Positive Performance Metrics for Canadian Hotel Industry Week Ending 7 October 2017
The Canadian hotel industry reported occupancy rose 3.2% year over year to 74.5% during the week of 1-7 October. ADR increased 5.8% to 157.85 Canadian dollars ($126.44) and RevPAR rose 9.2% to CA$117.58 ($94.18).
The Canadian hotel industry recorded positive year-over-year results in the three key performance metrics during the week of 1-7 October 2017, according to data from STR.
In comparison with the week of 2-8 October 2016, the industry reported the following:
- Occupancy: +3.2% to 74.5%
- Average daily rate (ADR): +5.8% to CAD157.85
- Revenue per available room (RevPAR): +9.2% to CAD117.58
Among the provinces, the Northwest Territories posted the week’s highest increase in RevPAR (+20.7% to CAD143.64), due primarily to the largest rise in occupancy (+19.1% to 88.8%).
Four additional provinces reported double-digit growth in RevPAR: British Columbia (+19.4% to CAD129.76), Nova Scotia (+18.6% to CAD118.65), Manitoba (+12.9% to CAD89.34) and New Brunswick (+10.2% to CAD91.34).
Overall, nine of the 11 reporting provinces experienced growth in RevPAR for the week.
Nova Scotia posted the only double-digit increase in ADR (+11.0% to US$151.08).
Newfoundland and Labrador reported the only double-digit decline in RevPAR (-14.0% to CAD99.82), due to the only double-digit drop in occupancy (-11.6% to 66.7%).
Saskatchewan experienced the largest decrease in ADR (-5.2% to CAD117.46).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Hotel Industry News