STR: Canada Q3 2020 Hotel Performance
Canadian hotel occupancy fell 49.8% to 38.1% in the third quarter, while ADR dipped 28% to 131.65 Canadian dollars ($100.39) and RevPAR dropped 63.9% to CA$50.15 ($38.24).
HENDERSONVILLE, Tennessee - The Canadian hotel industry saw higher performance from the previous quarter, but at overall low levels, according to Q3 2020 data from STR.
Q3 2020 (percentage change from Q3 2019):
- Occupancy: 38.1% (-49.8%)
- Average daily rate (ADR): CAD131.65 (-28.0%)
- Revenue per available room (RevPAR): CAD50.15 (-63.9%)
The absolute occupancy level was the lowest for any third quarter in STR's Canada database, but was more than double the level from Q2 2020 (19.4%). The ADR level was the lowest for a Q3 since 2009.
In absolute values, July was Canada's lowest month of the quarter for occupancy (34.0%) and RevPAR (CAD44.71), while September was the lowest in ADR (CAD126.18). The country saw its lowest occupancy level during the week of 5-11 April, but has since reached a 30% level in the metric.
Among the provinces and territories, British Columbia reported the quarter's highest occupancy level (48.3%), which was still down 41.5% year over year.
Newfoundland and Labrador showed the lowest occupancy (30.7%), down 57.4% from Q3 2019.
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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