Canada | In August Hotels Recorded their High Occupancy since 2018

 

The Canadian hospitality industry has recorded the highest occupancy level for any month since August 2018 according to data recorded and released by CoStar, world leader in commercial real estate information with the most comprehensive database throughout Canada and the US.

CoStar Group's Director of Hotel Analysis Laura Baxter commented that after occupancy contracted marginally in July, the metric returned to a level normally seen before the pandemic.

The weakness of the general economy and the lower discretionary incomes of domestic tourists had a negative impact on hotel performance but the year - over - year growth in occupancy and ADR was a welcome break from this trend.

Group demand contracted for the fourth consecutive month, but room rates in the segment grew by 6.2% while transient ADR increased by 2.7% despite a smaller group base and hoteliers continuing to report a shorter booking period. Overall Canadian room rates outpaced the 2% inflation reported by Statistics Canada.

Among the Canadian provinces and territories, Nova Scotia, the most populous province in Atlantic Canada located on the east coast, recorded the highest level of occupancy with 89.6% with an increase of 4.2% compared to the same period in 2023 while the lowest occupancy was found in Saskatchewan, provinces in Western Canada that borders the United States to the south with an occupancy of 66.6% and an increase of 3.0% compared to the previous year.

Among the main markets, Vancouver, a major city in western Canada located in the Lower Mainland region of British Columbia, recorded the highest occupancy with 87.6%, which means an increase of 1.0% compared to August 2023.

 The lowest occupancy was recorded in Edmonton, capital city of the province of Alberta well known centre on the North Saskatchewan River with a 71.6% occupancy rate and an increase of 7.1% compared to the same period of last year.

Link

https://www.expreso.info/noticias/internacional/102659_en_agosto_los_hoteles_de_canada_registraron_la_mayor_ocupacion_desde