Article Summary: Canadian hotel occupancy fell 71.4% in the second quarter of 2020 to 19.4%, ADR declined 36.4% to 106.66 Canadian dollars ($79.70) and RevPAR decreased 81.8% to CA$20.72 ($15.48).
Canadian hotel occupancy fell 71.4% in the second quarter of 2020 to 19.4%, ADR declined 36.4% to 106.66 Canadian dollars ($79.70) and RevPAR decreased 81.8% to CA$20.72 ($15.48).
Primary Category: Other Reports
HENDERSONVILLE, Tennessee—Due to the impact of the COVID-19 pandemic, the Canadian hotel industry reported all-time lows in the three key performance metrics during Q2 2020, according to data from STR.
Compared with Q2 2019:
• Occupancy: -71.4% to 19.4%
• Average daily rate (ADR): -36.4% to CAD106.66
• Revenue per available room (RevPAR): -81.8% to CAD20.72
The absolute occupancy and RevPAR levels were the lowest for any quarter in STR’s Canada database.
In absolute values, April was Canada’s lowest month of the quarter for each of the three metrics: occupancy (14.0%), ADR (CAD100.94) and RevPAR (CAD14.13). The country saw its lowest occupancy level during the week of 5-11 April, but has since reached a 30% level in the metric.
Among the provinces and territories, Newfoundland and Labrador recorded the steepest decline in occupancy (-82.3% to 10.2%).
British Columbia posted the largest drop in ADR (-42.0% to CAD116.92).
Quebec registered the steepest decrease in RevPAR (-88.3% to CAD15.08).
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 costargroup.com.
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Headline: STR: Canada Q2 2020 hotel performance
Article Date: 7/27/2020
Article Time: 9:51:00 AM