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Canadian Hotels Report Mostly Negative YOY Results for Week Ending 29 February 2020

STR

The Canadian hotel industry recorded mostly negative year-over-year results in the three key performance metrics during the week of 23-29 February 2020, according to data from STR.

In comparison with the week of 24 February through 2 March 2019, the industry reported the following:

• Occupancy: -1.6% to 59.1%
• Average daily rate (ADR): +0.6% to CAD150.37
• Revenue per available room (RevPAR): -1.0% to CAD88.80

Among the provinces and territories, Nova Scotia experienced the largest decrease in occupancy (-6.2% to 55.4%), which resulted in the steepest decline in RevPAR (-6.1% to CAD68.89).

Manitoba posted the largest drop in ADR (-0.4% to CAD126.40) and the second-steepest decreases in occupancy (-5.5% to 64.5%) and RevPAR (-5.8% to CAD81.47).

Prince Edward Island saw the only double-digit increases in occupancy (+23.9% to 37.1%) and RevPAR (+26.3% to CAD42.60).

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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