (RevPAR): +2.5% to CAD111.02
Among the provinces and territories, Nova Scotia saw the highest rise in occupancy (+8.2% to 67.0%) and the second-largest increase in ADR (+7.5% to US$158.04), which resulted in the largest jump in RevPAR (+16.4% to CAD105.90).
Quebec posted the only other double-digit increase in RevPAR (+13.5% to CAD134.90), due to the highest lift in ADR (+7.8% to CAD180.21) and the second-largest rise in occupancy (+5.3% to 74.9%).
Alberta reported the steepest decline in RevPAR (-17.2% to CAD71.50).
Newfoundland and Labrador registered the only double-digit decrease in ADR (-11.2% to CAD125.93).
Prince Edward Island saw the largest drop in occupancy (-11.4% to 56.4%) and the second-steepest decline in RevPAR (-15.7% to CAD78.27).
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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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