Canadian Lodging Industry Overview - Hospitality & Gaming

A Cushman & Wakefield Valuation & Advisory Publication

The following chart illustrates operating performance of the Canadian Lodging Industry from 2008 through Q3 2017.

Canadian Historical Operating Statistics: 2008-2016 and Year-to-Date September 2016 vs. September 2017 Year Supply % Change Demand % Change Occupancy % Change ADR % Change RevPAR % Change 2008 60.6 % $121.81 $73.82 2009 1.4 % (6.1) % 56.1 (7.4) % 117.51 (3.5) % 65.92 (10.7) % 2010 4.2 13.1 60.8 8.6 128.71 9.6 78.31 18.9 2011 1.2 2.9 61.8 1.7 127.85 (0.6) 78.98 1.1 2012 0.5 1.6 62.3 1.0 130.12 1.6 81.08 2.6 2013 0.5 2.1 63.3 1.6 133.08 2.3 84.21 3.9 2014 0.5 3.0 64.8 2.5 137.36 3.3 89.06 5.9 2015 1.0 0.2 64.1 (0.8) 142.98 4.5 91.71 3.6 2016 0.9 1.5 64.5 0.6 149.19 4.3 96.25 5.0 Avg. Annual % Change 1.3 % 2.2 % 0.8 % 2.6 % 3.4 % Year-to-Date September 2016 66.5 % $151.19 $100.47 Year-to-Date September 2017 0.8 % 2.9 % 67.8 2.1 % 159.00 5.2 % 107.86 7.4 %

Source: STR Republication or Other Re-Use of this Data Without the Express Written Permission of STR is Strictly Prohibited

On a national level, the year-to-date Q3 2017 data reveals another year of high points. RevPAR has increased by 7.4%, largely driven by strong ADR growth. Through the first nine months of this year, demand growth across the country was 2.9%, exceeding the national supply growth of 0.8%.

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