STR: Canada hotel results for week ending 28 March
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 22-28 March 2020, according to data from STR.
In comparison with the week of 24-30 March 2019, the industry reported the following:
- Occupancy: -76.1% to 14.8%
- Average daily rate (ADR): -25.1% to CAD109.66
- Revenue per available room (RevPAR): -82.1% to CAD16.23
Among the provinces and territories, Quebec experienced the largest decline in occupancy (-85.9% to 8.6%) and RevPAR (-88.3% to CAD10.52).
British Columbia posted the largest decrease in ADR (-31.0% to CAD113.86).
Of note, Ontario saw steep declines across the three key performance metrics: occupancy (-75.6% to 16.2%), ADR (-27.5% to CAD110.72) and RevPAR (-82.3% to CAD17.89).
Among the major markets, Montreal recorded the steepest drop in RevPAR (-88.5% to CAD11.47), due to the largest decrease in occupancy (-86.1% to 8.9%).
Toronto registered the largest decline in ADR (-28.0% to CAD131.07).
Additional Performance Data
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
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.
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