STR: Canada Hotel Results For Week Ending 21 December
Canadian hotel occupancy rose 6.4% to 42.3% during the week of 15-21 December. Despite a 0.5% ADR dip to 136.60 Canadian dollars ($104.49), RevPAR increased 5.8% to CA$57.74 ($44.17).
The Canadian hotel industry recorded mostly positive year-over-year results in the three key performance metrics during the week of 15-21 December 2019, according to data from STR.
HENDERSONVILLE, Tennessee - The Canadian hotel industry recorded mostly positive year-over-year results in the three key performance metrics during the week of 15-21 December 2019, according to data from STR.
In comparison with the week of 16-22 December 2018, the industry reported the following:
- Occupancy: +6.4% to 42.3%
- Average daily rate (ADR): -0.5% to CAD136.60
- Revenue per available room (RevPAR): +5.8% to CAD57.74
Among the provinces and territories, Prince Edward Island reported the largest increases in each of the three key performance metrics: occupancy (+33.2% to 25.2%), ADR (+5.4% to CAD104.13) and RevPAR (+40.5% to CAD26.27).
New Brunswick saw the second-highest jump in RevPAR (+25.0% to CAD38.60), due to the second-largest rises in occupancy (+21.0% to 34.7%) and ADR (+3.4% to CAD111.37).
Nova Scotia registered the third-highest lifts in occupancy (+19.3% to 37.0%) and RevPAR (+19.6% to CAD43.12).
British Columbia recorded the only decrease in RevPAR (-3.5% to CAD76.82) because of the steepest drop in ADR (-4.1% to CAD164.14).
None of the provinces or territories experienced an occupancy decline.
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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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