STR: Canada Hotel Results For Week Ending 25 April
HENDERSONVILLE, Tennessee - Showing further COVID-19 impact, the Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 19-25 April 2020, according to data from STR.
- Occupancy: -76.9% to 15.0%
- Average daily rate (ADR): -32.2% to CAD101.22
- Revenue per available room (RevPAR): -84.4% to CAD15.14
Among the provinces and territories, Quebec experienced one of the largest drops in occupancy (-87.7% to 7.9%), which pushed the steepest decrease in RevPAR (-91.6% to CAD8.20).
Newfoundland and Labrador matched for the other largest decline in occupancy (-87.7% to 7.1%).
British Columbia posted the steepest drop in ADR (-39.5% to CAD105.48).
Among the major markets, Montreal recorded the largest decrease in RevPAR (-92.0% to CAD9.00), due to the largest decline in occupancy (-87.7% to 8.5%).
Vancouver registered the steepest drop in ADR (-43.5% to CAD113.91).
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.
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