STR: Canada experiences highest Q2 hotel occupancy since 1999

STR

STR: Canada experiences highest Q2 hotel occupancy since 1999

STR: Canada experiences highest Q2 hotel occupancy since 1999

Canada’s hotel industry reported positive year-over-year results in the three key performance metrics during the second quarter of 2018, according to data from STR.

Compared with Q2 2017:

  • Occupancy: +1.6 percent to 68.8 percent
  • Average daily rate (ADR): +4.9 percent to CAD163.56
  • Revenue per available room (RevPAR): +6.7 percent to CAD112.52

The absolute occupancy level was the highest for a Q2 in Canada since 1999, while the ADR level was the highest for any Q2 on record. June was the strongest month of the quarter for absolute occupancy (74.8 percent), ADR (CAD177.90) and RevPAR (CAD133.03).  

STR analysts note that a continued influx of inbound international tourism helped achieve a 2.8 percent increase in Q2 demand (room nights sold). Supply (room nights available) grew 1.2 percent for the same time period. Performance was also helped by several significant events such as Doors Open Toronto (26-27 May) and the Grand Prix Montreal (8-10 June). 

Overall, 11 of the 12 reporting provinces and territories saw RevPAR growth during the quarter. 

The Yukon Territory reported the largest increase in RevPAR (+12.2 percent to CAD126.55), due primarily to the second-largest jump in ADR (+9.1 percent to CAD157.80).  

British Colombia posted the only double-digit lift in ADR (+10.2 percent to CAD192.22) and the only other double-digit rise in RevPAR (+10.4 percent to CAD142.14). 

Saskatchewan experienced the highest increase in occupancy (+8.1 percent to 58.2 percent), but one of only two declines in ADR (-1.3 percent to CAD119.46). 

Newfoundland and Labrador saw the only double-digit drops in occupancy (-17.8 percent to 55.3 percent) and RevPAR (-19.6 percent to US$79.09) and the largest dip in ADR (-2.2 percent to CAD143.13)

Source = STR
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