HENDERSONVILLE, Tenn. — Canada’s hotel performance came in lower than the month prior but showed improved comparisons to 2019, according to STR’s November 2022 data.
In comparison to 2019, occupancy came in at 61 per cent (up 1.6 per cent); Average Daily Rate (ADR) was $169.69 (up 14.8 per cent); and Revenue Per Available Room (RevPAR) was $104.98 (up 16.6 per cent).
Among the provinces and territories, Manitoba recorded the highest November occupancy level (76.6 per cent), which surpassed the pre-pandemic comparable by 16.3 per cent. Among the major markets, Vancouver recorded the highest occupancy (75.9 per cent), which was 3.5 per cent above November 2019. However, Alberta (53.4 per cent) saw the lowest occupancy among provinces, up 3.2 per cent against 2019. At the market level, the lowest occupancy was reported in Edmonton (53.5 per cent), which was 2.8 per cent below the 2019 comparable.
“Top-line performance recovery showed astounding strength in November, reinforcing that travel is still a priority despite high inflation and a dimming economic outlook,” says Laura Baxter, CoStar Group’s director of Hospitality Analytics for Canada. CoStar Group is the parent company of STR. “When indexed to 2019, the key performance metrics aligned with the previous recovery peak in July. The improvement over recent months was partially due to a higher occupancy index, which was 1.6 per cent above the 2019 pre-pandemic comparable. New recovery milestones were realized in both weekday and weekend occupancy, signaling strength in both corporate and leisure travel. The weekday occupancy index, which can be used as a proxy for corporate travel demand recovery, was in line with 2019 for the first time of the pandemic era. The weekend occupancy index, used as a proxy for leisure travel recovery, pushed ahead to 107 per cent of the 2019 level. Transient occupancy also reached an all-time recovery high, up 10 per cent over November 2019, while the group index was slightly softer than last month, down 13 per cent compared to pre-pandemic levels.”