HENDERSONVILLE, Tenn. — The latest STR statistics for Canada paint a picture that becomes more dire as the weeks wear on. Occupancy last week in Canadian hotels was just 21.4 per cent.
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 per cent to 21.4 per cent
• Average daily rate (ADR): -16.9 per cent to C$120.82
• Revenue per available room (RevPAR): -70.9 per cent to C$25.84
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-75.5 per cent to 15.0 per cent) and the steepest drop in RevPAR (-77.8 per cent to C$19.94).
Prince Edward Island posted the largest decrease in ADR (-24.3 per cent to C$87.39).
Of note, Ontario saw double-digit declines across the three key performance metrics: occupancy (-65.1 per cent to 21.7 per cent), ADR (-18.1 per cent to C$120.77) and RevPAR (-71.4 per cent to C$26.22).
Among the major markets, Montreal recorded the steepest drop in RevPAR (-77.3 per cent to C$21.67), due to the largest decrease in occupancy (-75.6 per cent to 15.3 per cent).
Ottawa registered the largest decline in ADR (-20.6 per cent to C$129.49).
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.