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 29 March through 4 April 2020, according to data from STR.
In comparison with the week of 31 March through 6 April 2019, the industry reported the following:
• Occupancy: -79.0% to 12.8%
• Average daily rate (ADR): -30.5% to CAD105.19
• Revenue per available room (RevPAR): -85.4% to CAD13.42
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-89.8% to 6.1%), which resulted in the steepest decrease in RevPAR (-92.5% to CAD6.87).
Ontario posted the largest drop in ADR (-34.8% to CAD105.14).
Among the major markets, Montreal recorded the steepest decrease in RevPAR (-92.9% to CAD7.81), due to the largest decline in occupancy (-90.0% to 6.7%).
Vancouver registered the largest drop in ADR (-34.5% to CAD119.12).
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.
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