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Canadian Hotels Report Mixed YOY Results for Week Ending 8 February January 2020

STR

The Canadian hotel industry recorded mixed year-over-year results in the three key performance metrics during the week of 2-8 February 2020, according to data from STR.

In comparison with the week of 3-9 February 2019, the industry reported the following:

• Occupancy: -1.7% to 56.1%
• Average daily rate (ADR): +0.2% to CAD148.15
• Revenue per available room (RevPAR): -1.5% to CAD83.18

Among the provinces and territories, Newfoundland and Labrador experienced the only double-digit rise in occupancy (+13.0% to 39.6%), the steepest decline in ADR (-3.1% to CAD116.37) and the largest jump in RevPAR (+9.5% to CAD46.04).

Quebec posted the largest lift in ADR (+3.0% to CAD158.28).

Saskatchewan saw the second-highest increases in occupancy (+3.1% to 56.7%) and RevPAR (+4.1% to CAD68.61).

New Brunswick registered the steepest decline in RevPAR (-11.3% to CAD48.26), due primarily to the only double-digit drop in occupancy (-10.5% to 40.6%)

Prince Edward Island reported the second-largest decreases in occupancy (-9.6% to 41.9%) and RevPAR (-11.0% to CAD49.89).

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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