canada hotel market
Canadian Lodging Outlook Quarterly 2023-Q3
HVS | November 22, 2023
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (Occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504. HVS Canada performs major portfolio appraisals and single-asset consulting assignments and valuations from coast to coast. Our professional team ...
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 ...
STR: Canada’s February Hotel RevPAR Exceeded $100 for the First Time on Record
STR | March 27, 2023
HENDERSONVILLE, Tennessee—Canada’s hotel performance increased from the previous month, with February revenue per available room (RevPAR) exceeding CAD100 for the first time on record, according to STR’s February 2023 data. February 2023 (percentage change from 2019) Occupancy: 59.2% (+0.7%) Average daily rate (ADR): CAD174.62 (+16.5%) Revenue per available room (RevPAR): CAD103.33 (+17.3%) "Canada's hotel performance trends that emerged halfway through 2022 have remained incredibly consistent, and February was no exception," said Laura Baxter, CoStar Group's director of hospitality analytics for Canada. CoStar Grou...
Canadian Lodging Outlook Quarterly 2022-Q4
HVS | February 9, 2023
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504....
STR: Canada Hotel Occupancy Reached Three-Year High in August
STR | September 27, 2022
HENDERSONVILLE, Tennessee—Canada’s monthly hotel occupancy reached its highest absolute level for any month since August 2019, according to STR’s August 2022 data. August 2022 (percentage change from July 2019) Occupancy: 76.4% (-3.0%) Average daily rate (ADR): CAD212.38 (+14.6%) Revenue per available room (RevPAR): CAD162.36 (+11.2%) Compared with July, each of the three key performance metrics showed weakened comparisons with 2019. When adjusted for inflation, ADR was up 2.7% against the pre-pandemic comparable. "August is typically the seasonal peak for key performance indicators in Canada," said Laura Baxter,...
Canada Hotel Performance Rose in February Amid Loosened Restrictions
STR | March 23, 2022
HENDERSONVILLE, Tennessee — March 23, 2022 — Canada’s hotel industry reported higher performance from the month prior, along with better indexed comparisons with 2019, according to STR’s February 2022 data. February 2022 (percentage change from February 2019) Occupancy: 44.0% (-25.1%) Average daily rate (ADR): CAD144.83 (-3.4%) Revenue per available room (RevPAR): CAD63.75 (-27.7%) “Canada’s hotel performance improved significantly month over month, as COVID cases fell and gathering restrictions were loosened,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Grou...
STR: Canada Hotel Performance Fell in January Amid Latest COVID Concerns
STR | February 23, 2022
HENDERSONVILLE, Tennessee — February 23, 2022 — Canada’s hotel industry reported lower monthly performance levels amid the latest pandemic concerns, according to STR’s January 2022 data. January 2022 (percentage change from January 2019) Occupancy: 32.4% (-35.9%) Average daily rate (ADR): CAD131.72 (-10.6%) Revenue per available room (RevPAR): CAD42.70 (-42.7%) “The Omicron wave and the restrictions that ensued placed added pressure on performance recovery in January,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Group is the parent company of STR. “T...
Canada Reports Highest Monthly Performance Since Pandemic
STR | September 22, 2021
HENDERSONVILLE, TN — September 22, 2021 — Canada’s hotel industry reported its highest monthly performance levels since the pandemic, according to STR’s August 2021 data. Even with improvement from previous months, the country’s performance levels remained well below pre-pandemic comparisons from August 2019: Occupancy: 65.4% (-17.0%) Average daily rate (ADR): CAD160.36 (-13.4%) Revenue per available room (RevPAR): CAD104.92 (-28.1%) The occupancy and RevPAR levels were the highest in Canada since October 2019, while the ADR level was the country’s highest since September 2019. “The summer months were...
