STR reports Canada performance for week ending 24 October
The Canadian hotel industry posted declines in all three key performance measurements during the week of 18-24 October, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 5.9 percent to end the week at 67.4 percent. Average daily rate dropped 4.7 percent to finish the week at CAD$127.68. Revenue per available room for the week decreased 10.3 percent to finish at CAD$86.05.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 18-24 October, according to data from STR.
In year-over-year measurements, the industry’s occupancy decreased 5.9 percent to end the week at 67.4 percent. Average daily rate dropped 4.7 percent to finish the week at CAD$127.68. Revenue per available room for the week decreased 10.3 percent to finish at CAD$86.05.
Among the provinces, Quebec experienced the largest increases in all three key metrics. The province was up 7.2 percent in occupancy to 72.6 percent, increased 8.0 percent in ADR to CAD$151.89, and jumped 15.9 percent in RevPAR to CAD$110.35.
Three provinces reported double-digit occupancy decreases: Prince Edward Island (-21.9 percent to 40.6 percent); Alberta (-13.9 percent to 65.1 percent); and British Columbia (-12.7 percent to 59.3 percent).
Along with Quebec, four provinces posted ADR increases: Manitoba (+4.2 percent to CAD$110.79); Saskatchewan (+2.9 percent to CAD$120.12); Nova Scotia (+1.9 percent to CAD$123.44); and Newfoundland (+0.5 percent to CAD$130.43).
Prince Edward Island experienced the largest RevPAR decrease, dropping 24.5 percent to CAD$33.36, followed by Alberta (-19.9 percent to CAD$86.49) and British Columbia (-19.9 percent to CAD$73.92).
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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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