MONTREAL ― Quebec’s hotel sector is far from stable, according to research results from the Montreal-based Desjardins Group Economic Studies Team.
The report sites the lagging economy, competition from other conference and vacation destinations and the increase in accommodations from private individuals as the reason for the decrease in inventory and unstable occupancy rates. The stats show that the number of available hotel rooms peaked in 2008 and 2009, to approximately 77,000 units and declined to 70,871 units by 2014, whereas occupancy has fluctuated since 2000, cresting at 56.1 per cent in 2014.
To combat these pressures, it’s suggested operators build loyalty; distinguish themselves with new offerings such as wellness centres, healthful menus, more technology and a connection to the local community; and cooperate with industry partners to deliver unforgettable experiences.
Other key findings:
Average daily price per room has steadily increased from approximately $94 in 2000 to approximately $129 in 2014; rates dropped in 2009 to approximately $115
Average income per available room has increased steadily between 2000 (approximately $49) and 2014 (approximately $74), though it dipped by 2.8 per cent in 2003 and 10.3 per cent in 2009
To read the complete study, click here.