COVID-19 webinar summary: 5 key points on U.S. & Canada, 16 April
As STR continues its commitment to keeping the hospitality industry updated during the COVID-19 outbreak, our webinar series will provide in-depth updates on global regions. However, if you’re unable to watch the full session during this stressful period, you can find a summary of key points below.
Canada RevPAR drops 87.6% as number of cases increase
RevPAR has been decreasing as the number of COVID-19 cases rises in Canada. For the week ending 11 April, RevPAR declined 87.6%, the worst such RevPAR decrease in STR’s database.
Canada Luxury Class Hotels: Almost a 100% RevPAR decline
Luxury hotels in Canada saw a 97.7% RevPAR decline compared with the same week last year. That was followed by Upper Upscale Class hotels (-95.0%). This is obviously due to the lack of group/meeting demand and corporate travel.
RevPAR declines in all U.S. submarkets
All 645 STR-defined U.S. submarkets showed double-digit RevPAR declines for the fourth week in a row, dropping 100% for the week ending 11 April.
Economy Class Hotels: one in three rooms sold
Economy class hotels in the U.S. were still selling one in three rooms each night for the week ending 11 April. Economy class hotels in the country posted a 33.6% occupancy level due to a strong base demand.
More pipeline projects move to deferred or abandoned
For the month of March, there were nine final planning projects and 21 planning projects moved to deferred in the U.S. At the same time, one final planning and seven planning projects moved to abandoned.