The Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 3-9 May 2020, according to data from STR.
In comparison with the week of 5-11 May 2019, the industry reported the following:
• Occupancy: -73.9% to 17.5%
• Average daily rate (ADR): -37.7% to CAD101.47
• Revenue per available room (RevPAR): -83.7% to CAD17.75
Among the provinces and territories, Newfoundland and Labrador experienced the largest decline in occupancy (-86.0% to 7.1%).
British Columbia posted the steepest drop in ADR (-44.4% to CAD107.58).
Quebec reported the largest decrease in RevPAR (-88.4% to CAD12.66).
Among the major markets, Ottawa saw the largest drop in occupancy (-83.2% to 14.2%).
Vancouver registered the steepest decline in ADR (-49.1% to CAD117.50).
Toronto recorded the largest decrease in RevPAR (-91.1% to CAD15.45).
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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