Canadian Hotel Industry Reports Occupancy Drop of -77.7% to 12.8%

Showing further COVID-19 impact, the Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 12-18 April 2020, according to data from STR.

In comparison with the week of 14-20 April 2019, the industry reported the following:

• Occupancy: -77.7% to 12.8%
• Average daily rate (ADR): -31.8% to CAD101.23
• Revenue per available room (RevPAR): -84.8 to CAD13.00

Among the provinces and territories, Quebec experienced the largest drop in occupancy (-90.0% to 6.2%), which resulted in the steepest decrease in RevPAR (-92.9% to CAD6.47).

British Columbia posted the largest decline in ADR (-39.9% to CAD104.67).

Among the major markets, Montreal recorded the largest decrease in RevPAR (-93.2% to CAD7.07), due to the largest decline in occupancy (-89.9% to 6.6%).

Vancouver registered the steepest drop in ADR (-40.6% to CAD113.74).

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.