By HNN Newswire
HENDERSONVILLE, Tennessee—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 12-18 April 2020, according to data from STR.
In comparison with the week of 14-20 April 2019, the industry reported the following:
• Occupancy: -77.7 per cent to 12.8 per cent
• Average daily rate (ADR): -31.8 per cent to C$101.23
• Revenue per available room (RevPAR): -84.8 per cent to C$13.00
Among the provinces and territories, Quebec experienced the largest drop in occupancy (-90.0 per cent to 6.2 per cent), which resulted in the steepest decrease in RevPAR (-92.9 per cent to C$6.47).
British Columbia posted the largest decline in ADR (-39.9 per cent to C$104.67).
Among the major markets, Montreal recorded the largest decrease in RevPAR (-93.2 per cent to C$7.07), due to the largest decline in occupancy (-89.9 per cent to 6.6 per cent).
Vancouver registered the steepest drop in ADR (-40.6 per cent to C$113.74).
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe.
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 and www.costargroup.com.