STR: Canada Hotel Results For Week Ending 21 March
Canadian hotel occupancy declined 65% to 21.4% during the week of 15-21 March as ADR fell 16.9% to 120.82 Canadian dollars ($85.59) and RevPAR dropped 70.9% to CA$25.84 ($18.30).
HENDERSONVILLE, Tennessee - Showing further COVID-19 impact, the Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 15-21 March 2020, according to data from STR.
- Occupancy: -65.0% to 21.4%
- Average daily rate (ADR): -16.9% to CAD120.82
- Revenue per available room (RevPAR): -70.9% to CAD25.84
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-75.5% to 15.0%) and the steepest drop in RevPAR (-77.8% to CAD19.94).
Prince Edward Island posted the largest decrease in ADR (-24.3% to CAD87.39).
Of note, Ontario saw double-digit declines across the three key performance metrics: occupancy (-65.1% to 21.7%), ADR (-18.1% to CAD120.77) and RevPAR (-71.4% to CAD26.22).
Among the major markets, Montreal recorded the steepest drop in RevPAR (-77.3% to CAD21.67), due to the largest decrease in occupancy (-75.6% to 15.3%).
Ottawa registered the largest decline in ADR (-20.6% to CAD129.49).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
Phone: +1 615 824 8664 ext. 3500