Showing further COVID-19 impact, the Canadian hotel industry recorded negative year-over-year results in the three key performance metrics during the week of 15-21 March 2020, according to data from STR.
In comparison with the week of 17-23 March 2019, the industry reported the following:
• Occupancy: -65.0% to 21.4%
• Average daily rate (ADR): -16.9% to CAD120.82
• Revenue per available room (RevPAR): -70.9% to CAD25.84
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-75.5% to 15.0%) and the steepest drop in RevPAR (-77.8% to CAD19.94).
Prince Edward Island posted the largest decrease in ADR (-24.3% to CAD87.39).
Of note, Ontario saw double-digit declines across the three key performance metrics: occupancy (-65.1% to 21.7%), ADR (-18.1% to CAD120.77) and RevPAR (-71.4% to CAD26.22).
Among the major markets, Montreal recorded the steepest drop in RevPAR (-77.3% to CAD21.67), due to the largest decrease in occupancy (-75.6% to 15.3%).
Ottawa registered the largest decline in ADR (-20.6% to CAD129.49).
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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