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 22-28 March 2020, according to data from STR.
In comparison with the week of 24-30 March 2019, the industry reported the following:
• Occupancy: -76.1% to 14.8%
• Average daily rate (ADR): -25.1% to CAD109.66
• Revenue per available room (RevPAR): -82.1% to CAD16.23
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-85.9% to 8.6%) and RevPAR (-88.3% to CAD10.52).
British Columbia posted the largest decrease in ADR (-31.0% to CAD113.86).
Of note, Ontario saw steep declines across the three key performance metrics: occupancy (-75.6% to 16.2%), ADR (-27.5% to CAD110.72) and RevPAR (-82.3% to CAD17.89).
Among the major markets, Montreal recorded the steepest drop in RevPAR (-88.5% to CAD11.47), due to the largest decrease in occupancy (-86.1% to 8.9%).
Toronto registered the largest decline in ADR (-28.0% to CAD131.07).
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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