STR: Canada Q2 2019 hotel performance
HENDERSONVILLE, Tennessee—The Canadian hotel industry reported mostly positive year-over-year results in the three key performance metrics during the second quarter of 2019, according to data from STR.
Compared with Q2 2018:
- Occupancy: -0.4% to 68.3%
- Average daily rate (ADR): +2.6% to CAD167.71
- Revenue per available room (RevPAR): +2.1% to CAD114.52
STR analysts attribute the dip in occupancy to supply growth (+1.4%) and comparisons with a strong quarter last year, which was boosted by an influx of visitors for anniversary celebrations around the country. Full-year forecasts for Canada suggest a slowdown in occupancy because of new inventory, but rates are expected to grow as that new supply is expected to raise the rate ceiling for the country.
In absolute values, June was Canada’s top month of the quarter for all three key performance metrics: occupancy (74.1%), ADR (CAD181.19) and RevPAR (CAD134.32).
Among the provinces and territories, British Columbia recorded the quarter’s largest increase in RevPAR (+7.6% to CAD150.81), due primarily to the largest lift in ADR (+5.9% to CAD202.53).
Newfoundland and Labrador posted highest rise in occupancy (+5.8% to 57.6%) but the steepest drop in ADR (-7.5% to CAD133.41).
Alberta saw the largest declines in occupancy (-3.6% to 57.1%) and RevPAR (-3.5% to CAD86.45).
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