Canada Hotel Performance
Canada Hotel Room Rates Driven by Groups in February
CoStar Group | March 21, 2024
WASHINGTON – 21 March 2024 – Canada’s hotel industry reported a third consecutive month of occupancy declines but continued growth in average daily rate (ADR), according to CoStar’s February 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. February 2024 (percentage change from 2023): Occupancy: 58.0% (-1.6%) Average daily rate (ADR): CAD181.55 (+3.8%) Revenue per available room (RevPAR): CAD105.37 (+2.2%) Group ADR growth (+7.9%) was the strongest among the segments. “Both transient and group occupancy declined, down 2.4% and 1.2%, ...
Canada Hotel Occupancy Dipped Because of Less Leisure Demand in January
CoStar Group | February 22, 2024
WASHINGTON – 22 January 2024 – Canada’s hotel industry showed lower occupancy but continued growth in average daily rate (ADR), according to CoStar’s January 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. January 2024 (percentage change from 2023): Occupancy: 49.6% (-1.7%) Average daily rate (ADR): CAD175.38 (+4.3%) Revenue per available room (RevPAR): CAD87.00 (+2.6%) “Transient occupancy fell 3.7% year over year, with most of the decline taking place on the weekends, suggesting that individuals are pulling back on discretionary spe...
Canada’s Record-High Hotel ADR Outpaced Inflation in 2023
CoStar Group | January 25, 2024
WASHINGTON – 25 January 2024 – Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were the highest for any year on record, according to CoStar’s 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 2023 (percentage change from 2022): Occupancy: 65.7% (+7.7%) Average daily rate (ADR): CAD200.08 (+9.7%) Revenue per available room (RevPAR): CAD131.48 (+18.3%) “Canada hotel room rate growth outpaced inflation in 2023, further cementing the hotel sector’s reputation as a strong hedge against the metric,” said La...
Canada Hotel Performance Followed Seasonal Trends in November
CoStar Group | December 21, 2023
WASHINGTON – 21 December 2023 – As expected, Canada’s hotel performance fell month over month, but continued a stretch of year-over-year growth, according to CoStar’s November 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. November 2023 (percentage change from November 2022): Occupancy: 62.1% (+0.5%) Average daily rate (ADR): CAD179.18 (+5.8%) Revenue per available room (RevPAR): CAD111.19 (+6.4%) “Canada hotel performance returned to single-digit growth in November,” said Laura Baxter, CoStar Group’s director of hospitality ana...
Canada Hotels Recorded Double-Digit RevPAR Growth in October
CoStar Group | November 22, 2023
WASHINGTON – 22 November 2023 – Following seasonal patterns, Canada’s hotel performance fell month over month, but continued a stretch of year-over-year growth, according to CoStar’s October 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. October 2023 (percentage change from October 2022): Occupancy: 68.1% (+2.2%) Average daily rate (ADR): CAD196.25 (+8.8%) Revenue per available room (RevPAR): CAD133.57 (+11.2%) “Following three months of single-digit, year-over-year growth, RevPAR grew double-digits for the first time since June,” ...
Canada Hotel Performance Remained on Upward Trajectory in September
CoStar Group | October 23, 2023
WASHINGTON – 23 October 2023 – Canada’s hotel industry continued a stretch of year-over-year performance growth, according to CoStar’s September 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 (percentage change from September 2022): Occupancy: 75.3% (+1.5%) Average daily rate (ADR): CAD222.02 (+8.1%) Revenue per available room (RevPAR): CAD167.14 (+9.7%) “Although economists are predicting an economic downturn, Canada’s hotel sector remains on solid footing,” said Laura Baxter, CoStar Group’s director of hospita...
Market Spotlight on Canada
HotStats | September 8, 2023
By Jeannette King Recent data on the performance metrics of the Canadian hospitality market reveals a compelling story of resilience and recovery tinged with a note of warning on bottom-line conversion. Amidst global challenges, the industry has demonstrated its tenacity, with the Total Revenue Per Available Room (TRevPAR) metric taking center stage in this narrative. In a comparative analysis spanning from 2019 to 2023, the trends underscore the transient nature of the setbacks faced in 2022 and highlight the industry's subsequent rebound. Specifically, the TRevPAR metric, which provides a holistic view of a hotel's revenue-generating ...
Canada Hotel ADR and RevPAR Reached Record Highs in July
oStar Group | August 23, 2023
WASHINGTON – August 23, 2023 – Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to CoStar’s July 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. July 2023 (percentage change from July 2022): Occupancy: 75.6% (+0.1%) Average daily rate (ADR): CAD232.13 (+7.7%) Revenue per available room (RevPAR): CAD175.42 (+7.8%) In addition to the monthly ADR and RevPAR levels, Canada’s occupancy level was its highest since August 2022. “Canada’s h...
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