Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to CoStar’s July 2023 data.
Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to CoStar’s June 2023 data.
Among the provinces and territories, Newfoundland and Labrador recorded the highest May occupancy level (79.9%), which was up 46.0% year over year.
In April, inflation was stronger than the Bank of Canada expected, at 4.4%. But even when comparing the April results to 2019 dollars, real rates increased 2.3%. Growth has been ongoing since July 2022, apart from a slight 1% contraction in January 2023.
Travel & Tourism contributes one in every 12 jobs - International visitor spend up almost 65%
The ADR increase against 2019 was the highest of the pandemic era, showing no signs of pulling back on a national level.
Revenue per available room (RevPAR): CAD103.33 - Up 17.3% over 2019
Among the provinces and territories, Manitoba recorded the highest January occupancy level (64.3%), which surpassed the pre-pandemic comparable by 20.9%.
The Canadian hotel industry roared back in 2022! ADR was 10% higher than 2019 in spite of occupancy remaining 6% lower, resulting in a 3.5% RevPAR lift from pre COVID market performance.
Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were the highest for any year on record, according to STR’s 2022 data.