Canada Hotel Performance
Canada Hotels Record First Occupancy Decline in Nine Months
CoStar Group | October 22, 2024
WASHINGTON – 22 October 2024 – Canada’s hotel industry recorded its first month-over-month occupancy decline since January 2024, according to CoStar’s September 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2024 (percentage change from 2023): Occupancy: 74.0% (-1.8%) Average daily rate (ADR): CAD227.99 (+2.6%) Revenue per available room (RevPAR): CAD168.69 (+0.8%) “Declines in both group and transient demand resulted in softer occupancy across Canada hotels,” said Laura Baxter, CoStar Group’s director of hospitalit...
Canada Hotels Record Highest Occupancy Since 2018
CoStar Group | September 19, 2024
WASHINGTON – 19 September 2024 – Canada’s hotel industry recorded its highest occupancy level for any month since August 2018, according to CoStar’s August 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. August 2024 (percentage change from 2023): Occupancy: 79.7% (+3.1%) Average daily rate (ADR): CAD235.85 (+3.6%) Revenue per available room (RevPAR): CAD187.93 (+6.8%) “After occupancy contracted marginally in July, the metric returned to a level normally seen prior to the pandemic,” said Laura Baxter, CoStar Group’s director o...
Canada Hotels Record First Occupancy Decline in Three Months
CoStar Group | August 22, 2024
WASHINGTON – 22 August 2024 – After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. July 2024 (percentage change from 2023): Occupancy: 75.2% (-0.4%) Average daily rate (ADR): CAD236.12 (+1.1%) Revenue per available room (RevPAR): CAD177.62 (+0.7%) “Occupancy dipped marginally in July after a three-month growth run,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Can...
Growth in Room Rates Continues To Drive Canada Hotel Industry
CoStar Group | July 24, 2024
WASHINGTON – 24 July 2024 – Canada’s hotel industry achieved continued performance gains through average daily rate (ADR), according to CoStar’s June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. June 2024 (percentage change from 2023): Occupancy: 74.5% (+0.5%) Average daily rate (ADR): CAD231.04 (+3.7%) Revenue per available room (RevPAR): CAD172.10 (+4.2%) “ADR continues to be the main driver of RevPAR improvement in Canada,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. “The 3.7% increas...
Canada Hotels Report First Occupancy Increase in Four Months
CoStar Group | May 23, 2024
WASHINGTON – 23 May 2024 – After four consecutive months of year-over-year declines, Canada’s hotel industry reported an increase in occupancy, according to CoStar’s April 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. April 2024 (percentage change from 2023): Occupancy: 64.0% (+2.7%) Average daily rate (ADR): CAD188.39 (+5.1%) Revenue per available room (RevPAR): CAD120.64 (+8.0%) “The year-over-year growth in occupancy suggests that downward pressure on hotel demand related to weaker economic conditions will not be linear, as the per...
Canada Hotels Record First Transient Occupancy Increase in Four Months
CoStar Group | April 23, 2024
WASHINGTON – 23 April 2024 – After four consecutive months of year-over-year declines, Canada’s hotel industry reported a marginal lift in transient occupancy, according to CoStar’s March 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. March 2024 (percentage change from 2023): Occupancy: 61.0% (-2.1%) Average daily rate (ADR): CAD185.23 (+3.9%) Revenue per available room (RevPAR): CAD112.99 (+1.7%) Transient, according to CoStar, includes rooms sold to individuals or groups occupying less than 10 rooms per night. “The slight increa...
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...
