Canadian Lodging Industry Overview - Hospitality & Gaming

A Cushman & Wakefield Valuation & Advisory Publication

TOP 10 MARKETS

At the national level, overall results are very positive, but the 10 major Canadian markets have fared unevenly. Compared to 2016, only one of the 10 major Canadian markets saw a decline in RevPAR in the first nine months of the year. Vancouver and Toronto continue to lead the 10 major Canadian markets, with improved results largely driven by ADR growth. Ottawa and Montreal have also shown very impressive results with improved occupancy and ADR causing a notable 13.2% and 12.3% increase in RevPAR, respectively. Halifax has the best overall improvement year-over-year, with a 4.6% increase in occupancy and a 9.9% increase in ADR, delivering a 15.0% gain in

RevPAR – the highest level of RevPAR growth shown across the 10 major markets. At the other end of the scale, Edmonton continues to battle decreasing occupancy levels this year, although there has been a slight gain in ADR. Calgary is showing signs of turning things around, with demand growth and occupancy levels up, although ADR dipped very slightly.

Top 10 Canadian Markets RevPAR Percent Change – Year-to-Date September 2017

$180

$160

10.1%

8.7%

$140

12.3%

13.2%

8.1%

7.0%

$120

15.0%

$100

0.8%

11.0%

$80

-5.5%

$60

$40

YTD September 2016 YTD September 2017

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

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