STR: Canada Hotel Results For Week Ending 16 March
The Canadian hotel industry reported occupancy fell 3.6% to 60.9% during the week of 10-16 March, while ADR was down 1.4% to 144.12 Canadian dollars ($107.91), and RevPAR declined 4.9% to CA$87.75 ($65.70)
HENDERSONVILLE, Tennessee — The Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR.
- Occupancy: -3.6% to 60.9%
- Average daily rate (ADR): -1.4% to CAD144.12
- Revenue per available room (RevPAR): -4.9% to CAD87.75
Among the provinces and territories, Prince Edward Island reported the only double-digit increases in each of the three key performance metrics: occupancy (+59.2% to 47.5%), ADR (+11.2% to CAD116.93) and RevPAR (+77.0% to CAD55.49).
Manitoba experienced the second-highest increase in occupancy (+4.9% to 69.0%), which resulted in the only other jump in RevPAR (+6.5% to CAD86.78).
The Northwest Territories saw the largest declines in occupancy (-27.6% to 65.7%) and RevPAR (-29.0% to CAD110.71).
Newfoundland and Labrador registered the steepest drop in ADR (-7.4% to CAD121.38), which resulted in the second-largest decrease in RevPAR (-16.2% to CAD52.40).
Nova Scotia experienced the second-steepest decline in occupancy (-10.6% to 55.4%).
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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